Growpital (An Agri-Fintech startup) is under SEBI probe. But nowhere has the media caught that Prashant Pitti (EaseMyTrip) was the co-founder here. Lack of info, or paid off?

- Since SEBI’s order in January, over 5K+ investor-partners have not received their instalments from Growpital. - The company has laid off almost all employees, reducing headcount from 100+ to less than five, and the website is shut down. - Growpital allegedly ran the CIS scheme illegally and made fake projections for a future IPO. - Vineet Gupta, a confectionery store owner, and his wife Anjali have not received payouts, affecting their child's education. - SEBI froze INR 50 Cr in bank accounts, and legal actions are being considered by affected investors.

Classplus is falling apart. The CTO, CBO and VP-Business have resigned from the company amidst rumours around financial irregularities. Classplus now joins a long list of Indian startups caught amidst fraud/financial irregularities allegations. Classplus was last valued $600Mn in their last funding round and counts Tiger Global, Falcon Edge, Peak XV (formerly Sequoia India) as their investors.

https://www.linkedin.com/posts/tripti-vishnoi_groww-error-trading-activity-7214843158000517120-4Bms Groww ?

Anyone know about the work life balance in Groww Bangalore office? I’m currently attending interviews. I’m a little worried because Groww is the only Softbank Vision fund invested companies that hasn’t conducted layoffs so far in India. I’m concerned if they might layoff employees soon. Can anyone provide any details please?

And founders themselves embezzling more than 45Cr

After the recent incident of groww screwing up customers investment, am now scared of their platform. Should i stick on or move to something else? if yes which one? #trading #demat

ReshaMandi, a startup that raised over $40 Mn in equity funding, is facing insolvency pleas and has allegedly coerced employees to join another company, Genzr Solutions Private Limited, leaving hundreds of former employees awaiting salary dues. - ReshaMandi's downfall was attributed to rapid expansion across various verticals, revenue inflation, and financial mismanagement, including inflated revenue, fake vendors, and loan defaults. - ReshaMandi's founders and management personnel have joined Genzr, a seemingly unrelated company, raising questions about the acquisition and the funding received from an unrelated source. - The failure of ReshaMandi has raised concerns about VCs investing without adequate due diligence and the accountability of investors and founders for the company's financial situation and treatment of employees. Source: Inc42 - https://inc42.com/features/inside-the-upheaval-at-reshamandi-a-questionable-2nd-innings-after-a-40-mn-collapse/

Company was inflating GMV by 60%