Catalyst Group Registers 50% Rise in Admissions Since the Inception of Lockdown Across Indian Cities

Highlights

* Lucknow, Delhi and Patna emerge as the top cities to witness highest admission numbers
* Daily watch minutes of students also increase by over 80% with more and more students joining the platform every day
* UPSC and SSC becomes the most trending courses during the lockdown

Catalyst Group, India’s leading online learning platform has recorded a 50% hike in admissions on its online platform in the last 15 days since the inception of lockdown. The top cities that witnessed the highest admissions across India are Lucknow Delhi and Patna. The platform has also seen an uptick in the daily watch minutes of students by over 80% as more and more students switch to online classes every day.

Amongst all the courses that students have been opting for, UPSC and SSC have become the most trending ones. In a bid to help students continue with their preparations for the upcoming competitive exams, the online learning platform is also providing free courses to aspirants of Civil services, SSC CGL, Indian Engineering services and GATE.

“Although these are trying times for everyone, students can take it as an opportunity to enhance their learning curve. It is rather an opportune time for them to complete their syllabus and prepare for various upcoming competitive exams. While offline classes are on hold, students should best utilize the online learning tools by joining various online courses, where many of them are also accessible at no cost”, commented Akhand Swaroop Pandit, CEO & Founder, Catalyst Group.

He also added, “Online learning is not new in India; however, the lockdown period can prove to be a turning point for many players in this space. It’s the right time they can leverage the power of the internet and advanced learning tools to improve their online offerings and make education accessible even to the underserved masses. As more students turn to online courses, players have an opportunity to reshape the overall learning process and align it with the needs of a new economy.”

CoutLoot Joins the Battle Against COVID-19; Launches an “Essentials” Service Category on its Platform

Mumbai-based social e-commerce start-up and offline-to-online enabler CoutLoot has recently introduced an “Essentials” service category on its platform.The new category will leverage CoutLoot’s extensive offline seller network to safely deliver or self pick up of essential goods sold through its platform. With India currently undergoing a protracted lockdown to contain the spread of the coronavirus threat, the move comes as a much-needed relief, as it will make essential goods more accessible and available to consumers across the country. CoutLoot already has 4 lakh+ sellers who sell online through CoutLoot’s platform by creating their own online store

CoutLoot has listed several grocery shops, medical stores, Vegetable vendors etc. on its platform, allowing consumers within a 1-3 kilometre radius to place orders for essential household by either picking them up from the store or getting them home delivered. To further add to the ease and convenience, CoutLoot users can also post the essential items needed which may not be available or be out of stock that will notify nearby sellers about the demand, create a chat with them & fulfil the order. The platform is also strengthening the supply chain through its B2B business vertical which provides both International & domestic supply directly to offline sellers to ensure that the demand-supply gap is minimized during& post the COVID-19 lockdown. Currently, CoutLoot has added over 50,000+ essential stores with an aim to have nearby store available to users in all major Tier1,2,3 cities.

JasmeetThind, Co-founder - Coutloot,said, “To combat an unprecedented crisis such as the novel coronavirus outbreak, we need to come together as a community and support each other, in whatever way we can. The launch of the “Essentials” category on the CoutLoot platform is our way of ensuring that consumers do not struggle for essential household items during the COVID-19 lockdown. Accessibility is available it just needs to be organized, in times like these, discovery of essential supply becomes an enabler to consumers and retailers both who will be struggling with chaos and supply shortage. With our team of 70+, we are also ensuring that supply chain disruptions remain minimal and Indians have easy, safe and on-time access to the items that they need on a daily basis.”

Tinder Opens up its Paid Feature Passport for All Members; Travel Virtually Anywhere in the World to Meet New People

(Note on background: Tinder Passport is typically a paid feature for Tinder Plus & Gold subscribers. Members can search by city or drop a pin on the map and you can begin Liking, matching and chatting with Tinder members in a destination of their choice. They can navigate between their current location and new destinations. This is now available for free to all Tinder members.)

In this unprecedented time, people are feeling a potent mix of anxiety, loneliness, and uncertainty. The mix of self-isolation and WFH means we’re missing out on the everyday exchanges that make us human. And even though we’re socially distancing, this hasn’t meant disconnecting for Tinder members. As parts of the world went into lockdown, members started Passporting into other parts of the world.

