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FINTECH

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

BharatPe bolsters team; appoints CISO, Head- Internal Audit and Head- Compliance

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BharatPe, India’s leading fintech company, today announced three key appointments in line with its commitment towards building an organization with high levels of corporate governance, compliance and data security. The company announced the appointment of Ambuj Bhalla as its Chief Information Security Officer (CISO). A respected name in the information security and cyber security domain, Ambuj … Read more

mPokket turns 7, empowering and extending credit to the underserved youth of India

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Launched in 2016, India’s youngest and fastest-growing lending platform, completes its 7 years of operation. Since its inception, within a very short period of time, the lending platform has disbursed loans amounting to INR 7000 crore to date. The company disbursed INR 3500 crore in 2022 and plans to double its originations in 2023. The business has … Read more

Innoviti named former Visa Leader, Himanshu Sharma as SVP, Issuing Bank Relationship

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Innoviti Technologies (formerly, Innoviti Payment Solutions), India’s largest collaborative commerce platform, has appointed Himanshu Sharma as Sr. Vice President of Issuing Bank Relationship. Sharma will be reporting to the CBO, Amrita Malik and will be based out of Mumbai. He will enhance Innoviti’s existing relationship with banks and contribute to new business initiatives. Sharma brings 17 years of experience in … Read more

Sharath Pareddy named as the India Head of Credit and Analytics at Branch International

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Branch International, a San Francisco-head based fintech with operations across Nigeria, Kenya, Tanzania, and India, has announced the appointment of Sharath Pareddy as the Head of Credit and Analytics – India effective immediately. A graduate from IIT Kharagpur, Sharath has been working in the analytics and data science space across industries for over 12 years … Read more

Fintech Start-up BankSathi Raises USD 4M as Pre-series A Round

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Bangalore based social commerce platform BankSathi has raised $4M USD in funding from Kotak Securities, Lets Venture, We Founder Circle, Hem Securities and IPV (Inflection Point Ventures). The company has also received funding from Recur Club, Liquiloans, Sunil Singhania (Abakkus), Kunal Shah (CRED), Dr. Ritesh Malik (Innov8), Kailash Biyani (Asian Markets), Mukul Rastogi & Bhaswat Agarwal (ClassPlus), … Read more