Indian fintech start-up Recur Club secures $30m seed funding
The seed funding is made up of a combination of equity and debt.
India
FinTech Futures: Top five stories of the week – 22 April 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Indian crypto platform CoinDCX raises $135m Series D
CoinDCX CEO says the investment “reinforces the belief in India’s immense potential in the crypto ecosystem”.
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India’s Pine Labs raises $50m from Vitruvian Partners to drive growth
The raise comes hot on the heels of a $150 million investment in February from Alpha Wave Global.
SME financing platform Oxyzo raises $200m Series A, becomes unicorn
The company’s vision is to become “India’s most profitable, tech-driven, B2B SME fintech player”.
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Indian fintech Money View lands $75m Series D funding
Money View is now valued at $625 million.
Property lender Better.com lays off more than 3,000 staff in fresh cuts
The announcement was made by the company’s interim president Kevin Ryan via an e-mail to affected staff.
India’s CredAvenue hits unicorn status with $137m Series B round
CredAvenue will use the cash to invest in artificial intelligence, machine learning and data analytics.
Airtel partners Axis Bank to boost India’s digital financial services ecosystem
The Airtel Axis Bank credit card is the first product to be launched under the partnership.
Indian neobank Niyo lands $100m Series C to boost product development
Niyo CTO says: “We are seeing massive tailwinds for digital financial products since Covid-19.”
India’s Pine Labs secures $150m funding from Alpha Wave
The fintech has previously seen investment from the likes of PayPal and Mastercard.
Education financing platform Propelld raises $35m Series B
The start-up intends to add another 100 to 150 employees to its already 150-strong workforce.
India confirms digital rupee CBDC to debut by 2023
The finance minister announced a raft of digital economy support measures in her Union Budget 2022-23 speech.
New neobank Coupl set to launch in India
Start-up allows couples to set up joint accounts and manage their money together.
Bank of Baroda taps enterprise tech provider NCR for ATM-as-a-Service solution
The Indian bank says the new ATMs will offer “expanded transaction options via our self-service channel”.
Modifi acquires Seawise Capital’s trade finance and SaaS business in India
Modifi’s business in India has grown more than 2,100% over the past 18 months.
Rupifi appoints early investor Rajesh Kamra to lead B2B payments innovation
Rupifi says it’s India’s “first embedded finance company” in the B2B payments space.
Indian fintech start-up M2P raises $56m in Series C1 round
M2P claims to have raised more than $100 million in the past year alone.
Indian fintech FPL Technologies raises $75m in Series C round
Pune-based FPL’s products are designed to create a credit-savvy population.
Crypto exchange CoinDCX names former Wells Fargo exec Divakar Prayaga head of information security
Launched in 2018, CoinDCX claims to be India’s “safest crypto exchange”.
Sumitomo Mitsui Trust Bank invests in Indian lender DMI Finance
DMI Finance has closed a $47 million equity investment round.
B2B embedded finance fintech Rupifi raises $25m in Series A round
The fintech says B2B commerce has undergone a digital transformation over the past few years.
Indian paytech Cashfree to double workforce this year
The company plans to have a 950-strong workforce by the end of 2022.
New neobank for couples Fibbl launches in India
The Bangalore-based Fibbl bills itself as a neobank for couples to manage money as a team.
Indian paytech Razorpay raises $375m, plans international expansion
Razorpay’s Series F funding round now values the firm at $7.5 billion.
Indian paytech Juspay secures $60m in Series C funding round
The funding will be used to support national and international expansion.
India’s Open buys neobanking start-up Finin in $10m deal
Open CEO Anish Achuthan says the acquisition will complement his firm’s BankingStack enterprise offering.
India’s FSS and CSB Bank team up to provide banking services to the financially underserved
The partnership will see 1,000 Smart Cash franchises opened in underbanked areas.
Indian BNPL start-up Uni raises $70m in Series A funding round
“BNPL is growing at a breakneck speed in India,” says CEO Nitin Gupta.
Slice hits unicorn status with $220m Series B funding round
Cash injection will be used to further develop its product offerings and hire more staff.
Indian fintech start-up Simpl lands $40m in Series B funding
Fast-growing Indian e-commerce sector is in the company’s sights with its cardless payments offerings.
SME neobank Open launches new embedded finance platform Zwitch
Open says Zwitch has already helped 10 start-ups embed financial services.
Indian government takes next step in banning cryptocurrencies
Scheduling of bill points to government’s stance despite speculation over rethink.
Euroclear partners India’s HCL to modernise digital framework
HCL will set up a co-innovation lab in Brussels to explore emerging technologies.
Indian fintech Glimpay aims to solve freelancer payment issues
The firm says it can help users send trackable and shareable invoices to clients to manage their payments.
Digital trade finance platform Drip raises $175m in equity and debt funding
Drip provides SMEs across India, Mexico and the US access to collateral-free credit.
Indian tax fintech Clear secures $75m to capitalise on country’s digitisation
The e-filing company will also broaden its offering to people and businesses.
Groww valued at $3bn following $251m Series E round
Groww will use the cash to expand its reach into underserved parts of India.
