Large banks which process almost all the UPI transactions in the country are facing issues managing the scale at which UPI volumes are growing, say sources, this has caused transaction failures to jump over the last few months.
Launched in September 2018, Rupeeredee helps customers source their loans online. It leverages digital Know Your Customer (KYC) norms and deep integration with lending partners to assist borrowers.
Mamaearth's valuation set to triple in barely a year, as the pandemic has boosted digital-first brands
An Alvarez and Marsal report seen by Moneycontrol talks about collection efficiency being lower among MSMEs and personal loans, with salaried consumers paying back on time more than self-employed consumers.
Fintech lenders offered the ‘First Loan Default Guarantee’ cover of around 5% to banks and NBFCs to encourage them to take loans on their books. With more than 10% of borrowers not repaying their loans after the moratorium ended, the fintech lenders fear they will have massive commitments towards banks
This round values Razorpay at over $1 billion, making it the sixth Indian company to hit unicorn status this year – despite an overall subdued environment due to the COVID-19 pandemic
Cred was last valued at $450 million in August 2019 when it raised $120 million in Series A round.
Company founder Vijay Shekhar Sharma, along with a few large stakeholders of the startup world, wants to unshackle ‘digital India’ from the likes of Google. Our regulators should either get acquainted with technology businesses or hire lateral talent, says Gondia of Goqii.
As the country tries to limp back to some degree of normalcy, economic activity is showing slow signs of recovery. Digital payments across UPI, IMPS and FASTag are getting back to pre-COVID levels and gaining fast.
At a time when traditional lenders have slowed down on their lending plans, fintech lenders like BharatPe have kept their taps on.
Abhishek Sen comes with years of experience at large firms like Myntra, Aon, SAP Labs, Britannia and others.
Founded in 2015 by Vasanth Kamath, Rohan Gupta and Anugrah Shrivastava, "smallcases" are model portfolios of stocks and exchange-traded funds created and managed by registered individuals and entities and are accessible to retail investors.
The payments company is trying to be the one stop shop in terms of payments, billing, invoicing, inventory management for small businesses
Customers of Axis Bank and SBI Card can now use their cards to transact via Google Pay. Others are also in talks with Google Pay to roll out the service. We break down how it works, what it means for customers and how Google will benefit.
Company tells Moneycontrol it has been unit-level positive since its inception in 2018, having processed around 1.5 lakh loans from 30 locations across India.
Dozee offers a contactless health-monitoring service. The Dozee app will constantly track the heartbeat of the user and analyse any sort of unnatural behaviour. The company will use the fresh capital to partner with more hospitals, and to expand its consumer base.
The Bengaluru-based platform wants to strengthen its tech, product and engineering segments . Part of the money will be utilised to power an educational initiative about financial markets across India. This is YC Continuity’s first investment in India.
Domain experts and venture capitalists from the council will be the mentors and guides to help reach commercialisation goals, it added.
It is hard to monetise a business that caters to everyone, Kunal Shah says, adding Chinese are leagues ahead of Indians—per capita income of urban China is far higher. While 90% of the urban Chinese women work, in India, the number is just 10%.
Rupeek now disburses Rs 250 crore a month from Rs 20 crore a year and a half ago. CEO Sumit Maniyar now has a target of Rs 1,000 crore a month in less than a year. The Bengaluru-based firm, worth $300 million, is present in 20 cities.
Zomato Fundraising: MacRitchie Investments is an indirectly owned subsidiary of Singapore- based Temasek Holdings.
Banks now appear to be cashing in on the digital payments wave
Indian fintechs raised $1.3 billion through 91 deals in the first half of 2020 against $831 million through 73 deals in the same period last year.
Shah says while the company may close more deals in India that is not the key metric. Good exits are what drive Norwest Venture Partners' performance.
The study revealed that 73 percent respondents were willing to share health record data with insurance companies for recommendations on addressing potential medical issues, while 72 percent were willing to share data with government agencies to expedite access to services such as driver’s licence and government benefits.