Annapurna Finance, a microlender, revealed on Tuesday that it has raised USD 30 million in a new investment round headed by Nuveen Global Impact Strategy, an impact investor. According to an official release, the financing would enable it extend its credit portfolio to include women borrowers under the joint liability group and self-help group models. … Read more
Artha Venture Fund (AVF), India’s first early-stage micro-VC fund, led a seed round of 1.75 crores in StarClinch today. Nitish Mittersain, the Founder and CEO of Nazara Technologies, also took part in the round. From AVF’s recently closed 225 crores micro-VC fund, StarClinch is the 14th investment and 23rd funding round. StarClinch, which was founded … Read more
In a Series F round of funding, SK Finance, a Jaipur-based NBFC, raised Rs 400 crore (about $53 million) from IIFL Wealth and other new investors. TPG Growth, Norwest Venture Partners, Baring India, and Evolvence India Fund are among the investors in Ess Kay Fincorp, which was founded in 1994 and originally known as Ess … Read more
Ripplr, a tech-enabled distribution and logistics ecosystem platform, has announced a pre-Series B round of funding of $ 12 million. The round included equity and debt investments from Sojitz Corporation and Stride Ventures, as well as existing investors 3one4 Capital, Zephyr Peacock India Growth Fund, and Chand Family Office – Yukti, as well as eminent early- stage angel investors Vivek and Abhay (Licious founders), Aniketh & Ashish (Solution Infini (now Kaleyra) founders). Speaking on … Read more
Paisagrowth, a fintech business, announced today that it has acquired $250,000 in initial funding from GSF, a leading startup accelerator, and other investors. Anurag Tiwari, a former Business Development Manager at Loansimple, Aabhas Tripathi, a former top Strategy Executive at Fitso, and Abhishek Sharma, a former Vice President of Engineering at Loansimple, founded the company … Read more
India’s homegrown Paytm Payments Bank and MoneyGram International, Inc. (NASDAQ: MGI), the global leader in the evolution of digital P2P payments, today announced a partnership to enable MoneyGram customers globally to send money in real-time to a Paytm Wallet user in India. This is an important milestone in the digitization of the Global Receive Network. With this … Read more
Mastercard and Google today announced the rollout of tokenization that will enable Google Pay users to safely transact using their Mastercard credit and debit cards while enjoying a hassle-free experience. Through tokenization, Mastercard cardholders can make payments through a secure digital token without having to share their credit or debit card details such as card number, expiry … Read more
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
