Technology
CredAvenue sets up technology development centre in Bengaluru
Debt platform CredAvenue stated that it has set up a new technology development center in Bangalore. The center mainly meets the company’s technical needs, and will have 200 employees by the 2022-23 fiscal year, accounting for nearly 30% of CredAvenue’s overall strength in India. The key areas of recruitment within the technical team include engineering, product, design, data science, and data engineering. The company has offices in Chennai, Mumbai and Delhi with a total of 345 employees.
The Bangalore Center will accommodate the marketing, mobile engineering, lending and user platform teams in the short-term content. “CredAvenue is the first of its kind in the world’s debt platforms. Our platform currently serves more than 1,000 issuers and 200 investors, and has so far achieved USD 8 billion in debt flows. Our goal is to create an unparalleled , Scalable, and category creator technology platform. As we move forward to achieve our goals, the Bangalore office will become the nerve center of CredAvenue’s technical work,” said Gaurav Kumar, CredAvenue founder and CEO.
This expansion follows CredAvenue’s $90 million in equity capital raised in a round of financing led by Sequoia Capital, Lightspeed, TVS Capital Funds, Lightrock and other companies. The fund valued the company at approximately US$410 million. CredAvenue plans to develop its platform by deploying cutting-edge technologies such as data science, machine learning, and artificial intelligence in the coming months.
Consistent with this, the company attaches great importance to acquiring talents in core technology fields that have nothing to do with the field, including data engineering, AI-ML, data science and analysis, data security, product management, deep integration, and platform architecture. Said in a statement. statement. CredAvenue predicts that by the end of fiscal year 22, its total headcount will double to 700.
The company also plans to achieve global expansion and inorganic growth through strategic acquisitions. The company currently has a portfolio of five platforms-term loan corporate solutions, CredLoan; origination platform CredCoLend; bond issuance and investment platform Plutus; trade finance portal CredSCF and securitization and portfolio acquisition solutions CredPool.
News Source : MINT
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.jpg "SpiceJet announces 8 new flights to connect Jaipur with Varanasi, Amritsar and Ahmedabad")
SpiceJet expands its domestic network with 8 new flights that will connect Jaipur with Varanasi, Amritsar and Ahmedabad and also link Ahmedabad with Pune.
SpiceJet is further expanding its domestic network with the launch of eight new flights starting November 15.
In the statement released on Wednesday, the airline announced that these new routes will connect Jaipur with Varanasi, Amritsar and Ahmedabad, while also linking Ahmedabad with Pune. This expansion follows the recent launch of 32 new flights in October 2024, including two international flights connecting Delhi with Phuket.
Last month, SpiceJet also commenced UDAN flights linking Shivamogga in Karnataka with Chennai and Hyderabad, and introduced double daily flights between Chennai and Kochi, enhancing connectivity across key regional and metropolitan cities.
“We are excited to announce the launch of new flights from Jaipur to Varanasi, Amritsar, and Ahmedabad, as well as from Ahmedabad to Pune, providing our passengers with greater flexibility and convenience,” SpiceJet Chief Business Officer Debojo Maharshi said.
“These new flights reflect our commitment to supporting passenger demand across tier-II cities and beyond. With our expanded winter schedule, including international and UDAN routes, we aim to provide our customers with greater convenience, affordability, and seamless travel experiences,” Maharshi added.
SpiceJet will deploy its 78-seater Q400 aircraft in these sectors. Bookings for the new flights are now open and tickets are available at the website of the airline, SpiceJet’s mobile app and through online travel portals and travel agents.
On Monday, the airline received a significant boost, with Acuite Ratings & Research Limited upgrading its long-term rating by four notches to ‘B ‘ and its short-term rating to A4. The rating agency has also assigned a ‘Stable’ outlook to the airline.
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