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Fintech Firms

BharatPe loses Rs 5,610 cr in FY22 after change in fair value of CCPS

Apart from the CCPS cost, the company's adjusted loss grew 2.2 times to Rs 828.2 crore in FY22, from Rs 227.3 crore in the earlier fiscal year

BharatPe loses Rs 5,610 cr in FY22 after change in fair value of CCPS
Updated On : 27 Jan 2023 | 10:40 AM IST

PhonePe raises $350 mn from General Atlantic; now bigger than Swiggy, Paytm

Joins decacorn club as most-valued fintech after topping $12-billion valuation in new funding

PhonePe raises $350 mn from General Atlantic; now bigger than Swiggy, Paytm
Updated On : 19 Jan 2023 | 10:17 PM IST

Fintech startups in India raise $5.65 bn in 2022, 47% drop from 2021

Fintech startups in India raised $5.65 billion in 390 rounds last year, a massive drop of 47% in terms of funding amount and 29% in the number of rounds when compared with 2021

Fintech startups in India raise $5.65 bn in 2022, 47% drop from 2021
Updated On : 19 Jan 2023 | 2:12 PM IST

Fintech player Zaggle files IPO papers with Sebi to mobilise funds

Fintech player Zaggle Prepaid Ocean Services Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering. The IPO (initial public offering) comprises fresh issue of equity shares worth Rs 490 crore and an offer for sale (OFS) component of 1.05 crore stocks by promoters, investors and other shareholders, according to the draft red herring prospectus (DRHP). Those offering shares in the OFS include promoters -- Raj P Narayanam and Avinash Ramesh Godkhindi and investors -- VenturEast Proactive Fund LLC, GKFF Ventures, VenturEast SEDCO Proactive Fund LLC, and Ventureast Trustee Company. Proceeds from the fresh issue would be utilised towards customer acquisition and retention, development of technology and products, payment of debt and for general corporate purposes. Founded in 2011, the company operates in the business-to-business-to-customer segment. It has created a market niche in the country by offering a combined soluti

Fintech player Zaggle files IPO papers with Sebi to mobilise funds
Updated On : 20 Dec 2022 | 11:30 PM IST

Rajnish Kumar showed signs to make money out of BharatPe: Ashneer Grover

BharatPe Chairman Rajnish Kumar showed early signs of "wanting control" and to "make money out of BharatPe", the fintech platform's former Co-founder and managing director Ashneer Grover has claimed

Rajnish Kumar showed signs to make money out of BharatPe: Ashneer Grover
Updated On : 18 Dec 2022 | 12:41 PM IST

Fintech firms Razorpay, Cashfree can't onboard new merchants for now

Razorpay said it was a temporary move and will not have any impact on its existing business operations and current merchants

Fintech firms Razorpay, Cashfree can't onboard new merchants for now
Updated On : 16 Dec 2022 | 11:25 PM IST

Delhi HC summons Ashneer Grover, wife and kin over BharatPe's complaint

Fintech unicorn accuses them of fraud, claims Rs 88.67 crore

Delhi HC summons Ashneer Grover, wife and kin over BharatPe's complaint
Updated On : 09 Dec 2022 | 12:13 AM IST

Fintech firm Enkash claims three-fold growth in valuation since March

Start-up that helps businesses manage their payments says it will not seek more funding this financial year

Fintech firm Enkash claims three-fold growth in valuation since March
Updated On : 07 Dec 2022 | 5:40 PM IST

Fintech lenders align business model with RBI's digital lending norms

The RBI came out with the guidelines on digital lending in September and gave time until November 30 for players to comply with the 'existing loan' category

Fintech lenders align business model with RBI's digital lending norms
Updated On : 30 Nov 2022 | 9:09 PM IST

PhonePe set to acquire fintech start-up ZestMoney for about $300 mn

Deal expected to be closed in two-four weeks, says source

PhonePe set to acquire fintech start-up ZestMoney for about $300 mn
Updated On : 25 Nov 2022 | 7:29 PM IST

