Page 5 - Fintech Sector

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

Reserve Bank of India lens on payment fintechs over misclassified merchants

Several payment aggregators are said to have misclassified merchants, typically in the retail category, under utility - a segment that traditionally draws lower interchange rates

Fintech firm Razorpay completes reverse flip from US to India ahead of IPO

Fintech firm Razorpay has moved its parent company's domicile from the US to India as it gears up for an IPO, joining the growing trend of Indian startups relocating home

Flipkart-backed super.money eyes neo-bank play in India's fintech race

With 175 million UPI transactions, super.money eyes top 5 neo-bank spot by expanding into credit, wealth and insurance while maintaining cashback-led engagement

CreditAccess Grameen eyes 15% retail finance share by FY28 amid MFI stress

The lender plans to raise the retail loan share from 6% to 15% by FY28, with a shift to secured lending like housing and business loans amid pressure on microfinance

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