Archive: January 26, 2023

eMudhra Limited reports another quarter of healthy revenue growth at 39.1% y-o-y,4.2% qo-q with EBITDA margin at 35.9%

Bengaluru, India – January 26, 2023: eMudhra Limited (BSE: 543533, NSE: EMUDHRA), a digital trust, digital security, and paperless transformation solution provider, today announced its financial results for the Third Quarter of FY23 ended on December 31, 2022, as approved by its Board of Directors.

Commenting on the second quarter results, V.Srinivasan, Executive Chairman, eMudhra Limited said, “We are pleased to report another quarter of consistent performance with revenue growth of 39.1% % y-o-y and PAT growth of 46.0% y-o-y. During the quarter, the EBITDA margins stood at 35.9% and PAT margins stood at 24.4%.

On trust services, we continue to focus on driving growth through direct sales to retail customers through our online channels and by acquiring and engaging with a larger set of partners who directly deal with end customers. To this end, we will invest in technology and marketing to drive direct customer acquisition. Similarly, we remain focussed on growing eSign and SSL business as more use cases around paperless transformation and cyber security in the government and private sector get implemented.

On Enterprise Solutions, we continue to see healthy demand in India and International markets. In India, the recent amendments to the IT Act allowing property transactions and power of attorney to be digitally signed is giving impetus to newer use cases. In International markets, we continue to pursue opportunities that are greenfield, where customers engage with us from the outset to run paperless transformation programs or for bettering their cyber security posture and where customers are looking for cost optimization as part of their overall cyber security and digital transformation goals. We continue to invest in both technology R&D and sales teams to pursue these opportunities meaningfully.

I am also pleased to announce that eMudhra has been recognized as a “Great Place to Work” by the Great Place to Work institute which is a confirmation of our organization’s culture.”

Key Project Wins

•  Acquisition of a significant customer (a large State-owned entity that is a trusted service and eStamping provider) in the Indonesian market for driving eSignature and eStamping use cases with the introduction of Mobile based digital signatures in the Indonesian market
•  Rollout of our Certificate Discovery product for a very large public sector Bank in India that will enable key and certificate lifecycle management across users, devices etc allowing the bank to secure their infrastructure using PKI technology.

Other Business Highlights

•  Launch of trust services in Kenya with a focus on driving adoption of digital signatures in the initial set of use cases in eGovernance and BFSI
•  Significant enhancements to our online portals and technology to ease partner enrolments, fulfillment and end customer acquisition and offer superior customer support through 360- a degree view of the customer and personalized marketing
•  Expansion of Sales teams including leadership hire in the North American market and on-ground teams in select countries in the Middle East and African markets

PrepInsta shatters pandemic blues, displays a sky-rocketing placement record of over 1,45,000 students in the calendar year 2022

Noida, 26th January 2023: PrepInsta, India’s no 1 and most visited website for placement preparation, and a rising Ed-tech brand display a skyrocketing placement record of over 1,45,000 students in the calendar year 2022. Following the growth momentum of 2021, PrepInsta’s placement offer for 2022 witnessed a significant hike with the highest offer standing at a whopping INR 47 LPA and the average salary reaching 7.4 LPA.

Top product-based companies including Microsoft, Amazon, Cisco, Adobe, Google, and so on as well as top service-based companies such as TCS, Accenture, Capgemini, Hexaware, HCL, Cognizant, Infosys, and so on have offered placement letters to PrepInsta students. In addition, the Ed-tech startup launched 50 plus upskilling courses like AI/ML, Data Science, Power BI, and GIT Hub. Moreover, PrepInsta has started to offer major skill-based courses for companies such as Tata Elxsi, Tech Mahindra, Reliance Jio, and HCL.

