Tagged: india

February 14, 2021 @ 5:28 pm By Omar Faridi  |  

India-based consumer lending firm MoneyTap has reportedly decided to expand its business operations to include Buy Now, Pay Later (BNPL) services. MoneyTap said its new BNPL solutions will aim to provide more accessible, affordable, and 0% (equated monthly installments) EMI options to Indian consumers. MoneyTap… Read More

February 13, 2021 @ 2:41 pm By Omar Faridi  |  

Thrasio, a company that acquires and then aims to quickly grow third-party sellers on Amazon (NASDAQ: AMZN) has finalized $750 million in new funding, raising the firm’s valuation to around $3 billion to $4 billion. The investment round was led by current investors Advent and… Read More

February 13, 2021 @ 9:40 am By Omar Faridi  |  

Twitter (NYSE:TWTR) CEO Jack Dorsey confirmed on Friday (February 12, 2021) that he has teamed up with legendary billionaire hip-hop artist and businessman Jay-Z to finance and support projects in Africa and India with Bitcoin (BTC). Money lessons from one of the greatest rappers of… Read More

February 7, 2021 @ 8:29 pm By Omar Faridi  |  

Deepika, who writes blog posts for LocalBitcoins, a peer-to-peer Bitcoin exchange, has asked whether there are any small business owners in India that accept BTC as a form of payment for goods and services. Deepika notes that it can be inconvenient when a small business… Read More

February 6, 2021 @ 6:37 pm By Omar Faridi  |  

SATYA MicroCapital, a fast-growing micro-lending firm based in India, has reportedly secured INR 153 Crore (appr. $21 million) in funding from Japan’s Gojo & Company. The microfinance lender confirmed that the recent investment acquired is one of the largest capital infusions it has received (and… Read More

February 4, 2021 @ 4:40 pm By Samantha Hurst  |  

Vested Finance, an online investment platform that enables Indian investors to invest in the U.S. stock market, announced on Thursday it raised $3.6 million through its latest seed funding round, which saw participation from Moving Capital, Ovo Fund, TenOneTen Ventures, Inflection Point Ventures, and Venture… Read More

February 2, 2021 @ 10:16 pm By Omar Faridi  |  

Bengaluru-based Simpl, a company that aims to make money simple, so that people can “live well and do amazing things,” has noted that the recent India budget appears to be focusing on the “revival” of inclusive economic growth and an “expansionary fiscal policy that prioritized… Read More

January 31, 2021 @ 11:50 pm By Omar Faridi  |  

The Indian Parliament will reportedly be considering a government-supported bill that could place a ban on “private” cryptocurrencies during its upcoming budget session. Since the nation’s ruling party has control over both houses of Parliament, there’s a fairly good chance that the proposed bill could… Read More

January 29, 2021 @ 7:55 pm By Omar Faridi  |  

Finastra, a financial services software and Cloud-enabled solutions provider, has confirmed that it will be teaming up with HCL Technologies, an India-based multinational tech firm, in order to offer treasury management technology via the Cloud to smaller banks based in Europe, North America, India, and… Read More

January 27, 2021 @ 6:51 pm By Omar Faridi  |  

The LuLu Exchange in the United Arab Emirates (UAE) has confirmed that they’re teaming up with American Fintech Ripple (which is the subject of a major enforcement action from the US SEC) and Federal Bank in order to enhance real-time payments capabilities from the UAE… Read More

January 26, 2021 @ 1:53 pm By Samantha Hurst  |  

Empaxis Data Management, a cloud-based fintech and middl-and back-office services provider for investment management firms, announced on Tuesday it has opened  new office in Kolkata, India.  Founded in 2004, Empaxis provides outsourcing, automation tools, and cloud-based fintech to investment firms worldwide. The company’s clients include… Read More

January 21, 2021 @ 10:56 pm By Omar Faridi  |  

Mumbai-based 5paisa, a one-stop shop for quality research and low-cost and “cutting-edge” trading platforms, notes that last year, there were relatively few IPO listings, but there was still a lot of participation on Dalal Street (which is the address of the Bombay Stock Exchange and… Read More

January 19, 2021 @ 12:28 pm By Samantha Hurst  |  

UK-based challenger bank Tide reportedly announced on Monday it is planning to expand its services to India.  According to Business Standard, Tide is planning a test launch in India during the first quarter of 2021. The company will later be doing a wider rollout later… Read More

January 18, 2021 @ 11:06 pm By Omar Faridi  |  

A third or around 33% of households in India are now using digital payments, with usage being evenly spread across different income groups, according to a survey performed by the National Payments Corporation of India (NPCI) and People Research on India’s Consumer Economy (Price). The… Read More

January 11, 2021 @ 10:23 pm By Omar Faridi  |  

Banking institutions and online payments providers in India have asked the nation’s government to bring back the Merchant Discount Rate (MDR) on RuPay, which is an international card payment service launched by the National Payments Corporation of India. Digital payments providers in the country also… Read More

January 7, 2021 @ 10:57 pm By Omar Faridi  |  

India’s B2B digital commerce platform Udaan has secured $280 million in funding via its extended Series D investment round from new and existing investors. Octahedron Capital and Moonstone Capital are listed as new investors. They’ve joined Udaan’s existing backers which reportedly includes Altimeter, DST Global,… Read More

January 4, 2021 @ 11:32 pm By Omar Faridi  |  

The Institute for Development and Research in Banking Technology (formed by the Reserve Bank of India) has revealed that the digital economy sector in India is expected to “double its output as early as 2025.” Digitization in India is expected to lead to “widespread economic… Read More

January 4, 2021 @ 12:33 pm By Samantha Hurst  |  

    CRED, an India-based fintech startup, has reportedly secured $81 million through its Series C funding round, which was notably led by DST Global with participation from Sequoia Capital, Ribbit Capital, Tiger Global, and General Catalyst. The investment round brings CRED’s post-money valuation to… Read More

January 3, 2021 @ 10:30 pm By Omar Faridi  |  

Google Pay for Android and iOS users now lets people see how much money they’ve spent during 2020. The expense tracking feature allows consumers to get a rough idea or estimate of their spending habits throughout the last year. Google Pay will also show users… Read More

January 2, 2021 @ 11:05 pm By Omar Faridi  |  

The Reserve Bank of India (RBI) has introduced a new index in order to measure the growth and adoption of digital payments in the country. The RBI revealed that virtual payments grew 2x in March 2020 when compared to March 2018. The index was created… Read More