Page 4 - Fintech Companies

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

Suhail Sameer to start VC fund with two former co-founders: Report

On Tuesday, BharatPe announced that Sameer was stepping away from his post and will serve as the Strategic Advisor effective January 7

PayU gives pink slip to 150 employees, no plans of 'major downsizing'

The layoffs were undertaken to realign the teams locally

Money View raises $75 mn in Series E by Apis Partners, valued at $900 mn

Founded in 2014, Money View provides personalised credit products and personal financial management solutions

Rs 25 cr to be granted for Mangaluru industrial cluster in Karnataka

The Karnataka government will release a seed capital of Rs 25 crore for setting up an industrial cluster in the city, state Minister for IT, BT and Higher Education Ashwath Narayan said on Saturday. The government will also establish a two-lakh square feet 'Mangaluru Innovation Hub' through Karnataka State Electronics Development Corporation (KEONICS), aimed at encouraging industrial development of coastal districts, he said, addressing the Mangaluru Technovanza organised by the Mangaluru Cluster of Karnataka Digital Economy Mission (KDEM). The minister said the innovation hub will be established in cooperation with Infosys and other companies, which will cater to the industrial development of Dakshina Kannada, Udupi, Uttara Kannada and Kodagu districts. Narayan praised the coastal region, especially Dakshina Kannada and Udupi districts, for being the cradle of banking. The region has a suitable, conducive and enterprising environment and the government is keen to develop the ...

Fintech firms Razorpay, Cashfree can't onboard new merchants for now

Razorpay said it was a temporary move and will not have any impact on its existing business operations and current merchants

Surprise corporate actions by Indian tech darlings spur scrutiny

While within the rules, experts not convinced by buyback move of fintech firms

RBI advises fintechs to focus on governance, data protection issues

Das advised fintechs to pay close attention to governance, business conduct, data protection, customer centricity, regulatory compliance and risk mitigation frameworks

Fintech firm Enkash claims three-fold growth in valuation since March

Start-up that helps businesses manage their payments says it will not seek more funding this financial year

KreditBee raises $80 million in Series D from Premji Invest, others

The fintech firm aims to cross an AUM of over $1 billion in the next 6-9 months

Four senior execs quit BharatPe, to pursue 'entrepreneurial passions'

Among the top brass leaving today were Vijay Aggarwal, Rajat Jain, Geetanshu Singla, and Nehul Malhotra

Smart pickup in good jobs

The estimated 0.7 million additional jobs created by listed companies may easily more than offset the recent layoffs seen in tech companies