Commenting on the record placement, Mr. Atulya Kushik, Co-founder & CEO of PrepInsta in a statement said, “At PrepInsta, we have stepped up our efforts on generating top opportunities for our students by strategizing and implementing new courses in our OTT platform. It is an outstanding feat that over 71000 students have been offered jobs paying more than 10 LPA. This is a testament to the scope of our in-demand placement courses as well as our students’ perseverance and dedication, as they have worked diligently to accomplish this level of success. At the same time, it is critical for us to recognize that many students are yet to secure an offer with a salary higher than 10 LPA. We are working closely with these students, and it is our responsibility to ensure that all of them are offered better opportunities and access to resources so that they can accomplish their set target.”

3100+ students were placed at Amazon, 1500+ at Microsoft, 997 at Adobe, 89,200 at Accenture, 50,600 at Infosys, 35,000+ at Capgemini, 32,700 at Cognizant, 11,400+ at Wipro, 21,500+ at Deloitte, and 91000+ at TCS, among other companies. TCS has distributed approximately 70% of the offer letters to PrepInsta students. Other service-based firms, including Infosys, Cognizant, and Accenture, have distributed offer letters for on-campus recruitment drives and are likely to begin off-campus drives soon.

The engaging OTT subscription model of PrepInsta allows students to pursue more skills by providing access to over 200+ courses. In addition to providing students with placement opportunities, PrepInsta also provides students with internship opportunities across multiple sectors as part of its unique placement policy. PrepInsta, for instance, has partnered with TCS to provide students with TCS iON RIO remote internships. Students have been able to gain much-needed industry skills and knowledge through such internships, keeping them one step ahead in their fields

Save Now Buy Later platform Multipl offers best savings on MakeMyTrip flight bookings

26th January 2023: Flights and vacations are a break from routine and a harbinger of good times. As the country celebrates its 74th Republic day, the World’s first Save Now Buy later platform Multipl in collaboration with Make My Trip is offering massive discounts on flight tickets for users.

To participate, users must create a goal for flight tickets on Multipl apps and invest for 2-6 months. This gets them a flat 7.5% saving on flight bookings via MakeMyTrip. The users must create the flight ticket goal before February 10, 2023. The savings can start from Rs 10,000 and the minimum saving period is from 2 months.

In the offer, users can invest a specific amount for 2- 6 months on the app and earns investment returns on their savings. If they want to buy a ticket, they can convert their goal investment to a gift card from Make My Trip with a 7.5%. In addition, one can also earn investment returns on flight ticket plans, and native offers(non-bank) from Make My Trip will apply.

This offer ensures that one can plan for flight tickets for vacations and festivals later this year, and get investment returns and discounts on plane tickets via Make My Trip by investing in Multipl.

For instance, if a user wants to book her tickets to go home in August and flight tickets are estimated to cost Rs 20,000. The user can create a goal of Rs 18,000 for 6 months and invest Rs 3000 per month. This could translate to Rs 350 in investment returns and Rs 1350 as MMT co-investment benefits, giving the user a discount of Rs 1700.

Talking about the offer, Paddy Raghavan, Co-Founder, of Multipl said “ The collaboration with MakeMyTrip helps Multiple users plan and save smart for their travels. It will ensure people can save up and plan better for their trips and not fall into the debt trap. We are looking forward to helping more Indians travel guilt and debt free on vacations and trips all through the year.”

Multipl has also partnered with MakeMyTrip to provide additional savings on holidays, hotels, and other MMT offerings. The travel with Make My trip goal offers up to 10% savings on bookings.

Pre-Budget expectations from FMCG, Manufacturing & Auto brands – Rage Coffe, Yash Pakka, Myles

 By Mr. Bharat Sethi, Founder & CEO, Rage Coffee

“From this year’s budget, we expect a focus on bolstering the startup economy in India. Despite the spell of low funding and conservative market sentiment, we believe that this year’s budget will provide relief to customers with major modifications to the tax slabs. It would be beneficial for the FMCG marketplace as well, since we are driven by customer sentiments. Resultantly, we also expect greater investment flows into the segment.”

Yash Pakka –

We hope that the budget will be more capex and expansion friendly. Given the urgency for an increase in production capacity, the current need is the filip to promote industrial expansion – Neetika, Finance Head, Yash Pakka Ltd.

