Tagged: india

Indian AltFin Startup OpenTap Aims to Create Greater Access to Short-Term Loans

Disruption iPad

Alternative finance startup OpenTap is aiming to disrupt an environment where many creditworthy borrowers do not have access to short-term personal loans from the traditional financial services sector.  Founded in 2015, OpenTap is based in Chennai, India and seeks to grant access to short-term credit for… Read More

Brief: India-Based Fintech Company DataSign Technologies Secures Angel Funding

India Money

Datasigns Technologies Pvt. Ltd, an India-based fintech company behind ShubhLoans, has secured an undisclosed amount during an angel funding round, which was led by former MD of JP Morgan Sanjai Vohra and managing director and India CEO of Goldman Sachs, V. Bunty Bohra. Founded earlier this year by Anand… Read More

Brief: Monexo Plans to Expand Peer-to-Peer Lending Operations to Kolkata

Mukesh Bubna

Hong Kong-based Monexo announced this week it is looking to expand its peer-to-peer lending operations in the city of Kolkata. Founder and CEO of Monexo, Mukesh Bubna confirmed that the lender is going to start with services for personal loans.  Bubna revealed: “We have taken an… Read More

UK & India Partner on Tech Summit. Fintech Labeled Next Big Transformation in India

may-nodi-handshake

Fintech is emerging as the next big transformation in India India and the UK held a joint Tech Summit on November 7-9 in New Delhi, where Prime Minister Narendra Modi of India emphasized close collaboration between the two nations during his remarks because it was “vital that India… Read More

KredX Raises $6.25M in Series A Round Led by Sequoia Capital India & Prime Venture Partners

manish-kumar

Short-term working capital provider KredX, which helps small businesses get short-term working capital by discounting their unpaid invoices, has raised $6.25 Million in Series A round of funding. The funding round was led by Sequoia Capital India and the company’s existing investor, Prime Venture Partners. The fresh funds will… Read More

MobiKwik Co-Founder Upasana Taku Comments: No Transaction Fee for Unorganized Retail Merchants ‘Til 2017!

upasana-taku

No transaction fees until 2017! The India-based online recharge and mobile wallet company MobiKwik announced that it is waving its per transaction fee for all unorganized retail merchants until December 31 to promote the adoption of e-cash among the local grocery stores, chemists, apparel stores… Read More

Singapore Signs Cooperation Agreement with Southern India State of Andhara Pradesh

Singapore Fintech iPhone Asia

The Monetary Authority of Singapore (MAS) has signed another cooperation agreement to help propel mutual interests in Fintech development.  MAS has signed an agreement to cooperate with the government of Andhra Pradesh (GoAP), a state in India. Andhra Pradesh is one of 29 states and… Read More

CEO Bubna Comments on Monexo’s Plan to Raise $10M, Instigate Growth into India’s P2P Lending Sector

Mukesh Bubna

Hong Kong-based Monexo seeks to grow its Indian P2P lending arm, planing to raise about $10 million by December 2016 to scale up its business in India and South East Asian countries, reported The Economic Times. “We are looking to raise about $10 million by December… Read More

Barclays’ Rise Mumbai Accelerator Launches First Cohort: Features 10 Fintech Startups

Taj Mahal India

Rise Mumbai Accelerator, Barclay’s fintech accelerating program, announced it has assembled its first cohort, which consists of 10 startups. The India-based program is described as a community of the thinkers and doers that are working together to create the future of financial services. Its team revealed:… Read More

Indian Fintecher MobiKwik’s UPI Takes Off, Partners with ICICI Bank

Map of India

India-based mobile wallet company MobiKwik announced the launch of a UPI (Unified Payments Interface) on its platform which enables users to access online payments with added services including netbanking, wallets, and credit/debit cards. In addition, MobiKwik entered into a partnership with ICICI Bank which allows users to load money into their… Read More

India’s MobiKwik Opens Mobile Wallet to Include Short-Term Consumer Loans

upasana-taku

India-based mobile wallet company MobiKwik has entered the short-term consumer loan segment, claiming to be the first wallet company in India to roll out this service, according to the release. Users may also register themselves for EMIs. The approval for each loan request will be done within thirty… Read More

Unocoin Finds Pre Series-A Pot of Gold, Raises Record Amount for Indian Currency Venture

unicorn

Unocoin, a Bangalore based Bitcoin startup, has raised $1.5 million in a Pre Series-A round, the highest total raised for a digital currency venture in Indian history, said the platform. Funding was sourced from Blume Ventures, Mumbai Angels and ah! Ventures along with prominent international investors such as Digital Currency… Read More

India P2P Lender Faircent Appoints Shakti Goel as Chief of Product and Technology

shakti-goel

This week, India-based peer-to-peer lending platform Faircent announced it appointed Shakti Goel as its new chief or product and technology. Goel has over 20 years of experience in leveraging technology-based solutions and is currently the technical advisor, and board member of DEWI Online. Other positions he has held… Read More

Juicy Update: PayU Acquires Citrus Pay, Largest Indian Fintech M&A Deal

citrus-pay-jitendra-gupta-and-satyen-kothari-and-wives

The Gurgaon, India-based online payment service provider PayU has acquired its rival online payment gateway Citrus Pay. The deal was closed at $130M, making it by far the largest M&A cash deal in Indian fintech.Post completion, CitrusPay will be wholly owned by Naspers. Amrish Rau, an Citrus Pay MD, will become PayU India’s… Read More

India Fintech Paytm Gets $60M Capital Injection from MediaTek

Vijay Shekhar Sharma

Delhi-based One97 Communications, which runs mobile payment and ecommerce platform Paytm, has received Rs 400 crore ($60 million) from Taiwanese semiconductor maker MediaTek’s Mountain Capital Fund, reported the India Times.  The deal, which was ratified by the board of directors earlier this week, more than doubles Paytm’s… Read More

Brief: India Fintech Company Finvasia Secures Undisclosed Investment During Pre-Launch Phase

India Money

This week, Finvasia announced it has received an undisclosed investment during its pre-launch phase. The India-based fintech company revealed it has a valuation of Rs 150 crore, and the round was led by Intrinsic Investment Limited with participation from other venture capitalists. Founded in 2009 by Sarvjeet Singh… Read More

Lendingkart Hires Amazon and PayU Execs to Help Instigate Growth in India

rupee

Indian SME lender Lendingkart announced new hires plucked from Amazon and PayU India, reported Pymnts.com. Vishal Chopra, a former Amazon India exec, will join Lendingkart’s team as CRO, while Nihit Nirmal, formerly of PayU India, will join as SVP of products. “Lendingkart Group NBFC has emerged as… Read More

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