Tagged: india

India Official: Banking is Necessary. Banks are Not

Dinosaur Bank

In Mumbai this week there was an annual banking conference where Indian government officials presented or participated. The Hindu interviewed Reserve Bank of India Deputy Governor R Gandhi and he made several interesting statements. According to Gandhi; “Banking is necessary, but banks are not adding…… Read More

AlliedCrowds Reports: India Tops Developing Countries for Alternative Finance List

India Money

On Wednesday, AlliedCrowds released its latest report on the top developing countries for alternative finance. The data analyst company revealed it used its new emerging market alternative finance tool, Capital Finder, to identify the financing options for entrepreneurs in their countries and sections along with breaking down the type of… Read More

Utsav Somani Leads AngelList’s Foray into India: Brings Syndicates

Utsav Somani

It’s official.  AngelList, the Silicon Valley-based online platform which allows startups to raise capital from accredited investors, has appointed Utsav Somani, who previously worked with LetsVenture, as an Advisor to spearhead its operations in India. In the blog post “Bringing AngelList to India”, Somani disclosed his new role… Read More

i2ifunding Unveils Investor Protection Fund

vaibhav pandey

On Friday, India-based peer-to-peer lending platform, i2iFunding, announced its new investor protection fund, Principal Protection Fund, which reportedly will allow investors to have 100% protection against loan defaults. Sharing details about the fund, Vaibhav Pandey, co-founder and CEO of i2ifunding, stated: “The principal protection fund is… Read More

News Corp VCCEdge India FinServ Insights: India Fintech’s 23 Deals Harvest $184 million

Nita Kapoor

News Corp VCCircle, Indian publisher of startup and private equity news, data and information, released News Corp VCCEdge India FinServ Insights related to funding in India’s Fintech sector, with a focus on segments of online personal finance and lending, reported BWDisrupt. News Corp VCCEdge, the financial… Read More

Creditworthy Brief: India’s LenDenClub Streamlines P2P Lending Platform

I love Peer to Peer Lending P2P

Fresh from its seed round, LenDenClub made good on its promise and has launched a new version of its P2P lending platform with features including end-to-end automation of lender-borrower transaction cycle from registration, document verification, credit analysis, transaction matching to report generation. An algorithmic-based program, built based… Read More

Indian Online Lender Creditexchange Raises $500,000 Seed Round with Participation from Kuber Financial

India Money Rupee Ghandi

Creditexchange, an online lending platform, has raised $500,000 in seed funding. Kuber Financial participated in the funding round but did not disclose exact terms. Creditexchange, described as India’s first hybrid consumer loan platform and institutional marketplace, will originate loans where institutional investors may co-invest in… Read More

Indian Fintech Credit Provider NeoGrowth Has Raised $35 Million

India Money

Fintech startup NeoGrowth has raised its largest funding round to date. This is according to a report by the company. Based in Mumbai, NeoGrowth will provide access to credit for small and medium-sized retailers across India. NeoGrowth has now raised $35 million (or INR 225… Read More

State Bank of India Creates $30 Million Fund for Fintech

Arundhati Bhattacharya

Everybody’s Doing It. The State Bank of India (SBI) is the most recent government controlled financial entity that is embracing the Fintech rush. According to multiple reports, India’s largest bank has created a $30 million fund to help startups in the financial sector. The fund… Read More

KPMG & NASSCOM 10,000 Startups Report: Fintech in India Expected to Double

India Flag

KPMG and NASSCOM 10,000 Startups just released the new report Fintech in India, targeting key elements that are “creating transformational waves across the financial ecosystem in India” and have seen extensive usage across financial service institutions. Topics include essential themes to the fintech ecosystem such as next-generation payments, financial inclusion, P2P lending, robo… Read More

Biz2Credit Set to Offer Online Financing to Thousands of Small & Mid-Sized Companies in India

Taj Mahal India

Online resource for small business finance, Biz2Credit, announced on Friday that it is set to offer online financing to thousands of India-based small and mid-size companies that are looking for business loans. The company noted it will facilitate loans and finance from $5,000 to $5 million in… Read More

New Airliner People Over Profit Seeks £5M During Self-Running Crowdfunding Campaign

Pop 1

People Over Profit (POP), a new low-cost, long-haul airliner, announced this week the launch of its self-running crowdfunding campaign.  According to POP, it is not just considered the only airliner to offer non-stop flights from the UK to India’s cities, Amritsar (Punjab) and Ahmedabad (Gujarat), it is also corporate social… Read More

Vaibhav Pandey, CEO of P2P Lender i2iFunding Shares Insight into Nascent India Market

Taj Mahal India

The peer to peer lending industry in India has been slow to evolve in contrast to many other nations. Yet India is the second most populous country with more than 1.2 billion people and is the most populous democracy in the world. The opportunity for… Read More

Brief: JM Financial Ltd Leads Series A Round for Indian P2P Lender Faircent

India Money

P2P lending startup Faircent has raised Series A round led by JM Financial Ltd subsidiary which has picked up 9.8% stake in the company, according to a release. The capital will be utilized by the Mumbai-based company to build its technology and product as well strengthening and growing… Read More

MobiKwik Taps GMO Payment Gateway & MediaTek for Successful Series C Round

Asia Map on Globe

MobiKwik, a Gurgaon, India based mobile wallet company, has raised an undisclosed amount of funding led by Japanese GMO Payment Gateway and Taiwanese fabless semiconductor company MediaTek, according to a company press release. The round was part of Series C round raised last month, which included participation from its existing investors… Read More

Reserve Bank of India Consultation Paper on Peer to Peer Lending (Document)

India Money

Embedded below is the consultation paper crafted by the Reserve Bank of India (RBI) in anticipation of creating a regulatory regime for peer to peer lending.  The document sets out to review the various legal frameworks in place around the world for peer to peer… Read More

Y Combinator Alum ClearTax Rakes in $1.3M Funding, Backed by Angels Levchin, Ravikant

cleartax

Income tax returns e-filing website ClearTax has secured an angel investment of $1.3 million from top Silicon Valley angels. ClearTax was founded in 2011 by the father-son team of Raja Ram Gupta and Archit Gupta, Srivatsan Chari and Ankit Solanki, ClearTax is the fourth Indian start-up  funded… Read More

Simple and Rational P2P Regulation Expected: Details Emerge from Reserve Bank of India

Raghuram Rajan

According to Reserve Bank of India Deputy Governor R Gandhi, approval of new types of NBFCs (non-banking finance companies) will continue.  Detailed information has not yet been released from the bank, but Gandhi commented while inaugurating the ASSOCHAM summit discussing NBFCs: The Changing Landscape’ reported Mumbai’s Deccan Herald:… Read More

Brief: PeerLend Launches On-Demand Software For P2P Lending

PeerLend 2

PeerLend, an India-based peer-to-peer (P2P) lending platform, announced on Monday the launch of its new software service PeerZoom. According to the company, PeerZoom allows users to customize and configure its lending portal in the shortest time possible.  Features include: Change catalysis and architecting: PeerLend’s engagement… Read More