PayPal is shutting down domestic payments business in India

PayPal is shutting down its domestic business in India, less than four years after the American giant kickstarted local operations in the world’s second largest internet market. “From 1 April 2021, we will focus all our attention on enabling more international sales for Indian businesses, and shift focus away from our domestic products in India. […]

Indian mobile gaming platform Mobile Premier League raises $90 million

Mobile Premier League (MPL) has raised $90 million in a new financing round as the two-year-old Bangalore-based esports and mobile gaming platform grows its user base and looks to expand outside of India. SIG, early-stage tech investor RTP Global, and MDI Ventures led MPL’s $90 million Series C financing round, with participation from existing investors […]

Google pulls India’s Paytm app from Play Store for repeat policy violations

Google has pulled popular Indian financial services app Paytm from the Play Store for violating its gambling policies. Paytm is India’s most valuable startup and claims over 50 million monthly active users. Its marquee app, which competes with Google Pay in India, disappeared from the Play Store in the country earlier Friday. Google said that Play […]

Amazon-backed Indian insurtech startup Acko raises $60 million

A young Indian startup that is taking on the country’s antiquated insurance industry with a digital-first product — and which has already received backing from global giant Amazon — today announced a new financing round. Bangalore-based Acko said on Tuesday it has raised $60 million in its Series D financing round. Germany-based Munich Re, one […]

China’s Alibaba won’t invest in Indian startups for at least six months, report says

Chinese internet giant Alibaba Group has put on hold plans to invest in Indian startups amid geo-political tensions between the two countries, Reuters reported Wednesday, citing two unnamed sources. The Chinese group, which has invested more than $2 billion in Indian startups since 2015, plans to freeze new investments in Indian startups for at least […]