logo
Fireside-Backed 10Club Files for Insolvency Amid Roll-Up Model Challenges

Fireside-Backed 10Club Files for Insolvency Amid Roll-Up Model Challenges

Entrepreneur09-05-2025

According to RoC filings, 10Club is moving for insolvency as its assets are not sufficient to pay off its debts.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Thrasio-style ecommerce marketplace 10Club has filed for insolvency proceedings before the National Company Law Tribunal (NCLT), marking a significant setback in the roll-up ecommerce space.
According to filings with the Registrar of Companies (RoC), the Fireside Ventures-backed startup is initiating the Corporate Insolvency Resolution Process at the Bengaluru bench, citing that its assets are insufficient to pay off debts.
Founded by Bhavna Suresh, Deepak Nair, and Joel Ayala, 10Club made headlines in 2021 with a USD 40 million seed round—one of the largest in India. A year later, it raised another USD 30 million from US-based Olive Tree Capital and existing backers.
10Club's model involved acquiring small businesses, retaining core teams, and scaling them under a single operational umbrella. In October 2023, the company announced a strategic pivot to build a consolidated home and kitchen brand. It also onboarded retail veteran Kavitha Rao as co-founder and COO in January 2024 to drive growth.
However, despite early momentum, the model has faced headwinds. Industry peers like the Good Glamm Group have also seen roll-up bets falter, with recent brand divestitures occurring at steep losses. 10Club's insolvency underscores the volatility in scaling D2C brands through acquisition-led strategies.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Pixxel Secures Second Defence Grant to Develop Advanced Space Imaging Payloads for IAF
Pixxel Secures Second Defence Grant to Develop Advanced Space Imaging Payloads for IAF

Entrepreneur

time41 minutes ago

  • Entrepreneur

Pixxel Secures Second Defence Grant to Develop Advanced Space Imaging Payloads for IAF

The iDEX scheme, under the Ministry of Defence, is designed to spur the development of prototypes and advanced technologies by startups and small enterprises You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Pixxel, a space technology company headquartered in Bengaluru, has secured a second grant under the Indian Ministry of Defence's iDEX (Innovations for Defence Excellence) initiative, aimed at accelerating indigenous innovation for the country's defence forces. The new SPARK Grant—awarded to its subsidiary, SpacePixxel Pvt Ltd—will support the development of hyperspectral and Mid-Wave Infrared (MWIR) payloads for the Indian Air Force. The award, part of the iDEX DISC 8 Challenge 6.2, marks a continued collaboration between Pixxel and the Indian defence ecosystem. It builds on the company's earlier selection under the iDEX Prime (Space) Mission DefSpace Challenge in 2023, which focused on miniaturised multi-payload satellite development. Pixxel, known for constructing what it claims is the world's highest-resolution hyperspectral satellite constellation, said it will now focus on delivering security-grade imaging technology designed for both airborne and space-based platforms. These next-generation payloads are expected to enhance India's remote sensing capabilities, enabling high-precision monitoring and analysis in strategic scenarios. "This grant is a proud milestone in our journey to put India at the forefront of next-generation aerospace innovation," said Awais Ahmed, founder and CEO of Pixxel, in a statement. "We're honoured to deepen our partnership with the Government of India and advance our mission of building cutting-edge space infrastructure right here at home." Hyperspectral imaging technology captures detailed spectral data across hundreds of wavelengths, offering advantages in detecting materials, identifying terrain changes, and monitoring environmental or military assets. The addition of MWIR capability would allow for enhanced thermal imaging, critical in low-light or night-time operations. The iDEX scheme, under the Ministry of Defence, is designed to spur the development of prototypes and advanced technologies by startups and small enterprises. Pixxel's repeated selection for support highlights the government's growing trust in the company's technical expertise and manufacturing capabilities. With three satellites already in orbit and more expected to launch, Pixxel has been steadily expanding its footprint in the space-based Earth observation sector. Its in-house platform, Pixxel Aurora, offers users tools to visualise and analyse hyperspectral data for a range of applications. However, the company has remained focused on its core objective: developing a real-time, high-resolution monitoring system for the planet with dual-use potential for civilian and defence stakeholders.

Malaysia Prepaid Card and Digital Wallet Intelligence Report 2025: Market to Grow by 14.1% to Reach $9.18 Billion this Year - Future Growth Dynamics to 2029
Malaysia Prepaid Card and Digital Wallet Intelligence Report 2025: Market to Grow by 14.1% to Reach $9.18 Billion this Year - Future Growth Dynamics to 2029

Yahoo

timean hour ago

  • Yahoo

Malaysia Prepaid Card and Digital Wallet Intelligence Report 2025: Market to Grow by 14.1% to Reach $9.18 Billion this Year - Future Growth Dynamics to 2029

