Tagged: india

October 4, 2016 @ 4:52 am By Erin Hobey  |  

India-based mobile wallet company MobiKwik has entered the short-term consumer loan segment, claiming to be the first wallet company in India to roll out this service, according to the release. Users may also register themselves for EMIs. The approval for each loan request will be done within thirty… Read More

September 30, 2016 @ 6:35 am By Erin Hobey  |  

Unocoin, a Bangalore based Bitcoin startup, has raised $1.5 million in a Pre Series-A round, the highest total raised for a digital currency venture in Indian history, said the platform. Funding was sourced from Blume Ventures, Mumbai Angels and ah! Ventures along with prominent international investors such as Digital Currency… Read More

September 16, 2016 @ 12:15 pm By Samantha Hurst  |  

This week, India-based peer-to-peer lending platform Faircent announced it appointed Shakti Goel as its new chief or product and technology. Goel has over 20 years of experience in leveraging technology-based solutions and is currently the technical advisor, and board member of DEWI Online. Other positions he has held… Read More

September 15, 2016 @ 5:04 am By Erin Hobey  |  

The Gurgaon, India-based online payment service provider PayU has acquired its rival online payment gateway Citrus Pay. The deal was closed at $130M, making it by far the largest M&A cash deal in Indian fintech.Post completion, CitrusPay will be wholly owned by Naspers. Amrish Rau, an Citrus Pay MD, will become PayU India’s… Read More

September 2, 2016 @ 2:29 am By Erin Hobey  |  

Delhi-based One97 Communications, which runs mobile payment and ecommerce platform Paytm, has received Rs 400 crore ($60 million) from Taiwanese semiconductor maker MediaTek’s Mountain Capital Fund, reported the India Times.  The deal, which was ratified by the board of directors earlier this week, more than doubles Paytm’s… Read More

August 30, 2016 @ 4:11 pm By Samantha Hurst  |  

This week, Finvasia announced it has received an undisclosed investment during its pre-launch phase. The India-based fintech company revealed it has a valuation of Rs 150 crore, and the round was led by Intrinsic Investment Limited with participation from other venture capitalists. Founded in 2009 by Sarvjeet Singh… Read More

August 25, 2016 @ 11:50 am By Erin Hobey  |  

Indian SME lender Lendingkart announced new hires plucked from Amazon and PayU India, reported Pymnts.com. Vishal Chopra, a former Amazon India exec, will join Lendingkart’s team as CRO, while Nihit Nirmal, formerly of PayU India, will join as SVP of products. “Lendingkart Group NBFC has emerged as… Read More

August 18, 2016 @ 1:55 am By JD Alois  |  

In Mumbai this week there was an annual banking conference where Indian government officials presented or participated. The Hindu interviewed Reserve Bank of India Deputy Governor R Gandhi and he made several interesting statements. According to Gandhi; “Banking is necessary, but banks are not adding…… Read More

August 14, 2016 @ 7:14 pm By JD Alois  |  

Bala Srinivasa, a partner at the VC firm of Kalaari Capital, recently published an interesting post on India and the development of Fintech in the country. While Fintech has gone hyperbolic in China, and the US, Europe, and the rest of Asia has seen steady… Read More

August 10, 2016 @ 2:17 pm By Samantha Hurst  |  

On Wednesday, AlliedCrowds released its latest report on the top developing countries for alternative finance. The data analyst company revealed it used its new emerging market alternative finance tool, Capital Finder, to identify the financing options for entrepreneurs in their countries and sections along with breaking down the type of… Read More

August 9, 2016 @ 10:22 am By Erin Hobey  |  

It’s official.  AngelList, the Silicon Valley-based online platform which allows startups to raise capital from accredited investors, has appointed Utsav Somani, who previously worked with LetsVenture, as an Advisor to spearhead its operations in India. In the blog post “Bringing AngelList to India”, Somani disclosed his new role… Read More

August 5, 2016 @ 10:49 am By Samantha Hurst  |  

On Friday, India-based peer-to-peer lending platform, i2iFunding, announced its new investor protection fund, Principal Protection Fund, which reportedly will allow investors to have 100% protection against loan defaults. Sharing details about the fund, Vaibhav Pandey, co-founder and CEO of i2ifunding, stated: “The principal protection fund is… Read More

July 26, 2016 @ 11:52 am By Erin Hobey  |  

News Corp VCCircle, Indian publisher of startup and private equity news, data and information, released News Corp VCCEdge India FinServ Insights related to funding in India’s Fintech sector, with a focus on segments of online personal finance and lending, reported BWDisrupt. News Corp VCCEdge, the financial… Read More

July 21, 2016 @ 11:30 am By Erin Hobey  |  

Fresh from its seed round, LenDenClub made good on its promise and has launched a new version of its P2P lending platform with features including end-to-end automation of lender-borrower transaction cycle from registration, document verification, credit analysis, transaction matching to report generation. An algorithmic-based program, built based… Read More

July 15, 2016 @ 5:12 pm By JD Alois  |  

Creditexchange, an online lending platform, has raised $500,000 in seed funding. Kuber Financial participated in the funding round but did not disclose exact terms. Creditexchange, described as India’s first hybrid consumer loan platform and institutional marketplace, will originate loans where institutional investors may co-invest in… Read More

July 6, 2016 @ 10:31 am By JD Alois  |  

Fintech startup NeoGrowth has raised its largest funding round to date. This is according to a report by the company. Based in Mumbai, NeoGrowth will provide access to credit for small and medium-sized retailers across India. NeoGrowth has now raised $35 million (or INR 225… Read More

June 22, 2016 @ 12:04 am By JD Alois  |  

Everybody’s Doing It. The State Bank of India (SBI) is the most recent government controlled financial entity that is embracing the Fintech rush. According to multiple reports, India’s largest bank has created a $30 million fund to help startups in the financial sector. The fund… Read More

June 7, 2016 @ 8:56 pm By Erin Hobey  |  

KPMG and NASSCOM 10,000 Startups just released the new report Fintech in India, targeting key elements that are “creating transformational waves across the financial ecosystem in India” and have seen extensive usage across financial service institutions. Topics include essential themes to the fintech ecosystem such as next-generation payments, financial inclusion, P2P lending, robo… Read More

June 3, 2016 @ 10:17 am By Samantha Hurst  |  

Online resource for small business finance, Biz2Credit, announced on Friday that it is set to offer online financing to thousands of India-based small and mid-size companies that are looking for business loans. The company noted it will facilitate loans and finance from $5,000 to $5 million in… Read More

June 3, 2016 @ 9:31 am By Samantha Hurst  |  

People Over Profit (POP), a new low-cost, long-haul airliner, announced this week the launch of its self-running crowdfunding campaign.  According to POP, it is not just considered the only airliner to offer non-stop flights from the UK to India’s cities, Amritsar (Punjab) and Ahmedabad (Gujarat), it is also corporate social… Read More