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Xiaomi becomes the youngest company on the Fortune Global 500 list for 2019

Chinese smartphone manufacturer Xiaomi Corporation has become the youngest company on the Fortune Global 500 list for 2019, ranking 468th. The nine-year-old company ranks 7th in the Internet Services and Retailing category. The company generated revenue of $26,443.50 million and a net profit of $2,049.10 million in the previous fiscal year. Xiaomi is currently present in over 80 markets globally. Src: https://bit.ly/2M5B89D

Kudos to @Xiaomi

OYO to fund Rs 45 crore to 2000 hotels under the cash in bank initiative

OYO has launched cash in bank facility for its asset owner partner across India under the company's ongoing OYO Partner Engagement Network initiative. It aims to support hotel owners' success and customer satisfaction through quality upgrades and renovations. The company said it will further infuse capital of more than Rs 6000 crores over the coming six months for enhancing design and infrastructure. OYO has also penalized more than 1,000 hotel owners for not being able to meet the quality norms under OYO’s 3C evaluation programme focusing on quality accommodation. Src: https://bit.ly/32MojXZ

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Paytm partners with Clix Capital to offer instant short-term digital loans

Paytm has partnered with Clix Capital to offer loans. The loans will be extended through Paytm Postpaid as a deferred payment option for consumers. Paytm and Clix have developed proprietary machine learning models through which Paytm customers and merchants will get instant digital loans on the Paytm platform. To provide loans to its users, Paytm needs such tie-ups, as it is not a certified NBFC. Tata Capital and Indifi are among Paytm’s other NBFC partners. Src: https://bit.ly/32KtQ17

Kudos to @Paytm

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Visa invests in Paymate to expand B2B payments in India

Recently Visa Inc. participated in a $25 million round of funding for Paymate, a Mumbai based B2B payments company. It has made a strategic investment in Paymate. The funding will be used to expand Paymate's domestic and international business. Visa and Paymate announced a deal in January 2018 that would allow Visa corporate customers to use Paymate to make routine payments in India. Paymate has about 35,000 customers and the company processes about $5 billion payments per year. Src: https://bit.ly/2y48v4x

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