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  • Ashneer Grover deletes social media posts against BharatPe, says he wants to 'get out of the gutter' May 26, 2023 11:55 AM IST

    Ashneer Grover deletes social media posts against BharatPe, says he wants to 'get out of the gutter'

    This comes after the Delhi High Court on May 16 had remarked that if Grover and BharatPe had both decided to enter the gutter, they should remain there, referring to the disrespectful language used by the parties towards each other.

  • India will be a big investment theme for $925 mn fund: QED Investors’ Asia Head May 25, 2023 01:16 PM IST

    India will be a big investment theme for $925 mn fund: QED Investors’ Asia Head

    Global fintech VC firm QED Investors, which backs Jupiter and OneCard, said that it is betting big on the India consumer story for the long term. India, according to Sandeep Patil, is a growth hotspot, given the headline GDP growth rate, and it’s the fastest-growing large economy in the world.

  • Digital public infra will lead to elongated financial cycle and economic growth over a decade: CEA V Anantha Nageswaran May 24, 2023 03:20 PM IST

    Digital public infra will lead to elongated financial cycle and economic growth over a decade: CEA V Anantha Nageswaran

    Account Aggregator is a door opener for financial inclusion, but misuse of data and predatory practices need to be guarded against, Nageswaran said.

  • A tale of two fintech companies May 30, 2023 11:46 AM IST

    A tale of two fintech companies

    PB Fintech has done a much better job of turning the corner on profitability, in part because of its business model. Zomato, on the other hand, stuck in a line of business seeing increasing competition, is still bleeding

  • PhonePe bags another $100 million from General Atlantic in ongoing $1 billion round May 22, 2023 12:15 PM IST

    PhonePe bags another $100 million from General Atlantic in ongoing $1 billion round

    In January, PhonePe announced raising $1 billion in tranches at a valuation of $12 billion. Since then, the fintech unicorn has raised $550 million from General Atlantic, $100 million from Tiger Global Management, Ribbit Capital and TVS Capital, and $200 million from its largest shareholder--Walmart.

  • Indian fintechs seek a share of booming loan market through NBFC route May 17, 2023 08:20 PM IST

    Indian fintechs seek a share of booming loan market through NBFC route

    After the central bank tightened its digital lending guidelines in September, fintech companies have started to acquire small NBFCs or seek NBFC licences.

  • KreditBee eyes offline expansion to reduce loan disbursement timelines May 17, 2023 11:34 AM IST

    KreditBee eyes offline expansion to reduce loan disbursement timelines

    The offline stores are expected to come up in various towns and cities in Karnataka by the end of FY24. KreditBee will also hire industry leaders with expertise in offline lending to lead this business vertical.

  • Accel-backed neobanking startup Niyo shifts gear, will become a travel tech platform May 15, 2023 10:48 AM IST

    Accel-backed neobanking startup Niyo shifts gear, will become a travel tech platform

    Niyo’s travel tech platform will essentially cover the entire spectrum around travel, where users can apply for visas and book travel experiences, concierge services, tour packages, travel insurance, and the like.

  • Pine Labs and PharmEasy parent hit with valuation markdown by Neuberger Berman May 12, 2023 11:19 AM IST

    Pine Labs and PharmEasy parent hit with valuation markdown by Neuberger Berman

    US-based Neuberger Berman has reduced the fair values of API Holdings and Pine Labs by 21.6 percent and 39 percent, respectively, to $4.39 billion and $3.14 billion, the investor's filings with the Securities and Exchange Commission showed.

  • Razorpay to move parent entity to India from US ahead of IPO plans May 09, 2023 09:41 AM IST

    Razorpay to move parent entity to India from US ahead of IPO plans

    While a reverse flip to India is a costly affair, Razorpay will be able to manage the same with its available funding, Sources told Moneycontrol. PhonePe's which recently domiciled to India from Singapore said that its investors had to cough up almost Rs 8,000 crore in taxes.

  • Razorpay's parent company to move back to India: Report May 09, 2023 07:55 AM IST

    Razorpay's parent company to move back to India: Report

    As a Silicon Valley incubator-backed startup, Razorpay had to domicile itself in the US in order to raise funds from Y Combinator. Payment services are offered by Razorpay to merchants.

