Business Standard

Indian Fintech

M2P Fintech raises Rs 850 crore in series D, valuation at Rs 6,550 crore

The capital raised in the latest funding round will be utilised to strengthen its operations in India and grow its international footprint, particularly in Africa, the company said

M2P Fintech raises Rs 850 crore in series D, valuation at Rs 6,550 crore
Updated On : 24 Sep 2024 | 6:29 PM IST

Stashfin parent AKARA Capital lists first Rs 10,000 face value NCDs on BSE

This follows a July 2024 Sebi amendment lowering the minimum face value of debt securities from Rs 1,00,000 to Rs 10,000, expanding retail investment opportunities

Stashfin parent AKARA Capital lists first Rs 10,000 face value NCDs on BSE
Updated On : 11 Sep 2024 | 5:10 PM IST

Global Fintech Fest highlights: India's fintech revolution is improving financial inclusion, says PM

PM Modi at Global Fintech Fest highlights: Catch all the news developments here

Global Fintech Fest highlights: India's fintech revolution is improving financial inclusion, says PM
Updated On : 30 Aug 2024 | 9:28 PM IST

Fintech has democratised financial services, success unmatched: PM Modi

Companies have 'amazing innovations' to create trust among people, he says

Fintech has democratised financial services, success unmatched: PM Modi
Updated On : 30 Aug 2024 | 2:28 PM IST

India sees nearly 2x surge in fintech IPO filings over the past five years

IPO filings have surged, nearly doubling from an average of 75 per year in 2018-2019 to 120-140 annually between 2021 and 2023, according to a new report

India sees nearly 2x surge in fintech IPO filings over the past five years
Updated On : 29 Aug 2024 | 5:12 PM IST

Navi Finserv closes $38 mn personal loan securitisation deal with JP Morgan

Navi Finserv on Tuesday said it has closed a USD 38 million (about Rs 315 crore) personal loans securitisation deal with J P Morgan. The transaction structured in the form of pass-through certificates (PTC) will be backed by a pool of unsecured personal loans, originated and serviced by Navi Finserv, the NBFC firm prompted by Sachin Bansal said in a statement. This is J P Morgan's first pass-through certificate transaction in the fintech space in India and the first unsecured personal loans backed PTC transaction in India, it said. Navi Finserv will use the funds to expand further and grow its digital personal loans business, it said, adding, digital lending is accelerating in India and constitutes a significant portion of the overall Indian fintech market. Market share is expected to rise to 60 per cent of the total fintech market by 2030, fueled by increasing smartphone penetration, internet usage, and the need for faster and convenient loan disbursals, it said. Navi Finserv's .

Navi Finserv closes $38 mn personal loan securitisation deal with JP Morgan
Updated On : 30 Jul 2024 | 4:47 PM IST

RBI finalises framework for self-regulatory organisations in fintech sector

An SRO is a non-governmental organisation that acts as a bridge between industry players and the regulator. It also sets standards for the conduct of entities operating in the country

RBI finalises framework for self-regulatory organisations in fintech sector
Updated On : 31 May 2024 | 12:51 AM IST

Pine Labs gets approval from Singapore court to relocate base to India

Pine Labs' decision to shift domicile follows a broader trend among fintech firms like PhonePe and Groww, which have also moved their bases back to India

Pine Labs gets approval from Singapore court to relocate base to India
Updated On : 21 May 2024 | 11:48 AM IST

Zeta eyes 50% of $1 trn credit line on UPI banking tech opportunity by 2030

Zeta was founded by serial entrepreneurs Bhavin Turakhia and Ramki Gaddipati in 2015

Zeta eyes 50% of $1 trn credit line on UPI banking tech opportunity by 2030
Updated On : 10 May 2024 | 6:12 AM IST

Fintechs lead small-ticket loans' volume with 77% market share: Study

On the value front, fintechs cornered 29 per cent of small ticket loans disbursed in FY18, which rose to 51 per cent in FY24 (till September 2023)

Fintechs lead small-ticket loans' volume with 77% market share: Study
Updated On : 17 Mar 2024 | 11:21 PM IST

TMS Ep639: FM-fintech meet, house rent, space-related stocks, Munich accord

Will FM-fintech meet pave the road to sustainable innovation? Why is your house rent rising? Should you bet on space-related stocks? What is the Munich AI accord? All answers here

