Page 29 - Fintech Sector

Cathie Wood's fintech ETF sells HDFC Bank for first time since May

HDFC Bank ranks among the world's most priciest mega banks

ByteDance says it will downsize fintech biz, plans to sell stock broker ops

ByteDance, the owner of TikTok, said it would shrink its financial services unit and that it planned to sell its stock broking operations amid China's tightening grip on the fintech sector

PayU acquires BillDesk for $4.7 bn in one of largest Indian fintech deals

The latest deal is happening when the Indian payments segment is seeing huge traction

Top headlines: India's Q1 GDP grows 20.1%; PayU buys BillDesk for $4.7 bn

Business Standard brings you the top stories this evening

Meet the IIT Roorkee grads who co-founded FamPay, the neobank for teens

The firm provides also financial literacy to teenagers, who have few options to open a bank account at their age; It crossed 2 mn users within eight months of launch

Gift City, India Insurtech ink pact to promote fintech in insurance sector

Gift City, the country's first international financial services centre, said it has collaborated with the India InsurTech Association to promote financial technology in the insurance sector

Axis Bank buys 5.55% stake in financial technology firm IBBIC

Stock of Axis Bank traded 2.47 per cent down at Rs 737.45 apiece on BSE.

Paytm eyes IPO by Oct-end, hopes to break even in 18 months: Report

Paytm's IPO plan comes at a time when several first-generation homegrown startups in India prepare to go public on domestic bourses

Capital India infuses over Rs 187 crore in education fintech Credenc

Capital India Finance Ltd (CIFL) on Monday said it has invested over Rs 187 crore (USD 25 million) in education-focussed lending fintech Credenc.

Razorpay acquires Bengaluru financial risk tech company TERA Finlabs

It is Razorpay's third acquisition in almost three years and follows its foray into Business to Business lending.

We helped shrink the working capital cycle: CredAble's Nirav Choksi

The fintech company is currently disbursing close to Rs 1,500 crore a month

Fintech firm Slice raises $20mn to challenge credit card industry in India

Slice has raised this amount from existing investors Gunosy, Blume Ventures among others.

Rise of digital pay: 1.5 mn small businesses adopt Razorpay in 15 months

The platform saw a growth of over 200 per cent from March last year to May this year in trans­action volume done by MSMEs.

Fintech firms expect business as usual by July, says FACE survey

These 20 firms combined serve 6.5-million-plus customers, of which 46 per cent are 'new to credit' customers.

Pvt cos may issue e-invoice: Fintech see scope in data, access to biz users

While e-invoicing alone may not generate high revenues, the key lies in the way fintechs leverage the data of enterprises to offer other products such as credit or supply chain finance

Y Combinator-backed Cashfree eyes global markets, fintech acquisition

It is expecting international revenue to make up 30 per cent of its total revenue in the next three years

Fintech hub at GIFT City: IFSCA in talks with overseas regulators

IFSCA in talks with 10 foreign counterparts to help Indian fintech firms expand globally

BharatPe plans to disburse Rs 14,000 cr in business loans by March 2023

The fintech company, which is soon expected to become a unicorn, has raised Rs 50 crore in debt from Northern Arc Capital

BHIM UPI transactions come down slightly to Rs 4.94 trillion in Apr

The digital transactions through BHIM UPI in April this year fell by 2.2 per cent from a month ago

BharatPe registers 106 million monthly UPI transactions in March

Fintech company BharatPe on Monday said it has clocked 106 million transactions in the UPI QR payments category in March, and aims to grow UPI payments by three times in 2021-22. The company recorded USD 830 million worth of transactions (USD 10 billion annualised) in March 2021, according to a statement. BharatPe continued its trend of outgrowing the market with an 8.8 per cent market share, it added. "Over the last 12 months, BharatPe has grown exponentially and has been able to establish itself as one of the fastest-adopted payment systems in the UPI person-to-merchant (P2M) segment. "The company has recorded a growth of 7x in volume of UPI transactions from April 2020 to March 2021," it said. Additionally, its Unified Payments Interface (UPI) payments vertical grew 23.7 per cent from February to March 2021. "The pandemic accelerated the growth of digital payments in the country. In fact, we saw all our business verticals grow manifold over the last one year. We outgrew the ma