The sector, with a 17.1% CAGR from 2020-2024, continues its upward trajectory, driven by digital payments, e-commerce, and mobile technology. Integration with digital wallets enhances market expansion. Malaysian Prepaid Card and Digital Wallet Market Dublin, June 11, 2025 (GLOBE NEWSWIRE) -- The "Malaysia Prepaid Card and Digital Wallet Market Intelligence and Future Growth Dynamics Databook - Q2 2025 Update" report has been added to prepaid card and digital wallet market in Malaysia is expected to grow by 14.1% on annual basis to reach US$ 9.18 billion in 2025. The prepaid card and digital wallet market in the country has experienced robust growth during 2020-2024, achieving a CAGR of 17.1%. This upward trajectory is expected to continue, with the market forecast to grow at a CAGR of 11.5% during 2025-2029. By the end of 2029, the prepaid card and digital wallet market is projected to expand from its 2024 value of US$ 8.04 billion to approximately US$ 14.19 prepaid card market in Malaysia is expanding rapidly, supported by increased digital payment adoption, e-commerce growth, and advancements in mobile payment technology. Integrating prepaid cards with digital wallets further drives adoption as consumers seek seamless and convenient financial solutions. Additionally, businesses increasingly leverage prepaid cards for expense management, streamlining financial operations while improving transparency and the next 2-4 years, the prepaid card market is expected to continue its upward trajectory, with growing consumer trust in cashless transactions and increasing corporate adoption. Financial service providers will likely introduce more tailored solutions, enhancing prepaid card offerings for individual and business users. As competition intensifies and digital infrastructure improves, prepaid cards will play a crucial role in Malaysia's evolving financial ecosystem. Competitive Landscape of the Malaysia Prepaid Card MarketMalaysia's prepaid card market is poised for continued growth, driven by increased digital payment adoption, strategic partnerships, and regulatory advancements. The competitive landscape is evolving rapidly, with traditional banks and fintech firms competing to offer more accessible and innovative prepaid solutions. Over the next few years, prepaid cards will become a key component of Malaysia's digital financial ecosystem. As consumer preferences shift toward more flexible and technology-driven payment methods, companies in the prepaid card sector must focus on innovation, security, and seamless integration with other financial services to remain Market Dynamics This growth is also being supported by the rapid expansion of e-commerce in Malaysia. As online shopping continues gaining traction, consumers turn to prepaid cards as a secure and convenient payment option. The rise of digital wallets and fintech-driven payment platforms further reinforces prepaid card adoption, allowing users to seamlessly integrate prepaid solutions into their daily transactions. Key Players and Market Share The Malaysian prepaid card market comprises established financial institutions and emerging fintech companies. Major banks such as Maybank and Public Bank remain dominant players, offering various prepaid card options tailored for consumers and businesses. These banks continue to innovate, leveraging their vast customer bases to drive prepaid card adoption. In addition to traditional financial institutions, fintech startups are entering the market, introducing innovative prepaid card solutions targeted at digitally savvy consumers. Companies such as Boost and BigPay leverage digital banking infrastructure to provide alternative financial services, including prepaid cards linked to mobile wallets. This growing competition reshapes the industry, driving product diversification and enhanced service offerings. Recent Launches and Partnerships Such partnerships indicate a broader industry trend of integration between traditional financial institutions, fintech companies, and global payment networks. These collaborations foster innovation in Malaysia's prepaid card market by leveraging their collective strengths. As competition intensifies, more partnerships between banks, mobile operators, and fintech startups are expected to emerge. Key Attributes: Report Attribute Details No. of Pages 159 Forecast Period 2025 - 2029 Estimated Market Value (USD) in 2025 $9.18 Billion Forecasted Market Value (USD) by 2029 $14.19 Billion Compound Annual Growth Rate 11.5% Regions Covered Malaysia Reasons to buy In-depth understanding of Malaysia's prepaid card and digital wallet market dynamics: Understand market opportunity, industry dynamics, key trends and drivers across 80+ market segments and sub-segments of prepaid payment instrument, prepaid card, digital wallet and virtual prepaid card. Understand Malaysia's market opportunities and key trends along with forecast (2020-2029). Understand market dynamics through essential KPIs such as transaction value, transaction volume, and average value per transaction. Develop Malaysia's market specific strategies: Identify growth segments and target specific opportunities to formulate your prepaid card and digital wallet strategy; assess market specific key trends, drivers and risks in the industry. Detailed analysis of Malaysia's market share by key players across key prepaid card categories. Get insights into Malaysia's consumer attitude and behaviour: Understand changing consumer attitude and behaviour and boost ROI. Get detailed insights into retail spend through prepaid cards, virtual prepaid cards and digital wallets. For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Malaysian Prepaid Card and Digital Wallet Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error 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

Adani Visits Chinese Equipment Makers as US Legal Woes Linger
Adani Visits Chinese Equipment Makers as US Legal Woes Linger

Bloomberg

timean hour ago

  • Bloomberg

Adani Visits Chinese Equipment Makers as US Legal Woes Linger

Indian billionaire Gautam Adani traveled to China last week to meet industrial equipment manufacturers, marking what appears to be his first overseas trip since the US unveiled criminal and civil cases against him in November. The visit, including to a solar module maker, underscores Adani's continued efforts to maintain momentum in renewables even as he faces heightened scrutiny abroad. Sagar Adani, who oversees the green arm of the conglomerate's sprawling empire, accompanied his uncle on the trip, according to a social media post by one of the companies he visited.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store