Page 17 - Fintech Sector

Ashneer exhibited 'unruly, threatening behaviour' in AGM: BharatPe

BharatPe said its former co-founder and MD Ashneer Grover exhibited "unruly, intimidating and threatening behaviour" towards the authorised representatives and employees of the company

Suhail Sameer steps down as BharatPe's CEO, will be new Strategic Advisor

Sameer has been overseeing the company after it ousted Ashneer Grover for financial misappropriation

India's fintech industry to face a tough 2023 as investments cool: Bain

This year, the Indian regulator, spurred by fraud and malpractice instances in the fintech lending space, stepped up its oversight to regulate it through a series of guidelines

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

RBI advises fintechs to focus on governance, data protection issues

Das advised fintechs to pay close attention to governance, business conduct, data protection, customer centricity, regulatory compliance and risk mitigation frameworks

Fintech giant Plaid lays off 260 employees; offers 16 weeks of base pay

Fintech company Plaid is laying off 260 employees, or about 20 per cent of its workforce globally, amid the global macroeconomic conditions

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

It's time for evangelising fintech governance

New-age lenders reached out to new segments that were largely overlooked and unaddressed, even as more customers turned to them for their need for niche products and convenience

Global FinTech firm FIS issues pink slips to over 400 employees in India

Move comes a year after firm's plans to hire 10,000 people in the country; more likely to be axed in restructuring exercise; final settlement likely within five days from separation date

KreditBee raises $80 million in Series D from Premji Invest, others

The fintech firm aims to cross an AUM of over $1 billion in the next 6-9 months

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

Four senior execs quit BharatPe, to pursue 'entrepreneurial passions'

Among the top brass leaving today were Vijay Aggarwal, Rajat Jain, Geetanshu Singla, and Nehul Malhotra

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

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

Stock of this beaten down fintech company zoomed 20% today on heavy volumes

Shares of Fino Payments Bank were locked in 20 per cent upper circuit at Rs 230.70 in Wednesday's intra-day trade

EV start-up Chargeup raises $7 million in pre-series A1 funding round

The EV market in India is expected to grow aggressively from 2 million to 80 million vehicles by 2030 as per government estimates

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'

Walmart's PhonePe investing $200 mn to set up data centres in India

The Bengaluru-based firm is setting up data centres in India at a time when it has completed three steps to move its domicile to India

No break-up fee from Prosus after termination of deal with BillDesk

PayU's expansion plans which it had charted out based on the acquisition have been put on hold for over a year