Page 23 - Fintech

IIT Madras, RBI Innovation Hub join hands to boost fintech startups

Through this strategic collaboration, the two organizations will jointly provide incubation support and nurture early-stage startups with innovative

Clear acquires supply chain financing tech firm Xpedize for undisclosed sum

Deal will help the acquirer quickly scale and lead the invoice discounting space

Razorpay acquires Pune fintech startup IZealiant Tech for undisclosed sum

The acquisition of IZealiant will further strengthen Razorpay's Banking Solutions Arm to build innovative payment banking technologies for partner banks

Softbank representative Munish Varma resigns from Paytm, PB Fintech boards

Softbank Vision Funds India Holdings (Cayman) holds a 17.47 per cent stake in Paytm

Payworld expects to double revenue in FY23, increase transaction by 40%

Fintech firm Payworld expects to increase gross transactions on its platform by about 40 per cent and double net revenue in the next financial year, a top official of the company said. Payworld CEO Praveen Dhabhai told PTI that the company expects gross transaction value (GTV) on its platform to grow about 46 per cent to Rs 11,000 crore in the current financial year from Rs 7,500 crore it recorded in 2020-21. "This financial year we will close at about Rs 11,000 crore and for the next financial year we want to grow our GTV by 40 per cent but we are planning to almost double our net revenue," Dhabhai said. Payworld provides a platform to retailers for selling train tickets, Aadhaar-enabled payment services, mutual funds,insurance sale, Fastags etc. Dhabhai said the company is adding more services and partnering with B2B e-commerce platforms to enable retailers to source products directly without any need for visiting wholesalers or distributors. "We add 25,000-30,000 retailers ever

50% customers ready to switch banks in next 12 months: Bain & Company

If it's a good deal, many willing to shift to fintech players, neo banks, among others

Mobikwik to raise private funding as stock market turns bearish

Fintech start-up turns profitable for the first time in December quarter on massive BNPL uptake

Mastercard invests undisclosed sum in fintech firm Zeta

Fintech company Zeta has raised funds from global payments major Mastercard by selling an undisclosed stake.

Kid-focused pocket money fintech Junio raises $6 mn in pre-Series A round

UAE-based firm NB Ventures leads investment; The startup will use the capital to bolster its team, roll out new product features, and scale up customer acquisition initiatives

Junio raises $6 mn in pre-series A funding round led by NB Ventures

Junio aims to digitise pocket money for children and be the preferred digital payment option.

Religare Enterprises is now debt-free, shares up 3% amid new vertical plans

The company said it will enter new sectors such as Asset Reconstruction, Alternate Investment Funds, Insurance Broking, Digital Wealth Management

PhonePe, NITI Aayog announce FinTech Open Hackathon winners

The first prize was awarded to a hack called BizFiz, a solution for MSMEs to make loan application processes easier and make the process of loan underwriting easier for banks.

Ashneer Grover resigned after receiving Board meet agenda on PwC probe

Ashneer Grover's 9.5% stake in the company might be clawed back as it is on the Board's agenda to deliberate on the issue in the meeting tonight.

UPI logs 4.52 bn transactions worth Rs 8.26 trn in Feb, lower than Jan

In FY22 so far, UPI has processed a little over 40.49 billion transactions worth Rs 74.51 trillion

Volopay raises $29 mn from Winklevoss twins, JAM Fund, and others

Volopay has amassed a clientele with the likes of CoinDCX, Livspace, MPL, InVideo, and MX Media.

Upswing Financial Technologies raises $4 mn from QED Investors, others

Upswing Financial Technologies will use the funds in building plug-and-play platforms for open finance and help fintechs and consumer tech players offer financial services seamlessly.

Prime Venture Partners' Fund IV closes at $120 million

It will invest in disruptive technology companies across fintech, edtech, healthtech, consumer internet and Global SaaS.

The unravelling of Ashneer Grover's fortunes: A blow-by-blow account

Murmurs of a toxic work culture at BharatPe grew louder in the wake of its co-founder's personal behaviour

Unity SFB not affected by BharatPe tussle: Centrum Capital's Jaspal Bindra

Jaspal Bindra says Centrum's partnership is with funds like Sequoia, not Grovers

Policybazaar falls 8%, hits new low; stock tanks 52% in three months

In the past two weeks, PB Fintech has slipped 28% after Yashish Dahiya, executive director and CEO, and Alok Bansal, whole time director and CFO, sold 6.09 million shares of the company