Page 22 - Fintech

udaanCapital ties up with Northern Arc Capital for financing 50,000 kiranas

udaanCapital currently helps disburse over Rs 8,000 crore credit a year to 150,000 kiranas and small businesses. The credit is short-term and ranges from Rs 10,000 to Rs 25 lakh

Banks globally need to compete with fintech players to keep pace: Report

Nearly half of respondents said their current banking relationships were neither rewarding (49 per cent) nor emotionally connected (48 per cent), while 52 per cent said banking was not 'fun'

Top headlines: DoT strategising to protect IP, brokerages' 10 stock bets

Business Standard brings you the top headlines this morning

MobiKwik elevates Anshuman Misra as Chief Product and Technology Officer

Anshuman Misra will work with the product, design, engineering, infrastructure and security functions at MobiKwik

BharatPe posting record growth, has put behind Grover controversy: CEO

BharatPe, which allows shop owners to make digital payments through QR codes, is now in 225 cities (more than 2x growth from last fiscal)

BharatPe's Ashneer threatens legal action over comment against sister

In a letter written to BharatPe Board, Ashneer said that Sameer should be "immediately served a show-cause notice for his despicable public behaviour and immediately put on leave of absence

Bharatpe CEO apologises for salary remark; firm says March salary paid

A Bharatpe employee in a Linkedin post had raised the matter of termination of administrative staff and non-payment of salaries, which attracted responses from Grover and CEO Sameer

BharatPe FY22 revenue grew four-fold to $100 mn, monthly cash burn at $4 mn

The fintech unicorn said its annualised TPV has grown 2.5x over the year-ago period to $16 billion at the end of the March quarter

MakeMyTrip's fintech arm TripMoney buys majority stake in BookMyForex

MakeMyTrip's fintech arm TripMoney on Tuesday said it has acquired a majority stake in online foreign currency exchange services provider BookMyForex to become a one-stop solution for all forex need

PhonePe plans to fill 2800 positions in 12 mths, to hire across functions

The Walmart-owned fintech firm is focused on doubling employee strength to about 5400.

First close of Venture Catalysts-backed Beams Fintech Fund at Rs 270 cr

Beams has a target corpus of $100 million; will primarily back fast-growing fintech firms in their Series B & C rounds

U GRO Capital appoints Smita Aggarwal as additional independent director

U GRO Capital's AUM had risen to Rs 2,589 crore and its branch network stood at 82

EnKash raises $20 million in funding round led by Ascent Capital

Baring India and Singapore-based White Ventures also participated in the series B funding round along with existing investors, Mayfield India and Axilor Ventures.

Fintech has spread far and wide in India, banks need a counterattack

Banks aren't intuitively geared to handle the unique requirements of small businesses

Board is charting out glide path for listing of BharatPe: Rajnish Kumar

The company's transition from an individuals-driven private firm to a board-driven listed public one will be carried out in a well-thought-through and well-executed manner, said the BharatPe chairman

Fintech delinquency rates are not alarming: LenDenClub CEO Bhavin Patel

The government is focusing on certain sectors like, say, infrastructure, and you will have a boom as a result of this: Patel

Funds raised by Indian fintechs sees 296% jump in 2021 at $5.94 bn

Payments, according to the report, was the second-most popular category for US investors, as 167 companies received funding in 2021 in the APAC region.

Silicon Valley adage of fail fast not feasible in fintech: Zerodha CTO

In a Q&A, Kailash Nadh dwells on the complexities of building fintech products and ensuring engineers fit in culturally

UPI open architecture limits fintech growth in other fin services: Moody's

Despite their dominance, fintechs do not have exclusive access to transaction data on the UPI as banks play a critical role in executing UPI transactions

BS CEO round table: Six bank chiefs agree that worst is over for industry

There are some risks and we need to be watchful, say bank chiefs