Hiring strategy to remain aggressive, will hire 100 people by year-end: Cashfree

Digital payments company Cashfree on Wednesday said it plans to hire about 100 people to take its headcount to more than 200 employees by year-end.

"While the COVID-19 pandemic has hit multiple industries in different ways, there has been an average drop of 20 per cent in digital transactions across sectors.

"We have taken measures to ensure that our employees would not have to face any financial difficulties and job uncertainty," Cashfree co-founder Reeju Datta said in a statement.

He added that even though many companies are looking at retrenchment and pay cuts because of the coronavirus pandemic, Cashfree is maintaining focus on aggressive hiring along with planned appraisals and performance bonuses to help employees stay motivated.

 

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* YAP raises USD 4.5 mn in funding round

Chennai-based fintech company YAP on Wednesday said it has raised USD 4.5 million (around Rs 34.3 crore) in a funding round led by Singaporean fund Beenext.

8i Ventures Fund, The DMI Group via its AIF vehicle The Sparkle Fund, Better Capital, angel investors Alok Mittal, Ashneer Grover (CEO Bharatpe) andYAP's angel investors Amrish Rau (CEO PineLabs), Jitendra Gupta and Abhishant Pant of Fintech Meetup also participated in the round, a statementsaid.

Funds raised by the API platform company will be used to strengthen the team, build technology and offer enhanced API products to enable access to credit, corporate banking, cross border payments and neobanking stack, it said.