Tagged: mumbai

June 7, 2021 @ 10:01 pm By Omar Faridi  |  

The State Bank of India (SBI) (NSE:SBIN), a multinational, public sector banking and financial services statutory body headquartered in Mumbai, Maharashtra, reports that it has made a strategic investment in Paypal-incubated digital payments Fintech Cashfree. Launched in 2015, the Bengaluru-headquartered Fintech firm handles more than… Read More

June 1, 2021 @ 10:20 pm By Omar Faridi  |  

UK-based Fintech firm Wise (formerly doing business as TransferWise) has introduced remittance services in India, as the company looks to expand its operations globally with a new office in Mumbai. This move by London-headquartered Wise has come after the company began supporting Google Pay users… Read More

May 31, 2021 @ 7:46 pm By Omar Faridi  |  

India-based Jai Kisan, a Fintech startup that is focused on bringing modern financial services to the country’s rural areas, where commercial banking institutions have very low penetration rates, revealed on Monday (May 31, 2021) that it had acquired $30 million in capital through a new… Read More

April 21, 2021 @ 10:17 pm By Omar Faridi  |  

The TIFIN GROUP, a Fintech platform with 10 active operating firms for the asset and wealth management sector, revealed on Tuesday (April 20, 2021) that it finalized a $22.3 million Series B round. The Group also announced the addition of three strategic investors to its… 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

December 22, 2020 @ 9:49 pm By Omar Faridi  |  

Mumbai-headquartered Fintech firm TaxBuddy recently revealed that it has secured $1 million in early-stage funding from UAE’s fund Zenith Global. Launched in 2019 and owned by Mumbai’s SSBA Innovations Pvt. Ltd, the firm aims to offer an online tax advisory service through various subscription-based plans…. 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 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

October 29, 2020 @ 11:58 pm By Omar Faridi  |  

India-based Fintech platform GetVantage has acquired $5 million in capital through a seed investment round that included debt and equity financing. Chiratae Ventures (previously IDG Ventures) and Dream Incubators (from Japan) took part in the round along with other investors – which included non-bank financial… Read More

September 17, 2020 @ 9:11 pm By Omar Faridi  |  

India-based PhonePe, a major digital payments platform, has teamed up with the Brihanmumbai Electricity Supply and Transport (BEST) in order to offer a frictionless, contactless, safe, and secure payment option to commuters in Mumbai, which is a major financial center and one of the country’s… Read More

September 2, 2020 @ 11:48 pm By Omar Faridi  |  

Sameer Nawani, Chief Representative of the Dubai Chamber’s International Office in Mumbai, has noted that the digitization and ongoing growth in technology will lead to significant changes in financial and healthcare services. Nawani, whose comments came during a recent webinar about the impact of COVID-19… Read More

July 21, 2020 @ 8:49 pm By Omar Faridi  |  

Policybazaar, a digital insurance platform, is reportedly planning to conduct an initial public offering (IPO) next year at a valuation of more than $3.5 billion. If it’s successful, then it might potentially become the first of India’s major startups to carry out such a large… Read More

June 27, 2020 @ 3:09 pm By Omar Faridi  |  

Rupeek, an Indian online gold loan company, has introduced RupeekZ, a “zero contact” gold loan kiosk, in order to safely issue gold loans, following the COVID-19 outbreak and resulting economic challenges. The Fintech firm says it aims to eliminate human touch during transactions to prevent… Read More

June 17, 2020 @ 7:31 pm By Omar Faridi  |  

Mumbai based online lender InCred has reportedly acquired Fintech platform Qbera. The acquisition has come as India struggles to cope with the COVID-19 outbreak and associated challenges. InCred and Qbera haven’t disclosed the amount paid for the transaction, however, sources claim the deal may be… Read More

May 29, 2020 @ 12:22 am By Omar Faridi  |  

Indian Fintech U GRO Capital, an online lending platform for SMEs, has teamed up with Global Value Creation Partners (GVCP), in order to provide better financing services to small businesses. GVCP has appointed two expert advisors, Vincent Polizatto and William Haworth, to the U GRO… Read More

May 27, 2020 @ 10:03 pm By Omar Faridi  |  

Mumbai-based Home Capital, a Fintech firm focused on supporting housing initiatives for younger people, has acquired seed funding via a round led by the Varanium NextGen Fund. Shalin Shah, Singapore Angel Network, JITO Incubation and Innovation Foundation, Venture Catalysts, and Venture Gurukool also took part… Read More

May 19, 2020 @ 7:08 am By Omar Faridi  |  

Mumbai-based Fintech firm Fintso, which aims to “democratize” wealth management in India, is arguing that debt securities can be more volatile than equity. Recently established in December 2019, Fintso secured $2.6 million in funding in March 2020. Fintso’s management says that debt securities have previously… Read More

April 30, 2020 @ 10:38 pm By Omar Faridi  |  

Mumbai-based Fintech firm NIRA, which provides small-ticket loans to low-income workers via its mobile-based app and website, recently revealed that it has secured $2.1 million in funding through its pre-series A investment round. NIRA’s funding round included contributions from new and existing angel investors based… Read More

April 27, 2020 @ 2:27 am By Omar Faridi  |  

  India-based Tata Consultancy Services Ltd. (TCS), the country’s largest multinational information technology (IT) service and consulting firm, confirmed recently that it will launch the very first all-digital bank in Israel. As previously reported, Tata’s neobank project aims to transform existing business and banking processes…. Read More

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