Ms. Sakshi Vij, Founder, Myles Cars

Electric Vehicle adoption is at an inflection point in India. While the commercial/logistics sector has seen a good adoption, the individual vehicle owner is still on the fence. If the budget addresses issues such as high initial cost of ownership through incentivizing individual vehicle owners EV adoption will see a boost. Ease of registration, electric bill incentives as well and carbon footprint-saving incentives could be a step in the right direction for individual travelers as well.

nSure.ai Delivers Growth to Digital Commerce Leaders and Boosts YoY Revenue by 280%

Readies 2023 GTM with New Leadership in Sales, Marketing, and Payments Expertise

New York, NY, January 26, 2023 — nSure.ai, a leading AI-powered technology that helps retailers of high-risk digital goods grow their businesses by preventing fraud, today announced three new additions to the organization. Tomer Barel, Pascal Podvin, and Joe Scotto join as Board Advisor, Chief Revenue Officer, and Chief Marketing Officer, respectively. With an expected 16% increase in digital commerce fraud, reaching $48B in 2023, and a challenging set of world economics, the startup is laser focused on bringing the top and bottom-line growth to any organization threatened by high chargebacks, loss of potential new customers, and ongoing fraudulent activity.

Fear of digital fraud is a painful problem that forces retailers to add barriers to their approval processes and bypass entry in new markets they need for customer growth. To add to that, costly chargebacks from the fraud itself have become an unfortunate reality of doing digital business. nSure.ai is confident in its mission and actively accelerating its path to market leadership with its new hires.

As Chief Revenue Officer, Pascal Podvin, will be a central impetus for that revenue growth. He brings both relevancy and market experience from leading worldwide sales for ThreatMetrix, a digital identity platform player which was acquired for $817 million in 2018. Podvin’s prior executive roles range from alliances and sales at large corporations like Peoplesoft and ADP to founder, co-founder, and CEO of several startups.

To fuel demand generation and pipeline, Joe Scotto joins as Chief Marketing Officer. In less than four years, Joe built the marketing engines for two cybersecurity startups that were each acquired by Tenable and Forescout, respectively. His extensive set of skills includes prior roles leading product, field, channel, and brand marketing.
With its focus on payments and fintech, nSure.ai names Tomer Barel to its advisory board. As a senior executive from industry titans Paypal, where he also served as Chief Risk and Data Officer, and from Meta, where he was COO of their digital wallet technology, Barel will provide insights and guidance on how to best serve these critically important markets.

“Following a year of tremendous growth for us in 2022, we are now ready for the next phase of our global go-to-market strategy,” said Alex Zeltcer, CEO and Co-founder of nSure.ai. “Tomer, Pascal, and Joe each have proven track records for turning their expertise into accelerated growth for the many organizations they’ve served, so I’m both delighted and excited to welcome them to the nSure.ai team.”

In 2022, nSure.ai raised a total of $21 million in new funding while increasing transaction volume by 500%. Their focus on AI-driven processes empowers their platform to predict a fraudulent transaction before it occurs, based on various behavioral methods. Once a crime is attempted, nSure.ai blocks the transaction and forces them off the network for good. For any chargeback, whether due to fraud or error, nSure.ai offers a unique 100% chargeback guarantee to help these retailers flourish.

Cardinal Ritter Senior Services Earns Prestigious Memory Care Certification

The nonprofit’s Mother of Perpetual Help residence is the first Missouri community to achieve Teepa Snow’s Positive Approach to Care (PAC) skills certification

(St. Louis, Mo., Jan. 26, 2023) — Cardinal Ritter Senior Services (CRSS) – one of South County’s largest independent and assisted living nonprofit communities – and its Mother of Perpetual Help (MOPH) residence recently became Missouri’s first assisted living and memory care center to earn Teepa Snow’s Positive Approach to Care (PAC) community certification.

