Page 2 - Fintech

Macquarie double upgrades Paytm to 'outperform', ups target price by 80%

This comes after the firm narrowed its net loss to Rs 392 cr in Q3 of FY23, from Rs 778.4 cr in Q3FY22, and expanded revenue from operations by 41.62% to Rs 2,062.2 cr

RazorpayX launches forex service for founders, to empower 1,000 startups

With an annualised run rate of Rs 350 crore under this forex service to date, the company expects it to scale up by 3-4 times in the next financial year

Explained: Are fintech companies unmindful of Mint Road's message?

Fintechs' attitude towards governance has major implications

India's startup funding in 2022 double the pre-pandemic level: PwC

21 startups entered the unicorn club in 2022, highest from SaaS category

Tell your client to maintain decorum: HC tells Ashneer Grover's counsel

Delhi High Court was hearing a suit filed by BharatPe seeking, among other reliefs, orders to restrain Grover from making defamatory statements against the company

Fintech startup SarvaGram Solutions raises $35 mn in funding round

Fintech startup SarvaGram Solutions has raised USD 35 million (about Rs 290 crore) in a funding round from a clutch of investors including Elevar Equity, Elevation Capital, Temasek and TVS Capital Funds. SarvaGram provides a range of customised financial and capacity-enhancing products to unlock the potential of aspirational rural India. It closed its Series B round at USD 10 million in February 2021, which was led by Elevation Capital and Elevar Equity. The company announced "close of its Series C round at USD 35 million. Investors in this round include Elevar Equity, Elevation Capital, Temasek and TVS Capital Funds, with Elevar Equity being the largest investor in the company." With this funding round, SarvaGram plans to expand its distribution network by adding 75 outlets (to reach 125) by the end of financial year FY2024. "It also plans to expand its on-ground franchisees -known as 'SarvaMitra' - to 3X of the current strength across different states in India. The funds would a

What can India's consumer fintech look forward to in 2023?

An SBI report recently said that the use of UPI has jumped 70 times in the past four years. So, should there be charges on UPI fund transfers? And, did the fintech industry come of age in 2022?

Fintech firm PayU lays off 150 employees, says it's realigning teams

6% of total workforce of Prosus-backed firm reportedly asked to go

Money View raises $75 mn in Series E by Apis Partners, valued at $900 mn

Founded in 2014, Money View provides personalised credit products and personal financial management solutions

Rising cyberthreats a real concern, say fintech players at BFSI summit

The growing cyberattacks across the finance world as well as business in general is making senior executives more aware of the need for security

All entities providing banking service subject to same rules: RBI Dy Guv

Non-bank entities cannot be allowed to undermine the banking system, he says at Business Standard BFSI Insight Summit

Rs 1,500-cr Kfin Technologies IPO opens for subscription: Should you bet?

With complete offer for sale (OFS), shares of this financial services platform are priced in the range of Rs 347-366 apiece

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

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

NeoGrowth raises Rs 300 cr from Dutch lender FMO, existing investors

Small businesses-focused fintech player NeoGrowth has raised Rs 300 crore from Dutch entrepreneurial development bank FMO along with existing investors. Of the fresh equity capital, Rs 160 crore has been pumped in by the Dutch lender, NeoGrowth said in a statement on Thursday. The money will be used for on-lending and entering new markets, it added. NeoGrowth is also backed by Omidyar Network, Lightrock, Khosla Impact, Accion Frontier Inclusion FundQuona Capital, IIFL Seed Ventures Fund, WestBridge, and Leapfrog Investments. It has Rs 1,600 crore of assets under management and is connected with over 1.5 lakh MSMEs. So far, it has disbursed over USD 1 billion in loans, said MD & CEO Arun Nayyar. Peter Maila, co-chief investment officer at FMO, said NeoGrowth has been a debt client of FMO since 2017 and this is the first equity investment by FMO into the company. The equity allocation was not disclosed by the companies. NeoGrowth offers loans to first-time entrepreneurs, women ...

Paytm's share buyback plan draws skepticism over growth prospects

While a buyback could help stem the rout in Paytm shares at least temporarily, investors are questioning the attempt to manage the stock price rather than putting the cash to use for business

BharatPe CEO enjoying life with money I raised, fails to grow: Ashneer

Despite Delhi High Court's, Ashneer Grover took a serious dig at Suhail Sameer, saying the BharatPe CEO is unable to help the fintech firm grow

BharatPe filed cases as my book 'Doglapan' created panic: Ashneer Grover

Former BharatPe Co-founder and MD Ashneer Grover claimed that his book "Doglapan" created panic among BharatPe executives and this is the reason the fintech company filed several cases against him

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

Fintech unicorn accuses them of fraud, claims Rs 88.67 crore

We Founder Circle announces 2 angel funds for early-stage start-ups

Mumbai-based We Founder Circle has in 23 months invested in more than 70 start-ups