At current valuations, the overhang risks from further selling by existing pre-IPO shareholders of Paytm are overdone, Citi says.
Travel expenditure grew by 165 percent during this festive period, whereas, OTT expenditure shot up by 80 percent, according to the PayU report.
Prosus announced the termination of the deal yesterday. The news came after the acquisition received a go-ahead from the Competition Commission of India on September 5.
Certain conditions precedent were not fulfilled by September 30, 2022 long stop date and the agreement has been terminated automatically in accordance with its terms, Prosus has said
The company plans to use the proceeds of the fundraise to grow its merchant base three times in the next two to three years
The agency is also conducting searches on Chinese companies facilitators in Mumbai, Delhi, Gurgaon, Lucknow and Kolkata, sources told CNBC TV-18.
Fintechs looking to capture market share from players restricted by new norms; see inflation as a tailwind for credit demand.
While the detailed order by CCI is awaited, the approval was long pending for India’s second largest internet deal after Walmart’s acquisition of Flipkart in 2018.
Start-up layoffs have offered employers a wider pool of talent to choose from. Hiring costs will stay elevated for maybe six months, after which they will correct, says Cherian of PayU.
The company has been in talks with its partner bank SBM Bank India for the move since RBI restricted the role of co-branding entities to only marketing and distribution of prepaid cards in April. The pivot to credit cards is likely to be fast-tracked now.
RBI’s notice to many fintechs on June 20 is pushing fast-growing fintechs to pull breaks and reconsider their core business offerings.
Vayana plans to use the funds to build products focused on helping MSMEs better manage their working capital and become credit ready.
After the 2020 lockdown led to office closures for almost two years, employees of most companies who worked from home are now being asked to return to the office. Companies are taking various steps to help their employees through the transition
The RBI had received applications from around six consortiums in March 2021 to set up a retail payments management, clearing and settlement entity to rival the NPCI.
With this offering, LazyPay joins the likes of Slice, Uni, Dhani which offer pay-later cards to customers, most of which have the option of dividing bills or purchases in three parts. But this product will differ from competitors in the repayment cycle.
Indian fintechs raised a record $9 billion in 2021, setting the tone for the funding and growth boom to continue in 2022. Experts believe continued collaboration between banks and fintechs will be crucial as neobanks and digital lending lead growth.
The startup aims to grow monthly disbursals from Rs 175 crore currently to Rs 1,500 crore in a years’ time and will be launching four new products in the next few months.
While Simpl is eyeing 10x growth in its user base, it finds itself mired in a lawsuit filed against the company by erstwhile co-founder Chaitra Chidanand. The company will also have to wait for RBI guidelines on digital lending for further regulatory clarity.
Banks, payment aggregators and card companies had until September 30 to cancel standing instructions for recurring payments.
PhonePe SafeCard will allow the company’s merchant partners to create, process, delete and modify tokens for online card payments and use tokenisation on their own platforms via APIs.
RBI has disallowed businesses, payment aggregators and acquiring banks from storing customers' credit/debit/prepaid card data.
Wealth management platform Fisdom is entering online stockbroking, dominated by the likes of Zerodha, Groww, Upstox and Angel Broking. It hopes to gain a million customers in a year, benefiting from the segment’s rapid growth.
CEO Anirban Mukherjee says PayU, having acquired BillDesk for $4.7 billion, will continue to follow a mix of organic and inorganic strategies in pursuit of growth
The acquisition brings Prosus' cumulative investment in Indian tech to over $10 billion.
With this round, Indiagold has raised a total of $14 million. Other investors include Leo Capital, Better Tomorrow Ventures, 3one4 Capital and Zerodha-backed Rainmatter Capital.