Tagged: india

India Fintech Startup Kissht Secures $2 Million From Endiya Partners & Ventureast

Mumbai-based fintech startup Kissht announced this week that it has secured $2 million from early-stage venture capital firm Endiya Partners and Ventureast. Launched in 2015, Kissht’s app now allows users to purchase items on EMI without using a credit card through collateral-free loans. The service… Read More

WISeKey Opens Blockchain Centre of Excellence in India

Cybersecurity company WISeKey announced on Wednesday the launch of its artificial intelligence and blockchain Centre of Excellence located in India that will support its global projects. According to the company, The India location will be working to expand its AI project, WISeAI-integrating the WISeKey Indian… Read More

3 Takeaways from Mary Meeker’s 2017 Internet Trends Report

This article highlights three takeaways for Fintech firms from Mary Meeker’s 355-page-long report: 1) The Internet’s center of gravity shifts to Asia; 2) The biggest get bigger; 3) Fintechs must use gamification to improve customer engagement. Since 2001, Mary Meeker, a Partner at venture capital… Read More

MobiKwik Phones Home, Adds 95 Million Users with New Telecom Partnership

India-owned telecom company Bharat Sanchar Nigam Limited (BSNL) and Indian mobile wallet platform MobiKwik have synced to develop BSNL’s mobile application, according to a release. MobiKwik will co-create BSNL wallet, a new semi-closed wallet to facilitate payment and also sell BSNL products. “We are proud to associate with BSNL in… Read More

India Insurance Company Coverfox Secures $15 Million During Series C Funding Round Led By Transamerica

India-based Coverfox has reportedly raised Rs 96 crore ($15 million) during its latest Series C Funding Round, which was led by U.S. insurer Transamerica with participation from existing investors. Founded in 2013 byVarun Dua and Devendra Rane, Coverfox reportedly offers products online for Indian customers across… Read More

Brief: Indian P2P Lender LoanMeet Secures Seed Funding from Chinese Investors

Increasingly cross national investment in fintech is becoming the norm.  As an example, today Bengaluru-based P2P lender lender LoanMeet has raised an undisclosed amount of seed funding from Chinese entrepreneur-turned-investors Cao Yibin and Huang Wei, along with KrazyBee.com co-founder and CEO Madhusudan E, according to multiple new… Read More

Flipkart to Add Online Loans to its Marketplace

Flipkart, one of the largest e-commerce platforms in India sales topping $2 billion each year, is getting into Fintech. Just like all other e-commerce platforms the combination of providing credit to customers is just too compelling of a business to pass up. Flipkart states that… Read More

OurCrowd Sets Up Tech Incubator in Israel with the Backing of Motorola, Reliance Industries & Yissum

OurCrowd, a leading equity crowdfunding platform, has partnered with Motorola Solutions (NYSE: MSI), Reliance Industries (NSE: Reliance) and Yissum Technology Transfer Company of the Hebrew University of Jerusalem, to operate an “innovation technology incubator” that will support the growth of early stage startups in Jerusalem.  The… Read More

OurCrowd Partners with Reliance Private Client in India

OurCrowd, a global leader in equity crowdfunding, has signed a strategic collaboration agreement with Reliance Private Client, part of Reliance Capital, one of India’s leading wealth management companies. Reliance Group, the parent company, is amongst India’s leading business houses with over 250 million customers. Reliance Capital… Read More

Becoming a Bank: Zopa Raises £32 Million to Build “Next Generation” Bank

Peer to peer lender Zopa has raised £32 million in a “series of transactions” to finance the creation of a next generation bank.  The funding was led by Wadhawan Global Capital Pvt Ltd (WGC), an Indian financial services group, and Northzone, a European VC fund. As… Read More

Applied Data Finance Increases Credit Facility with Victory Park Capital, Receives $6.5 Million Equity Boost

Applied Data Finance, LLC (ADF), a “technology-enabled lender” and asset manager, has announced that Victory Park Capital (VPC) has increased its existing credit facility with ADF from $50 million to $75 million. The facility has also been extended through 2021. Simultaneously, ADF raised $6.5 million… Read More

“Constructive Synergy”: Indian P2P Lender Faircent Introduces New Student Loan

Indian online P2P lending platform Faircent.com announced a new semi-secure student loan product in collaboration with Bangalore-based micro-lending startups.  Lenders ay also opt for a partly-secured alternative-investment opportunity that delivers a higher return. Under the partnership, college students may fund purchase of items such as laptops, books and… Read More

Telr Recieves $3 Million Series B Funding

Mumbai-Singapore based Telr, founded in 2014 by Sirish Kumar and Elias Ghanmen, has received additional funding in a Series B round. Telr received $3 million led by Innovation East Funds.  Telr is a payments gateway, MCA and ecommerce platform that is growing in emerging markets. Telr expects… Read More

Paytm Payments Bank Limited to Launch Next Week

Paytm is launching a bank. The news was published in advance of the announcement that SoftBank had invested $1.6 billion into Paytm’s parent company One97 Communications Limited. The SoftBank investment may have been incentivized due to the fact the Reserve Bank of India had approved the… Read More

Jungle Ventures Leads $5.3 Million Series A for PaySense

Online lender PaySense has raised $5.3 million in a Series A funding round led by Jungle Ventures. PaySense, based in India, allows consumer unsecured loans. Founded in 2015 and based in Mumbai, Paysense seeks to solve the fundamental problem of not having simple, convenient and… Read More

SoftBank Backs Paytm with $1.6 Billion

Paytm has announced that SoftBank has invested in their parent company One97 Communications Limited. The $1.6 billion commitment is said to be the single largest funding round from a single investor in India. Crowdfund Insider reported this past week that Paytm was discussing an investment… Read More

Abu Dhabi Global Market Announces Fintech RegLab Winners, Welcomes Next Round of Applicants

Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, has announced its first batch of Fintech Regulatory Laboratory (Reglab) participants comprising five local and international Fintech startups with various innovation offerings.The ADGM Reglab is reportedly the first Fintech regulatory sandbox and framework in the… Read More

Indian Mobile Wallet Paytm Acquires FreeCharge, in Talks with SoftBank

Paytm is now in talks with SoftBank to raise up to $1.9 billion in fresh funding, hiking its value to a cool $8 billion or more, according to multiple new sources. Paytm counts over 218 million wallet users; last month alone Paytm clocked 255 million transactions.  Founded… Read More

MobiKwik Reaches for Unicorn Status, Set to Raise Funding from BlackRock

One billion dollars. MobiKwik is set to raise funds from investors including BlackRock Inc. which will value the innovative Indian Fintech company at about $1 billion, according to Bloomberg. Headquartered in Gurgaon, MobiKwik offers a mobile phone based payment system. Customers add money to an online wallet that… Read More

India’s Impact Guru & GlobalGiving Announces Partnership: Offers Tax Benefits to International Donors in the U.S. & UK

India-based crowdfunding platform for NGOs, medical, and personal causes Impact Guru announced on Tuesday it formed a partnership with U.S. and UK-based non-profit crowdfunding platform, GlobalGiving. According to the duo, this new partnership will enable vetted Indian NGOs and social enterprises raising funds on Impact Guru to… Read More