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FINTECH

PayU India’s New Climate Finance Mechanism Powers Rural Financial Inclusion, Slashing Electricity Emissions

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PayU has demonstrated its commitment to sustainability and financial inclusion in India by procuring Distributed Renewable Energy Certificates (D-RECs) from impactful solar projects that provide electricity to rural banks. This move aligns with the growing momentum for corporate climate action and a just transition. D-RECs are an innovative climate finance tool that accelerates the energy … Read more

Volt Money Raises $1.5 Million In Pre-seed Funding Led By Titan Capital And All In Capital

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Volt Co-Founders

Volt Money, a leading platform for instant secured loans against mutual funds, has successfully completed a pre-seed fundraising round of $1.5 million. The platform enables mutual fund investors to access cash within 10 minutes, offering favorable terms such as low interest rates, interest-only EMIs, and no pre-payment charges. With the aim of serving 10 crore … Read more

TankhaPay secures $2.7 million funding from Japanese investors

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TankhaPay, India’s pioneering social security app developed by Akal Information Systems Ltd., secures a substantial $2.7 million funding from prominent Japanese investors. This app addresses the crucial need for social security among informal, gig, and temporary workers by facilitating their inclusion in government schemes such as PF and ESI. TankhaPay formalizes payroll processes, ensuring the … Read more

Inclusive Finance Startup Navadhan Raises $1.5 Mn In funding

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Navadhan Capital, a Mumbai-based fintech startup, has successfully raised $1.5 million in a seed funding round. The funding was led by Varanium NexGen, a fintech-focused fund, and included participation from existing investor Anicut Capital. Gemba Capital also contributed to the funding, as stated in a press release via BusinessWire. Navadhan Capital adopts a digital-first approach … Read more

TransBnk, a fintech startup aiming to revolutionize transaction banking in India, secures $1 million in seed funding from 8i Ventures

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Mumbai-based fintech startup, TransBnk, has successfully raised $1 million in seed funding. The funding round was led by 8i Ventures, a prominent early-stage venture capital fund known for its successful investments in the fintech sector, including M2P, Slice, and Easebuzz. Other contributors to the funding round include Growthcap Ventures, Leadway Ventures LLP, Growth Sense, as … Read more

With ICICI Lombard General Insurance, Neobank Qbook offers climate risk insurance to Indian shop owners and merchants

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Chqbook, India’s first neobank for small business owners, has launched a specially designed “Shop Insurance Cover” for its Digital Current Account customers. This insurance solution has been designed and launched in association with ICICI Lombard one of India’s leading general insurance companies. Under this insurance, losses incurred by shop owners due to floods, earthquakes, lightening, … Read more

Maanaveeya (Oikocredit) provides Moneyboxx with a term loan worth INR 20 crores

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Moneyboxx Finance Limited, a BSE-listed NBFC that focuses on impact financing by providing business loans to micro entrepreneurs in Tier-III cities and below, secured INR 20 crores term loan from Maanaveeya Development & Finance Private Limited (Maanaveeya), an Indian subsidiary of Oikocredit, a 40-year-old Global Development Financing Institution that responds to the needs of businesses … Read more

Finsire, a fintech startup based in Chennai, raises $1.3 million in seed funding

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Finsire, a Fintech company specialising in lending infrastructure and asset collateralization API, reported that it has received $1.3M in seed funding from strategic investors. Finsire builds lending enablement services by permitting digital assets to be taken as collateral. The solution allows Banks, NBFCs, fintechs, credit requirement distribution, and depositaries to maximise their lending capabilities. The … Read more

EPS named Industry Veteran Ram Rastogi as an Additional Director

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Electronic Payment and Services Pvt. Ltd. (EPS), a leading provider of payment technology services in India, has announced the appointment of Mr. Ram Rastogi as an Additional Director in its wholly owned subsidiary, Finiverse Aggregator Pvt. Ltd. Mr. Rastogi, who has over four decades of experience in building payment systems, including IMPS, UPI, and AePS, … Read more

Fullerton India Reports Rs. 551 Crore Profit in Third Quarter of FY23

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Fullerton India Credit Company Limited, one of the leading NBFCs in the country, reported a profit of Rs 551 crores for the third quarter of FY23. Total Disbursals stood at Rs 19,500 crores, a jump of 41% companies to the corresponding quarter last year. The growth story has been inked under the leadership of Mr … Read more

Financepeer becomes LEO1; unveils new brand identity and logo

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Edu-fintech startup, Financepeer has unveiled its new brand identity “LEO1”. The new identity reflects the company’s transformation from a Fee Financer to an Education enabler. “This transformation to ‘LEO1’ with a distinctive visual brand identity is a step towards becoming a stronger, pioneering, and more independent entity marking a pan-India presence. Through the rebranding, the … Read more

Clix Capital targets INR100cr profit in FY24

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Clix Capital Services Pvt Ltd (‘Clix Capital’) – one of India’s leading non-banking financial services companies, under a new leadership has made huge strides in turning around its business this year.  Challenged by COVID and the associated lock-downs, several NBFCs and lending institutions struggled to manage growth and asset quality, and Clix was no different.  However, over … Read more

Under its incubator program, LenDenClub will invest in six fintech startups

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LenDenClub Aplha, the corporate venture capital arm of the peer-to-peer (P2P) lending platform, has welcomed six fintech startups to its Bharat FinTech Program startup incubator. Only six firms were chosen out of more than 150 applicants; these are Finswealth, FlashPay, P2P Bazaar, FinPlay, Upmarket India, and Filit. After the incubation programme is through, the chosen … Read more

Credit Fair named Vikas Agarwal as Co-Founder and CBO

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Vikas Agarwal has been named co-founder and chief business officer of Credit Fair, a consumer lending fin-tech start-up. He will oversee Supply of Capital activities in this new position, including collaborations with Independent Financial Advisers and Co-lending Partners. In order to speed up Credit Fair’s business growth, he will also oversee the establishment of strategic … Read more

Enigmatic Smile Announces Strategic Partnership with Pine Labs

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Enigmatic Smile is a Reward Technology Provider, focussed on linking high value rewards to consumers’ payment cards. It works seamlessly, and invisibly, in the background of existing reward programmes, re-directing billions of consumers spend to retailers in its network. On the flip side, Enigmatic Smile acts as a technology bridge for retailers to reach the consolidated … Read more

Simpl named Ashwini Ravindranath as the Vice President of its Partner Success Team

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Simpl, India’s foremost 1-tap checkout network, today announced the appointment of Ashwini Ravindranath as Vice President of the Partner Success team. Ashwini will lead the team to build strong relationships with Simpl’s merchant network and own the P&L of the Pay Later business of the organisation. With this strategic hire, Simpl aims to help its … Read more