Tagged: india

December 12, 2020 @ 6:57 pm By Omar Faridi  |  

Smallcase, a Fintech firm that allows people to invest in a basket of stocks, has acquired an undisclosed amount of capital (as part of its Series B investment round) from HDFC Bank, an Indian banking and financial services company based in Mumbai. HDFC Bank (NSE:… Read More

December 7, 2020 @ 11:31 pm By Omar Faridi  |  

Raj Khosla, the founder and MD at MyMoneyMantra (MMM), which claims to be India’s largest “phygital” (physical-digital) marketplace for loans and credit cards, says that his company has consistently earned substantial revenue since its inception in1989. Khosla began his loan distribution business over 30 years… Read More

December 7, 2020 @ 9:36 am By Samantha Hurst  |  

  India-based banking group ICICI Bank announced on Monday the launch of its iMobile Pay app. ICICI Bank claims that iMobile is India’s first app that offers payments band banking services for all. “The app offers a unique combination of facilities of a payment app–… Read More

December 5, 2020 @ 3:00 pm By Omar Faridi  |  

Fintech company MobiKwik has acquired Rs 52 crore (appr. $7 million) in capital through an investment round led by Hindustan Media Ventures, the investment division of HT Group. The round included contributions from Infosys Co-Founder Kris Gopalakrishnan’s family office, Pratithi. The funds raised will be… Read More

December 5, 2020 @ 1:15 pm By Omar Faridi  |  

India-based digital payments firm PhonePe has branched out from its parent company, the Walmart-owned Flipkart Group. PhonePe is now valued at an estimated $5.5 billion, the company confirmed on December 3, 2020. According to the announcement, Flipkart will maintain its own majority stake of 87%… Read More

December 4, 2020 @ 2:34 pm By Samantha Hurst  |  

  BHIVE announced on Friday its fintech entity, BHIVE Investech, has received $1 million investment commitment from a combination of current and fresh investors. According to BHIVE, BHIVE Investech is an asset-light fintech company that aims to democratizing the commercial real estate market by providing… Read More

December 2, 2020 @ 9:33 pm By Omar Faridi  |  

Governments across the globe are always trying to create a balance between enabling or supporting tech advancements and innovation while preventing large companies such as Google (NASDAQ:GOOG) and Facebook (NASDAQ:FB) from unfairly using their dominant position to eliminate smaller competitors. India is reportedly planning to… Read More

December 2, 2020 @ 11:39 am By Samantha Hurst  |  

Razorpay, an India-based digital bank, has announced its integration with payment giant PayPal. Razorpay reported that its partner businesses may now integrate with PayPal and accept payments from international customers from across 200 markets. “By integrating PayPal into Razorpay’s payment platform, freelancers and MSMEs will… Read More

November 27, 2020 @ 6:00 pm By Omar Faridi  |  

The National Payments Corporation of India (NPCI), an umbrella organization for handling retail payments and settlement systems in India, has decided to issue an additional 4.63% of its equity shares to 19 new investors. These investors now also include Fintech firms and payment system providers…. Read More

November 25, 2020 @ 6:09 pm By Omar Faridi  |  

India Fintech Forum, a non-profit Fintech advocacy group, revealed on November 24, 2020, that it had shortlisted 27 financial technology firms for its 5th installment of India Fintech Awards (IFTA). The Fintechs will be presenting live demos to the event judges, beginning on November 30… Read More

November 21, 2020 @ 9:40 pm By Omar Faridi  |  

Nandan Nilekani, the Chairman at InfoSys, recently noted that French expertise could help with establishing an Aadhar-like system in order to make data more accessible to everyone. The Aadhaar system provides a 12-digit unique identity number that may be obtained voluntarily by India’s residents or… Read More

November 19, 2020 @ 11:03 pm By Omar Faridi  |  

India-based banking group ICICI Bank has launched an all-digital mode of payment at major retail stores. Referred to as the “ICICI Bank Cardless EMI” (Equated Monthly Instalments), the facility allows thousands of the bank’s pre-approved customers to purchase their favorite gadgets or home appliances simply… Read More

November 17, 2020 @ 11:41 pm By Omar Faridi  |  

Indian Fintech U GRO Capital, an online lending platform for SMEs, has released its Q2 FY21 financial results and posted a (profit after tax) PAT of INR 17.2 Crores (appr. $2.28 million). The BSE (formerly called Bombay Stock Exchange) stock exchange-listed, technology-focused platform noted that… Read More

November 17, 2020 @ 8:22 am By Samantha Hurst  |  

Sarwa, an India-based online investment advisory platform for young professionals, announced on Tuesday it has joined forces with Saxo Bank to launch its new product, Sarwa X. According to Sarwa, the collaboration with Saxo will support the advisory platform’s growth across the MENA region as well… Read More

November 16, 2020 @ 9:57 pm By Omar Faridi  |  

Madhur Deora, President at Paytm, a major digital payments company, says that there’s no doubt that India is a leading technology market. Deora, whose comments came during a recent CNBC interview, states that it’s only natural that there will be a lot of competition from… Read More

November 11, 2020 @ 11:55 pm By Omar Faridi  |  

India’s antitrust body has reportedly ordered an investigation that will look into whether Alphabet Inc’s Google has been taking unfair advantage of its market position in the country to promote its digital payments app. The tech giant has also been accused of forcing application developers… Read More

November 10, 2020 @ 7:17 pm By Omar Faridi  |  

The Bank of India (BoI), a major commercial bank with headquarters in Bandra Kurla Complex, Mumbai, has decided to postpone its plans to launch additional physical branches because the institution’s customers now prefer to use its digital banking platform. The BoI is also looking into… Read More

November 9, 2020 @ 11:21 pm By Omar Faridi  |  

The government in the Indian state of Gujarat is planning to introduce policies that will support the growth of the local Fintech sector. The state is looking to generate more revenue and may also be looking to acquire additional income via direct and indirect taxes… Read More

November 6, 2020 @ 7:26 am By Omar Faridi  |  

Facebook (NASDAQ:FB) owned WhatsApp has reportedly received approval to introduce its digital payments services in India. The National Payments Corporation of India (NPCI), which is an umbrella organization for operating or managing retail payments and settlement systems in the country, has given WhatsApp the green… Read More

November 4, 2020 @ 1:02 pm By Samantha Hurst  |  

BlocPal, digital transaction platform, has teamed up with Indian entrepreneur Shashank Joshi to create a new India-based fintech startup, mBnk. According to the duo, mBnk will initially focus on allow premium retailer locations in both rural and semi-urban areas to provide essential financial and banking… Read More