BUSINESS
FinAGG Technologies raises $11 million in Series A funding round
The fintech, which provides working capital loans to MSMEs, secured additional capital from Gray Matter Capital through Non-Convertible Debentures (NCDs).
BUSINESS
Mswipe hits pause on lending to stabilise growth
The Mumbai-based payments service provider gave loans via NBFC arm MCapital. It now plans to operate as a digital service provider and not lend from its own book, co-founder Ketan Patel has said
BUSINESS
Revolut’s India grand plans still on shelf three years on
Europe’s largest neobank, which entered India in 2021 with plans to launch a financial super app, is now looking to offer a travel card in April.
TECHNOLOGY
DMI Finance likely to close acquisition of BNPL firm ZestMoney in next two weeks
According to sources, the officials of DMI Finance held a meeting with the employees including the ones that received the pink slips from ZestMoney regarding the fire sale and said that most of them will retain their jobs in the startup
TECHNOLOGY
Swiggy Instamart vice president Sidharth Satpathy steps down
Satpathy, who worked with the foodtech delivery giant for over 4 years, will be replaced by Amazon India’s performance marketing head Anirban Roy.
BUSINESS
MobiKwik DRHP: Tight regulations, sustained profitability, expanding financial services among factors to watch out for
The company recently slashed its issue size to Rs 700 crore from Rs 1,900 crore and refiled the draft papers with SEBI.
BUSINESS
Mobikwik IPO | Financials, comparison with peers, listing details in 5 charts
For every Rs 1 spent on marketing, MobiKwik realised a revenue of Rs 6.64 as of FY23. Other players like Fino payments bank, Groww, Phonepe and Paytm are ahead in this metric.
BUSINESS
Mobikwik’s D-street attempt 2.0 has most analysts bullish
Those skeptical argue that more than the business outlook, it’s the current market momentum the company is trying to tap. The 14-year-old digital payments and financial solutions firm claims to have reported profit after tax in the first two quarters of FY24.
TECHNOLOGY
Indian fintechs record 63% decline in funding, see single unicorn in one year
Late-stage rounds in 2023 were down by 56% at $1.4 billion while early stage and seed-stage rounds dropped by 73% and 69%, respectively
