Page 4 - Fintech Companies

Britain plans to unveil new visa scheme for financial technology workers

London tops European rankings for such companies, according to an index compiled by real estate broker Savills

ICICI Bank to buy stakes in two fintech companies for Rs 6.03 crore

ICICI Bank on Tuesday said it will buy stakes in two fintech companies -- CityCash and Thillais Analytical Solutions -- for a total cash consideration of Rs 6.03 crore.

Sebi revises objective, eligibility criteria of innovation sandbox

In order to encourage innovation and boost participation, markets regulator Sebi on Tuesday revised the objective and eligibility criteria of its innovation sandbox with graded entry norms. In addition, a steering committee comprising representatives from the enabling organisations has been formed to drive the innovation sandbox, the Securities and Exchange Board of India (Sebi) said in a circular. The committee would supervise the operations of the innovation sandbox. Also, it would process the applications submitted by sandbox applicants and approve or reject applications and assign lead enabling organisations. Such lead enabling organisations would be responsible for onboarding the applicant post approval of the application and monitoring the applicant throughout the lifecycle of the sandboxing, the regulator noted. Innovation sandbox facilitates access to an environment (testing facilities and test data) provided by enabling organisations like stock exchanges, depositories and

NBFCs, fintech companies urge FM Sitharaman to enhance lending facilities

NBFCs and fintech players have urged Sitharaman to enhance the lending facilities by three to four years

BharatPe raises Rs 139 crore in debt from Alteria Capital, ICICI Bank

BharatPe said it has raised Rs 139 crore in debt from venture debt firm Alteria Capital and ICICI Bank that will be used to strengthen its lending business and provide credit to merchants

Sequoia-backed Drip Capital finances over $1 bn cross-border trade

As economies have opened up, Drip has witnessed over 50% quarter on quarter growth in the last three quarters

PayPal becomes first foreign firm in China with full ownership of payments

PayPal has become the first foreign operator with 100% control of a payment platform in China, according to Chinese government data

PNB joins hands with IIT Kanpur to set up Fintech Innovation Centre

Punjab National Bank on Thursday announced an alliance with IIT Kanpur and the Foundation for Innovation & Research in Science & Technology (FIRST) for establishing an innovation centre at the institute's campus. Under this partnership, PNB and IIT Kanpur will set up a 'Fintech Innovation Centre (FIC)' as a vehicle to research and develop technological solutions to address challenges and explore opportunities in the BFSI space, the bank said in a statement. PNB intends to create new products or solutions with technological innovations by creating a FIC involving IITK's experienced faculty members with the help of FIRST, it said. The collaboration of technical prowess from IIT Kanpur and financial expertise of PNB make it an apt "Fin-Tech" partnership that will help build innovations and entrepreneurial excellence, it said, adding, the FIC will be supported by a holistic ecosystem of financial institutions, academia, VC funds, technology companies and key government ...

BharatPe to raise over Rs 5,000 crore in debt funding in next 2 years

Financial Technology firm BharatPe on Wednesday said it plans to raise over Rs 5,000 crore in debt funding in next 2 years to build its lending business

Pine Labs' valuation tops $2 bn on closing funding from Lone Pine Capital

Funding makes it country's most valued fintech after Paytm and PhonePe. Pine Labs silent on deal size, industry sources put it at $75-100 million

Coronavirus pandemic dents growth of personal loans segment in FY21

While stress at an overall level is low, delinquencies in small ticket segment have moved up

US company PayPal partners with Razorpay to help small businesses go global

The partnership will make international payments seamless and safer, reducing wait time from days down to minutes

Unicorn tag just a pit stop, hungry for many more laps: Razorpay co-founder

By end of FY21, the firm expects two new streams to contribute to 35% of its overall revenue, with a 100% increase in its count of partner businesses

Need to enable payment solutions for feature phone users: RBI official

Covid-19 pandemic has inadvertently provided enormous impetus to digital payment adoption

Portfolio outstanding of fintech companies grew 92% in 2019: Report

Personal loan disbursements by NBFC-fintech companies grew by 110 per cent in 2019 compared to industry average growth of 22 per cent, it said

A potential blockbuster

Fintechs may have the lead with open banking but banks too can benefit by playing their cards well

PayU picks up minority stake in Fisdom, leads Rs 78-crore financing round

With this investment, PayU is one step closer to offering payments, lending, and wealthtech services in a single stack

Statspeak: Four reasons why FinTech adoption remains on the rise

FinTech challengers are looking less like start-ups and more like professionally managed companies

NiYO raises the fintech pitch by launching SME banking, global forex card

The neo-banking start-up recently raised $35 million in Series B funding led by Horizons Ventures, Tencent and JS Capital LLC

Digital lending platform Kissht raises $30 mn in Series C financing round

Kissht provides purchase financing and personal loans to its customers through a financial technology platform