Page 4 - Fintech Sector

FinBox raises $40 mn from WestBridge to boost AI-led credit platform

Credit infrastructure fintech FinBox raises $40 million in Series B led by WestBridge Capital to strengthen AI-driven lending products, expand globally, and scale fraud intelligence

Fintechs offer secured lending with instant loans against mutual funds

Fintechs including PhonePe, Paytm, BharatPe, and Cred roll out loans against mutual funds, offering instant, fully digital secured credit at lower capital costs for investors

RBI fines PhonePe ₹21 lakh for non-compliance with PPI regulations

RBI penalises PhonePe Rs 21 lakh for failing to report escrow shortfalls under PPI norms, marking its third penalty since 2019 over compliance issues

UK PM Starmer to attend Global Fintech Fest 2025 alongside PM Modi

UK Prime Minister Keir Starmer will join PM Modi at Global Fintech Fest 2025, the first foreign head of state to do so, with AI, licensing and stablecoins set to dominate discussions

Turtlemint Fintech Solutions files confidential DRHP with Sebi for IPO

The insurance distribution platform has filed a pre-filing DRHP with Sebi and stock exchanges, but clarified that the filing does not necessarily mean an IPO will follow

Global market turbulence may keep fintech fundraising under pressure

Fintechs raised $889 million in H1 2025, down 26 per cent from H2 2024 and 33 per cent from H1 2024, as valuations cool, regulations tighten, and investors adopt a wait-and-watch approach

TransBnk raises $25 million to expand banking infrastructure platform

TransBnk secures $25 million in Series B funding led by Bessemer to expand into Southeast Asia and Middle East while strengthening its domestic banking infrastructure platform

Paytm winds up RMG business, to invest in Paytm Money and Paytm Services

Following the RMG ban, Paytm's First Games unit ceases operations; parent OCL approves investments in Paytm Money and Paytm Services and simplifies group structure

Fintech Kiwi raises $24 mn Series B, aims profitability in two years

The round also saw participation from Nexus Venture Partners, Stellaris Venture Partners, and Omidyar Network

BharatPe to double down on online payments after RBI licence approval

The push comes amid RBI's final licence approval and intensifying competition

B2B fintechs turn to M&As to expand business lines and enter retail market

B2B fintechs are increasingly turning to the consumer side of the payments market, using third-party UPI applications (TPAPs) as entry points

IRCTC harbours fintech ambitions with new payment aggregator entity

With RBI's in-principle nod for IRCTC Payments, the rail PSU plans to process transactions in-house, cut costs, and expand payment services beyond railways

PhonePe tops UPI in July with 8.93 bn transactions, 46% market share

PhonePe processed 8.93 bn UPI transactions in July, ahead of Google Pay's 6.92 bn, as total UPI volume hit a record 19.46 bn worth ₹25.08 tn, NPCI data shows

Paytm's PA nod may increase market competition in digital payments

RBI's in-principle approval allows Paytm to resume merchant onboarding, lifting 2022 restrictions and opening the field to stronger competition in the payments space

Paytm waits on mkt cap rule to ramp up UPI: MD & CEO Vijay Shekhar Sharma

Paytm CEO says the firm will deepen its UPI push once market share caps are imposed in 2026; aims to grow merchant services, go AI-first, and expand globally

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