Tech
Flipkart’s Super.money teams up with Kotak Bank to make India’s free UPI payments pay
India’s free digital payments revolution has upended how money moves — but not how fintechs make it. Now, Flipkart’s fintech arm Super.money is partnering with one of India’s top commercial banks, Kotak Mahindra Bank, to change that, bundling UPI payments, savings, and secured credit into a single account aimed at turning usage into profit.
The partnership aims to issue about 2 million secured credit cards in the next 12 months — roughly 60 percent to first-time borrowers — and 5 million within 2 years. Super.money, which already serves 10 million active users, expects the Kotak alliance to contribute around 10 percent of its revenue next year as it works toward profitability by 2026, chief executive Prakash Sikaria said in an interview.
India’s Unified Payments Interface (UPI), backed by the Indian government, has made instant bank transfers free and ubiquitous, processing more than 19 billion transactions a month. That success, though, has left little room for fintechs to profit, since regulators, including the Indian finance ministry, do not allow the merchant fees that typically fund rewards and credit programs. Super.money’s bet — using a secured card and savings account to reintroduce incentives — offers a template for building viable business models atop no-fee payment systems.
“We do UPI not to solve the pure payment use case,” Sikaria told TechCrunch. “We do UPI to build an interesting cross-financial services play where we are acquiring and retaining customers with the UPI.”
Launched in June 2024 as Walmart-owned Flipkart’s latest fintech venture after spinning off PhonePe in 2023, Super.money is already generating about $3 million in monthly revenue, with an annualized run rate of roughly $36 million, the executive said.
The fintech app has emerged as one of India’s top five UPI platforms in recent months, processing more than 200 million transactions a month for four straight months through August, per the National Payments Corporation of India, the federal body that manages the system.
Around 80% of Super.money’s revenue comes from personal loans, 10% from credit cards, and the remaining 10% from payment products such as bill payments and recharges. The fintech says it retains roughly 85% of users, with 60–70% of its transactions coming from customers under 30.
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Sikaria noted that Super.money’s business model rests on two monetization engines. “The first is the financial-services engine — personal loans, cards, deposits, and similar products — and the second is commerce,” he said. “Our idea is to bring a Klarna-style’ pay-in-three’ model on top of commerce, creating a financial overlay that lets customers buy now and pay later within the Super.money ecosystem.”
The partnership with Kotak Mahindra Bank, India’s fourth-largest lender by market capitalization, gives Super.money access to a large, regulated banking infrastructure. It follows an earlier tie-up with Utkarsh Small Finance Bank to specifically offer secured cards through its platform, marking the fintech’s move into mainstream retail banking.
The collaboration introduces what the companies call a “3 in 1 Super Account,” combining a savings account, UPI payments, and a fixed-deposit-backed secured credit card aimed at expanding credit access for first-time borrowers.

