Retail News CRM

Tag: indie

  • Indian burger chain Good Flippin’ Burgers raises $4 million

    Indian burger chain Good Flippin’ Burgers raises $4 million

    Good Flippin’ Burgers has successfully raised $4 million in its latest Series A funding round, which Tanglin Venture Partners led.

    Viren DSilva, co-founder of Good Flippin’ Burgers said, “This investment is a significant milestone for us and will empower us to expand our operations, fortify our supply chain, and bring our delicious burgers to an even wider customer base. We are grateful for the overwhelming love and support we have received from our loyal patrons and will continue to delight them with our product portfolio,” he added.

    “Viren, Sid Marchant and Sijo Matthew are exceptional founders with extreme customer obsession and process orientation. They have built a strong brand in Good Flippin’ Burgers with extraordinary customer love. We are really impressed with their focus on supply chain capabilities which has enabled them to maintain the highest level of quality as well as consistency across their store footprint,” added Sankalp Gupta, partner at Tanglin Venture Partners.

    Good Flippin’ Burgers raised $1 million in April 2022.

    With the latest capital infusion, the start-up plans to fuel its geographical expansion, reinforce its supply chain and refine its dining and quick service restaurant (QSR) models. It also hopes to scale up its growth, which it claimed had increased by 3X last year.

  • TRAI releases consultation paper on satellite gateway

    TRAI releases consultation paper on satellite gateway

    Telecom Regulatory Authority of India (TRAI) has extended an invitation to industry stakeholders to gather inputs on a framework for satellite gateways in India. This will facilitate the launch of satellite communication services in India.

    Prior to this, the Department of Telecommunications (DoT) has requested TRAI to furnish recommendations on licensing framework for establishing a satellite gateway. DoT has requested TRAI to address existing limitations in satellite gateway operations as there is no provision regarding the use of gateway by service providers established by a satellite constellation operator.

    The regulator is called to look into factors and make recommendations on entry fee, license fee, bank guarantee, NOCC charges, and other issues which may concern LEO, MEO and HTS systems.

    TRAI has since released a consultation paper to garner inputs by 13 December.

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  • Singapore and Malaysia to Link Real-Time Payment Systems

    Singapore and Malaysia to Link Real-Time Payment Systems

    The link will enable more seamless payments for the high volume of remittances between the two neighbors, which reached S$1.3 billion ($960 million) in 2020.

    Singapore and Malaysia’s central banks will be embarking on a phased linkage of PayNow and DuitNow, their national real-time payment systems, the Monetary Authority of Singapore (MAS) said in an announcement.

    In the first phase, to be launched in the fourth quarter of 2022, customers of participating financial institutions will be able to make real-time transfers using a mobile phone number and make retail payments by scanning a PayNow/DuitNow QR code.

    The linkage will subsequently incorporate a wider range of features and participants. Both regulators will also explore the feasibility of integrating innovative features such as distributed ledger technology-based solutions to catalyse greater efficiencies in payments clearing and settlement between participating banks, the announcement said.

    Singapore’s remittance corridor with Malaysia is the city-state’s largest remittance corridor. The two countries also saw 12 million travelers crossing the border pre-pandemic.

    The PayNow-DuitNow linkage will be an important infrastructure to support cross-border payment needs of individuals and businesses, as well as the growing digital economic activity between both countries, Sponendu Mohanty, MAS chief fintech officer, said.

    The linkage also allows MAS and counterpart Bank Negara Malaysia (BNM) to incorporate the use of distributed ledger and smart contract technologies in the wholesale cross-border payments space, he added.

    Earlier this month, MAS also announced that it is working to connect PayNow to India’s Unified Payments Interface (UPI) by mid-2022.

    Singapore and Thailand have also connected their payments infrastructures to enable cross-border peer-to-peer transactions.

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