Page 8 - Fintech

Mobikwik to raise private funding as stock market turns bearish

Fintech start-up turns profitable for the first time in December quarter on massive BNPL uptake

Mastercard invests undisclosed sum in fintech firm Zeta

Fintech company Zeta has raised funds from global payments major Mastercard by selling an undisclosed stake.

Kid-focused pocket money fintech Junio raises $6 mn in pre-Series A round

UAE-based firm NB Ventures leads investment; The startup will use the capital to bolster its team, roll out new product features, and scale up customer acquisition initiatives

Junio raises $6 mn in pre-series A funding round led by NB Ventures

Junio aims to digitise pocket money for children and be the preferred digital payment option.

Religare Enterprises is now debt-free, shares up 3% amid new vertical plans

The company said it will enter new sectors such as Asset Reconstruction, Alternate Investment Funds, Insurance Broking, Digital Wealth Management

PhonePe, NITI Aayog announce FinTech Open Hackathon winners

The first prize was awarded to a hack called BizFiz, a solution for MSMEs to make loan application processes easier and make the process of loan underwriting easier for banks.

Ashneer Grover resigned after receiving Board meet agenda on PwC probe

Ashneer Grover's 9.5% stake in the company might be clawed back as it is on the Board's agenda to deliberate on the issue in the meeting tonight.

UPI logs 4.52 bn transactions worth Rs 8.26 trn in Feb, lower than Jan

In FY22 so far, UPI has processed a little over 40.49 billion transactions worth Rs 74.51 trillion

Volopay raises $29 mn from Winklevoss twins, JAM Fund, and others

Volopay has amassed a clientele with the likes of CoinDCX, Livspace, MPL, InVideo, and MX Media.

Upswing Financial Technologies raises $4 mn from QED Investors, others

Upswing Financial Technologies will use the funds in building plug-and-play platforms for open finance and help fintechs and consumer tech players offer financial services seamlessly.

Prime Venture Partners' Fund IV closes at $120 million

It will invest in disruptive technology companies across fintech, edtech, healthtech, consumer internet and Global SaaS.

The unravelling of Ashneer Grover's fortunes: A blow-by-blow account

Murmurs of a toxic work culture at BharatPe grew louder in the wake of its co-founder's personal behaviour

Unity SFB not affected by BharatPe tussle: Centrum Capital's Jaspal Bindra

Jaspal Bindra says Centrum's partnership is with funds like Sequoia, not Grovers

Policybazaar falls 8%, hits new low; stock tanks 52% in three months

In the past two weeks, PB Fintech has slipped 28% after Yashish Dahiya, executive director and CEO, and Alok Bansal, whole time director and CFO, sold 6.09 million shares of the company

BharatPe looking for CFO, internal audit head after sacking Madhuri Jain

Sources say fintech unicorn is in the process of hiring CFO, internal audit head, strengthening procurement processes in next one month

BharatPe saga: Allegations fly thick and fast as firm fires Madhuri Jain

Founder & MD Ashneer Grover has filed an emergency plea in SIAC to stop a probe into alleged financial mismanagement in the company.

CCI seeks more information, likely delaying PayU's acquisition of Billdesk

The deal will help PayU become an online payment provider globally by total payment volume.

Propelld raises $35 mn in Series-B funding led by WestBridge Capital

Propelld has tie-ups with over 550 educational institutes and is currently clocking an annual loan disbursal run rate of Rs 600 cr.

Pine Labs raises $150 mn from Alpha Wave, takes total to $870 mn in 7 mths

Valuation not disclosed, though one report put the figure at $5 bn

Fintech platform Propelld raises $35 mn to boost education finance biz

Currently employing around 150, Propelld plans to add another 100-150 employees over the next year across technology, business development and collections.