Tag: Flexmoney

Home Credit India launches festive campaign; cashback offers available on EMI card, BFSI News, ET BFSI

Personal Finance

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Home Credit India, a local arm of the international consumer finance provider, has launched its festive campaign #UjjwalKaroFestival, and customers can avail cashback offers from their EMI cards.

Customers can buy products on Flipkart, Myntra, Makemytrip, Titan and other online platforms on EMIs with Home Credit Ujjwal (EMI) Card and get a cashback through Flexmoney upto Rs. 3000 on their purchases. They can avail offers while shopping at Home Credit partner stores as well.

The offer is valid on both online and offline platforms with products across consumer durables, like fashion, travel, jewellery etc.

Vivek Kumar Sinha, chief marketing officer at Home Credit India, said; “We have observed a huge change in consumer buying habits over these last two years with brands investing in partnerships to boost up the festive spirit.”

The campaign went live on its social media platforms including Facebook, Twitter, LinkedIn and YouTube, along with OTT platforms like Hotstar and SonyLIV.



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ICICI Bank offers cardless EMI facility for online shopping, enhances affordability, BFSI News, ET BFSI

Banking & Finance

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ICICI Bank announced that it has introduced the instant ‘Cardless EMI’ facility to online purchases made on e-commerce platforms. Millions of the Bank’s pre-approved customers will benefit from the facility, which allows them to buy products or services online through Equated Monthly Instalments (EMIs) in only a few clicks using their mobile phone and PAN. The facility can be availed across a host of categories such as electronics, home appliances, laptops, mobile phones, travel, fashion apparels, sports wear, education and home decor.

The Bank has tied up with digital lending platforms namely FlexMoney and ShopSe to offer this facility across 2,500 brands including Bata, Bajaj Electricals, Career Launcher, D Décor, Decathlon, Duroflex, Flipkart, HealthifyMe, Henry Harvin Education, Kurl-on, Lenovo, Lido Learning, Myntra, Makemytrip, Morphy Richards, Nokia, ONLY, Panasonic, Pristyn Care, Raymonds, Simplilearn, Tata Cliq.

Sudipta Roy, Head- Unsecured Assets, ICICI Bank said, “Our customers can shop from over 2,500 e-commerce merchants and brands just by using mobile phone and PAN. The new offering improves affordability to millions of our customers as they can purchase high-value products on EMIs and in a secure, convenient, instant and digital manner.”

Yezdi Lashkari, Founder & CEO of FlexMoney Technologies said, “We are delighted to partner with ICICI Bank and enable their customers to shop with ‘Cardless EMI’ at their favourite e-commerce merchants and brands. We share ICICI Bank’s vision that the future of purchase finance will be a frictionless, integrated, and cardless digital credit checkout experience for the consume”

Pallav Jain, Co-founder & CEO, ShopSe added, “We are proud to get an opportunity to partner with ICICI Bank on their innovative and first-of-its-kind Cardless EMI product. It’s been a delight working with ICICI Bank team, which is equally passionate about the experience at the point of purchase.”



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Flexmoney raises $4.8 million in Series A funding

Banking & Finance

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Flexmoney, a digital credit network platform for lenders and merchants, has raised $4.8 million in Series A funding, led by Pravega Ventures with participation from Silicon Valley-based Z5 Capital.

The round also saw participation from several marquee individual investors including Ben Davey, former Group Head of Strategy, Barclays Bank & CEO Barclays Ventures; Mike Smith, former Chief Product & Technology Officer, Barclays Ventures & Director, Amazon Core Display Ad Platform; Ambarish Malpani, successful serial entrepreneur and technologist and Rishad Byramjee, Group MD and CEO Casby Logistics & Board Member, Centrum Group.

Flexmoney aims to use the funds to scale its credit network footprint to more lenders and merchants, launch additional products and consolidate its position. Flexmoney had previously raised seed funding from multiple global and domestic angel investors.

Nanda Krish, General Partner at Z5 Capital, said: “InstaCred by Flexmoney is already the largest ‘Buy Now, Pay Later’ platform in India, and the need and potential for this Internet credit infrastructure spans across even more global markets. We’re proud and excited to partner with Flexmoney to scale up and revolutionise the credit ecosystem in India and across the globe”.

Yezdi Lashkari, Founder and CEO of Flexmoney Technologies, said, “Flexmoney’s digital credit platform provides a seamless and secure ‘plug and play’ proposition for trusted lenders and merchants to offer the widest set of options for frictionless, secure, instant checkout finance to their customers and is transforming their purchase experience. With this funding, we are one step closer to achieving our vision of simplifying and democratising consumer credit in India”.

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