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Happy Monday! Peak XV Partners is rebooting Surge after executive exits and a broader strategy reset. Happy Monday! Peak XV Partners is rebooting Surge after executive exits and a broader strategy reset. This and more in today’s ETtech Morning Dispatch.Also in the letter:■ ETtech Done Deals■ Coinbase’s India play■ The rise of tokenmaxxingPeak XV rejigs Surge after partner exits, leans on core team to drive deals 131431840Rajan Anandan, managing director, Peak XV PartnersPeak XV is overhauling Surge – once its flagship seed platform modelled on Y Combinator – after senior exits, fewer cohorts, and a broader rethink of how big venture firms want to play at seed in India and Southeast Asia.What’s happening:Surge is being pulled closer to Peak XV’s wider early-stage practice, with the main venture team now owning more of the sourcing and support for seed deals.Aaditya Sood, one of the last senior executives closely associated with Surge, has not been active for at least eight months. Peak XV says he has transitioned to an advisory role.Since 2024, Surge has been running one cohort a year – down from the twice-a-year cadence it promised when the programme launched in 2019.Tell me more: Surge started out with $1.5-million cheques, intensive founder workshops, mentors, global immersions and a community-led model aimed at very young startups.Back in 2019, Peak XV (then Sequoia Capital India & SEA) had explored a dedicated $150-200 million Surge, but that plan never quite took the shape originally envisioned.From Peak XV’s latest fund, the seed/Surge pool is expected to be about $225 million, down from around $300 million in its 2022 fund.Zoom out: Surge's reset comes as Accel and Lightspeed are also rewiring their seed and deeptech founder programmes.Digital lenders clock strong FY26 on sturdier fundamentals 131431844Despite a tough operating environment and slower economic growth, a clutch of fintech lenders turned in robust FY26 profits, regulatory filings reviewed by us show.How they fared: Better underwriting and stronger balance sheets helped both listed and unlisted digital lenders sustain profitable growth during the year.Kreditbee posted the highest net profit in the pack at Rs 478 crore in FY26, up from with Rs 221 crore a year earlier. Operating revenue rose to Rs 3,025 crore from Rs 2,185 crore.Fibe increased revenue by 37% year-on-year to Rs 1,288.5 crore, while net profit climbed 64% to Rs 165 crore.Navi, backed by Flipkart cofounder Sachin Bansal, reported a 32% rise in net profit to Rs 292 crore. Operating revenue came in at Rs 2,461 crore for FY26.Recently listed Kissht also posted a net profit of Rs 281 crore on operating revenue of Rs 2,179 crore for FY26.Quote, unquote: “Consumer lending startups tightened their lending game plans and strengthened their balance sheets. Now that the Kissht IPO has sailed through, it should encourage other players to also go for their public listing soon instead of waiting for perfect market conditions,” said Rohan Lakhaiyar, partner, Grant Thornton Bharat, a consultancy major.Also Read: Listed digital payment majors finally turn a corner in FY26Simple Energy raises Rs