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
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
Moneyboxx Finance Limited- a BSE-listed NBFC that provides small-ticket business loans to micro entrepreneurs in Tier-III cities and below, secured INR 50 crores term loan from SBI for a period of 4 years. The company will utilize the funds for onward lending to the micro-entrepreneurs in the agricultural and allied sectors. This loan from SBI, along with … Read more
TerraPay, a leading global payments infrastructure group today announced its partnership with NPCI International Payments Limited (NIPL), the International arm of National Payments Corporation of India (NPCI). This association with NIPL will allow Indian customers and merchants in India with an active Unified Payments Interface Id (UPI Id) to make and accept cross-border payments seamlessly by leveraging TerraPay’s … Read more
M2P Fintech, one of Asia’s leading API infrastructure provider led the USD 2.50 million funding round for the Account aggregator platform Finvu. Varanium Nexgen Fund, IIFL and DMI Sparkle Fund also participated in the round. Founded in 2017, Finvu is a registered and licensed NBFC Account Aggregator (NBFC-AA) from the Reserve Bank of India (RBI) … Read more
Arya.ag, India’s largest and fastest-growing integrated grain commerce platform, today announced crossing the distinct milestone of reaching the INR 500 crore book outstanding on its embedded fintech platform, Aryadhan. This feat is propelled by Arya.ag’s indigenously built digital capabilities, which have been customised for simplified and optimum use by smallholder farmers and farmer producer organisations (FPOs). With … 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
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
Steadview Capital, Tiger Global, and Dragoneer Investment Group led a $75 million Series D round of funding for wealth management platform INDmoney. INDMoney, which launched in 2019, offers users to keep track of their finances on a single platform and invest in a variety of financial instruments including as mutual funds, fixed deposits, equities, and … Read more
According to papers with the Registrar of Companies, Mumbai-based fintech Jupiter has raised $86.6 million in a Series C round of funding headed by New York-based hedge fund Tiger Global, Sequoia Capital, and Virgina-based QED Investors (RoC). Jupiter is a customer-facing neobank founded in 2019 by serial entrepreneur and CitrusPay creator Jitendra Gupta. It offers … Read more
Annapurna Finance, a microlender, revealed on Tuesday that it has raised USD 30 million in a new investment round headed by Nuveen Global Impact Strategy, an impact investor. According to an official release, the financing would enable it extend its credit portfolio to include women borrowers under the joint liability group and self-help group models. … Read more
CARS24, India’s leading e-commerce platform for pre-owned vehicles and Poonawalla Fincorp Ltd (Formerly known as Magma Fincorp Limited), a non-deposit taking systemically important non-banking finance Company (ND-SI-NBFC), have announced their strategic partnership for quick and seamless consumer financing on vehicles bought from CARS24. In this partnership, Poonawalla Fincorp Ltd will fulfill consumer loans originating through … Read more
Branch, one of the most popular personal finance applications, has promoted Anshul Agrawal to Chief Technology Officer (CTO) for the company’s global operations. Anshul has more than 15 years of experience in technological infrastructure and architecture, as well as security, performance, product development, and UI/UX best practises. He’s an engineer from IIT Roorkee who dropped … Read more
Prior to its IPO, PB Fintech, the holding company for PolicyBazaar and PaisaBazaar, received Rs 2569.73 crore from 155 anchor investors. The company claimed in a filing with the stock exchanges that the participants included both domestic and overseas investors, with shares distributed at a price of Rs 980 per share. PB Fintech’s initial public … Read more
