1947 Tech — Week 29
A few good articles and tweets that I came across this week..
1. A Big Funding: India’s BookMyShow pulls in $100M to grow its online ticketing business
BookMyShow, an online ticketing service for cinemas, theatres and sports in India, has pulled in $100 million in new capital for growth.
The Series D round was led by private investment firm TPG Growth and it included participation from undisclosed existing investors. BookMyShow, which is headquartered in Mumbai, has now raised a total of $225 million from a range of backers that include Accel, SAIF and New York’s Stripes Group.
2. A research report: A $1 Trillion opportunity over the next 5 years in India in digital lending space
The online lending has been a buzz work for a while in the west. It has moved to India as well. There are few fundamental drivers which are all coming together to turbo charge digital lending in India. These are:
The changing consumer behavior
Technology advances and big data
Enabling regulatory enviornment
Innovative operating model
Read the full research report here
3. Cashless economy: India is moving towards cashless economy
Credit card usage is growing in India exponentially. The issuance of credit cards is growing 30+% year over year.
4. A chart 📈: China and India Smartphone users (Mn)
India today is where China was 6 years ago.
