Tag: coming

Educational Startups

Indian Startup News on Instagram: “Edtech company Unacademy has launched a Rs 50 crore employee stock ownership plan (ESOP) buyback programme to provide liquidity to employees. Announcing the development on X, co-founder and Group CEO Gaurav Munjal said the company’s board had approved carving out a cash pool for employees even though the valuation is “significantly lower than our last fundraise”. According to him, eight employees will earn over Rs 1 crore each through the buyback. Seventeen employees will receive more than Rs 50 lakh, and 38 employees to make over Rs 10 lakh from the exercise. Notably, the company will reach out to eligible employees in the coming weeks. #uncademy #edtech #employees #startup #crorepati #indianstartupnews”

Edtech company Unacademy has launched a Rs 50 crore employee stock ownership plan (ESOP) buyback programme to provide liquidity to…

Fintech Startups

Indian Startup News on Instagram: “Fintech lending startup Niro has officially shut down operations after raising $20 million in funding, disbursing $200 million in loans, and partnering with 30 companies over 4.5 years. Co-founder and CEO Aditya Kumar shared the update on LinkedIn, expressing surprise at the closure. “As a first-mover that saw scale quickly, I did not see this coming. We had done impossible: hired incredible teams, raised high-quality capital, while convincing large consumer internet platforms and industry-leading lenders to work with us to unlock value at scale,” he wrote. Niro reached $100 million in assets under management (AUM) within 24 months of launch and saw over 170 million users flow through its platform at its peak. However, Kumar cited regulatory pushback on personal lending, capital constraints, and challenges in pivoting business models as key reasons for the shutdown. #business #shutdown #entrepreneur #lending #startups #news #bengaluru #indianstartupnews”

Fintech lending startup Niro has officially shut down operations after raising $20 million in funding, disbursing $200 million in loans,…