N.S. Venkatesh, the highly respected financial professional who led the Association of Mutual Funds in India (AMFI) as its CEO from 2017 to 2023, is now taking on a new role in his illustrious career. He has been appointed as the Chairman of Athachi Finserv, a bespoke investment services organization offering comprehensive long-term wealth creation … Read more
Capital Small Finance Bank (CSFB), India’s first small finance bank, has joined forces with ICICI Lombard, a leading private general insurance company, in a strategic Bancassurance Corporate Agency tie-up. This collaboration marks a significant milestone for CSFB’s growth strategy, aiming to widen its product offerings and provide a more diverse range of general insurance solutions … Read more
Balancehero India, the driving force behind one of India’s leading digital lending apps, TrueBalance, recently appointed Sayantan Ghosh, an alumnus of the Indian Statistical Institute, as its Head of Credit Risk Management & Data Science. Before joining Balancehero India, Sayantan had a stint with Statsfin and held various leadership positions at American Express. During his … Read more
BankBazaar has emerged as the highest-funded startup in April, securing $9.6 million in investments. The fintech sector in India attracted $29 million in April, bringing the total investments in CY2024 to $203 million, according to data compiled by BFSI consulting firm The Digital Fifth. A significant portion of this funding was directed towards companies specializing … Read more
Mahindra & Mahindra Financial Services Limited (“Mahindra Finance”), part of the Mahindra Group and one of India’s leading Non-Banking Finance Companies, has announced the acquisition of a Certificate of Registration from the Insurance Regulatory and Development Authority of India (IRDAI). This Corporate Agency License allows Mahindra Finance to act as a ‘Corporate Agent (Composite)’ under … Read more
Moneyboxx Finance, an impact lender specializing in small business loans for micro-entrepreneurs, reported a significant turnaround in profitability for FY24. The company achieved a net profit of INR 9.14 crore, a stark contrast to the net loss of INR 6.80 crore in FY23. Moneyboxx experienced a remarkable 112% growth in Assets Under Management (AUM), reaching … Read more
Kinara Capital, a leading fintech driving MSME financial inclusion in India, has announced its financial year 2024 results, marking the organization’s ninth consecutive year of profitability. Closing the fiscal year with a profit after tax (PAT) of INR 62 crores, a remarkable 51% year-over-year (YoY) increase, highlights the success of Kinara’s unique business model, blending … Read more
ET Money, has become a top player in the country’s rapidly expanding online wealth management market by focusing on long-term wealth accumulation for affluent Indians. This strategic choice has allowed them to avoid the allure of short-term stock trading. As of March 31, the platform helped its users manage INR 63,000 crore (approximately $8 billion) … Read more
Caret Capital, a sustainability fund that invests across Mobility, Distribution and Employment, has invested in Delhi-based startup TraqCheck. Founded in November 2020 by Armaan Mehta, Jaibir Nihal Singh and Rishabh Jain, TraqCheck is an AI-based platform for employee background verification. It enables enterprises to onboard employees significantly faster and more accurately at a lower cost than traditional methods. “From the … Read more
Citigroup Inc has announced a new round of job cuts in its US investment banking division as part of its ongoing restructuring efforts. According to documents filed with the New York State Department of Labour on April 1, the company plans to terminate 430 employees. These job reductions are expected to primarily impact employees in … Read more
Infidigit, a leader in the organic growth space in India, is poised to accelerate its growth trajectory with the appointment of Kiran Washindkar as Co-Founder & SVP of Growth. In his new role, Kiran will continue to play a pivotal role in furthering organic growth for premium clients with a futuristic approach to integrating AI … Read more
HMD Global, the home of Nokia phones, is thrilled to announce the appointment of Tanuj Patro as its Chief Financial Officer (CFO) of the company, a strategic move that reflects the company’s commitment to top-tier leadership and its relentless pursuit of excellence in the mobile technology industry. With an illustrious career spanning over two decades … Read more
SaaS FinTech Zaggle headquartered in Hyderabad, continues to make strides in the financial realm as it secures a substantial Rs 25 crore investment from ValueQuest Scale Fund in a pre-IPO round. This recent infusion of funds is a noteworthy addition to the Rs 73 crore garnered by the company through a pre-IPO placement just last … Read more
M2P Fintech, Asia’s largest API infrastructure company announced the appointment of Mayank Kapoor as its Global Head – People Success (Human Resources). In this role, Mayank will be responsible for driving the company’s human resources strategies, fostering a culture of growth and innovation, and ensuring the success and well-being of 1300+ M2Peers spread across 20+ … Read more
InsurTech startup Square Insurance, headquartered in Jaipur, has successfully secured $1 million (approximately Rs 8.3 crore) in a funding round spearheaded by Recur Club. This platform serves as a marketplace for companies with recurring revenue models to trade contracts and subscriptions. The newfound capital injection will play a pivotal role in Square Insurance’s expansion strategy. … Read more
In a Seed Round of funding, Bizpay has secured an undisclosed sum, with Inflection Point Ventures taking the lead. The allocation of the funds will see 20% directed towards product development, 60% towards marketing efforts, and the remaining 20% dedicated to other essential purposes. Bizpay presents a prepaid card solution that is seamlessly integrated with … Read more
