Latest news with #Quid
Business Standard
20-05-2025
- Business
- Business Standard
Fintech Startup Quid Shoots Past 5 Million Users in Under a Year
PNN New Delhi [India], May 20: The Mumbai-based AI-powered fintech platform and marketplace, Quid, has achieved a noteworthy milestone, surpassing 5 million users within one year of its launch on the Google Play Store. Quid, an AI-powered fintech marketplace, makes borrowing accessible to every Indian and bridges the much-needed gap between borrowers and RBI-approved banks & NBFCs. The new-age fintech startup streamlines the process for individuals and business owners to discover financial products, which include unsecured personal loans, business loans, and credit cards tailored to their requirements, while empowering non-financial apps with tech uplift to drive digital growth. Founded by Jitesh Shah in early May 2024, who holds over 20 years of industry expertise in scaling multinational financial companies and marketplaces, said, "We identified a major gap when it comes to accessibility to financial opportunities between individuals aged 20 - 50 and lending institutions. At Quid, our mission is to bridge this gap with a platform that delivers transparency, convenience, and easy access to credit on a single platform." The fintech platform distinguishes itself from other players with its AI-driven tech stack, such as the Personal Loan Matchmaker that allows borrowers to find financial products tailored to their requirements. The most striking feature of using the Quid app is that an applicant can complete the loan application process in just under 59 seconds.* "We believe in an embedded finance ecosystem where users can manage their financial needs without juggling between multiple platforms. Quid delivers this seamless experience and puts the power of choice and convenience in the hands of our users," Shah added. The fintech platform is already working on its next phase of evolution. "We are addressing the challenges of rising NPAs (Non-Performing Assets) for lending institutions by developing and testing AI-driven recovery solutions with our partners," said Shah. The Quid app is steadily growing its user base and has a robust 4.5-star rating on the Google Play Store. Following its success on Android, it plans to soon launch on the iOS App Store. The fintech platform remains focused on advancing financial literacy, improving credit accessibility with next-gen solutions, and promoting financial inclusivity for underserved and emerging segments of the Indian population.
Indian Express
24-04-2025
- Business
- Indian Express
Top 10 countries by total AI investment (2025): Where does India rank globally?
Driving the next technology revolution, private AI investment globally has consequently grown substantially in the last decade as countries position themselves for the future. Global Private Investment in AI (2013-24): It increased by 44.5% between 2023 and 2024, the first year-over-year growth since 2021. | Source: Stanford AI Index 2025 In a notable mention, the U.S. raised nearly half a trillion dollars in private investment in AI, higher than the rest of the world combined from 2013 to 2024, according to the same report. Further, China also made substantial AI investments totalling $119.3 billion, with the UK following next with $28.2 billion of investment. Alongside them, Canada and Israel made significant contributions, investing $15 billion in AI over the past decade. Stanford AI Index 2025: Top 10 countries by global private AI investment, 2013–24 (sum) There is a wide gap in private investments between the United States and other regions; China witnessed a slight decrease of -1.9%, while Europe has seen a massive increase of +60% since 2023. Other than the top 10, countries like Israel ($15.0 billion), Singapore ($7.3 billion), Sweden ($7.3 billion), Japan ($5.9B), Australia ($4B), Switzerland ($3.9B), and the United Arab Emirates ($3.7B) have attracted significant AI investments over the past decade. Rank Country Total Investment (in USD, Billions) 1 United States 470.9 2 China 119.3 3 United Kingdom 28.2 4 Canada 15.3 5 Israel 15 6 Germany 11.3 7 India 11.1 8 France 9 9 South Korea 7.3 10 Singapore 7.3 Source: Quid, 2024 | Chart: 2025 AI Index report India's Position Explained: India is making impressive progress in the global AI landscape, significantly boosting its startup ecosystem. The country is home to over 240 generative AI startups and is heavily investing in private funding for artificial intelligence (AI). According to a recent Stanford report, India attracted $1.16 billion in private AI investments in 2024; furthermore, from 2013 to 2024, the total amount of private investments in AI in India reached $11.29 billion, Stanford's report highlights.