China set to fine Ant Group over $1 bn, signalling revamp nears end

A fine on Ant could help pave the way for the company to secure a long-awaited financial holding company license, seek growth again, and eventually revive its plans for a public market debut

China set to fine Ant Group over $1 bn, signalling revamp nears end
Updated On : 23 Nov 2022 | 12:26 AM IST

Jio Financial Services could become fifth largest fin service entity: Study

Reliance firm can disrupt payments business and become a threat to other fintech models, say analysts

Jio Financial Services could become fifth largest fin service entity: Study
Updated On : 22 Nov 2022 | 3:44 PM IST

Paytm faces another reckoning with lock-in period expiring this week

The biggest shareholders in One97 Communications Ltd., Paytm's parent company, are Alibaba Group Holding Ltd. and its fintech affiliate Ant Group Co., as well as Japan's SoftBank Group Corp

Paytm faces another reckoning with lock-in period expiring this week
Updated On : 15 Nov 2022 | 10:29 PM IST

How two RBI circulars could impact fundraising in fintech space going ahead

Fintechs have to read the regulator better even as the sector improves the quality of data on offer

How two RBI circulars could impact fundraising in fintech space going ahead
Updated On : 06 Nov 2022 | 6:25 PM IST

8i Ventures announces first close of second investment fund worth $50 mn

Early-stage venture capital company says fintech 'single largest opportunity in India'

8i Ventures announces first close of second investment fund worth $50 mn
Updated On : 03 Nov 2022 | 1:53 PM IST

Hiring of permanent workers fell 61% in start-ups: RazorpayX Payroll report

Technology-related jobs have managed to marginally increase their contribution to the overall workforce by 4 per cent, while the hiring trend is slowing down in general

Hiring of permanent workers fell 61% in start-ups: RazorpayX Payroll report
Updated On : 31 Oct 2022 | 9:37 PM IST

Walmart's PhonePe investing $200 mn to set up data centres in India

The Bengaluru-based firm is setting up data centres in India at a time when it has completed three steps to move its domicile to India

Walmart's PhonePe investing $200 mn to set up data centres in India
Updated On : 20 Oct 2022 | 7:56 PM IST

Gone with the loan: Indian travelphiles bank big on 'travel now, pay later'

Maldivian blues or Rajasthan's sand dunes? Keen on both, Rakesh Mandavaya had a budget for none. That's when he learnt of the travel now pay later' option offered by banks and fintech companies. And the rest, as they say, is his Maldives travel history he can't stop gushing about. The 37-year-old, who managed a memorable holiday and that too a foreign one, said his six-month interest free loan for Rs 1.5 lakh was approved in just a day. "Since my trip was an impromptu one, I didn't have enough time to plan it or money to fund it. Then a friend told me about travel loans. The process was super easy," the Delhi-based IT professional told PTI. "I think the demand for such a loan category was always there. It is useful for everyone, especially salaried employees. It will encourage people to see new places and make holiday memories," he added. The TNPL acronym for the travel now pay later' trend has caught on, a variation of the buy now pay later' (BNPL) segment where customers buy ...

Gone with the loan: Indian travelphiles bank big on 'travel now, pay later'
Updated On : 02 Oct 2022 | 6:51 PM IST

Paytm Mall becomes first to go live on ONDC in Bengaluru beta test

People can place orders in grocery and restaurant segments for now

Paytm Mall becomes first to go live on ONDC in Bengaluru beta test
Updated On : 30 Sep 2022 | 4:52 PM IST

Red signals for fintech industry: The valuations game of the past is over

RBI Governor Shaktikanta Das' traffic light imagery for the fintech industry has several implications

Red signals for fintech industry: The valuations game of the past is over
Updated On : 27 Sep 2022 | 5:05 PM IST