TMS Ep639: FM-fintech meet, house rent, space-related stocks, Munich accord
Updated On : 28 Feb 2024 | 12:13 PM IST

Experts suggest regulatory review to boost fintechs, ease compliance burden

With fintech sector gaining size and scale, there is a need to relook at the regulatory policies and guidelines to give further impetus to financial inclusion drive and penetration of financial products to the bottom of the pyramid, experts said. The fintech space has revolutionalised the financial sector in the country. It has also helped to a great extent in formalising the Indian economy, but the recent incident of Reserve Bank's action on Paytm Payments Bank Ltd (PPBL) left a section of industry perplexed. Post the RBI's action, a section of the industry expressed sentiment that the regulatory environment, instead of nurturing innovation, could impede the progress of fintech companies. It is being said that technology-led companies have always been ahead of regulations and regulations do catching up. The purpose of creating a payments bank was to serve an unserved and under-served population of India with a min-KYC and full KYC accounts with a credit limit of Rs 2 lakh only. "T

Experts suggest regulatory review to boost fintechs, ease compliance burden
Updated On : 26 Feb 2024 | 4:02 PM IST

What makes Indian fintech fast and furious, but also a little fraudulent?

Know-your-customer, or KYC, regulations aren't easy anywhere. But fintech adoption in India has done more than just open the floodgates to financial inclusion

What makes Indian fintech fast and furious, but also a little fraudulent?
Updated On : 22 Feb 2024 | 7:15 AM IST

Fintech personal loan disbursal up from 1.1 mn to 41.6 mn in 5 years: FACE

Similarly, the value of loans has increased from Rs 5,907 crore to Rs 40,845 crore during the same time

Fintech personal loan disbursal up from 1.1 mn to 41.6 mn in 5 years: FACE
Updated On : 22 Feb 2024 | 1:01 AM IST

RBI releases draft norms for fintech self-regulatory organisations

The draft norms, which were released on Monday, said SRO-FTs should strive towards healthy and sustainable development of the fintech sector

RBI releases draft norms for fintech self-regulatory organisations
Updated On : 15 Jan 2024 | 10:52 PM IST

Indian fintech funding declines 63%; raises total $2 bn: Tracxn Report 2023

Despite the decline, the Indian fintech sector has retained its position as the third-highest funded globally in 2023

Indian fintech funding declines 63%; raises total $2 bn: Tracxn Report 2023
Updated On : 05 Jan 2024 | 11:46 AM IST

Scapia raises $23mn funding led by Elevation Capital, 3STATE Ventures

Fintech company Scapia has raised USD 23 million in a funding round, led by Elevation Capital and Binny Bansal's 3STATE Ventures. The round also saw participation from existing investors -- Matrix Partners India and Tanglin Venture Partners. "Scapia's USD 23 million Series-A fundraise is a testament to the customers' love for its co-branded credit card and delightful app experience. Within five months of launch, Scapia has distributed its card in over 7,500 pin codes," the company said in a statement. Scapia offers financial products and travel services through its co-branded credit cards. The company plans to use the funds to grow the customer base, add more banking partners, and enhance the product offerings. "This funding will fuel our efforts to grow our customer base, add more banking partners and strengthen our product suite. We are grateful to our new and existing investors who believe in our vision and are helping us deliver a compelling proposition to our customers," Scap

Scapia raises $23mn funding led by Elevation Capital, 3STATE Ventures
Updated On : 21 Nov 2023 | 12:01 PM IST

Possible to have different SROs for fintech sectors: Industry players

A primary responsibility of these SROs would be to safeguard fintech consumers by overseeing privacy, disclosure, and recovery practices

Possible to have different SROs for fintech sectors: Industry players
Updated On : 11 Oct 2023 | 10:45 PM IST

Delhi High Court's Paypal order to impact fintech compliance costs

US-based PayPal and other payment operators in India will face increased regulatory costs due to the recent Delhi High Court ruling on compliance with the Prevention of Money Laundering Act

Delhi High Court's Paypal order to impact fintech compliance costs
Updated On : 26 Jul 2023 | 12:13 PM IST
Updated On : 11 Jul 2023 | 5:32 PM IST