Fintech Firms

PhonePe crosses 50 million registered merchants across India ahead of IPO

Fintech major PhonePe on Tuesday said it has crossed 50 million lifetime registered merchants on its platform. The IPO-bound company noted its expansion from offering QR code-based payment solutions to providing a full-stack suite of financial tools, including working capital loans, Point-of-Sale (POS) terminals, and SmartSpeakers. "Reaching 50 million merchants is a significant milestone in our effort to make financial services more accessible to merchants across India. For many of our partners, the journey began with a simple QR code, but that relationship has since matured. Today, digital payments serve as a gateway to a wider range of formal services, including credit," Yuvraj Singh Shekhawat, Chief Business Officer, Merchant Business, PhonePe, said. Launched in 2016, PhonePe has over 65 crore registered users. The latest development comes as the company prepares for its initial public offering (IPO), having recently filed an updated draft red herring prospectus (UDRHP-I) with .

Peak XV Partners fully exits Mobikwik in block deal worth ₹130 crore

Venture capital firm Peak XV Partners has fully exited from fintech firm One MobiKwik Systems through a block deal of over Rs 130 crore, sources aware of the development said. According to sources, Peak XV was one of the early investors in the firm and exited at three times of its investment value. "Peak XV Partners has sold around 61 lakh shares, about 7.7 per cent of the company share capital, at an average sale price of Rs 214 share apiece. The total deal size is close to Rs 130 crore. With this sale, Peak XV has completely exited from the firm," a source said. A query sent to Peak XV and One Mobikwik elicited no immediate reply. Florintree, Viridian Asset Management, Dymon Asia and Karma Capital have bought stakes from Peak XV. The development comes a day after the company announced RBI granting a NBFC license for its new subsidiary- MobiKwik Financial Services Pvt Ltd.

Paytm's wallet sees a shake-up as RBI cancels payments bank licence

Company claims no material impact despite cancellation of payments bank's licence

Pine Labs acquires Shopflo in ₹88 crore deal to expand D2C ecosystem

Acquisition of checkout platform Shopflo aims to strengthen Pine Labs' full-stack commerce offering and deepen engagement with D2C merchants across online and offline channels

Nervous Indian fintech firms push Anthropic for early access to Mythos

Regulators, central bankers and executives have been on high alert after it emerged that Mythos can discover cybersecurity vulnerabilities that have gone undetected for years

Fintech Bachatt raises $12 million in Series A round led by Accel

Startup plans to scale its savings platform and build AI-led wealth and credit solutions targeting India's 300 million merchants and self-employed segment

QED Investors plans $250-300 mn investment in India fintech space

QED Investors plans to invest $250-300 million in India over two fund cycles, focusing on AI-driven fintech opportunities in fraud, compliance and voice applications

Revolut plans to base 40% of its global workforce in India by 2026

The new positions will span product development, support functions and financial services functions such as payment processing and fraud investigations

Dream Sports sharpens focus on 11 portfolio companies after RMG ban

Company pivots beyond real-money gaming, expands into fintech and AI while strengthening portfolio of 11 businesses to regain user engagement

Cred enables Face ID, fingerprint authentication for UPI payments

Cred introduces biometric authentication for UPI payments, allowing users to use Face ID or fingerprints instead of PINs for added security and convenience

BharatPe appoints Himanshu Verma as head of its POS business unit

Fintech firm BharatPe on Thursday announced the appointment of Himanshu Verma as Head of its POS Business, effective immediately. He will focus on driving merchant adoption, strengthening distribution, and scaling the company's offline payments ecosystem. Verma brings over twenty years of experience across channel sales and distribution, go-to-market strategy, UPI payments, POS/EDC acquisitions, merchant acquisition, and the broader digital payments ecosystem. He has held key leadership roles at Pine Labs, Freecharge, Indepay Networks, Bharti Airtel, Samsung India, Uninor, and Vodafone. In his most recent role at Pine Labs, Himanshu served as Senior Director and National Business Head -- Soundbox (Mini), where he led the incubation, launch, and scale of the business. Verma will report to BharatPe CEO Nalin Negi. "His deep experience in scaling large payment businesses and driving disciplined execution will be key as we continue to strengthen our POS portfolio and expand our merch

The contours of fintech 2.0 are becoming clear in era of AI governance

The industry is shifting from pandemic-era exuberance to AI-driven discipline, prioritising sustainable unit economics and robust governance over vanity metrics for long-term growth

MobiKwik turns profitable in Q3FY26 on revenue growth, lower costs

Fintech firm MobiKwik reported a consolidated net profit of ₹4.04 crore in Q3FY26, aided by revenue growth and a sharp decline in expenses, after posting losses in earlier quarters

When devices think: Intelligent computing firmly comes to fintech

As fintech shifts to devices, AI, IoT, and on-device intelligence are transforming payments, lending, and fraud control, making devices central to the next phase of banking

ToneTag bets sound waves will power next generation of digital payments

Bengaluru-based ToneTag processes over $3 billion a month using sound wave technology, enabling secure, cardless payments in India and emerging markets while expanding globally

Payments major revenue contributor for PhonePe, Paytm diversified

Despite similar toplines, Paytm and PhonePe differ sharply in revenue mix, with PhonePe heavily reliant on payments while Paytm draws more from financial services

Fintech Juspay raises $50 mn in Series D follow-on at $1.2 bn valuation

Funding round led by WestBridge Capital includes primary and secondary investment

Fintech major PhonePe secures Sebi approval for IPO, to pursue OFS route

The listing will target a pure offer-for-sale (OFS) route, a source said

Skydo receives final RBI authorisation for cross-border payments

Skydo's PA-CB-I licence enables it to process cross-border payments, specifically for facilitating inward transactions

Fintech firm Fibe raises $35 million from IFC in Series F funding

The Series F investment comes about 18 months after the Pune-based company raised $90 million in a Series E funding round led by TR Capital, Trifecta Capital, and Amara Partners