Page 3 - Fintech Companies

Razorpay, Cashfree receive final RBI nod for payment aggregator biz

Other players such as PayU, Paytm, JusPay, among others are yet to receive a nod from the regulator to onboard new merchants

Unsecured loan concerns: Fintechs explore long-term loans after RBI alert

Meanwhile, for the past few months, the regulator has been cautious about the increase in unsecured personal loans, which can spiral into potential bad loans

Fintechs rule the roost in India's startup ecosystem this year, shows data

While the overall investment paints a gloomy picture, a handful of firms raised big-ticket funding, and some sectors managed to hold ground

Razorpay makes Rahul Kothari chief operating officer for India, Malaysia

Fintech company that is backed by global investors is working to expand internationally

Sidbi inks agreement with DLAI, aims to boost India's fintech sector

The Small Industries Development Bank of India (SIDBI) on Saturday said it has inked an agreement with the Digital Lenders Association of India (DLAI) to boost the country's fintech sector. SIDBI and DLAI have signed a Memorandum of Understanding to this effect. The MoU aims for collaborations with SIDBI to develop standard protocols to expedite the adoption of digital lending partnerships including alliances between banks and Lending Service Providers (LSPs), co-lending collaborations among others, according to a statement. SIDBI will also provide resource support to eligible DLAI member NBFCs and also explore Assignment and Securitisation transactions, it added. "We are happy to work with the Industry on other important aspects like standard protocols, customer protection, grievance redressal, among others to facilitate faster adoption of digital lending," SIDBI CMD Sivasubramanian Ramann said. As a part of its business strategy, SIDBI is using digital technology and partnership

FACE adopts new code of conduct to strengthen customer protection

The association applied to become an SRO with the Reserve Bank of India (RBI) in January last year

Fintech firm Perfios raises $229 mn from Kedaara in Series D funding

Perfios, a B2B SaaS specialist, says investment will help it in 'providing access to financial services'

Top headlines: Delhi gears up for G20 Summit, Biden set to travel India

Business Standard brings you the top headlines at this hour

G20 great platform for banking, Fintech to showcase India's growth: SCB

G20 is a great platform for banking and Fintech to showcase what India has actually strived on and achieved from a growth standpoint, said Transaction Sales Chief

In mutual fund foray, Zerodha plans to emulate its broking playbook

To offer passive direct plans, while relying on digital route for distribution

Zepto becomes first unicorn this year, raises $200 mn at $1.4 bn valuation

This comes amid a funding slowdown where startups, across the board, have found it challenging to raise capital

Indian fintech start-up funding plunges 67% to $1.4 bn in 1st half of 2023

This decline in funding was largely due to the downward trend in early-stage investments, which plunged 81 per cent and 68 per cent from H1 2022 and H2 2022 respectively

Fintech firm Scapia raises $9 mn in funding round led by Matrix Partners

Fintech firm Scapia has raised USD 9 million (about Rs 74 crore) in a seed funding round led by Matrix Partners India for scaling up its co-branded credit card business, the company said on Wednesday. Tanglin Venture Partners, Binny Bansal's 3STATE Ventures and notable angel investors such as Keki Mistry (HDFC CEO) also participated in the funding round. Scapia is a travel fintech company on a mission to make travel accessible through its suite of financial products. It has launched co-branded credit card in partnership with Federal Bank which has been developed to target travelers. "We are excited to partner with our investors to help us scale and meet these customer needs. We see a massive opportunity for Scapia - less than 5 per cent of the population currently have credit cards and India is projected to have 200 million credit cards in circulation by 2030," Scapia, Founder Anil Gotetti said. The company has also built a travel platform within the app to enable customers to ...

Analysts cautiously positive on new age stocks despite improved Q4 metrics

Analysts say that investors with a high-risk appetite can consider accumulating these stocks but only on declines

APAC region to surpass US by 2030 to become world's largest fintech market

These regions, which are an underpenetrated market with nearly $4 trillion in financial services revenue pools, have the largest fintechs

BharatPe acquires majority stake in Mumbai-based NBFC Trillion Loans

Company that provides loans to small businesses will operate as independent entity

Fintech companies in talks to decide on rules for self-regulation

The RBI proposed the creation of a self-regulatory organisation (SRO) in March during a conference hosted by the Department of Payment and Settlement Systems

As govt tightens regulations, fintech firms search for legal experts

Industry experts said fintech firms are looking for senior professionals adept at handling legal and compliance-related issues to support their operations

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

PhonePe launches cross-border UPI payments service, says it's India's first

Users can activate UPI-linked bank account for the international service at the merchant location, or before that