Gullak. Money, a Bengaluru-based savings and investment app, has raised $1.3 million in a pre-seed round led by Better Capital and Stellaris Venture Partners. Gullak, which was founded in January 2022 by former JusPay executives Manthan Shah and Dilip Jain, as well as Naimisha Rao, allows customers to save tiny sums of money on a … Read more
Kissht, a consumer financing platform, raised $80 million in a new round headed by Vertex Growth and the Brunei Investment Agency. The financing included existing investors Vertex Ventures SEA India and Endiya Partners. \ Kissht was founded in 2015 to give new to credit customers with a quick line of credit for small business transactions … Read more
FlexiLoans, an online lending platform for small businesses, has secured $90 million in a Series B funding round that includes a mix of equity and debt. MAJ Invest of Denmark led the $28 million equity round, while Fasanara Capital of the United Kingdom led portions of the equity and debt rounds. FlexiLoans is a digital … Read more
PayU, today, announced the appointment of three senior leaders – Narendra Babu as the Chief Technology Officer for the India Payments business; Mohit Bedi, as the Senior Vice President (SVP), to lead strategic initiatives and the Bill Payments business, and Vineet Sethi, as SVP to lead PayU’s Diversified Financial Services portfolio. PayU’s existing senior executive, Mohit Gopal will take on a new position … Read more
PhonePe, India’s leading digital payments company, in collaboration with Boston Consulting Group (BCG), today unveiled a report titled, “Digital payments in India: A $10 trillion opportunity”. The report leverages BCG’s industry expertise in payments and the fintech domain, along with PhonePe’s deep insights and expertise as the market leader in Indian digital payments and its extensive Pulse database to look at … Read more
Cashfree Payments, a leading payments and API banking solutions company, today announced that it has partnered with National Payments Corporation of India (NPCI) to provide tokenization solutions on RuPay cards for its merchants. Cashfree Payments’ tokenization solution ‘Token Vault’ helps merchants to provide their customers the option to save cards on the merchant website or … Read more
Slice, a fintech business, announced on Wednesday that it has secured $50 million in a larger series C round led by Tiger Global, which it will use to expand its new unified payments interface (UPI) platform. Moore Strategic Ventures and Insight Partners, as well as a new investor, GMO VenturePartners, participated in the newest investment … Read more
NAKAD, a supply-chain-focused finance firm, announced on Wednesday that it has secured $7 million in a seed round led by Accel and Matrix Partners India, with AdvantEdge Founders participating. The Delhi-based firm, which provides working finance to India’s supply chain micro, small, and medium enterprises (MSME), said it will utilise the funding to expand its … Read more
TWU, a worldwide finance startup specialising in electric vehicle financing, has raised $10 million in a Series A round led by Delta Corp Holdings. Delta Corp Holdings is leading the newest funding round, which includes participation from existing investor Techstars. Investors from the Middle East, Europe, and Grip Invest also took part in the round. … Read more
Neobanking platform Stashfin has made a key addition to its leadership team, with Anirudh Dhakar joining as Vice President, Co-lending. Prior to Stashfin, Dhakar was associated with Northern Arc Capital and is an accomplished professional in the financial sector. He has a proven track record, having conducted due diligence of more than 30 fintech entities … Read more
Avinash Gaikwad has been named Chief Strategy Officer of Bimaplan, a Y Combinator-backed new-age insurtech platform that makes affordable insurance plans available to everyone. The new appointment is being made with the goal of strengthening Bimaplan’s core team and advancing the company’s ambition of insuring 10 million lives by 2025. Avinash was previously the practise … Read more
Bengaluru headquartered fintech platform Money View turns profitable and ends FY22 (March’22) with an annualized revenue run rate of INR 600 Cr ($80 million). Money View has grown 4X year-over-year with strong unit economics while being profitable through FY22. The company is disbursing loans at an annualized run rate of $850 million and is on a trajectory … Read more
BharatX, a Y-Combinator-backed startup, has raised $4.5 million in a seed round from Y Combinator, 8i Ventures, Multiply Ventures, Soma Capital, and other investors to enable integrated credit in India. Java Capital, an existing investor, also took part in the round. BharatX, founded in 2019 by Jindal, Eeshan Sharma, and Shyam Murugan, offers integrated credit … Read more
Vidit Aatrey, cofounder and CEO of Meesho, has been appointed as an independent director on the board of Navi Technologies, which is preparing to go public. The appointment will take effect on April 9 if all processes are completed. Navi Technologies now has four independent directors on its board, thanks to Vidit Aatrey’s appointment. Abhijit … Read more
As part of its Series C round, non-bank lender Vivriti Capital Pvt. Ltd raised an extra $30 million (about Rs 228 crore) from TVS Shriram Growth Fund 3. Vivriti Finance, which provides debt capital to SMEs in India, most recently secured a Series B investment from Lightrock in two tranches, with $100 million in March … Read more
Through its relationship with Saifee hospital, a prominent multi-specialty healthcare facility in Mumbai, Affordplan, a healthcare finance company, has reached the western area of India. Affordplan is one step closer to accomplishing its aim of making healthcare finance reasonable, accessible, and convenient with this agreement. In northern and southern India, they already have a formidable … Read more