Tinder members around the world have stepped up for each other in amazing ways. Rates of Passport use were up over the last week of March before Passport was widely available for free. India saw a 25% increase in the rate of Passporting to other parts of the world, Germany recorded a 19% increase, France: 20% and Brazil: 15%.

There were 3+ billion swipes on Sunday, the 29th of March before Passport was widely made available. This is more than on any single day in the history of Tinder.

Globally more members are swiping right on someone new, having more conversations overall, and those conversations are lasting longer. Daily conversations have been up an average of 20% around the world, and the average length of the conversations is 25% longer.

“I’m happy we’ve been able to make our Passport feature, which allows you to connect with anyone, anywhere in the world, available for free to all members,” said Elie Seidman, Tinder CEO.  “We hope our members, many of whom are anxious and looking for more human connection, can use Passport to transport themselves out of self-quarantine to anywhere in the world. We’re inspired by how people are using Tinder to be there for each other, and we want to fan these flames of social solidarity.”

Tata Motors Launches ‘Click to Drive’ – a Contactless Sales Platform

Tata Motors launches ‘Click to Drive’, an end to end full online sales experience enabling customers to buy a Tata Motors car with a click of a button from the comfort of their homes. This platform has been integrated with all Tata Motors dealers from more than 750 outlets across the country and will also offer vehicle home delivery for our customers at a later date.

Customers can now book their car in just a few clicks by following the steps below:

* To buy their car, customers can simply register on the ‘Click to Drive’ website and select a product of their choice from the Tata Motors’ passenger vehicle portfolio with the assistance of an innovative video brochure. The video brochure helps customers discover each car and its features.

* The newly launched Tata Altroz also comes with an immersive virtual showroom experience, called Imaginator, allowing customers to customize the vehicle by selecting from a range of variants and colors as well as factory customization options.

* Once the customer makes his vehicle selection, they can then select the dealer nearest to them or preferred dealer from any of our 750 + outlets across the country, for either home delivery or click & collect at dealership, at a later date.

* The customer can pay the booking amount online, post which the customer receives an immediate order confirmation by e-mail and is then guided on the step-by-step buying journey by the Tata Motors call centre and a sales consultant from their preferred dealership.

* Moreover, customers can avail financing and exchange services, details on price quotes and exciting offers on the Tata Motors product range.

* The entire sales process is completed virtually using online communication tools such as emails, WhatsApp and video calls.

To access the platform, customers can visit https://cars.tatamotors.com/click-to-drive.

To view a tutorial of how the sales process works, please visit https://www.youtube.com/watch?v=OLvSTlqDhEc

Capital Float Raises $15 Million in Equity Funding from Existing Investors in India

Capital Float, the leading digital lender in India, announced that it has completed a $15 Million (INR 110 crore) equity fundraise from its existing investors. Participants in the round included Ribbit Capital, Amazon, SAIF Partners, Sequoia Capital India. The company will be using these funds to bolster its capital base and expand its lending operations to SMEs and Consumers. With this new addition, the total equity raised by Capital Float till date stands at $125 Million (INR 800 crore). The company has also raised $300 Million (INR 2,200 crore) in debt funding to date.

Since its inception, Capital Float has disbursed over $1.2 Billion (INR 8,800 crore) and has more than half a million customers in India. The company’s customer base is spread across 300 cities in the country, and includes both SME and consumer borrowers. In SME financing, Capital Float is focused on building its loan book with its latest product called FAST loans (Fully Automated Small Term Loans). This fully digital financing solution is designed to serve the working capital needs of SMEs in India, with a strong focus on Tier 2 and Tier 3 markets. The company is also scaling its Consumer finance vertical with the Online Checkout Financing product, where Amazon is a major partner, and its Personal Finance Management (PFM) app called Walnut. In addition to offering a personal credit line, Walnut also recently launched a digital COVID insurance product and a “Find a Store” feature to help users during the current lockdown period.

“The latest funding round with the help of the existing partners has signalled strong support and trust in Capital Float’s vision of scaling up digital financial inclusion in India. At a time when the industry is faced with multiple challenges, we are grateful for this reinforcement and want to continue making lending effortless for SMEs and Consumers across the nation. We’re eager to significantly increase our lending capacity once the lockdown is lifted to enable SME growth and consumer spending at scale” said Sashank Rishyasringa & Gaurav Hinduja, Co-Founders of Capital Float, in a joint statement.

