Page 5 - Fintech Firms

PolicyBazaar hits fresh 52-week high; stock nearly doubles from 52-week low

The stock of fintech company was trading at its highest level since May 2022.

Tamil Nadu govt defends Fintech City contract, says process transparent

Company that won deal for project is not blacklisted, it says after criticism

EV financing platform Revfin raises $5 million in investment from DFC

The fintech plans to introduce new products by diversifying into two-wheelers for last-mile deliveries, four-wheelers for mid-mile cargo delivery, and ride-share taxis

A new fintech world is upon us amid funding drought, lower valuations

Fintech valuations have come crashing down and conditions are ripe for a spate of buyouts

BharatPe loses Rs 5,610 cr in FY22 after change in fair value of CCPS

Apart from the CCPS cost, the company's adjusted loss grew 2.2 times to Rs 828.2 crore in FY22, from Rs 227.3 crore in the earlier fiscal year

PhonePe raises $350 mn from General Atlantic; now bigger than Swiggy, Paytm

Joins decacorn club as most-valued fintech after topping $12-billion valuation in new funding

Fintech startups in India raise $5.65 bn in 2022, 47% drop from 2021

Fintech startups in India raised $5.65 billion in 390 rounds last year, a massive drop of 47% in terms of funding amount and 29% in the number of rounds when compared with 2021

Fintech player Zaggle files IPO papers with Sebi to mobilise funds

Fintech player Zaggle Prepaid Ocean Services Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering. The IPO (initial public offering) comprises fresh issue of equity shares worth Rs 490 crore and an offer for sale (OFS) component of 1.05 crore stocks by promoters, investors and other shareholders, according to the draft red herring prospectus (DRHP). Those offering shares in the OFS include promoters -- Raj P Narayanam and Avinash Ramesh Godkhindi and investors -- VenturEast Proactive Fund LLC, GKFF Ventures, VenturEast SEDCO Proactive Fund LLC, and Ventureast Trustee Company. Proceeds from the fresh issue would be utilised towards customer acquisition and retention, development of technology and products, payment of debt and for general corporate purposes. Founded in 2011, the company operates in the business-to-business-to-customer segment. It has created a market niche in the country by offering a combined soluti

Rajnish Kumar showed signs to make money out of BharatPe: Ashneer Grover

BharatPe Chairman Rajnish Kumar showed early signs of "wanting control" and to "make money out of BharatPe", the fintech platform's former Co-founder and managing director Ashneer Grover has claimed

Fintech firms Razorpay, Cashfree can't onboard new merchants for now

Razorpay said it was a temporary move and will not have any impact on its existing business operations and current merchants

Delhi HC summons Ashneer Grover, wife and kin over BharatPe's complaint

Fintech unicorn accuses them of fraud, claims Rs 88.67 crore

Fintech firm Enkash claims three-fold growth in valuation since March

Start-up that helps businesses manage their payments says it will not seek more funding this financial year

Fintech lenders align business model with RBI's digital lending norms

The RBI came out with the guidelines on digital lending in September and gave time until November 30 for players to comply with the 'existing loan' category

PhonePe set to acquire fintech start-up ZestMoney for about $300 mn

Deal expected to be closed in two-four weeks, says source

China set to fine Ant Group over $1 bn, signalling revamp nears end

A fine on Ant could help pave the way for the company to secure a long-awaited financial holding company license, seek growth again, and eventually revive its plans for a public market debut

Jio Financial Services could become fifth largest fin service entity: Study

Reliance firm can disrupt payments business and become a threat to other fintech models, say analysts

Paytm faces another reckoning with lock-in period expiring this week

The biggest shareholders in One97 Communications Ltd., Paytm's parent company, are Alibaba Group Holding Ltd. and its fintech affiliate Ant Group Co., as well as Japan's SoftBank Group Corp

How two RBI circulars could impact fundraising in fintech space going ahead

Fintechs have to read the regulator better even as the sector improves the quality of data on offer

8i Ventures announces first close of second investment fund worth $50 mn

Early-stage venture capital company says fintech 'single largest opportunity in India'

Hiring of permanent workers fell 61% in start-ups: RazorpayX Payroll report

Technology-related jobs have managed to marginally increase their contribution to the overall workforce by 4 per cent, while the hiring trend is slowing down in general