N.S. Venkatesh, the highly respected financial professional who led the Association of Mutual Funds in India (AMFI) as its CEO from 2017 to 2023, is now taking on a new role in his illustrious career. He has been appointed as the Chairman of Athachi Finserv, a bespoke investment services organization offering comprehensive long-term wealth creation … Read more
Balancehero India, the driving force behind one of India’s leading digital lending apps, TrueBalance, recently appointed Sayantan Ghosh, an alumnus of the Indian Statistical Institute, as its Head of Credit Risk Management & Data Science. Before joining Balancehero India, Sayantan had a stint with Statsfin and held various leadership positions at American Express. During his … Read more
BankBazaar has emerged as the highest-funded startup in April, securing $9.6 million in investments. The fintech sector in India attracted $29 million in April, bringing the total investments in CY2024 to $203 million, according to data compiled by BFSI consulting firm The Digital Fifth. A significant portion of this funding was directed towards companies specializing … Read more
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
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
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
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
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, 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, 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
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
