Page 4 - Fintech Firms

ICRA to acquire risk solution firm Fintellix India for $26 million

ICRA has entered into a definitive agreement to acquire Fintellix India, a provider of risk and reporting solutions to global financial institutions, for USD 26 million. In a stock exchange filing, ICRA said its board has granted approval for the acquisition of 100 per cent shareholding in Fintellix India Pvt Ltd for a consideration of INR equivalent to USD 26 million by way of a secondary purchase, pursuant to execution of a share purchase agreement and other transaction documents. Commenting on the development, Ramnath Krishnan, MD & Group CEO of ICRA, said, "With this acquisition, we reiterate our commitment to being a leading risk technology player. This space is fast evolving with increasing regulatory scrutiny in financial markets, and we believe Fintellix and ICRA together will better address the emerging market needs." The rating agency said the acquisition will additionally strengthen ICRA Group's portfolio of credit risk assessment and monitoring tools by adding risk ...

Cred's valuation slump signals caution for India's fintech companies

The sharp markdown despite backing from existing investors reflects growing investor caution and a broader recalibration in the Indian fintech and credit-led ecosystem

Fintech firm Decentro initiates reverse-flip process from Singapore

This comes at a time when the Bengaluru-based firm is raising about ₹30 crore as part of the Series-B funding round led by InfoEdge Ventures

Fintech major PhonePe appoints new board member as it prepares for IPO

PhonePe is the largest player on India's real-time payments system Unified Payments Interface (UPI). It reversed its listing from Singapore to India in 2022

Q4 results: MobiKwik suffers Rs 56.03 cr loss, ops revenue up marginally

For the full FY25, the Gurugram-based company recorded a loss of Rs 121.5 crore

Fintechs push AI, new protocol to simplify backend tools for merchants

Cashfree and Razorpay use AI agents and a new protocol to simplify backend systems and automate payments, easing merchant operations across fintech platforms

Expanding services in cybersecurity, Cloud computing, says Akamai exec

Data sovereignty and technology costs 'extremely critical' issues for Indian companies, says Mitesh Jain

Optimise credit card rewards by picking high-value redemption option

"They swipe the same card for every transaction, regardless of whether it offers optimal rewards for that category," says Adhil Shetty, chief executive officer (CEO), Bankbazaar.com

Credit card fintech Scapia raises $40 million in Series B funding round

The company plans to enhance its product offerings, strengthen its team, and accelerate its growth plans

Fintech firm Biz2X plans to hire 200 professionals across roles in FY26

Digital lending SaaS platform Biz2X, which has a current workforce of about 1,000, will hire over 200 professionals across AI, data science, engineering, product management, and technology in India in the next financial year. Biz2X is a turnkey global SaaS platform that enables financial institutions to provide a customised online lending experience for their small and mid-size business customers. India's digital lending landscape is undergoing a paradigm shift, with artificial intelligence (AI) emerging as the backbone of financial sector especially for risk assessment and credit decisioning, said Rohit Arora, co-founder and CEO of Biz2Credit and Biz2X. Arora outlined Biz2X's ambitious AI-led expansion plans, which includes the development of real-time credit models, partnerships with financial institutions. "The company also has robust hiring plans in the year ahead. Biz2X, with current workforce of 1,000 plus, will look to hire over 200+ professionals across AI, data science, ..

Prosus-backed fintech firm PayU buys 43.5% stake in Mindgate Solutions

The deal will allow PayU to expand into the real-time payment processing market, including the Unified Payments Interface (UPI)

UPI incentive cut worries industry again; calls for MDR grow louder

Industry's concerns surfaced after the government approved ₹1,500 crore in a scheme for the promotion of low-value BHIM-UPI transactions when made from peers to merchants

Fintech firm Pine Labs targeting Indian IPO in second half of 2025: CEO

Pine Labs, whose main backer is venture capital firm Peak XV, offers full stack payment solutions including point-of-sale machines to merchants for card payments

Razorpay eyes group profitability ahead of IPO plans, expands to Singapore

The Tiger Global Management-backed company is focused on becoming profitable on a consolidated basis across all business verticals, said Shashank Kumar, co-founder and managing director of Razorpay

Razorpay enters Singapore, its 2nd international foray after Malaysia

The expansion into Singapore comes on the back of the company's focus on the South East Asian market

Flipkart-backed super.money acquires checkout financing platform BharatX

The company plans to introduce checkout financing for direct-to-consumer (D2C) and e-commerce brands

PhonePe begins IPO process, set to become third fintech to list in 5 years

PhonePe said its "strong top line and bottom line growth" across business portfolios makes it a suitable time for public listing

PayU appoints new risk officer in a streak of new leaderships hires

Rao's appointment follows a streak of leadership changes at the payments technology company

PhonePe launches device tokenisation for credit and debit card transactions

This is a first among companies that have decided to offer direct solutions to customers without requiring a merchant's reliance on third-party payment orchestration platforms

Razorpay elevates Haria to role of CPO as it eyes Southeast Asia expansion

The appointment comes at a time when the company is planning to expand in Southeast Asia and focus on expanding Unified Payments Interface (UPI) and Razorpay POS