homevideos Newsstartup NewsRazorpay's acquires PoshVine, Kuku FM bags $21.8 million in series B1

Razorpay's acquires PoshVine, Kuku FM bags $21.8-million in series B1

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By Ritu Singh   | Shruti Mishra  Sept 27, 2022 7:49:30 PM IST (Updated)

Razorpay announced its foray into loyalty and rewards management through the acquisition of PoshVine. What are Kuku FM and beauty brand Plum up to?

Payments and banking platform Razorpay on Tuesday, September 27, announced its foray into loyalty and rewards management through the acquisition of PoshVine. This is Razorpay's seventh acquisition, and comes after its recent buyout of Ezetap.

PoshVine is a fintech startup that was founded in 2011, and offers payments-linked loyalty and engagement solutions to banks, payment networks, and businesses. Shashank Kumar, the Founder and Managing Director of Razorpay, spoke about what this acquisition means for the company, and the road ahead.

Kuku FM fundraise

Mumbai-based Kuku FM recently raised $21.8 million in its series B1 funding round, led by the Fundamentum Partnership. This fundraise marks Fundamentum's first investment from the recently-launched second fund. Also this is Kuku FM’s second fundraise this year.

The venture raised $19.5 million in March, led by Krafton INC. Startup Street spoke to Kuku FM’s Co-Founder and CEO, Lal Chand Bisu, about its digital-first, tech-led approach, its focus on the 'Bharat' audience and the audio content boom in India.

Plum optimistic

Beauty and skin care brand Plum expects to turn profitable at EBITDA level by the last quarter of this financial year given high operating leverage in the industry. Speaking to CNBC-TV18’s Shilpa Ranipeta, the Founder and CEO of Plum, Shankar Prasad, said they are operationally profitable currently but marginally negative at company level due to experimentation and expansion activity across the board. He also said they expect to clock Rs 700-crore net revenue by FY24 and they are already seeing signs that this festive season will be a blockbuster one.

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