Tag: healthtech

PayU’s LazyPay goes live with EMI option for merchants, BFSI News, ET BFSI

Banking & Finance

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LazyPay, a Buy Now Pay Later (BNPL) solution by PayU Finance, has gone live with ‘LazyPay EMI’ where merchants can offer instant cardless-EMI option to their consumers for ticket size upto 1 lakh, the company said in a release.

LazyPay has also integrated with PayU payment gateway to tap into 3.5 lakh merchants. It plans to directly onboard 1,000 merchants across segments such as EdTech, insurance, EVs, home furnishing and HealthTech by March 2022, it said.

“Covid has globally changed consumer preferences for credit, with millions of consumers opting for interest-free credit at checkout points on online platforms, and facilitator. In the next two years we expect our BNPL EMI product to be the largest contributor to the overall credit disbursals by LazyPay,” said Anup Agrawal, business head of LazyPay.

LazyPay EMI plans to meet the credit gap in India’s market, which has 150 million users transacting digitally but only 30 million consumers having credit cards.

EMIs range from three-12 months with zero to minimal interest. The process of lending credit is independent of a person’s credit score and is therefore more inclusive of new-to-credit consumers.



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Dhani raises Rs 1,200 crore by selling 9% stake to a clutch of investors, BFSI News, ET BFSI

Personal Finance

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New Delhi, Fintech and healthtech start-up Dhani on Wednesday said it has raised Rs 1,200 crore by selling 9 per cent stake to a clutch of investors, including its founder and General Catalyst. Dhani Services Ltd (Dhani), one of the fastest growing transactional finance and primary healthcare platforms, announced an equity raise of Rs 1,200 crore for a 9 per cent stake, the company said in a release.

The leading investor in the equity raise is General Catalyst from the Silicon Valley, which has invested Rs 375 crore. The founder of Dhani is also investing Rs 375 crore alongside other investors, including Ribbit Capital in the preferential round.

Company’s flagship product — OneFreedom Card — provides an instant credit limit along with a bouquet of additional benefits.

It offers services such as access to doctors, discounted medicines, instant cashbacks, free trading account and many merchant offers at a nominal monthly subscription fee starting at Rs 250.

Dhani Services Ltd (formerly Indiabulls Ventures) operates through its app Dhani and provides transaction finance and digital healthcare to its customers. It has a customer base of 3 crore customers spread across 500 cities in the country.



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