MAM
True Balance &Shopclues Come Together To Bring E-Commerce To 1 Billion Unbanked Indians
MUMBAI: Indo-Korean fintech leader, Balance Hero that operates True Balance and True Credits today announced their associations with ShopClues,the online marketplace that primarily caters to buyers and merchants in Tier II/III/IV cities and beyond, by signing an MOU for an exclusive partnership based on the synergy of their respective target audience. The move is intended to bring to True Balanceusers, unparalleled access to ShopClues’ products across categories such as fashion, electronic, home & furnishing, accessories and kitchen. ShopClues will offer the unbanked True Balance users access to more than 8mn SKUs ranging from INR 50 – INR 10,000 across categories such as fashion, electronic, home & furnishing, accessories and kitchen. True Balance users who do not have debit and credit cards to make payments for their purchases on ShopClues can now do so through the app on their phones.
Through the partnership, True Balance would like to bring to its users an expanded product line via e-commerce, clubbed with the EMI options payable across 3 to 6 months having monthly interest of upto ~6%.
Speaking of the partnership, Mr. Victor Choi, CEO Balancehero, India said, “At True Balance, we foresee great growth in the EMI space and firmly believe that we will be able to bring ShopClues to our strong reseller community and digital lending platform.Through this partnership, we will be able to acquire more commerce products while also generating robust growth in revenue. We strongly believe that additional product segment, especially Fashion and Home & Kitchen, should help accelerate the revenue growth.”
“In this partnership, ShopClues will be handling the product portfolio and the logistics aspect whereas True Balance will be responsible for the Financial Solution”, Mr. Choi further added.
“Both True Balance and ShopClues have a similar market focus. This association is a win-win for all parties involved. While more people from rural India will be encouraged to shop online using the True Balance app, we, at ShopClues, will be able to expand our customer base. We will be able to take our products to more consumers who are currently facing difficulty in accessing the formal financial system due to time-consuming and complicated banking processes,’’ said Sanjay Sethi, CEO, ShopClues.
True Balance is a digital financial platform focusing on unbanked population bringing solution on last mile issues. Growing at a monthly rate of 30%, the company’s revenue is projected to grow by 10 times this year as compared to previous year.
Brands
Pocket FM elevates Lalit Gangwar to COO to drive global growth
Founding member to lead operations, monetisation and expansion across markets
MUMBAI: Pocket FM has elevated Lalit Gangwar to chief operating officer, tasking the founding team member with leading global business operations as the company sharpens its international growth strategy.
In his new role, Gangwar will oversee end-to-end operations across markets, including growth, monetisation and execution for the company’s audio business. The appointment comes as Pocket FM looks to strengthen its operating foundation and build a more predictable, scalable global business.
Gangwar has been closely involved in shaping the company’s trajectory from its early days. He played a key role in building the growth and marketing playbook in India, helping the platform scale to over 150 million users within its first year and establish a strong foothold in the audio storytelling category.
He later led Pocket FM’s expansion into the United States, where he set up teams, defined market strategy and drove scale, contributing significantly to the company’s international ambitions.
Pocket FM co-founder and CEO Rohan Nayak said, “Lalit has been central to Pocket FM’s journey from the very beginning. He has built our growth engine and scaled our business across markets.” He added that the company’s focus on nurturing internal talent makes Gangwar a natural choice to lead the next phase.
Gangwar said, “Pocket FM has always been driven by a simple belief that powerful stories can travel across borders and create meaningful impact.” He noted that the company will continue to focus on scaling markets, investing in AI-led storytelling and strengthening monetisation.
As COO, Gangwar is expected to bring greater operating discipline while building systems, talent and processes to support long-term growth.
With leadership continuity and a clear global focus, Pocket FM appears to be turning the page to its next chapter, one that aims to take its storytelling playbook well beyond home turf.
