Fintech Startup POP Raises USD 30 Mn from Razorpay
The funds will be deployed to enhance product innovation, strengthen POP's loyalty-focused offering via its POPcoins rewards currency, and deepen partnerships with D2C and lifestyle merchants.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Bengaluru-based fintech startup POP has announced the raising of USD 30 million in funding from Razorpay, a full-stack financial services platform, marking a strategic move to revolutionise the country's digital payment and commerce landscape.
The funds will be deployed to enhance product innovation, strengthen POP's loyalty-focused offering via its POPcoins rewards currency, and deepen partnerships with D2C and lifestyle merchants.
Founded in 2023 by former Flipkart executive Bhargav Errangi, POP is a rewards-first consumer platform that merges UPI payments, a D2C-focused marketplace, and a co-branded RuPay credit card into one seamless ecosystem. At the heart of its offering is POPcoins, a brand-funded rewards currency that users earn through UPI payments, in-app shopping, or by using POP's RuPay credit card, and redeem across a growing network of partner merchants.
Since launching its UPI platform in June 2024, POP claims to have quickly scaled to over six lakh daily UPI transactions, one million monthly active transactors, and over two lakh monthly commerce shipments. It has also issued 40,000+ co-branded RuPay credit cards in partnership with Yes Bank.
"India doesn't need another cashback-only rewards app. We need a new rewards economy built on long-term purpose. POPcoins are designed to build habits, increase retention, and reduce CAC for merchants—all while making payments more rewarding," said Bhargav Errangi, Founder of POP. "With Razorpay's support, we will double down on our mission to build a loyalty-first payments ecosystem that helps businesses scale with purpose and speed."
The investment signals Razorpay's deeper push into loyalty, engagement, and commerce enablement. "In today's crowded D2C space, brands need more than just payment solutions. POP bridges the gap with a powerful platform that turns everyday transactions into lasting relationships," said Harshil Mathur, Co-founder and CEO of Razorpay.
The deal complements Razorpay's acquisition of PoshVine and aligns with its vision to empower merchants through Razorpay Engage, India's first intelligent marketing growth suite.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
34 minutes ago
- Yahoo
Car-sharing giant Zoomcar says hacker accessed personal data of 8.4 million users
Indian car-sharing marketplace Zoomcar has revealed that a hacker accessed the personal data of at least 8.4 million customers, including their names, phone numbers, and car registration numbers. The Bengaluru-headquartered company identified the incident involving unauthorized access to its information systems on June 9, per its filing with the U.S. Securities and Exchange Commission. The company stated that it became aware of the incident after some of its employees received external communications from a threat actor who claimed to have gained access to the company's data. 'Upon discovery, the company promptly activated its incident response plan,' said Zoomcar in its filing. The company said there was 'no evidence that financial information, plaintext passwords, or other sensitive identifiers' were compromised in the breach. Responding to the incident, Zoomcar said it implemented 'additional safeguards across the cloud and internal network, increasing system monitoring, and reviewing access controls,' without providing further details. The company also stated that it is engaging with third-party cybersecurity experts and has notified 'appropriate regulatory and law enforcement authorities and is cooperating fully with their inquiries.' However, Zoomcar has not yet said if it has informed affected customers about the incident, and whether it has any information about the hacker. TechCrunch has reached out to Zoomcar, asking these questions and more, and will update this article when the company responds. Founded in 2013, Zoomcar allows customers to rent cars on a monthly, weekly, daily, and hourly basis. The company operates in 99 cities with over 25,000 cars and has more than 10 million users, per the data available on its investor relations website. In addition to India, the company operates in Egypt, Indonesia, and Vietnam. In February, Zoomcar reported a 19% year-on-year increase in car rentals to 103,599 bookings. Contribution profit jumped over 500% to $1.28 million, while net loss stood at $7.9 million. 'To date, the incident has not resulted in any material disruption to the company's operations,' the company said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
36 minutes ago
- Yahoo
Rocky Mountain Chocolate: Fiscal Q4 Earnings Snapshot
DURANGO, Colo. (AP) — DURANGO, Colo. (AP) — Rocky Mountain Chocolate Factory Inc. (RMCF) on Tuesday reported a loss of $2.9 million in its fiscal fourth quarter. On a per-share basis, the Durango, Colorado-based company said it had a loss of 37 cents. The confectionery producer and retailer posted revenue of $8.9 million in the period. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on RMCF at
Yahoo
37 minutes ago
- Yahoo
Tsakos: Q1 Earnings Snapshot
ATHENS, Greece (AP) — ATHENS, Greece (AP) — Tsakos Energy Navigation Ltd. (TEN) on Tuesday reported net income of $37.7 million in its first quarter. On a per-share basis, the Athens, Greece-based company said it had net income of $1.04. Earnings, adjusted for non-recurring gains, came to 92 cents per share. The oil and gas shipping company posted revenue of $197.1 million in the period. Its adjusted revenue was $161 million. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on TEN at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
