ETMONEY presents the SIP Insights Report 2021, which looks at a 5-year trend analysis of investor behaviour towards SIPs in India, after passing the milestone of processing over 1 million SIPs each month. According to the research, India’s smaller cities are now leading the charge, with 64 percent of SIP inflows coming from outside of … Read more
Razorpay, a fintech company founded by Lone Pine Capital, Alkeon Capital, and TCV, has secured $375 million in a Series F round led by Lone Pine Capital, Alkeon Capital, and TCV, and plans to extend its B2B payments business to Malaysia, Vietnam, Indonesia, and the Philippines by next year. Existing investors such as Tiger Global, … Read more
Liberty General Insurance, one of the fastest growing General Insurance companies in India today entered into a partnership with CSC e-Governance Services India under the Ministry of Electronics and Information Technology (MeitY), Government of India. Through this agreement Liberty will further strengthen its presence in rural areas across India by selling its insurance products through the CSC network. Initially, the company … Read more
India’s leading digital ecosystem for consumers and merchants Paytm (owned by One97 Communications Limited) today announced the launch of Paytm Wealth Academy, a first of its kind tech-powered educational platform. The launch of the wealth academy is initially on the Paytm Money app, the wealth management app owned by Paytm’s wholly-owned subsidiary Paytm Money. The … Read more
Pulkit Saboo has joined FloBiz as Director of Marketing. FloBiz is a leading fintech firm and neobank for rising Indian SMBs. Pulkit has extensive marketing experience, having previously worked for Ola for India and foreign markets, Aditya Birla Fashion & Retail, and SABMiller. Pulkit began his career as a software developer at Infosys with over … Read more
Metro Brands Ltd, a footwear retailer backed by ace investor Rakesh Jhunjhunwala, announced on Thursday that it has raised a little over Rs 410 crore from anchor investors ahead of its IPO on Friday. According to a BSE circular, the company has allotted 82.05 lakh equity shares to anchor investors at Rs 500 each, bringing … Read more
The Reserve Bank of India (RBI) has approved Paytm Payments Bank to operate as a scheduled payments bank, the company announced on Thursday, allowing it to extend its financial services operations. Paytm Payments, as a scheduled payments bank, can participate in government and company RFPs, main auctions, fixed-rate and variable-rate repos, and reverse repos, as … Read more
Cashfree Payments (Cashfree), a leading payments and API banking solutions firm, today announced its relationship with SonyLIV as the payments partner for the first season of “Shark Tank India.” Shark Tank is a 20-year-old international television show that has resurrected start-ups in 40 nations and is regarded as the world’s most popular business reality show. … Read more
Probus Insurance, a Mumbai-based insurtech company, has raised $6.7 million in a fundraising round headed by BlueOrchard Impact Investment Managers of Switzerland. Probus, which began as a typical insurance brokerage firm in 2003 and has now evolved into a tech-enabled platform, has built a strong framework and ecosystem in the online retail distribution arena. Probus … Read more
LoanKuber, a digital-first mortgage platform, has raised Rs 13 crore (about $1.7 million) in a pre-Series A funding round led by LetsVenture and Inflection Point Ventures, a Gurugram-based angel investing platform. Other investors took part in the round as well. LoanKuber has previously secured $1.25 million in a pre-Series A financing led by LetsVenture, Accolade … Read more
PayPhi, Phi Commerce’s API-first digital payments platform has become the first certified tokenization service for NPCI Tokenization System (NTS) that supports the tokenization of RuPay cards. To further enhance the safety of online transactions, RBI has issued a set of guidelines to store sensitive customer information in the form of encrypted ‘token’. To comply with … Read more
8i Ventures, based in Mumbai, has secured $50 million for its Fund II, with the goal of investing in fintech firms since the creator believes that “every customer friction point in finance and consumer represents a billion-dollar startup opportunity.” In 2020, the early-stage investment firm will raise its first fund of $13 million. 8i Ventures, … Read more
MoneyGram International, Inc., a global leader in the evolution of digital P2P payments, today announced its partnership with urpay to enable cross-border money transfers. urpay is a digital wallet powered by neoleap, the Saudi-based financial global digital solutions company with a mission to create the most powerful yet simple fintech solutions. The partnership enables urpay … Read more
Capital Trust Limited (Capital Trust), a digitally enabled non-banking finance company (NBFC), specialising in providing income–generating micro business loans in tier 3-5 regions, recently enhanced its branch network by opening 71 New branches. Out of these, 20 New branches were opened in Eastern UP; 21 in Bihar; 13 in Jharkhand; 11 in Madhya Pradesh and … Read more
Simpl, a cardless payment network with embedded 1-Tap Checkout, Buy Now Pay Later and Buyer Protection, has raised a $40M Series B round led by Valar Ventures & IA Ventures with participation from LFH Ventures and other internal investors. This investment brings the total capital raised by the company to $83M. With Simpl, online merchants … Read more
In the current environment, there is a need to drive digitised trade for Corporate customers to reduce processing turnaround time and drive businesses efficiently. In light of the latent need, DBS India has introduced a paperless proposition for the financing of domestic invoices by buyers and sellers. The bank now digitally validates the e-Way Bill … Read more