To open a 3-in-1 Super Account, users need to make a fixed deposit of at least ₹1,000 (about $11). The account earns interest on the deposit and offers a cashback on every transaction. It also includes a UPI-on-credit feature — a credit line backed by the deposit that does not require any income proof.
Sikaria told TechCrunch that secured cards were chosen as the anchor product because they fit within India’s zero-fee UPI system while still allowing the rewards and cashbacks that the platform was never designed to support.
“Our focus is to bring in users who have a higher propensity to engage with our products,” he said. “UPI happens to be the core engagement and acquisition hook, but for people who don’t want to engage in financial services or other products that we launched, we do not want to serve them from a UPI or payment perspective.”
The partnership with Kotak Mahindra Bank comes soon after Super.money teamed up with SoftBank-backed Juspay to launch a one-click checkout experience for online merchants, aimed primarily at direct-to-consumer brands.
About 1,000 merchants already use the solution, and Super.money plans to expand that network through partnerships with more D2C players and other companies within the Flipkart group, Sikaria said.
The secured card earns merchant discount revenue on transactions, and that funds the cashback, Sikaria said. “Obviously, there is a standard acquisition fee to the partner bank that we charge to the bank, so that comes as a monetization for us as well,” he added.
Super.money plans to issue about 200,000 secured cards a month under its partnership with Kotak before expanding to other banks, Sikaria said.
So far, Flipkart has invested about $50 million in Super.money to kick off its operations. As the business scales, the fintech plans to raise additional capital — possibly from external investors as well.
“We need more capital for at least a couple of years,” Sikaria said. “Very soon, we’ll start formulating our capital-raise strategy.”
He declined to say whether the next round would come from Flipkart or outside investors but noted that Super.money is receiving inbound interest from “a lot of investors.”
In the meantime, Sikaria said the company is keeping its cash burn low, describing its current monthly burn as a “low single-digit million number” without providing specifics.
He added that Super.money is deliberately focusing on India’s top 10 to 30 million users, rather than competing with mass-market payment players such as Google Pay or PhonePe that target hundreds of millions.
“What we want to do is build a formidable secured card franchise with a profitable P&L — for us, the bank, and our customers as well,” Sikaria said.
Tech
Waymo starts autonomous testing in Philadelphia
Waymo is adding another four cities to its growing list of robotaxi rollouts. The company announced Wednesday it has begun testing its autonomous vehicles (with a safety monitor) in Philadelphia, and that it will start manual driving to collect data in Baltimore, St. Louis, and Pittsburgh.
Waymo did not offer a timeline for when it plans to launch commercial services in those locations, nor do we know whether the Alphabet-owned company will partner with other companies to operate robotaxis in each one. That has been the move in cities like Atlanta and Austin, for example, where Waymo has partnered with Uber to advance its robotaxi rollout.
But the new locations join a list of over 20 cities where the company is either offering rides, prepping a commercial launch, or testing. Waymo is also now offering rides on freeways in Los Angeles, Phoenix, and the San Francisco Bay Area. The company plans to be doing one million rides per week by the end of 2026.
Waymo has done all this while claiming to be operating at a level five times safer than humans, according to data the company recently released.
But the expansion has not come without its issues. The National Highway Traffic Safety Administration is investigating how the company’s vehicles operate near school buses, after a Waymo was filmed driving around a stopped bus in Atlanta in September.
This week, Austin news outlet KXAN published a report showing Waymo’s vehicles have driven past school buses that were in the process of unloading or loading children multiple times — including after Waymo claims to have shipped software updates to address the problem.
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Tech
Spotify Wrapped 2025 adds its first multiplayer feature with ‘Wrapped Party’
Spotify Wrapped is back. After last year’s widely criticized flop that included an AI podcast as its highlight, the streamer’s highly anticipated annual review feature has returned to its roots. This year, Spotify is doubling down on what it knows works best: deep dives into your streaming data, creative experiences, messages from favorite artists, and other social features.
The company claims that Wrapped 2025 is its biggest, as it’s introducing nearly a dozen new features in addition to its old standbys, like top songs and artists. Plus, it’s offering more visibility into users’ data than in years past. For the first time, Spotify Wrapped is adding a live multiplayer feature to compare your listening data with friends.
Wrapped Party, Wrapped’s first live interactive experience, allows you to invite up to nine friends to compare listening stats.

Also new this year, your Top Songs Playlist will include the play counts for each of the top songs, so you can actually see how much time you spent with your favorite tracks.
Other standout features this year include an interactive Top Song Quiz, a Listening Age feature, and Wrapped Clubs, which match you to one of six unique listening styles.
The company believes these additions will not only bring back the personalized, engaging experience that users have long expected from Wrapped, but will take it a step further by making it more interactive than before.
In the Top Song Quiz, for instance, you can try to guess which top song soundtracked your year before seeing the results.
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The new interactive Wrapped Party feature isn’t just about comparing the personal streaming data you’ve already received to your friends’ data, as that’s something people already do on social media. Instead, the feature presents unique data stories for your group, like who’s the “most obsessed fan,” the “early bird,” the most “picky listener,” or even something as nice as the “dinner table explainer,” meaning the person who listens to the most news podcasts.

Spotify says these awards update dynamically every time you join a Wrapped Party, so no two sessions are ever the same — even if you run through them again with the same group of friends.
The new Wrapped Clubs, meanwhile, will group you into one of half a dozen listening styles, like the “Soft Hearts Club,” the “Club Serotonin,” the “Full Charge Crew,” the “Cosmic Stereo Club,” and others. You’ll also receive a role in the club based on your listening data. You might be a club leader if your listening choices strongly matches the club’s values, a scout if you’re always seeking out new releases, or an archivist if you listen to music from past eras.