‘Feed My City’ Initiative is Providing Meals in Bangalore Already Serves 2 Lakh Meals and Targeting 3.5 Lakh Meals

Continuing its efforts to strengthen the fight against COVID-19, India’s leading digital payments & financial services platform, Paytm has partnered with KVN Foundation to serve meals to migrant workers and daily wage earners. Together, they are already providing 25,000 meals to people in Bangalore every day and are targeting to serve 3.5 lakhs meals in the coming weeks. Paytm is also requesting fellow citizens to support the cause by logging on to their Paytm app and clicking on the ‘Feed My City’ tab.     

Besides Bangalore, meals are also being served in Noida, Mumbai, Hyderabad and Chennai to people who have lost their source of income due to the lockdown in the country. People donating for the 'Feed My City' initiative can also choose the city for which they wish to contribute. 

Siddharth Pandey, Vice President, Paytm said, “The livelihood of daily wage earners has been affected during this lockdown. We wanted to help them and ensure that their children and families do not go hungry. Our partnership with the KVN Foundation is a step in this direction. We will continue to work towards providing relief to the ones who cannot fend for themselves.”

“During this crisis, the daily wage worker, migrant worker and those without any safety nets, steady income, insurance or savings have been the worst affected, without any hope or relief. In countless little ways, all these people add value to our lives on a daily basis. We can’t have a full meal knowing fully well that millions of these people are starving to death. Paytm has now made it possible to contribute easily to this cause, to the city of your choice. We request you all to contribute generously to ensure that no lives are lost due to hunger during this lockdown period”, added KVN Foundation.

Over the last few weeks, Paytm has launched several initiatives to fight the spread of the Coronavirus. The company is aiming to contribute Rs. 500 Crores to PM CARES Fund, and has already collected over Rs. 80 crores within the first week. Also, the company is distributing personal hygiene products, such as hand wash and sanitizers to people who do not have the means to buy it.

Paytm's New COVID-19 Insurance Covers Loss of Pay, Quarantine Expenses, and Treatment Costs

Highlights

* Policy launched in collaboration with Reliance General Insurance
* In case of testing positive for Coronavirus, 100% sum insured to be given
* Completely online & hassle-free process with zero manual documentation

India’s leading digital payments & financial services platform Paytm (owned by One97 Communications Limited) today announced the launch of COVID-19 Benefit Insurance Policy in collaboration with Reliance General Insurance, which provides the widest possible coverage. This insurance plan offers a best-in-class sum assured a maximum of Rs. 2 lakhs.

The COVID-19 Protection insurance is a much needed product in the market. From covering against positive diagnosis, 14-day quarantine, loss of pay/job, it also offers a waiver to the 45 days Travel exclusion policy as add-ons. It aims at reducing the financial implications one might occur due to the pandemic.

The policy provides 100% sum-insured in lumpsum on being tested positive for the virus and the patient does not need to wait for the entire treatment to get completed to receive the financial help. The policy covers individuals between the ages of 3 months to 60 years, with a wide range of sum-insured options ranging from Rs. 25,000 to Rs 2 lakhs.

The entire process of purchasing the policy is quite hassle-free and the users do not require extensive or any manual documentation. The policy can be bought by following a few simple steps on the Paytm app.

Paytm COVID-19 Insurance covering all eventualities
* 100% of Sum Insured given incase of Covid-19 positive case Quarantine Cover, Loss of Job, Loss of Pay, Travel Exclusion * Cover as Addons with additional
* Premium Age eligibility: 3 months to 60 years, 100% digital claims process

Amit Nayyar, President- Paytm said, "In these unprecedented times, everyone needs to take extra precautions to safeguard personal, their family as well as community's health. With our COVID-19 Benefit Insurance Policy, we aim to provide simple health insurance coverage that will take care of most expenses that a Coronavirus patient might have to incur. The digital policy can be purchased on the Paytm app and is generated online within a few minutes from the safe confines of one's home."

Commenting on this development, Rakesh Jain, ED & CEO, Reliance General Insurance said, “Looking at the current scenario, COVID-19 Protection Insurance is a much-needed product in the market. During these trying times, RGI believes its duty to ensure mass coverage for India to combat this large-scale crisis. Our digital partnership with Paytm to ensure access to its millions of users across the length and breadth of the country is one of the ways we are removing the barriers to COVID-19 diagnoses and treatment.”

The COVID-19 Benefit Insurance Policy has a validity period of one year and there are multiple plans that can one opted depending on one’s need. The waiting period is for 15 days before one can claim against the policy.