Page 27 - Fintech

The financial world has to rethink the way it caters to women: salt.com CEO

Shinjini Kumar, the firm's co-founder and CEO spoke to Raghu Mohan

Paytm's GMV up 131% to $11.2 billion in Oct as festive-time spends rise

The company, in a disclosure to the exchanges, said that the growth was driven by the festive season and an increase in number of merchants and consumers

The risk factor

New-age tech firms are inherently more risky

Fintech start-up PhonePe to buy back ESOPs worth Rs 135 cr from employees

In Dec last year, PhonePe launched a program to allot ESOPs to its 2,200 employees starting at a minimum of Rs 3.5 lakh, cumulatively worth Rs 1,500 crore

Karnataka sets up fintech task force with Razorpay, Zerodha founders

The task group will work towards creating a roadmap for the growth of the industry, identifying the opportunities and challenges faced by the fintech ecosystem

Velocity raises $20 mn in funding round led by Peter Thiel's Valar Ventures

The fintech firm plans to deploy over Rs 1000 crore in India's e-commerce brands

What is e-RUPI and how can it plug leakages in direct benefits transfer?

The govt recently launched e-RUPI vouchers to transfer the benefits of its welfare programmes. A person- and purpose-specific digital payment system, it does not require beneficiaries to a smartphone

Moglix-owned Credlix acquires Singapore-based EXIM fintech startup NuPhi

The acquisition comes shortly after Moglix's entry into the Middle East region

Paytm: India's largest-ever IPO seen as a 'high-risk bet' for investors

'Nothing is really going to happen (for Paytm stock) in short-term. I would say demand will come through but maybe not a big listing pop,' says Rakhi Prasad, an investment manager with Alder Capital

SpiceJet seeks to widen customer base with a book-now-pay-later scheme

Ties up with fintech company Capital Float to enable customers to pay for their tickets in instalments

Fintech firm Paytm signs up over 100 institutional investors for IPO

BlackRock Global Funds, Canada Pension Plan Investment Board and Abu Dhabi Investment Authority were among the investors

Niyogin Fintech continues to make losses, revenue rises 231% in Sept qtr

The company's balance sheet has become debt free and had cash and cash equivalents of Rs 171.4 crore as of the quarter ended September

Warren Buffett, Goldman Sachs win from fintech gold rush in India

India's digital transactions are expected by PricewaterhouseCoopers to touch $3 trillion by March 2025 from more than $1.3 trillion now

BFSI Insight Summit: Banks and fintech firms must coexist, says Aditya Puri

Adds financial services sector has potential to leapfrog competition

BFSI Summit: There's so much to sell, everyone can make money, say experts

Panelists say banks shouldn't feel threatened by fintech companies, rather they should feel enabled

Fintech software provider Hypto raises $3 mn from Stellaris, 3one4 Capital

The platform has processed over 55 million transactions totalling over $15 billion and currently works with over 10 banks

BharatPe raises Rs 100 crore in debt from MAS Financial Services

This is the eighth round of debt fund raise for the company in 2021. BharatPe has raised over Rs 600 crore (about USD 84 million) in debt this calendar year

Top headlines: IPO-bound Ola to see top-level exits; CRED valued at $4 bn

Moody's upgrades outlook on Indian banking from 'negative' to 'stable'

Biz2Credit plans to invest $100 million in India over next 5 years

Fintech firm Biz2Credit plans to invest USD 100 million in India over the next 5 years on research and development as well as expanding operations. The company is also planning to strengthen its technology team by adding over 150 new employees in 2021 across various positions, including entry, mid- and senior-level positions. "We are delighted to see such massive growth in our business in India, this gives us the hope to further invest in Indian operations. Despite the uncertainties that two waves of the coronavirus pandemic unleashed, we have clocked a massive growth in the revenue with 15-plus new client wins and eyeing a greater leap in the next 10-12 months," Biz2Credit CEO and co-founder Rohit Arora said in a statement. Founded in 2007, Biz2Credit is backed by Nexus Venture Partners. In 2019, the online lending platform completed a Series B capital financing round of USD 52 million led by WestBridge Capital. "The investment will be spent mainly in R&D, operations, and ...

RBI dy guv says big tech's financial sector play in India under watch

Both Google Pay and Amazon have announced partnerships with lenders to accept deposits in the country through their mobile phone apps.