Page 17 - Fintech

Loan disbursals by digital lenders double in Q3 amid new RBI norms: Report

Data for quarter shows customers' trust and preference for fintech lending, says association

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

KFintech buys 25.6% stake in account aggregator MoneyOne's parent

Shares of KFintech closed 0.95 per cent higher on Friday

Fintechs see UPI-PayNow linkage as foundation for a global network

On Tuesday, India and Singapore linked their digital payment systems, United Payments Interface (UPI) and PayNow, to enable real-time money transfers

Nearly a dozen fintech startups moved to IFSCA innovation sandbox

The regulatory sandbox initiative is to encourage fintech services across the spectrum of banking, insurance, securities and fund management

B2B could be India's top sector for venture debt funding in 2023: Report

71% of founders of early-stage companies plan to raise venture debt this year

Global fintech investment falls in 2022, payments space shows top growth

Investment in crypto and blockchain fell from $30 billion in 2021 to $23.1 billion in 2022

Bad guys may re-enter digital lending in India despite govt ban: Experts

They say the rogue apps can come back using some other name or some forged documents

Digital lenders increasing spending on data security tech: Report

Threat to data privacy and cybercrimes are among risks for digital lending: Survey

Fintech platform PayMe to invest Rs 200 crore in UP, creates 2,000 jobs

Fintech platform PayMe on Thursday said it will invest Rs 200 crore in Uttar Pradesh to create 2,000 jobs in the area, focusing on training and developing skilled resources in the fintech space.

US-based financial technology company Affirm lays off 19% of workforce

Levchin said that during the early part of the pandemic, the company "consciously hired ahead of the revenue required to support the size of the team", with revenue growth justifying the strategy

Fintech firm mPokket says app impersonating it has been blocked by govt

Fintech firm mPokket on Wednesday said that an app impersonating it has been blocked by the government and it has no partnership with the blocked platform. The government has last week ordered blocking of 232 apps operated by overseas entities, including Chinese, for being involved in betting, gambling and unauthorised loan service "The domain in the list issued by MeiTY this week, mpokket.en.aptoide.com, is a clear instance of impersonation and has no affiliation with mPokket whatsoever. Aptoide is a third-party app store with which we have no official or unofficial partnership," mPokket said in a statement. Meity issued blocking orders on Saturday based on an emergency request issued by a nodal officer of the home ministry comprising 138 betting and gambling websites and 94 loan apps that were engaging in illegal money laundering and posing threat to financial security of the country. "We suspect that it may be a proxy app on Aptoide and are looking into it further. Blocking of s

Here's why Macquarie has double upgraded Paytm's stock to 'Outperform'

Following the upgrade, shares of Paytm surged 18.5 per cent to an intra-day high Rs 698 per share on the BSE on Wednesday

Macquarie double upgrades Paytm to 'outperform', ups target price by 80%

This comes after the firm narrowed its net loss to Rs 392 cr in Q3 of FY23, from Rs 778.4 cr in Q3FY22, and expanded revenue from operations by 41.62% to Rs 2,062.2 cr

RazorpayX launches forex service for founders, to empower 1,000 startups

With an annualised run rate of Rs 350 crore under this forex service to date, the company expects it to scale up by 3-4 times in the next financial year

Explained: Are fintech companies unmindful of Mint Road's message?

Fintechs' attitude towards governance has major implications

India's startup funding in 2022 double the pre-pandemic level: PwC

21 startups entered the unicorn club in 2022, highest from SaaS category

Tell your client to maintain decorum: HC tells Ashneer Grover's counsel

Delhi High Court was hearing a suit filed by BharatPe seeking, among other reliefs, orders to restrain Grover from making defamatory statements against the company

Fintech startup SarvaGram Solutions raises $35 mn in funding round

Fintech startup SarvaGram Solutions has raised USD 35 million (about Rs 290 crore) in a funding round from a clutch of investors including Elevar Equity, Elevation Capital, Temasek and TVS Capital Funds. SarvaGram provides a range of customised financial and capacity-enhancing products to unlock the potential of aspirational rural India. It closed its Series B round at USD 10 million in February 2021, which was led by Elevation Capital and Elevar Equity. The company announced "close of its Series C round at USD 35 million. Investors in this round include Elevar Equity, Elevation Capital, Temasek and TVS Capital Funds, with Elevar Equity being the largest investor in the company." With this funding round, SarvaGram plans to expand its distribution network by adding 75 outlets (to reach 125) by the end of financial year FY2024. "It also plans to expand its on-ground franchisees -known as 'SarvaMitra' - to 3X of the current strength across different states in India. The funds would a

What can India's consumer fintech look forward to in 2023?

An SBI report recently said that the use of UPI has jumped 70 times in the past four years. So, should there be charges on UPI fund transfers? And, did the fintech industry come of age in 2022?