Page 11 - Fintech Firms

BharatPe removes Ashneer Grover's profile from website

Along with BharatPe, Unity Small Finance Bank, which is a joint venture between BharatPe and the Centrum Group, has also removed his profile from its portal

Volopay to enter Indian market with $15 mn investment to start operations

Singapore-based fintech firm Volopay will invest USD 15 million (about Rs 113 crore) over the next 12 months to start operations in India, a senior startup official said on Wednesday.

Upswing Financial Technologies raises $4 mn from QED Investors, others

Upswing Financial Technologies will use the funds in building plug-and-play platforms for open finance and help fintechs and consumer tech players offer financial services seamlessly.

India draws $1.93 bn fintech investment in Q3; tops APAC: S&P Global

Going ahead, experts see the fintech landscape changing rapidly in India as digitisation of customers and merchants opens up new possibilities for players to provide financial services

BharatPe aims to facilitate $300 mn loan book for lending partners

Fintech firm BharatPe on Wednesday announced its foray into the 'Buy Now Pay Later' (BNPL) category with 'postpe'

CredAvenue raises $90 mn to scale up building infra to power debt markets

The funding round, led by Sequoia Capital India and co-led by Lightspeed, TVS Capital Funds and Lightrock, values the company at about $410 million

Indians embrace digital: Over 300 mn smartphone users use digital payments

From 'tankhwa' and 'kiraya', for 'shagun' and 'jugaad', digital payment is a pan-India habit

Fintechs make their presence felt in MF space, see sharp growth in assets

Ease of access, innovative analytical tools and lower investing cost helping them score over traditional players

GST Council meet on Friday; pvt fintech firms set to enter e-invoicing zone

GST Council may green-light entry given disappointing progress

UK-based fintech start-up Revolut to hire 300 staff for India support hub

The company also appointed Paroma Chatterjee, a former executive at Lendingkart and Via.com among other companies, as its chief executive in India, Revolut said

Tencent loses $62 bn in 2-day rout, wiping out value of fintech business

Like Ant, it will probably be required to establish a financial holdco

India's fintech industry seen at $150-160 bn by 2025: FICCI-BCG report

The Federation of Indian Chambers of Commerce & Industry (FICCI) and Boston Consulting Group (BCG) on Saturday unveiled 'India FinTech: A USD 100 Billion Opportunity' report. The report details the findings from the study that BCG and FICCI undertook to size the value-creation potential and identify imperatives for India's FinTech growth.

PayMate says has achieved annualised run-rate of $1.3 bn in GST payments

The firm's payment automation platform processed over $130 million GST payments monthly in 2020.

Digital transformation: E-lenders rely on tech, not recovery agents

The moratorium, announced in the wake of the pandemic, has put several digital lenders out of business, say people familiar with the matter

BharatPe set to become next unicorn after valuation crosses $900 mn

The fintech firm, which competes with players like Pine Labs, Paytm and Mswipe, provides payment technology and digital lending for offline businesses, including kiranas

Pine Labs launches AllTap app to turn phone into payment acceptance device

With AllTap, small merchants who aren't ready to invest in a traditional point-of-sale terminal can immediately start accepting digital payments on their NFC-enabled smartphone

Sold t-shirts at 16, cutting-edge digital spending solutions provider today

Raj Narayanam's fintech Zaggle is an SaaS firm that ensures its clients don't worry about financial control, as it uses cutting-edge tech to manage enterprise expenses and staff rewards & incentives

Tech Mahindra to acquire Payments Technology Services for Rs 66 cr

The acquisition will give Tech Mahindra access to IPs and licenses for two products - Open Payment Framework (OPF) and Multi-Bank System (MBS), a regulatory filing said

Razorpay gears up to digitise small businesses; aims at $50 bn TPV by 2021

Due to lack of trust, new merchants usually see 30% higher cart abandonments on the checkout page as compared to established merchants; Razorpay is aiming to change that

MF space set for digital disruption with likely entry of tech-heavy AMCs

Easing of profitability criteria could see entry of quant funds, robo advisory and smart ETFs