Page 2 - Fintech Companies

TMSEp265: Fintechs, Q&A with Roche family, capital goods stocks, SOVA virus

Why are regulators uneasy about fintechs' dominance? Can Roche stay ahead of the competition in the next 125 yrs? Is a re-rating on the cards for capital goods stocks? What is SOVA virus? Answers here

Fintech firm udaanCapital says it enabled Rs 2,200 cr credit to retailers

Company says 'working capital availability in the country is huge as small businesses adopt digital payments

Top Headlines: Byju's focus on profit; YES Bank sells stressed loans

After reporting a loss of Rs 4,588 crore in 2021 fiscal, Byju Raveendran, the founder and CEO of the world's most valuable edtech firm Byju's, has told employees

Sitharaman nudges fintech players to have more engagement with govt

Finance Minister Nirmala Sitharaman on Tuesday nudged the fintech industry to break the distance barrier and have more engagements with the government and its agencies to enhance trust. Sitharaman was replying to a question by Kris Gopalakrishnan, Chairman, Global Fintech Fest (GFF) 2022 Advisory Board, who wanted to know how to ensure trust among industry, regulators, and the government. "I don't want to sound cliche, but distance brings distrust. So, cut the distance down, have greater engagement with the government," the minister said. Sitharaman further said everyone in the government, whether the prime minister, ministers or think-tank Niti Aayog, is constantly available for engagement, discussions, and exchange of ideas. "So greater the engagement, greater the trust, which gets built up. So I think one sure shot way of retaining and building on trust is to keep the constant engagement going," she said. To a question related to the role of the central bank and the finance ...

Former RBI deputy governor Kanungo, Kaushik Dutta join BharatPe board

Fintech unicorn BharatPe has appointed former RBI deputy governor B P Kanungo and TARI founder Kaushik Dutta as independent directors as it looks to strengthen governance rigour and transparency in the preparation of a listing. "Business is about to turn profitable in a few months and we are strengthening governance at the company by appointing independent directors," BharatPe CEO Suhail Sameer told PTI. The firm, which currently has nine directors on its board, is looking to have at least one-third of directors as independent directors, he said. Besides Sameer, co-founder Shashvat Nakrani is on the board as executive director. Investors have four nominees. The board is chaired by former SBI chairman Rajnish Kumar. BharatPe, he said, would look to go public in the next 2-3 years' time. "Post-2024 (general) elections should be a good period," he said. While Kanungo recently retired as Deputy Governor of the Reserve Bank of India, Dutta currently is the chairman and independent dire

Ours is more than a business correspondent model: Spice Money's Dilip Modi

We are building a network of digital entrepreneurs with our Spice Money Adhikari ecosystem in rural India in an economically viable manner.

Big tech under Parliamentary panel lens for alleged anti-competition play

Top execs of Indian arms of Apple, Google, Amazon, Netflix and Microsoft quizzed about impact of their business models on small players.

At $29 bn, Indian fintech sector now has 14% global funding share: Report

India's CAGR in the fintech sector grew by 20 per cent, which was higher than that of the US, the UK, and China which witnessed a growth of 16 per cent, 15 per cent, and 10 per cent, respectively

Paytm loan distribution touches annual run rate of around Rs 25,000 cr

The number of loans disbursed through Paytm platform jumped close to four-times to 29.46 lakh in July 2022, while the value of loans disbursed soared to Rs 2,090 crore on year-on-year basis.

Indian fintech to have $1 tn in AUM, $200 bn revenue by 2030: Report

Fintech-facilitated lending will grow by $476 billion to reach $514.6 billion in book size by 2030

Paytm Q1 net loss widens to Rs 644 cr; revenue up 89% to Rs 1,680 cr

Its contribution profit, which excludes taxes and marketing expenses but includes promotional incentives, grew over three-fold to Rs 726 cr in June 2022 quarter from Rs 245 cr in year ago period

Meme stock traders have a new favorite: Hong Kong's AMTD Digital

The company's market capitalization surged above $450 billion in a 244% jump on Tuesday, reminding investors of the meme stock mania last year that drove record rallies in shares of companies

Fintech firm Twid raises $12 mn to expand reward points-based service

Company has more than 40 million registered users and it works with 50,000 merchants

Axis Bank to acquire over 5% stake in CredAble for Rs 55 crore by September

The bank will acquire 8,921 equity shares, equivalent to 5.09 per cent, of face value of Rs 10 each for Rs 55 crore in CredAble.

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.

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

Fintechs funded by Chinese money generated Rs 950-crore slush funds: ED

Fintech companies brought the funds to be lent to the public, did MoU (memorandum of understanding) with "defunct" NBFCs for their lending licence, it said

Startups should think of credit solution for small businesses: Vaishnaw

Vaishnaw urged consumer tech companies to leverage Open Network for Digital Commerce (ONDC), India's alternative in its e-commerce market

We ensure that crypto transactions are in the KYC framework: CoinSwitch CEO

Crypto will pave the way for Web 3.0, a new internet that is open and shared, says CoinSwitch CEO Ashish Singhal

Facilitated Rs 3,600 cr loans in Q1FY23, up 112% QoQ, says BharatPe

Helped disbursals to over 120,000 merchants in Q1FY23, up from 66,000 merchants in Q4FY22