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
Cashfree Payments (Cashfree), a leading payments and API banking solutions firm, made a $15 million equity investment in Telr, a major Payment Service Provider (PSP) in the UAE and Saudi Arabia. Cashfree becomes one of the company’s largest shareholders as a result of this transaction. Telr, an award-winning payment gateway solutions provider based in the … Read more
Slice, a Bengaluru-based financial firm, is the latest unicorn to join the club, with a five-fold increase in valuation to $1 billion in just six months. In a Series B round headed by New York-based investment companies Tiger Global and Insight Partners, the startup, which distributes credit cards targeted towards young professionals, raised $220 million. … Read more
Drona Pay, a Mumbai-based SaaS solution, has raised $500K in a seed round led by Varanium Capital, Credit Saison, and fintech experts Kunal Shah, Jitendra Gupta, Amrish Rau, and others. Drona Pay, founded in 2021 by Satish Kashyap, Pallavi Narvekar, and Sukhdev Sinh Zala, provides real-time protection for financial institutions using ml and proprietary data … Read more
Kinara Capital, a fast-growing fintech, recently launched myKinara mobile app that comes with a simple 3-step process and is a first-of-its-kind in the unsecured MSME business lending space. myKinara app, now live on the Google Play Store, puts the power at the fingertips of small business entrepreneurs to securely apply and receive collateral-free business loans … Read more
India’s leading digital ecosystem for consumers and merchants (1) Paytm today announced that its wholly-owned subsidiary Paytm Money has launched ‘Margin Pledge’ feature. The feature will allow users to pledge their existing stocks and ETFs in return for a collateral margin that can be used for trading in stocks, ETFs, futures, and options. Investors holding … Read more
True Credits, an NBFC and an affiliate of True Balance, an RBI-authorized lending firm, was founded by Balancehero India Private Limited, a wholly-owned subsidiary of Balancehero Co Ltd Korea, and launched a $30 million debt financing on Tuesday. In FY2021, the third round brought the total debt raised to $55 million. Northern Arc, Arthmate, Shine … Read more
Recordent, a non-banking payment bureau fintech business, has raised $400,000 in angel finance from the Kantamaneni Family Office, IIM Calcutta Innovation Park, and other angel investors from India and the United States. Recordent works closely with more than 50 SME industry associations and wants to continue forming significant collaborations in order to offer value to … Read more
Altum Credo, a housing finance company, has acquired a fresh equity investment from Amicus Capital, a growth fund, worth Rs 50 crore ($6.7 million). Existing investors Aavishkaar Capital and PS Pai and family contributed Rs 19 crore ($2.5 million) each, bringing the total round size to Rs 88 crore ($12 million). Altum was founded by … Read more
CARS24, India’s leading e-commerce platform for pre-owned vehicles and Poonawalla Fincorp Ltd (Formerly known as Magma Fincorp Limited), a non-deposit taking systemically important non-banking finance Company (ND-SI-NBFC), have announced their strategic partnership for quick and seamless consumer financing on vehicles bought from CARS24. In this partnership, Poonawalla Fincorp Ltd will fulfill consumer loans originating through … Read more
