Page 5 - Fintech Firms

Savings, credit, jewellery major focus for Jar amid evolving finance needs

Amid growing financial uncertainty, Jar enables Indians to save in digital gold, offering small daily investments and options for jewellery conversion through its platform

Funding to Indian fintech rises 66%, number of rounds decline by 25%

On a quarter-on-quarter basis, funding to the fintech sector more than doubled from $293 million in Q2CY24

M2P Fintech raises Rs 850 crore in series D, valuation at Rs 6,550 crore

The capital raised in the latest funding round will be utilised to strengthen its operations in India and grow its international footprint, particularly in Africa, the company said

British fintech Revolut set to enter India in 2025, eyes premium market

Revolut Group Holdings is a global neobank and financial technology company. It has received in-principle approval from the RBI to issue prepaid cards and wallets

90% of financial institutions focus on AI, GenAI for innovation: PwC India

Ninety per cent of Indian financial institutions are focusing on artificial intelligence (AI) and GenAI (Generative Artificial Intelligence) as the primary technology enablers of innovation, according to a PwC India report. As per the PwC India report titled, 'Mapping the FinTech innovation landscape in India' data analytics also continues to emerge prominently across nearly 74 per cent responses, underscoring its integral role in driving insights and decision-making within the financial services (FS) sector. It said that 31 financial institutions consisting of banks, insurance firms and fintechs participated in the survey. "Artificial Intelligence (AI) and GenAI (Generative Artificial Intelligence) emerged as the focus area for innovation for Indian financial institutions, with 90 per cent of the respondents citing them as the primary technology enablers of innovation," it said. Further, 84 per cent of respondents stated that customer experience and engagement - acquisition, ...

Stashfin parent AKARA Capital lists first Rs 10,000 face value NCDs on BSE

This follows a July 2024 Sebi amendment lowering the minimum face value of debt securities from Rs 1,00,000 to Rs 10,000, expanding retail investment opportunities

Govt taking measures at policy level to help fintech sector: PM Modi

Prime Minister Narendra Modi on Friday said the government is taking various measures at the policy level to promote the fintech sector, which attracted over USD 31 billion investments in the last 10 years, and the abolition of the Angel Tax is also a step towards the growth of the segment. Addressing the Global Fintech Fest 2024 here, the Prime Minister also asked the regulators to take more measures to stop cyber frauds and further increase digital literacy among people. "Fintech has played a significant role in democratising financial services," he said, and expressed confidence that it will help in improving the quality of life for Indians. Modi emphasised that adoption of fintech by Indians is "unmatched in speed and scale" and no such example can be found anywhere else in the world. He said the transformation brought about by the fintech sector in India is not just limited to technology, but its social impact is far-reaching. He also stressed that fintech has dented the para

Fintechs can't bypass compliance irrespective of scale, says RBI ED

'Trying to level the playing field between traditional lenders & fintechs'

BharatPe launches secured loans for merchants, expands credit offerings

Merchants on the fintech platform can avail of two-wheeler loans up to Rs 2.5 lakh from OTO Capital, with a repayment period ranging between 12 and 48 months

Fintech co Navi collabs with Karnataka Bank to introduce credit line on UPI

At present, the Sachin Bansal-founded fintech company has introduced the offering to a closed group of select users. It plans to launch it to a wider user base based on feedback

Fintech solutions can positively impact income, savings: CEA Nageswaran

Says fintech industry should be aware of the challenges that fintechs may pose to society

Fintech firm Fibe raises $90 mn in funding round, looks to list in 3 years

Consumer loans company says it will use the financing to expand business

PhonePe launches secured lending platform with banks, fintech firms

Walmart-owned fintech firm says service will help 535 mn users on its platform

With PA approval, fintech firm Decentro launches new payment stack

The company has launched fintech products such as collections on Unified Payments Interface (UPI) and will introduce recurring payments in the next few weeks

Pine Labs gets approval from Singapore court to relocate base to India

Pine Labs' decision to shift domicile follows a broader trend among fintech firms like PhonePe and Groww, which have also moved their bases back to India

PB Fintech's Dahiya, Bansal divest Rs 1,109 crore worth of shares

They sold 8.37 million shares at Rs 1,325 apiece. Among the buyers were over two dozen funds, which included Morgan Stanley, Societe Generale, Axis Mutual Fund, and New World Fund

Angel One launches edutainment financial content platform Fin One

Content on Fin One will be available to users on social media platforms such as Instagram and YouTube

Infibeam Avenues Q4FY24 results: Net profit rises 26.2% to Rs 49.6 crore

In financial year 2024 (FY24), the company reported a net profit of Rs 158.1 crore, up 13 per cent from Rs 139.6 crore in the previous financial year (FY23)

PhonePe collaborates with LankaPay to promote UPI payments in Sri Lanka

Apart from the National Payments Corporation of India's (NPCI) UPI, these transactions will be facilitated by the LankaPay National Payment Network

Financial services startup Groww moves domicile to India from the US

Groww joins an increasing number of startups planning to move their domiciles to the country