Tagged: india

April 9, 2020 @ 10:00 pm By Omar Faridi  |  

Neobank Amica Technologies, which is managed by Jitendra Gupta, the former PayU India’s chief executive, has acquired $2 million in capital through an investment round led by two major VC firms, including UK-based Hummingbird Ventures and US-headquartered Bedrock Capital. Gupta said his company is planning… Read More

April 8, 2020 @ 8:16 pm By Omar Faridi  |  

Capital G-backed Aye Finance, a leading Fintech lender, has reportedly secured INR 180 crore (appr. $23.8 million) in debt funding in the past 15 days from several major firms in India and investors located abroad. Aye’s management noted that it managed to acquire these funds… Read More

April 6, 2020 @ 9:30 pm By Omar Faridi  |  

India-based PayU, a leading payment gateway, has introduced several projects and measures,  in order to assist local vendors, small and medium enterprises (SMEs), and business owners in dealing with the disruption due to the Coronavirus (COVID-19) outbreak. The initiatives launched by PayU will help businesses… Read More

March 30, 2020 @ 8:01 am By Samantha Hurst  |  

India-based banking group Icici Bank announced on Monday it has launched its banking services on WhatsApp in oder to enable retail customers to undertake in a “slew of banking requirements” from their home.  Anup Bagchi, Executive Director, ICICI Bank, stated that through WhatsApp, retail customers may… Read More

March 26, 2020 @ 6:28 pm By Omar Faridi  |  

The National Payment Corporation of India (NPCI), a local, non-profit umbrella organization for operating retail payments and settlement systems in the country, has requested the nation’s residents to make digital payments in order to reduce physical contact during the deadly coronavirus (COVID-19) outbreak. The NPCI,… Read More

March 25, 2020 @ 8:45 pm By Omar Faridi  |  

SOLV, an online marketplace that matches lenders and micro-, small and medium-sized MSME borrowers, has expressed concerns regarding the coronavirus (COVID-19) outbreak, which has resulted in economic uncertainty and instability. SOLV, which is a B2B platform backed by the Standard Chartered Bank, expects SMEs to… Read More

March 24, 2020 @ 11:34 pm By Omar Faridi  |  

Big Data and artificial intelligence firm ADVANCE.AI aims to assist businesses based in Asia with their digital transformation strategies. ADVANCE.AI is expanding its business operations into India by establishing business offices in Bangalore and New Delhi. The Singapore-headquartered firm also intends to open an office… Read More

March 23, 2020 @ 10:11 pm By Omar Faridi  |  

TFP Solutions Bhd, a provider of business productivity solutions and services for large enterprises, is planning to market the OneCENT mobile-based Fintech platform to local consumers in Malaysia after the Movement Control Order (MCO) has been lifted. Datuk Hussian A Rahman, managing director and board… Read More

March 23, 2020 @ 11:15 am By Omar Faridi  |  

Indian authorities have arrested a woman who allegedly stole 64 Bitcoins (BTC), valued at around $380,000 (at time of writing), from a company where she had been working. Ayushi Jain, a 26-year-old woman, had reportedly been employed at Bitcipher Labs, a Bengaluru-headquartered firm. As confirmed… Read More

March 22, 2020 @ 9:52 pm By Samantha Hurst  |  

HUMBL, a US fintech that delivers mobile payments and financial services, announced on Friday it has formed a new partnership with India’s payment service Digital India Payments Limited to help with its expansion into the country’s market. HUMBL describes itself as a mobile, financial services… Read More

March 18, 2020 @ 11:10 pm By Omar Faridi  |  

India-based Vivriti Capital, an online debt platform, has reportedly secured INR 3.5 billion (appr. $50 million) in funding through a Series B investment round from LGT Lightstone Aspada. Vivriti’s latest round has come only around 10 months after the firm’s Series A round from US-headquartered… Read More

March 18, 2020 @ 9:52 am By JD Alois  |  

Hedera Hashgraph an “enterprise-grade” distributed ledger technology (DLT) that seeks to solve many of the issues plaguing existing iterations of blockchain, has received a nice endorsement of sorts. Wipro Limited (NYSE:WIT) has joined the Hedera Governing Council.  Wipro is an India-based IT company. Wipro operates… Read More

March 18, 2020 @ 8:08 am By Omar Faridi  |  

Khatabook, a business app that helps micro-, small and medium-sized enterprises (MSMEs)  with performing digital transactions, has revealed that it has entered a partnership with former Indian Cricket captain Mahendra Singh (MS) Dhoni. MS Dhoni, the World Cup-winning skipper, will make a strategic investment in… Read More

March 18, 2020 @ 7:26 am By Omar Faridi  |  

The Reserve Bank of India (RBI), the nation’s central bank, has announced that it will be lowering the capital requirements for payment aggregators. This move may further increase the number of digital transactions carried out in the country. The RBI noted in a statement published… Read More

March 18, 2020 @ 12:58 am By Omar Faridi  |  

India-headquartered PhonePe, a major digital payments platform, has been diversifying its line of products and services, which initially included only a mobile wallet (and a few other services). PhonePe is planning to become a full-fledged financial services firm, and has been working toward this goal… Read More

March 17, 2020 @ 4:19 pm By Samantha Hurst  |  

India-based banking group Icici Bank announced on Tuesday the launch of its digital banking platform, ICICIStack. According to ICICI Bank, the platform will offer digital banking services and Application Programme Interface (API) to ensure banking experience to customers in retail and business industries, which includes… Read More

March 16, 2020 @ 11:48 pm By Omar Faridi  |  

India-based NBFC Clix Capital Services Pvt Ltd (Clix), an established online lending platform, has introduced an artificial intelligence (AI)-powered bot, called “Maya,” in order to improve customer experience. Maya will assist the lending service’s clients in acquiring quick loans by first checking their credit scores… Read More

March 15, 2020 @ 10:45 am By Xu Gao  |  

The PBC, NDRC and Four Other Authorities Jointly Release the Work Plan for Coordinated Regulation of Financial Infrastructures In order to strengthen the construction of financial infrastructure, coordinate the regulation of important financial infrastructures and improve the capability of the financial sector to serve the… Read More

March 13, 2020 @ 2:16 pm By Omar Faridi  |  

The ongoing competition between traditional banks and innovative Fintech firms might be coming to an end or is already over, according to Barclays, a British multinational investment bank and financial services company with over $1.2 trillion in assets. A recent report from the London-headquartered investment… Read More

March 10, 2020 @ 9:31 pm By Omar Faridi  |  

India-based Fintech industry participant U GRO Capital aims to assist women business owners by offering them convenient access to working capital. U GRO Capital is an online lending platform that focuses on small and medium-sized (SME) businesses. The firm has introduced an unsecured lending product,… Read More