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
Technology
Surfaces of the Motorola Edge 50 Ultra with Snapdragon 8S Gen 3
Early this week, renders of the Edge 50 Fusion appeared, and Motorola has previously stated that the Edge 50 Pro will ship on April 3. The highest-end smartphone in the Edge 50 series, the Edge 50 Ultra, has now been shown in renders.
The phone is depicted in the renderings in peach fuzz and black with a vegan leather finish, while sisal, a beige color, will have a brushed surface. As opposed to the Snapdragon 7 Gen 3 in the Pro variant and the Snapdragon 6 Gen 1 in the Edge 50 Fusion, the phone is reportedly powered by the Snapdragon 8s Gen 3 SoC.
A 50MP primary camera, an ultra-wide camera, and a periscope telephoto camera with a 5x optical zoom are all included in the Motorola Edge 50 Ultra’s feature set. Additionally, there is a triple LED flash on the right side and a laser autofocus feature above the periscope lens.
Although the phone’s display, battery, and charging specifications are yet unknown, the Edge 50 Pro is said to include 12GB of RAM and support both 50W and 125W wired and wireless charging.
It is anticipated that this will launch as the Motorola X50 Ultra in China. It is unclear if the India launch may be expected on the same day as the rest of the Edge 50 series phones, even if this is scheduled to go official on April 3.
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