Tagged: india

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


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


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


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


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


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

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