Entreprenuernewsnetwork

Facebook Twitter Instagram Linkedin
Menu
Menu
Menu

FINTECH

BillMart and EQARO Join Forces to Revolutionize MSME Lending and Trade Finance in India

by

India’s fast-evolving trade finance and MSME lending landscape has received a significant boost as BillMart, a leading digital lending platform, partners with EQARO Guarantees to transform business financing. With expertise in MSME lending, bill discounting, supply chain finance, and working capital solutions, BillMart is set to integrate EQARO’s trusted credit and financial risk guarantee solutions … Read more

QuiD Cash Raises $4.5 Million to Revolutionize Supply Chain Financing

by

Bangalore-based B2B supply chain digital lending platform, QuiD Cash, has announced raising USD 4.5 million in a funding round comprising equity and lending capital. The funding round saw participation from new investors, with MINTCAP, an existing investor, reaffirming its support. This funding follows the seed round raised in March 2024 and marks a significant step … Read more

FinX Secures $6 Million Seed Funding to Bridge India’s Education-Employability Gap

by

FinX, a skilling platform focused on equipping India’s BFSI (Banking, Financial Services, and Insurance) sector with job-ready talent, has raised $6 million in seed funding from Elevar Equity. Addressing India’s Employability Challenge India faces a significant gap between formal education and market-ready skills. According to the India Skills Report 2024, more than 50% of Indian … Read more

OneCard Secures ₹239.4 Crore Funding from Better Tomorrow Ventures, Peak XV, and Z47

by

Mobile-first credit card startup OneCard is set to raise ₹239.4 crore ($28.5 million) from prominent investors, including Better Tomorrow Ventures, Peak XV Partners (formerly Sequoia Capital), and Z47 (formerly Matrix Partners). This marks the company’s first equity investment of 2024, following a debt funding round earlier in January. Key Details of the Funding Round According … Read more

CredFlow Raises $3.7M Pre-Series B Funding to Scale Fintech Solutions for SMEs

by

Delhi-based fintech startup CredFlow has successfully raised $3.7 million (₹31.2 crore) in its latest Pre-Series B funding round. The round was led by existing investors Inflexor Ventures and a prominent Singapore-based family office. This funding will be directed towards scaling CredFlow’s financial services and lending verticals, enhancing its technology, and driving innovation. This follows the … Read more

Financial Veteran N.S. Venkatesh Joins Athachi Finserv as Chairman

by

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

ICICI Lombard and Capital Small Finance Bank announces Corporate Agency Alliance

by
Sarvjit Singh and Birendra Mohanty (from left to right)

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 named Former American Express executive Sayantan Ghosh as Head of Credit Risk

by

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 Secures Top Spot in April with $9.6 Million Funding

by

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 Finance Expands Insurance Offerings with New IRDAI License

by

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 Achieves Strong Turnaround with INR 9.14 Crore Net Profit in FY24

by

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 Reports Ninth Consecutive Year of Profitability, Achieving Record Growth in FY24

by

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 Tops ₹60,000 Crore in Assets, Becomes India’s Largest Advisory Wealth Management firm

by

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 and Peyush Bansal Backs TraqCheck for Transforming Background Verification with AI

by

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 announces new round of job cuts

by

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 Named Kiran Washindkar as the Co-Founder

by

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