Page 11 - Fintech Firms
Loan disbursements for Paytm up nine-fold to over Rs 5,550 crore
The number of loans disbursed through our platform grew 492% y-o-y to 8.5 million loans in the quarter ending June 2022, while the value of loans disbursed grew 779% y-o-y to Rs 5,554 crore ($703 mn)
 "Loan disbursements for Paytm up nine-fold to over Rs 5,550 crore")
Lendingkart raises Rs 75 cr in debt fund from GMO LLC, Triodos Investment
The company will use the funds to originate MSME loans across all states with credit decisions in a live environment using in-house built origination engine 'xlr8' and 'zero touch' features.
 "Lendingkart raises Rs 75 cr in debt fund from GMO LLC, Triodos Investment")
Cryptocurrencies are a 'clear danger': RBI governor Shaktikanta Das
Indian fintech industry value projected to hit $150 bn by 2025
 "Cryptocurrencies are a 'clear danger': RBI governor Shaktikanta Das")
The RBI is no fan of 'buy now, pay later' and it's wholly understandable
Last week, the Reserve Bank of India brought out its regulatory axe and hacked away at a popular path to small-ticket fintech loans
 "The RBI is no fan of 'buy now, pay later' and it's wholly understandable")
FinMin asks banks to explore fintech partnership, co-lending opportunities
The Finance Ministry has asked public sector banks to explore fintech partnerships and co-lending opportunities to expand their business
 "FinMin asks banks to explore fintech partnership, co-lending opportunities")
RBI explores ways to ensure customer safety while dealing with PPIs
Earlier this week, RBI issued an advisory clarifying that non-bank PPI issuers cannot load their wallets and cards from credit lines or preset borrowing limits
 "RBI explores ways to ensure customer safety while dealing with PPIs")
Fintech firms seek six month-extension to comply with RBI credit line norms
RBI had barred the loading of prepaid payment instruments (PPIs) from credit lines
 "Fintech firms seek six month-extension to comply with RBI credit line norms")
RBI's credit line norms: Card-based fintech players may have to stop offers
Some of the players expected to take a hit due to the RBI's diktat are Slice, Uni Cards, Jupiter, EarlySalary, etc
 "RBI's credit line norms: Card-based fintech players may have to stop offers")
Top Headlines: COAI on captive pvt networks, fintechs see surge in loans
The IRDAI is considering a proposal to make insurance frauds a parameter for calculating credit scores in an attempt to put a lid on the increase in such activity
 "Top Headlines: COAI on captive pvt networks, fintechs see surge in loans")
Small ticket, big business: Fintech firms see surge in instant loans
A recent report by CRIF High Mark has it that small-ticket personal loans contributed 50 per cent by volume in FY21
 "Small ticket, big business: Fintech firms see surge in instant loans")
Third major exit at BharatPe as founding member Satyam Nathani quits
He was to play a key role in Unity SFB, which was acquired through a BharatPe-Centrum Financial JV; CRO Nishit Sharma, head of institutional debt partnerships Chandrima Dhar had resigned earlier
 "Third major exit at BharatPe as founding member Satyam Nathani quits")
PolicyBazaar owner PB Fintech's shares slumps 11.5% as CEO divests holdings
Sheds 15% intraday before reversing some of the losses to end at Rs 582.8 on BSE
 "PolicyBazaar owner PB Fintech's shares slumps 11.5% as CEO divests holdings")
The corporate card market is ripe for change: Volopay's Rohit Bhageria
We have raised approximately $32 million in a mix of debt and equity, Bhageria said
 "The corporate card market is ripe for change: Volopay's Rohit Bhageria")
Fintech for every merchant
Fintech firms have created an ecosystem of trust and supportiveness for merchants, by helping them with creative solutions and innovative products
 "Fintech for every merchant")
Sachin Bansal's Navi Finserv's Rs 300-cr debt bond subscribed 1.4 times
The fintech firm's secured, rated, listed and redeemable non-convertible debentures (NCDs) have a total value of Rs 600 crore after including the greenshoe option of Rs 300 crore.
 "Sachin Bansal's Navi Finserv's Rs 300-cr debt bond subscribed 1.4 times")
Will fintech firms' governance standards, role of PEs attract scrutiny?
Fintech promoters, their private equity backers, and regulated entities that have teamed up with new-age firms will need to go back to the drawing board
 "Will fintech firms' governance standards, role of PEs attract scrutiny?")
PhonePe to more than double employee count to 5,400 by December 2022
Digital payments platform PhonePe on Tuesday said it plans to more than double its total employee strength to 5,400 across the country by the end of December 2022 from existing 2,600
 "PhonePe to more than double employee count to 5,400 by December 2022")
Indian fintech payment firms have no data advantage over banks: Moody's
As RBI barred Paytm from taking on new customers for its Payments Bank, a new report said fintech platforms' dominance in digital payments may not result in a significant data advantage over banks
 "Indian fintech payment firms have no data advantage over banks: Moody's")
India-based investors 2nd to provide fintech investments in APAC in 2021
India-based investors were a distant second in providing funding to fintech in Asia-Pacific after the US in 2021, a report said
 "India-based investors 2nd to provide fintech investments in APAC in 2021")
IPO-bound Mobikwik posts first-ever profit in Dec 2021 quarter: Co-founder
IPO-bound fintech firm Mobikwik became profitable in the December 2021 quarter and expects to close the current financial year with almost two times growth in revenue, a top company official has said
 "IPO-bound Mobikwik posts first-ever profit in Dec 2021 quarter: Co-founder")