  • Aurionpro Payments gets in-principle nod from RBI to operate as payment aggregator May 05, 2023 03:17 PM IST

    Aurionpro Payments gets in-principle nod from RBI to operate as payment aggregator

    AuroPay will be able to commence its payment aggregator business upon receiving the final Certificate of Authorization from RBI

  • Chiratae-backed alternative financing fintech Getvantage gets NBFC licence May 04, 2023 10:43 AM IST

    Chiratae-backed alternative financing fintech Getvantage gets NBFC licence

    Getvantage, which claims to be the first and only revenue-based financing and alternative funding platform in India to get an NBFC licence, says it will run lending operations through GetGrowth Capital, its shadow bank arm

  • Indian startups save $200 million in tech costs, $800 million in ad spends in fiscal 2023 May 03, 2023 07:47 AM IST

    Indian startups save $200 million in tech costs, $800 million in ad spends in fiscal 2023

    Meesho and Dealshare have slashed cloud costs by as much as 50 percent, according to UnearthInsight’s data

  • Large corporates will never be allowed to open a bank in India says veteran banker Narayanan Vaghul May 01, 2023 01:55 PM IST

    Large corporates will never be allowed to open a bank in India says veteran banker Narayanan Vaghul

    Speaking to reporters, Vaghul suggested that the capital needed for economic growth will come from the public, which is keen to invest in a lender which is run professionally.

  • India, Russia to explore possibility of the use of RuPay and Mir cards May 01, 2023 07:48 AM IST

    India, Russia to explore possibility of the use of RuPay and Mir cards

    India and Russia will explore the possibility of accepting RuPay and Mir cards in each other's country for hassle-free payments amid ..

  • Google took enforcement action on 3,500 personal loan apps in India in 2022 April 27, 2023 11:12 PM IST

    Google took enforcement action on 3,500 personal loan apps in India in 2022

    In August, Google had stated that it had blocked 2,000 personal loan providers from its app marketplace in India from January 2022 to July 2022.

  • Sequoia-backed fintech Razorpay to integrate with ONDC April 27, 2023 02:21 PM IST

    Sequoia-backed fintech Razorpay to integrate with ONDC

    Razorpay is the second large fintech startup that has joined the ONDC this month, after Walmart-owned PhonePe went live on the open network in April. Noida-based Paytm was among the first few companies that went live on the ONDC.

  • Sequoia and Tiger Global-backed Jupiter secures NBFC licence April 26, 2023 10:34 AM IST

    Sequoia and Tiger Global-backed Jupiter secures NBFC licence

    Jupiter's founder Jitendra Gupta said the startup will be infusing an equity of Rs 100 crore for developing the NBFC business and is looking to raise another Rs 100 crore of loan from banks

  • Redefine microfinance intermediaries' role to survive competition from fintech April 24, 2023 01:53 PM IST

    Redefine microfinance intermediaries' role to survive competition from fintech

    Their high-touch model may be useful in increasing the penetration of complex financial products like insurance, pension and mutual funds that apps cannot do

  • Top bankers never retire! Fintechs rope in veteran bankers to build brand, trust April 22, 2023 07:37 AM IST

    Top bankers never retire! Fintechs rope in veteran bankers to build brand, trust

    Some experts also suggested that when fintech companies hire a veteran banker, a certain goodwill also comes along.

  • Tiger Global-backed Open axes 47 jobs, founders take 50% pay cut April 20, 2023 04:26 PM IST

    Tiger Global-backed Open axes 47 jobs, founders take 50% pay cut

    As a part of scale-up and profitability, Open said in the statement that it will continue the efforts to make a highly performance-oriented effective organization fit for scale, the statement said.

  • ClearTax betting big on crypto tax offerings, expects profitability in next 12 months April 20, 2023 01:27 PM IST

    ClearTax betting big on crypto tax offerings, expects profitability in next 12 months

    Last year, Clear began offering solutions for customers to manage their cryptocurrency portfolio and taxes after the government announced a hefty 30% tax rate and 1% TDS for gains and transfers of virtual digital assets.

  • Digital Lenders Association of India appoints Jatinder Handoo as CEO April 19, 2023 03:22 PM IST

    Digital Lenders Association of India appoints Jatinder Handoo as CEO

    DLAI, which presently has around 90 digital lending firms as its members, has also Inducted Alok Prasad and Meena Hemchandra as Governance Council members.

  • Fintech platform Tide aims to on-board 10 lakh SMEs by December 2024 April 19, 2023 02:14 PM IST

    Fintech platform Tide aims to on-board 10 lakh SMEs by December 2024

    Tide, the UK's leading SME-focused business financial platform, has onboarded 50,000 SMEs since its entry in India in December 2022, a company statement said.