Tagged: india

India: Directorate of Enforcement Freezes Crypto-Assets, as Part of Investigation Involving Gaming App

Directorate of Enforcement (ED) in India has reportedly frozen the cryptocurrencies WRX (utility token of WazirX) and USDT (Tether, an Ethereum token that is pegged to the value of a U.S. dollar) equivalent to Rs 47.64 Lakhs (appr. $58,000) “under the provisions ofthe Prevention of… Read More

Samsung India, Axis Bank Introduce Co-branded Credit Card

Samsung, which claims to be India’s largest consumer electronics company, and Axis Bank, India’s third largest private sector bank, have partnered “to launch an exclusive co- branded credit card, powered by Visa.” With the Samsung Axis Bank Credit Card, consumers will “get 10% cashback across… Read More

128 Indian Startups Raise $995M+ VC Funding in August 2022: Report

Amid the funding winter, 128 Indian startups have managed to “raise $995.1 million in August 2022, which is a 9.7% growth compared to the previous month,” reveals GlobalData, a data and analytics company. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Although the total VC funding… Read More

Newgen Introduces Low Code Trade Finance Solution for Banking Institutions

Newgen Software, a global provider of digital transformation products, has introduced what it claims to be the first low code trade finance platform at the recent customer meet in Mumbai, India. Trade finance is a fairly complex process as it involves a lot of paperwork,… Read More

Neobank Zolve Appoints Former Citigroup Exec Steve Freiberg to Leadership Team

Zolve, India’s “first” neobank providing cross-border financial services, announced the appointment of Steve Freiberg to its leadership team in the United States. Freiberg comes “with vast experience and expertise in the financial domain and has held several key leadership roles in global organizations in the… Read More

India’s Cashfree Payments Enables DASH to Manage Transactions from 2000+ Small Merchants

India’s Cashfree Payments, a payment and API banking solutions company, is enabling door-step payment collection for DASH, a tech-led go-to-market platform for brands in Tier-3 towns. DASH will be using Cashfree Payments’ point of sale solution, ‘softPOS’, “to offer this service to more than 2,000… Read More

Genesis Global Establishes Software Dev Center in Bengaluru

Genesis Global, the low-code application development platform “purpose-built” for financial markets organizations, announced the opening of its new office in Bengaluru, the fintech capital of India and “one of the largest fintech centers in the world.” With software development centers in four continents, Genesis has… Read More

India’s Consumer Lending Fintech EarlySalary Finalizes $110M Series D Round

India’s consumer lending fintech, EarlySalary, has closed its series D funding round of $110 million led by TPG’s The Rise Fund and Norwest Venture Partners. Existing investor Piramal Capital & Housing Finance Limited also participated in the investment round. This is EarlySalary’s largest fundraise to… Read More

Indian Fintech Razorpay Acquires Ezetap to Build Full-Stack Omnichannel Payments Solution

It would be an understatement to say that the past couple years have been disruptive for businesses, the Razorpay team noted in a blog post. The pandemic led to major changes in consumer behavior and businesses had to adapt to the new environment and “new… Read More

India’s NPCI International Signs PayXpert as UK’s Acquirer for UPI, RuPay

NPCI International Payments Limited (NIPL), a wholly-owned subsidiary of National Payments Corporation of India (NPCI), the organization behind the largest real-time payment solution, the Unified Payments Interface (UPI) and the RuPay card Scheme, has  “signed an MoU confirming a partnership with the payments solutions provider… Read More

Fintech Verto, Locusnine to Streamline Cross-Border Payments

Verto notes that their relationship with Locusnine began in 2019 when they partnered to focus on scaling their “MVP architecture.” Since then, they’ve gone on to build a cross-border payments platform. They are excited to announce that Locusnine is now “officially part of the Verto… Read More

Embedded Finance, Alternative Underwriting Options Allow BNPL Services to Support Easy Checkouts: Report

Since 2020, and the recent global pandemic, digital commerce has seen “exceptional growth,” according to an update from Juniper Research. Although the impact of COVID-19 certainly forced an increase in online shopping and eCommerce usage, it is clear that it is “a continuing trend,” the… Read More

Indian Fintech Tartan Secures Funding to Scale Payroll Management Solution

India-based Fintech firm Tartan has secured funding to scale its business operaitons. The investment round included contributions from 500 Global, InfoEdge Ventures, Naval Ravikant-supported AngelList Quant Fund, among other investors. The company has acquired about $6 million in capital, to date. It intends to double… Read More

Monetary Authority of Singapore and International Financial Services Centre Authority Exchange MoU

The International Financial Services Centre Authority (IFSCA) and the Monetary Authority of Singapore (MAS) recently exchanged a Memorandum of Understanding (MOU) on supervisory cooperation “in the presence of the Honorable Prime Minister of India Shri. Narendra Modi at GIFT City, Gandhinagar, India.” The MOU provides… Read More

Equity Management Firm Qapita Acquires India’s ESOP Direct

Singapore-based equity management company Qapita announced that it has completed the acquisition of India’s ESOP Direct via a full cash transaction. This should see Qapita secure complete ownership of ESOP Direct’s operating entities from its existing shareholders. With this strategic acquisition, Qapita should become one… Read More

India’s Unocoin Teams Up With CleverTap to Offer Omnichannel Customer Experiences

CleverTap, which claims to be the modern, “integrated” retention cloud, announced it has partnered with Unocoin, India’s first crypto exchange, in order “to optimize, accelerate their user engagement, and provide a seamless omnichannel customer experience.” Through this collaboration, and by integrating CleverTap’s solution into its… Read More

UK based Fintech Tide Introduces Pre-Paid Cards for India’s Small Businesses

UK-based business financial platform Tide has teamed up with Transcorp International Limited in order to issue prepaid cards intended for SMEs across India. The co-branded Tide Expense Cards should be introduced as an entry product, supported by India‘s card payment network, Rupay. The Tide app… Read More

Jungle Ventures Leads MarketWolf’s $10M Series A Round

Stock trading platform MarketWolf has finalized a $10 million Series A round that was led by Jungle Ventures and Dream Capital. Existing investors and others such as 9Unicorns, iSeed, Crescent and Riverwalk, also took part in the investment round. As mentioned in the update, this… Read More

Crypto Jobs Report: Circle, Kraken, CoinDCX, Nium Looking to Hire New Talent

  Analysis of online jobs data has found that digital currency exchange Kraken is “leading” the crypto recruitment charge. The company is looking “to fill over 650 new positions in the past week in the UK and United States.” Further analysis shows that Jack Dorsey’s… Read More

India’s Revenue-based Financing Fintech GetVantage Secures $36M in Funding

GetVantage, India’s revenue-based financing Fintech & growth platform for SMEs, has raised $36 million in growth funding led by Varanium Nexgen Fintech Fund, DMI Sparkle Fund, and returning investors Chiratae Ventures and Dream Incubator Japan. Other new investors who participated in this investment round “include… Read More

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