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Oxigen fuels Arunachal tourism
MUMBAI: Oxigen Services, one of India’s largest payment solutions provider, has signed a Memorandum of Understanding with the Department of Tourism, Arunachal Pradesh for becoming the preferred partner for providing digital payment solution to the residents and tourists visiting the state.
Oxigen Services CMD Pramod Saxena signed an MoU with the state government in the presence of Union Minister of State for Home Kiren Rijiju, key dignitaries of the state and key officials from various companies.
Saxena said, “Every year the state attracts a huge number of domestic and foreign tourists. With this partnership, we would like to provide a reliable, efficient and robust service of our digital payments solutions, with access through Oxigen Wallet and Oxigen Micro ATM. This alliance is one step forward in the evolution of Digital India.”
Oxigen Services is powered by 12 years of service excellence in the digital business of micro payments of services and remittances in a ‘real time’ environment. Oxigen has a retail footprint of 2, 00,000 outlets and has processed over 4 billion transactions till date with a current transaction volume rate of 600 million transactions per annum.
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UK’s OnlyFans seeks US investor at $3bn valuation after owner’s death
The adult video platform is seeking stability after the death of its billionaire owner
LONDON: OnlyFans is looking for a new partner. The London-based adult video platform is in advanced talks to sell a minority stake of less than 20 per cent to Architect Capital, a San Francisco-based investment firm, in a deal that would value the business at more than $3bn (£2.2bn).
The move is driven by an urgent need for stability. Leonid Radvinsky, the Ukrainian-American billionaire who owned OnlyFans, died of cancer last month at the age of 43, leaving the future of one of Britain’s most profitable privately held businesses suddenly uncertain.
The choice of Architect Capital is not arbitrary. The firm has deep expertise in financial services, which aligns neatly with OnlyFans’ ambitions to offer banking products to its creators, many of whom have long struggled to access basic financial services because of the nature of their work.
The numbers behind OnlyFans are, by any measure, staggering. The platform posted revenues of $1.4bn in the year to 30th November 2024, with a pre-tax profit of $684m, up four per cent on the prior year. Payments to creators totalled $7.2bn over the same period, a rise of nearly ten per cent. Radvinsky personally collected $701m in dividends from the business in 2024 alone, on top of more than $1bn in such payments he had already received. The platform, run through its parent company Felix International, hosts 4.6m creator accounts, with performers keeping 80 per cent of subscription proceeds and the platform pocketing the remaining 20 per cent. It has 377m fan accounts in total.
The current minority stake talks represent a notable scaling back of ambitions. In January, OnlyFans was reported to be in discussions with Architect about selling a majority stake of 60 per cent. Before that, the company had explored a sale to a consortium led by Forest Road Company, a Los Angeles-based investment firm. Neither deal materialised.
OnlyFans has built an enormously lucrative business on content that mainstream finance has long refused to touch. Now, with its owner gone and a $3bn valuation on the table, it is looking for the kind of respectable institutional backing that might finally persuade the banks to take its calls.
