How Paycraft is helping ease urban mobility in India
We chat with Paycraft’s CEO Ambarish Parekh about what the company offers and its evolution over the years.
India
$4.7bn Prosus acquisition of India’s BillDesk falls through
The acquisition deal was originally announced back in August 2021.
New challenger bank in India for young professionals – Shelf
Shelf was recently accepted into start-up accelerator Y Combinator’s Summer 2022 batch.
India’s Signzy raises $26m in Series B funding round
The funds will be used to further develop its platform and boost its international presence.
Target Group makes new CEO and COO appointments
John Barker has been named as the firm’s new CEO, with Peter O’Connor taking on the role of COO.
Former Citi banking veteran joins leadership team of challenger bank Zolve
Freiberg was co-chairman and CEO of Citigroup’s global consumer group for three decades.
India’s RBI gives financial firms deadline to comply with new digital lending rules
The RBI says that the new rules will be applicable to both existing and new customers.
Indian lendtech EarlySalary raises $110m Series D funding
EarlySalary will use the new funds to expand into new markets and increase its loan book.
Reserve Bank of India lifts onboarding restrictions on American Express
The RBI imposed restrictions on the US card issuer in May 2021, denying it the ability to onboard new customers.
Indian savings fintech Jar lands $22.6m in Series B funding
Jar claims to have racked up 10 million users since its launch last year.
Yes Bank taps IBSFintech to digitise services for corporate clients
The partnership aims to enable paperless communication across treasury and trade finance processes.
Indian wealthtech platform Dezerv bags $21m Series A
The new funding has raised the company’s valuation to $100 million.
South Asia fintech funding round-up: Twid, Jify, OneLoad and Bluecopa
A handy round-up of recent funding endeavours of fintech companies across India and Pakistan.
Private equity firms buy stake in India’s Yes Bank as part of $1.1bn capital raise
Carlyle Group and Advent International have both agreed to acquire up to a 10% stake in the bank.
Equity management firm Qapita buys India-based ESOP Direct
Qapita is aiming to boost its presence in India.
India’s M2P Fintech snaps up digital identity platform Syntizen
This is M2P Fintech’s third acquisition in 2022 alone.
Indian crypto exchange CoinDCX appoints Gaurav Arora as senior VP
In his new role, Arora will lead product, business and growth for the firm’s DeFi initiatives.
The Reserve Bank of India wants to ban crypto, says India’s finance minister
The RBI believes cryptocurrencies have a “destabilising” effect on a country’s monetary and fiscal stability.
SunTec hires ex-IBM exec as new chief strategy and transformation officer
Pramod Perumparambil will drive the company’s strategy to accelerate business growth.
New cross-border payments and digital banking platform KwikPaisa launches in India
The platform will allow users to make payments anywhere in the world.
Saleem Arshad appointed as new CTO for Revolut India
Arshad will help shape Revolut’s product offerings and technology for the Indian market.
Skilling initiatives pivotal for the growth of women nanopreneurs in rural India
Skilling initiatives can bring rural women in India into the financial system.
How Zolve is helping US immigrants land on their feet
Zolve helps immigrants accelerate their financial health through products that build wealth in the long run.
India’s M2P Fintech snaps up cloud lending firm Finflux
M2P Fintech plans on rolling out lending products “that are secure, scalable and cloud-ready”.
Indian revenue-based financing firm GetVantage bags $36m funding
The new investment brings GetVantage’s total funding to date to $41 million.
India’s Jarvis Invest hires Rajesh Batreja as CSO
The company intends to expand throughout India and into the US and Middle East.
India’s Lentra snaps up AI firm TheDataTeam
Lentra says it plans to integrate TDT’s behaviour intelligence platform Cadenz.
Indian B2B e-commerce platform Solv raises $40m Series A
Solv says the funding will support its expansion throughout more than 300 cities across Africa and Southeast Asia.
ICICI Bank launches digital platform for the student ecosystem
Campus Power, available to all, aims to offer banking and value-added services within one platform.
India’s Pine Labs acquires API fintech start-up Setu
This is the third acquisition announced by Pine Labs this year.
Stashfin lands $270m in Series C funding to expand in Asia
Stashfin says it will use the new money to expand its footprint across South and Southeast Asia.
Reserve Bank of India lifts ban on Mastercard onboarding new customers
RBI had imposed a ban on Mastercard in July 2021 for non-compliance.
ICICI Bank partners ZestMoney to expand “cardless EMI” facility
The facility is live on select e-commerce websites and the firms say will be made available at retail stores soon.
Indian fintech start-up Slice raises $50m in ongoing Series C round
The round has been led by Tiger Global with participation from new investor GMO Venture Partners.
Jack Ma’s Alibaba and Ant Financial leave Paytm Mall
The Indian firm’s valuation fell from $3 billion in 2020 to $13 million now – a drop of almost 99%.
ICYMI funding round-up: Sudozi, Mentum, Assetplus, Multipl & Akuvo
Our weekly fintech round-up for you to get the latest funding news from around the world.
HCL snaps up Swiss wealth management firm Confinale
The deal will see HCL expand its footprint in the global wealth management market.
FinTech Futures: Top five stories of the week – 6 May 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
SME neobank Open bags $50m, becomes India’s 100th unicorn
The Series D round was led by IIFL with participation from existing investors Temasek, Tiger Global, and 3one4 Capital.
Indian fintech Financepeer raises $31m in Series B round
The firm says it will use the funds to make quality education more accessible across India.
