Daily Indian Funding Roundup & Key News - 18 September 2026: Kissht Gets Board Nod For INR 832 Crore Preferential Issue, Apple Pay May Launch In India Next Month, MoroMaa Raises INR 1.5 Crore
Here's your daily dose of Indian startup funding roundup and key business news for 18 September 2026. Kissht gets board nod for a INR 832 crore preferential issue, Apple Pay may launch in India next month, and MoroMaa raises INR 1.5 crore.
Two funding-related rounds closed on 18 September 2026, in digital physiotherapy and Moroccan-inspired beauty. HBF India and AJ VC backed the day's rounds. The headline raise is MoroMaa's INR 1.5 crore round for a 9% stake, while Physioplus Healthcare closed a strategic seed investment at an $800,000 valuation.
Away from funding, Kissht got board approval to raise INR 832 crore via preferential issue, Apple Pay may launch in India next month with Axis Bank as its first partner, and UPI's new MDR framework sparked debate over who will foot the bill.
Daily Indian Startup Funding Roundup - 18 September 2026
| Startup | Sector | Funding | Round | Lead Investors |
|---|---|---|---|---|
| MoroMaa | Beauty & Body Care | ₹1.5 Cr | Stake Sale (9%) | AJ VC |
| Physioplus Healthcare | Digital Physiotherapy | Undisclosed ($800K valuation) | Seed | HBF India |
MoroMaa Raises INR 1.5 Crore From AJ VC For 9% Stake
MoroMaa raised INR 1.5 crore from Aviral Bhatnagar of AJ VC in exchange for a 9% equity stake. The funds will support product development, distribution and building awareness around Moroccan beauty in India.
Launched in June 2026 by solo founder and CEO Soundous Moufakir, Mumbai-based MoroMaa is building what it calls M Beauty, a Moroccan beauty category using ingredients sourced directly from Morocco. The brand claims two of its products sold out within the first two months of operations.
Physioplus Healthcare Raises Seed Funding At $800K Valuation
Physioplus Healthcare raised a strategic seed investment from HBF India at a valuation of $800,000. The proceeds will strengthen its technology platform, expand its network, and increase its presence across India.
Co-founded in 2022 by Samit Saxena, Jaswant Singh and Madhukar Pareek, Jaipur-based Physioplus Healthcare connects patients with certified physiotherapists through a platform combining digital practice management, patient data and remote monitoring. Its services cover chronic pain, musculoskeletal conditions, sports injuries and post-surgery rehabilitation.
Key Business News for 18 September 2026
Kissht Gets Board Nod For INR 832 Crore Preferential Issue
Listed NBFC Kissht received board approval to raise up to INR 832.2 crore through a preferential issue of 2.6 crore equity shares to 34 investors and entities, priced at INR 314.11 apiece. Axis Mutual Fund schemes will together receive shares worth nearly INR 200 crore, while Massachusetts Institute of Technology will be allotted shares worth INR 85 crore through two entities, and other investors include 360 One, Alchemy Capital and Groww.
The fundraise comes barely four months after Kissht's stock market debut, where it listed at an 11.7% premium over its IPO issue price of INR 171. Founded in 2015 by Ranvir Singh and Krishnan Vishwanathan, Kissht offers digital personal and business loans and reported a 59% jump in consolidated net profit to INR 95.1 crore in Q1 FY27.
Apple Pay May Launch In India Next Month With Axis Bank Partnership
Apple is reportedly planning to launch Apple Pay in India as early as next month, with Axis Bank expected to be its first banking partner, initially enabling Axis Bank credit cards before adding more lenders over time. Apple has also held talks with HDFC Bank and ICICI Bank, though the two lenders are yet to agree on commercial terms.
The launch would cap nearly a decade of effort by Apple to bring the service to India, having first signalled plans in 2017 before running into regulatory and data-localisation hurdles. Apple Pay will enter a market overwhelmingly dominated by UPI, which accounts for around 84% of India's digital payment volumes.
MDR On UPI Kicks In From October 15, Sparking Debate Over Who Pays
A new merchant discount rate framework will apply a 0.4% fee on UPI person-to-merchant transactions above INR 2,000 from 15 October, ending UPI's six-year zero-MDR run, while merchants receiving up to INR 1 lakh a month through UPI QR codes stay exempt. Bernstein estimates the new fee could generate an annual revenue pool of about INR 22,000 crore by FY28, with banks capturing the largest share.
Retailers' bodies have warned the change could push small merchants back towards cash, especially during the festive season, while some D2C brands say the immediate impact looks limited given their typical ticket sizes. Fintech executives, including MobiKwik's Bipin Preet Singh and Paytm's Vijay Shekhar Sharma, have defended the framework as a necessary and more equitable way to fund UPI's infrastructure.
Muskaan Kapoor
