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
Poonawalla Fincorp Limited (PFL), a non-deposit taking systemically important NBFC, focusing on consumer and MSME finance, today announces the appointment of Kumar Gaurav as Chief Marketing Officer. In his new role, Kumar will lead the Marketing, Brand, Corporate Communications, Public Relations, Digital Marketing and will be responsible for developing brand campaigns to enhance company’s brand … Read more
Credgenics, a prominent player in the realm of SaaS-based debt collections platforms, is embarking on a substantial growth journey as it secures a substantial $50 million in a series B funding round. This pivotal funding effort is being led by its existing investors, Westbridge Capital and Accel, showcasing their continued confidence in the company’s potential. … Read more
India’s first Fixed-Return Investment Platform, Stable Money, raised $5 Million in a seed round led by Matrix Partners India and Lightspeed, with participation from Titan Capital, Mar Shot Ventures, and prominent angel investors. The funds will be used to bolster senior leadership hiring, forge financial partnerships, build technology, and develop a user-friendly mobile app for … Read more
Moneyboxx Finance Limited (Moneyboxx), a BSE-listed NBFC, which drives financial inclusion by providing business loans to micro entrepreneurs in Tier-III towns & below places, crossed milestones of INR 400 crores AUM#in July 2023. The Company added 11 branches in the current financial year so far, expanding its branch network to 72 branches across six states as of 31st July 2023. With the addition of 4 new lenders in … Read more
