Page 29 - Fintech

Processing about 1.5 bn transactions a month: PhonePe CEO Sameer Nigam

Nigam said that the fintech firm is aiming to reach 900 million people in the next 8-10 years

Processing about $1.5 billion transactions a month, says PhonePe

Fintech major PhonePe on Thursday said it is processing almost $1.5 billion transactions a month, and about 80 per cent of its users are from tier-II cities and beyond

Delhi court gives police three weeks to conclude Paytm ownership probe

Ashok Kumar Saxena, 71, said in legal documents that he had invested $27,500 in Paytm parent One97 Communications two decades ago, but was never allotted any stock

Aiming to raise $700 mn in debt over next 2 yrs: BharatPe CEO Suhail Sameer

Delhi-based BharatPe said it has raised Rs 100 cr each as debt from IIFL Wealth & Asset Management, and Northern Arc Capital

Amazon, Premji Invest back fintech smallcase in $40 mn funding

The capital raised will be used to launch better investment products for the retail investor

MobiKwik appoints Punita Kumar Sinha, 3 others as independent directors

MobiKwik on Friday said it has appointed former Blackstone MD Punita Kumar Sinha, diplomat Navdeep Singh Suri, and two others as independent directors

True Balance aims for break-even by year-end, eyes listing by 2024

True Balance is an RBI-authorised digital platform which facilitates loans through its safe, RBI licensed NBFC - True Credits.

BharatPe's valuation crosses $2.85 bn in $370 mn in Series E equity round

The funding would help the firm compete and take on players such Pine Labs, Paytm and Mswipe

Jack Dorsey-run fintech platform Square to acquire Afterpay for $29 billion

Financial payments services firm Square, run by Twitter CEO Jack Dorsey, has announced to acquire Australian company Afterpay for $29 billion in an all-stock deal

New interoperable MF platform could queer the pitch for fintechs

Sebi's move has raised doubts over the role of players like Kuvera, Groww and Paytm Money. Currently, most users prefer these players for most activities that the new platform is designed to do

SBI, Axis Bank, ICICI Bank, others buy stakes in fintech firm IBBIC

Six banks State Bank of India, Axis Bank, Indian Bank, Yes Bank, IDBI Bank, and ICICI Bank on Tuesday said they have bought equity stakes in financial technology platform IBBIC.

IPOs of India's Paytm, South Korea's Kakao reveal Gen Z's banking vision

Internet-based businesses are raising funds at a record pace, making use of the boost given by the pandemic to all things digital

UK finance firm Tide raises $100mn in funding round led by Apax Digital

Company has a development centre in Hyderabad and plans a full launch in India next year

IDBI Intech eyes fintech firms for takeover as it expands in Europe, Asia

Firm currently has 20 fintechs in its fold; ties up with Lemon Advisors to expand overseas

Hybrid fintech firm Choice International FY21 net profit at Rs 167 mn

BSE-listed Choice International Limited, a fintech conglomerate, reported a net profit of Rs 167 million on a revenue of Rs 1,687 million for the financial year 2020-21

Paytm said to target $3-billion IPO, largest ever for India: Report

If successful, Paytm's initial share sale would surpass Coal India Ltd.'s offering, which raised more than Rs 15,000 crore in 2010 in the country's largest IPO so far

GST Council meet on Friday; pvt fintech firms set to enter e-invoicing zone

GST Council may green-light entry given disappointing progress

Fintech hub at GIFT City: IFSCA in talks with overseas regulators

IFSCA in talks with 10 foreign counterparts to help Indian fintech firms expand globally

Pine Labs secures $285 mn funding, unicorn firm's valuation tops $3 bn

Company offers merchants payment technology and working capital; it started as a retail solutions player in petroleum.

Paytm says recorded 1.4 billion transactions in March

The firm said it continues to register, on average, 15% month-on-month growth