Page 4 - Fintech Sector

China's Ant Group plans exit from Paytm with ₹3,800 cr share sale: Report

China's Ant Group to fully exit Paytm with ₹3,800 cr stake sale at ₹1,020 per share, following earlier exits by SoftBank and Berkshire Hathaway

PhonePe's Indus Appstore strikes pact with Alcatel after Lava, Xiaomi

Indus Appstore will now be pre-installed on Alcatel smartphones in India, marking its third OEM partnership after Lava and Xiaomi, expanding its reach and app discovery features

Fintech player Paytm's Q1 FY26 profit attributed to tight cost cuts

Paytm posted a net profit of Rs 122.5 crore in Q1FY26, driven by sharp cost controls, after a steep loss in the corresponding quarter of FY25

Setu makes leadership appointments, hires executives from major fintechs

Setu strengthens its leadership team with experienced executives from Razorpay, PhonePe, and other fintech giants to drive growth

Adani group firm to develop Paytm's IT complex on 10-acre plot in Noida

Adani group firm Manorview Developers will develop IT and ITes complex of fintech firm One97 Communications, which owns Paytm brand, in Noida, the company said in a regulatory filing. Paytm was allocated a 10-acre plot in Sector 159 of Noida for the development of the complex in 2018 by the Noida Authority. "We wish to inform you that the company has now taken a fresh step by proceeding to develop the project independently. Accordingly, the board has approved the proposal to appoint M/s Manorview Developers Private Limited, a wholly-owned subsidiary of Adani Infrastructure and Developers Private Limited, as the Engineering, Procurement, and Construction (EPC) Contractor, subject to execution of definitive agreements in this regard," the filing said. In January 2024, Paytm's board had approved execution of a joint development agreement (JDA) between the company and ACE Builders and Promoters to develop the complex. Under the arrangement, ACE was to raise requisite capital and funds

Fintech self-regulator issues code of conduct for regtech companies

For the first time, FACE has issued a code of conduct for RegTech firms, ensuring cooperation with regulators, data security, and adherence to guidelines set by financial sector authorities

Fintech firm PayU India to invest $120 mn by end of FY26, say senior exec

The credit business is expected to get an investment of $50-$60 million. PayU is considering another $60-$70 million infusion in payments infrastructure firm Mindgate Solutions

Fintech firm Cashfree Payments plans to add 100 lenders for VKYC by FY26

Cashfree Payments aims to scale its AI-based Video KYC solution to 100 lenders by FY26, targeting RBI-regulated entities to improve conversion rates and reduce wait times

DFS Secretary urges fintechs to drive offline payments, boost inclusion

DFS Secretary M Nagaraju on Monday urged fintechs to focus on driving offline payment solutions to enhance financial inclusions. "I would like to request fintechs to focus their attention on payment solutions for offline payment," Nagaraju said at the CII Summit on Financial Inclusion and FinTech. He highlighted that financial inclusion is increasingly recognised as a major factor in economic growth and poverty alleviation on a global scale. He pointed out that seven of the 17 United Nations Sustainable Development Goals (UN SDGs) are directly connected to financial inclusion. This suggests the importance of improving access to financial services for the unbanked and under-served populations, he said. To illustrate progress made in India, he recalled data from before 2014, when only about 35 per cent of adults in India had access to a bank account, as estimated by the Global Findex Database. In response to this situation, the Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched in

Funding to fintech companies marginally dips to $889 million in H1CY25

Fintechs in India raised $889.2 mn in H1CY25, down 5.3% YoY and 25.9% from H2CY24, as deal count dropped significantly and late-stage rounds led capital inflow

India's fintech sector ranks 3rd globally in H1 2025 funding round: Tracxn

Bengaluru-led funding activity in India with overall startups raising $889 million, down 26% from H2 2024, shows Tracxn fintech report

MobiKwik names Saurabh Dwivedi CTO, promotes Dhruv Wadhera to SVP

Saurabh Dwivedi joins as CTO to head payments, financial services, platform and InfoSec as MobiKwik focuses on AI-led tech; Dhruv Wadhera elevated to SVP

Watershed moments: How technology bolstered the financial inclusion

Govt started groundwork 50 yrs ago, but adoption and advancement of tech have sped up growth of financial services

Pine Labs plans ₹2,600 cr IPO; Peak XV, PayPal to trim stakes

Pine Labs files DRHP to raise ₹2,600 crore via fresh issue and OFS; proceeds to repay debt, expand globally, and invest in tech and digital checkout

Sitharaman says India's finance future is 'phygital', driven by UPI

At the Digital Payments Awards, Sitharaman lauds UPI's global success, urges fintech to tackle cybersecurity and deepfakes, and credits RBI's enabling regulation

Fintech POP raises $30 mn from Razorpay to build loyalty-first model

POP to use Razorpay's $30 million investment to drive innovation, expand rewards ecosystem, and deepen merchant ties in the fast-growing D2C payments segment

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

Digital payments jump, but robust fraud management key to users' safety

A safe payment system will help further the goal of financial inclusion and achieve higher, sustainable economic growth

Bengaluru-based Stable Money secures $20 million in series B funding

The Bengaluru-based company secured the latest round of funding from Nandan Nilekani's Fundamentum Partnership, Aditya Birla Ventures and participation from all the existing investors

New DLG provisioning norms: Fintech bodies hope for relief from RBI

Collecting data from fintechs to substantiate likely impact of double-provisioning