Page 2 - Fintech Startup

Fintech firm IRIS Business Services clocks Rs 4.29 cr profit in FY23

Fintech firm IRIS Business Services Ltd on Friday reported a consolidated net profit of Rs 4.29 crore in the financial year 2022-23. In the year-ago period, the company posted its consolidated net profit at Rs 1.01 crore. Its total income rose 21 per cent to Rs 74.90 crore in the 2022-23 fiscal from Rs 62.02 crore a year ago, according to a regulatory filing. Mumbai-based IRIS Business Services Ltd is operating in the RegTech (regulatory technology) space. The company offers a range of products that cater to the specific needs of organisations and regulators across different industries and geographic regions. It has been providing compliance, data, and analytics solutions to businesses in 50 countries. "All metrics point to an all-round improvement in performance," said its CFO K Balachandran. The improvement in the performance has been led by the "collect" division of the company through which the firm serves regulators, helping them collect pre-validated data from those they .

PhonePe goes live with UPI LITE to enable low-value transactions

Feature enables faster, seamless transactions for low-value amounts of Rs 200 or less

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

Tell your client to maintain decorum: HC tells Ashneer Grover's counsel

Delhi High Court was hearing a suit filed by BharatPe seeking, among other reliefs, orders to restrain Grover from making defamatory statements against the company

Legal tech start-ups have raised $57 mn in funding since 2013: Report

Indian sector has more than 650 firms and is valued at $1.3 bn to be second biggest in the world

Ashneer Grover saga: A timeline of how things went wrong at BharatPe

BharatPe has filed a case against Ashneer Grover's wife, Madhuri Jain, under Section 420 for a fraud of Rs 88 crore

Zomato, Paytm dole out ESOPs to top executives in H1FY23 despite losses

According to regulatory filings by Paytm and Zomato, key managerial personnel have been rewarded ESOPs worth crores during the first half of FY23

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

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

Founding Fuel launches a paywall on select stories facilitated by Fewcents

The users will be allowed to make payments for a select set of individual stories instead of purchasing a bundle

What does Nikhil Kamath think of venture funding in today's world?

Business Standard's Raghav Aggarwal caught up with Zerodha co-founder Nikhil Kamath, to talk about the future of fintech and funding in India. Let us listen in to the interview

Razorpay acquires PoshVine, forays into loyalty and rewards management

Since 2016, PoshVine has been offering its loyalty-as-a-service product to over 20 leading banks and networks

J&K Bank to increase exposure to corporate borrowers, PSUs: MD Prakash

In a Q&A, Baldev Prakash said the lender will also target Mumbai, Bengaluru, Delhi, Pune and Mohali through tie-ups, and hold campaigns for retail asset/liability products in order to improve its CASA

BharatPe hits $20 bn in annualised TPV, leaves Ashneer Grover saga behind

Fintech platform BharatPe said it has reached an all-time high of $20 billion in annualised total payments value, expanding its footprint to 400 towns and cities, as it leaves the Ashneer saga behind

Get a masterclass on the art of scale-up from start-up wizards

Tech world's prime-movers set up Artha School of Entrepreneurship.

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.

TI Clean Mobility to acquire 65% in IPL Tech Electric for Rs 246 cr

The deal would be done through a combination of primary and secondary purchases of shares

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

Our cost of funds is the lowest in the industry: Mintifi CEO Anup Agarwal

In a Q&A, Minitifi's co-founder and CEO Anup Agarwal talks about how it has enabled distributors and retailers to increase sales

Fintech startup Progcap raises $40 mn in funding round backed by Google

Google has invested in Indian startup Progcap that caters to small and medium-sized businesses, as it raised $40 million in its Series C funding round

Pine Labs acquiring fintech infrastructure start-up Setu for $70-75 mn

Pine Labs, backed by investors such as Sequoia Capital, PayPal, and Mastercard, competes with fintech companies such as BharatPe, Mswipe, Paytm, and Razorpay