Adani Enterp. 2534.05↓-10.30(-0.40%)
Adani Ports 737.50↑10.65(1.47%)
Apollo Hospitals 4640.45↑30.55(0.66%)
Asian Paints 3137.40↑9.00(0.29%)
Axis Bank 929.80↑2.85(0.31%)
B P C L 361.70↓-2.60(-0.71%)
Bajaj Auto 4618.50↑2.55(0.06%)
Bajaj Finance 6932.05↑27.55(0.40%)
Bajaj Finserv 1449.55↑10.40(0.72%)
Bharti Airtel 821.25↑3.30(0.40%)
Britannia Inds. 4575.25↓-20.95(-0.46%)
Cipla 956.25↑4.90(0.52%)
Coal India 246.10↑4.60(1.90%)
Divi's Lab. 3477.85↓-36.15(-1.03%)
Dr Reddy's Labs 4556.25↑25.30(0.56%)
Eicher Motors 3711.45↑21.10(0.57%)
Grasim Inds 1713.30↑25.00(1.48%)
H D F C 2690.55↑39.95(1.51%)
HCL Technologies 1126.20↓-13.00(-1.14%)
HDFC Bank 1635.50↑19.70(1.22%)
HDFC Life Insur. 579.05↑1.85(0.32%)
Hero Motocorp 2776.90↑31.75(1.16%)
Hind. Unilever 2650.30↓-2.05(-0.08%)
Hindalco Inds. 419.90↑6.35(1.54%)
ICICI Bank 948.15↓-2.55(-0.27%)
IndusInd Bank 1284.95↑16.90(1.33%)
Infosys 1314.40↓-3.05(-0.23%)
ITC 449.10↑5.50(1.24%)
JSW Steel 702.20↑0.50(0.07%)
Kotak Mah. Bank 1953.20↑8.15(0.42%)
Larsen & Toubro 2224.55↑6.10(0.27%)
M & M 1330.15↑48.30(3.77%)
Maruti Suzuki 9333.50↓-66.45(-0.71%)
Nestle India 21729.45↑147.70(0.68%)
NTPC 176.30↑1.80(1.03%)
O N G C 159.00↓-4.75(-2.90%)
Power Grid Corpn 234.50↓-2.80(-1.18%)
Reliance Industr 2520.60↑14.10(0.56%)
SBI Life Insuran 1218.10↑22.35(1.87%)
St Bk of India 595.00↑9.00(1.54%)
Sun Pharma.Inds. 968.45↓-1.45(-0.15%)
Tata Consumer 794.25↑4.55(0.58%)
Tata Motors 521.45↑3.00(0.58%)
Tata Steel 108.45↑2.05(1.93%)
TCS 3320.35↓-8.55(-0.26%)
Tech Mahindra 1114.05↓-0.70(-0.06%)
Titan Company 2812.25↑70.10(2.56%)
UltraTech Cem. 7840.55↑118.70(1.54%)
UPL 690.00↑1.90(0.28%)
Wipro 399.80↓-1.90(-0.47%)

SVB fallout: Fintech, venture capital companies come to the rescue

Razorpay is offering domestic start-up clients to move their money into their Indian current accounts as FDI through the firm's partner banks

Aryaman Gupta Shivani Shinde New Delhi/Mumbai

Premium

Photo: Bloomberg

4 min read Last Updated : Mar 12 2023 | 10:31 PM IST

Fintech and venture capital firms such as Recur Club, Razorpay and Trifecta Capital have come to the aid of homegrown start-ups caught in the crossfire of the Silicon Valley Bank fiasco.

Alternative funding platform Recur Club said it was allocating $15 million to all Indian founders affected by the crisis. It will not charge any platform fee for the same.

The firm is working to provide financing solutions for start-ups to fund their payroll and short-term working capital requirements within 48 hours of receiving the companies’ data and without diluting equity. Further, Recur Club is also facilitating the opening of bank accounts in GIFT city within 24-48 hours by taking special exemptions.