MOPH’s entire 80-person staff, from health care workers and administration to dining and activities employees, is now trained in this groundbreaking approach that focuses on brain change and care partnering. The PAC method – a program compiled of more than 30 years of peer-reviewed research from neurology, psychiatry, the social sciences, and adult learning – highlights services that enhance awareness and increase dementia care skills.

Through PAC training, caregivers gain a better understanding of dementia related behaviors, as well as learn positive communication and care partnering techniques that will change the way they approach and interact with someone affected by dementia. These learned techniques are designed to improve daily experiences and quality of life for residents, staff, and family members.

CRSS currently has three memory care communities that serve 66 older adults. Located within the assisted living and skilled nursing communities, CRSS provides specialized care for seniors living with memory loss caused by Alzheimer’s disease or other forms of dementia.

A $6.5 million, 20,000-square-foot memory care community expansion is scheduled to open in January 2023. The state-of-the-art development will feature two separated homelike neighborhoods of 13 residents each for a total of 26 residents.

“This certification emphasizes our commitment to each resident’s overall care in terms of establishing stronger personal connections and enhancing overall interactions,” said Cardinal Ritter Senior Services’ CEO Chris Baechle. “The PAC method is the perfect fit for our community because it integrates the industry’s most cutting-edge solutions when providing memory care services.”

Founded in 1961, Cardinal Ritter Senior Services (CRSS) creates communities that promote the dignity of human life and reflect the spirit of Jesus Christ. Nearly 7,000 of the ministry’s seniors – with 72% of the 2,500 directly served lacking adequate resources – benefit from housing options including independent or assisted living, memory care, affordable apartments, and skilled nursing communities. In addition to its main Shrewsbury campus located at 7601 Watson Rd., the nonprofit has a robust social services department. For more information about CRSS, call (314) 961-8000 or visit www.cardinalritterseniorservices.org.

Equitas Small Finance Bank opens 7 new branches in one day and lives to its Power of 7 Mantra

26 January 2023: Equitas Small Finance Bank Limited, one of the leading SFBs, is opening 7 new branches in different parts of the country. Operations of all 7 branches begin ahead of Republic Day. This time, the Chennai-headquartered bank is spreading its roots in Northern and Western India, including Southern India.

In the Southern region, the bank is opening a branch in Palakkad, Calicut and Cochin. Whereas, in the Northern region, citizens will benefit from the seamless banking experience of new branches of Equitas in towns like Hisar, Panchkula and Hoshiarpur. While North and South India get new branches, Equitas Small Finance Bank also opens a branch in the Andheri region of Mumbai District to serve more customers in the Western part of India.

Elated on the grand opening, Mr. Murali Vaidyanathan, Senior President and Country Head, Equitas Small Finance Bank, said, “We are delighted to announce the openings of 7 branches across India covering the Northern, Southern and Western regions of India. We are confident that our strong product proposition along with power of 7 will cater to the needs of our customers across these 7 branches too. We cater across age band from kids to senior citizen through our differentiated offerings. Besides, we serve our customers through our branches and digital proposition. As we expand our footprints across India, we continue to contribute towards the progress and beyond banking initiatives. In fact, we are proud to be a diverse bank that is connected to the roots and spreads across India through fully equipped branches and digital interface. We look forward to your patronage and support across all locations to create a new era of capital growth along with social capital growth too.”

After the opening of these branches, Equitas Small Finance Bank will have a total of 800+ branches across India. One can locate branch and details via: https://locate.equitasbank.com/ with the launch of these 7 branches across the country, we bring more science to the art of relationship management with 7 reasons to bank with Equitas Small Finance Bank:

1. Earn and save more with 7% better interest and assured returns in your savings.
2. Save more with no maintenance charges
3. Free fund transfers online anytime, anywhere
4. Open savings account instantly with video KYC and go paperless
5. Exciting offers and discounts with a variety of debit cards that matches the lifestyle
6. 17,000+ Bankers across 800+ banking outlets including ATMs that caters to 35+ lakhs customers.
7. Addressing the heart and mind of the consumers through our #BeyondBanking initiatives.