Page 6 - Fintech Firms

Fintech firm Twid raises $12 mn to expand reward points-based service

Company has more than 40 million registered users and it works with 50,000 merchants

BharatPe founder Bhavik Koladiya quits, months after Ashneer Grover's exit

According to a media report, Koladiya's departure is due to a disagreement between him and BharatPe as well as the company's Chief Executive Officer Suhail Sameer.

Future of fintechs is in lending-led players, not payments: Report

With the funding to fintechs seeing a sharp 30 per cent drop in the June quarter, valuation is expected to shift from payments to lending-led fintechs, according to a report

Rural fintech firm Jai Kisan raises $50mn as debt, equity in funding round

Startup says it will use the financing to expand product suite and improve customer experience

Indian tech startups raise $6 billion in April-June quarter, Fintech rules

Number of deals dropped by 17% sequentially, more than half were larger than $100 million each

Loan disbursements for Paytm up nine-fold to over Rs 5,550 crore

The number of loans disbursed through our platform grew 492% y-o-y to 8.5 million loans in the quarter ending June 2022, while the value of loans disbursed grew 779% y-o-y to Rs 5,554 crore ($703 mn)

Lendingkart raises Rs 75 cr in debt fund from GMO LLC, Triodos Investment

The company will use the funds to originate MSME loans across all states with credit decisions in a live environment using in-house built origination engine 'xlr8' and 'zero touch' features.

Cryptocurrencies are a 'clear danger': RBI governor Shaktikanta Das

Indian fintech industry value projected to hit $150 bn by 2025

The RBI is no fan of 'buy now, pay later' and it's wholly understandable

Last week, the Reserve Bank of India brought out its regulatory axe and hacked away at a popular path to small-ticket fintech loans

FinMin asks banks to explore fintech partnership, co-lending opportunities

The Finance Ministry has asked public sector banks to explore fintech partnerships and co-lending opportunities to expand their business

RBI explores ways to ensure customer safety while dealing with PPIs

Earlier this week, RBI issued an advisory clarifying that non-bank PPI issuers cannot load their wallets and cards from credit lines or preset borrowing limits

Fintech firms seek six month-extension to comply with RBI credit line norms

RBI had barred the loading of prepaid payment instruments (PPIs) from credit lines

RBI's credit line norms: Card-based fintech players may have to stop offers

Some of the players expected to take a hit due to the RBI's diktat are Slice, Uni Cards, Jupiter, EarlySalary, etc

Top Headlines: COAI on captive pvt networks, fintechs see surge in loans

The IRDAI is considering a proposal to make insurance frauds a parameter for calculating credit scores in an attempt to put a lid on the increase in such activity

Small ticket, big business: Fintech firms see surge in instant loans

A recent report by CRIF High Mark has it that small-ticket personal loans contributed 50 per cent by volume in FY21

Third major exit at BharatPe as founding member Satyam Nathani quits

He was to play a key role in Unity SFB, which was acquired through a BharatPe-Centrum Financial JV; CRO Nishit Sharma, head of institutional debt partnerships Chandrima Dhar had resigned earlier

PolicyBazaar owner PB Fintech's shares slumps 11.5% as CEO divests holdings

Sheds 15% intraday before reversing some of the losses to end at Rs 582.8 on BSE

The corporate card market is ripe for change: Volopay's Rohit Bhageria

We have raised approximately $32 million in a mix of debt and equity, Bhageria said

Fintech for every merchant

Fintech firms have created an ecosystem of trust and supportiveness for merchants, by helping them with creative solutions and innovative products

Sachin Bansal's Navi Finserv's Rs 300-cr debt bond subscribed 1.4 times

The fintech firm's secured, rated, listed and redeemable non-convertible debentures (NCDs) have a total value of Rs 600 crore after including the greenshoe option of Rs 300 crore.