In Brief: Paytm restores cashback feature; BigBasket eyes $400 mn investment

In Brief: Paytm restores cashback feature; BigBasket eyes $400 mn investment
Photo Credit: VCCircle
29 Sep, 2020

Digital payments major Paytm said in a blog post that it has restored the cashback feature on UPI payments for in-app promotion of the Indian Premier League on its platform with tweaks to pass the Google Play policy. The Noida-based One97 Communications-run startup had withdrawn the cashback feature earlier this month after Google removed the app from its Android store, citing anti-gambling policy violations. 

BigBasket in talks with new investors for capital

Homegrown online grocer BigBasket is in talks to onboard new investors, such as Singapore government-owned Temasek, US firm Generation Partners, Fidelity and Tybourne Capital, for a $350-400 million financing round, The Economic Times reported, citing sources. According to the report, the round may also include a $100-150 million in secondary sale of shares by early investors. The report added that the non-binding term sheets are in and the round is likely to close within a month.  

Pooja Goyal named co-founder, COO of Avishkaar

Edtech startup Avishkaar said it has roped in Pooja Goyal as the co-founder and COO of the company. Goyal, an IIT Delhi and INSEAD alumna, has over 20 years of global leadership experience in the edtech and product development segments, with companies such as Adobe, KLAY and PalmSource. Goyal’s experience in leading strategy, fundraising and building products and companies will be a key asset to Avishkaar, founder Tarun Bhalla said.

Zeta finds new COO in Abhishek Sen 

Bengaluru headquartered fintech firm Zeta has appointed Abhishek Sen as its COO. With over 16 years of experience in human resource management, operations and leadership development, Sen will be responsible for working across teams in Zeta and spearheading the Bhavin Turakhia-led company’s operations, a statement said.

Snapdeal announces three sales 

Online ecommerce marketplace Snapdeal has announced three sales for the upcoming festive season. The first sale starts mid-October and coincides with Navratri festivities, a statement said. The next two sales will run in late October and early November, it said. Over the past few months, Snapdeal claims to have on-boarded more than 75,000 new sellers on its platform.  

Read: Amazon India ramps up delivery network ahead of festive season sales