Another feature, Listening Age, compares your 2025 music listening to others in your age group. To calculate your age, the feature considers the release years of the tracks you listen to most. From there, it identifies the five-year span of music that you engaged with more than other listeners your age.

As in prior years, you’ll see your top songs, top artists, top genres, and, for the first time, top albums. If you engaged with audiobooks and podcasts, you’ll see metrics for those as well. Artists, writers, and podcasters will have their own version of Wrapped as before. And top fans will again receive video messages from their favorite artists, podcasters, and, now, authors.
You’ll also receive a playlist of your top songs of the year, as before.

What you won’t find in this year’s Wrapped is any feature that advertises it was made with AI.
In a press briefing on Tuesday, Spotify’s Senior Director of Global Marketing, Matt Luhks, admitted the company received a “lot of feedback” about its 2024 AI-focused Wrapped experience, saying it was a “mix of positive and ‘more constructive feedback,’” despite the feature driving more engagement than prior years.
“We take all of that in. We use that as information, insights, [and] inspiration for how we approached Wrapped this year,” he said in a press event ahead of today’s launch.
“What our users tell us about Wrapped means a lot to us, so it was really informative in how we approached Wrapped this year. And what we tried to build was the most creative, most innovative, most engaging Wrapped ever,” he added, setting a high bar for the 2025 edition of the now 11-year-old annual year-in-review feature.
“We’re the original and, we believe, still the best,” Luhks said.

Still, AI was a part of the Wrapped experience. Though the company claims the overall experience was not made with AI, it does leverage a LLM (large language model) to add a storytelling layer to Wrapped’s facts and figures, and natural language summaries in other parts of its experience, looking back on your data.
Spotify’s attempt to fix Wrapped after a notable stumble comes as the streamer faces increased competition from Apple, Amazon, YouTube, and others, which have all launched their own annual review features, inspired by Wrapped.
“Everyone seems to have their own version of Wrapped. Now, there’s a lot of reviews and replays and rewinds out there, but we believe that Wrapped still sets the bar for these year-end recaps,” Luhks said.
Along with the consumer experience, Spotify shared its top artists, songs, albums, podcasts, and audiobooks for the year, with top winners that included, respectively, Bad Bunny (top song and album), Joe Rogan (“The Joe Rogan Experience” podcast), and Rebeca Yarros (author of “Fourth Wing”).
Tech
Nothing looks to its community to raise $5M, wants to be ‘IPO-ready’ in 3 years
Hardware maker Nothing is letting its user base buy its stock as part of a new community investment round of $5 million. The new round, which opens on December 10, will enable consumers to buy the company’s shares at its Series C valuation of $1.3 billion.
The company said it has so far raised $8 million in total from over 8,000 people across two previous community investment rounds. It held its first community funding event in 2021, aiming to raise $1.5 million.
“This isn’t about raising capital, it’s about giving our community/fans a chance to invest while we’re private and join us on the journey,” a spokesperson for Nothing told TechCrunch.
Community investors have a rotating seat on the company’s board, but it is unclear what else they get for investing in the company through such rounds.
Nothing raised $200 million in its Series C back in September from investors including Tiger Global, GV, Highland Europe, EQT, Latitude, I2BF and Tapestry. The company has raised $450 million to date.
The community round comes as Nothing makes changes to its corporate structure as it tries to increase its share of a smartphone market dominated by giants like Samsung and Apple. The company is spinning off its budget CMF brand, and plans to explore AI-centric devices while it keeps building smartphones and audio products. And Nothing claims it crossed $1 billion in cumulative revenue this year, up 150% from 2024.
The startup is working to be “IPO-ready” in three years, CEO Carl Pei told TechCrunch in an email. “The timing will depend on market conditions and what makes sense for the business at that point in time,” he said.
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“What’s important is that we’re already operating with that discipline now. We’re building the systems, the governance, the financial discipline that a public company needs. It forces us to think longer-term and make smarter decisions that prioritise sustainable growth,” Pei added.
It’s not clear if Nothing aims to raise another round before an IPO. When asked about its fundraising plans, a Nothing spokesperson said the company is not thinking about raising capital immediately, but it wouldn’t be averse to those conversations.
Those interested in investing in the community round can use platforms like Wefunder and Crowdcube to participate.
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