Stripe acquires Indian accounting software firm Recko
The acquisition reflects a broader investment strategy in India, the fintech says.
India
Indian fintech start-up CRED secures $251m Series E funding
Fintech aims to incentivise members to pay credit card bills on time.
India’s M2P Fintech plots expansion following $35m raise
CEO says firm will also “double down” on growth in India and Dubai.
Indian SME neobank Open gains backing from Google in $100m Series C
Open raises $100 million to expand into new markets, including the US.
Debt platform CredAvenue raises $90m in Series A funding round
Significant investments in data science, machine learning, and AI are in the pipeline.
Amazon-backed Indian BNPL firm Capital Float raises $50m
The investment brings Capital Float’s total money raised to date to over $600m.
Aussie BNPL firm Zip targets Indian expansion with ZestMoney investment
The investment underlines Zip’s strategy to capitalise on the high-growth Indian BNPL market.
Zolve launches immigrant-focused banking products
The neobank’s new suite of products will help new arrivals to the US build credit.
Pine Labs secures $100m investment to fuel further growth
The Indian fintech has now raised $700 million this year.
Visa partners Indian paytech to push offline payments
Innoviti says it is committed to building a cashless India, driving financial inclusion across the country.
Major Indian banks launch Account Aggregator project
New programme aims to extend financial services to millions of new customers.
Exclusive: Oracle FS wins major core banking deal with Gulf Bank
The front-to-back operation is set to be a major undertaking.
Prosus underlines Indian objectives with $4.7bn deal for BillDesk
Dutch e-commerce firm spends big to deepen footprint in India.
Reserve Bank of India plans CBDC trials by 2022
India’s central bank is still being “extremely careful” about its tests.
Bookkeeping platform Khatabook raises $100m in Series C funding
The Indian firm provides tools for the country’s 67m small and medium-sized businesses.
Rainshine plans four media and entertainment fintechs
M&E fintechs will be launched in part using the company’s blockchain platform.
Wealth management start-up Smallcase raises $40m in Series C funding
The round included participation from e-commerce giant Amazon.
CoinDCX lands $90m Series C funding to become India’s first crypto unicorn
The round was led by Facebook co-founder Eduardo Saverin’s B Capital Group and returning investors.
Indian challenger bank Jupiter lands $45m Series B funding co-led by Nubank
The start-up has now raised around $71 million in total.
Indian fintech BharatPe secures unicorn status with $370m Series E round
The company says the investment takes its valuation up to $2.85 billion.
New banking software deals for Oracle FS in Africa and India
Addis International Bank, Arab Commercial Bank, and OmniBSIC Bank are the new Flexcube takers.
Major Indian banks join trade finance blockchain project IBBIC
The consortium promises the creation of a secure environment for processing letters of credit.
Student loans start-up Credenc raises $25m from Capital India
Delhi-based fintech uses AI to determine students’ future income.
Indian payments firm Paytm files for IPO with $2.2bn target
The firm plans to use the funds to strengthen its payment network and explore new acquisitions.
Reserve Bank of India blocks Mastercard from onboarding new domestic customers
RBI claims Mastercard Asia/Pacific has failed to comply with an earlier directive on data storage.
Revolut hits $33bn valuation with $800m Series E investment
The round was led by SoftBank’s Vision Fund 2 and Tiger Global.
Singapore start-up Bambu acquires investment and trading wealthtech Tradesocio
Bambu plans to tap into Tradesocio’s presence across EMEA and India.
Indian payments start-up MobiKwik targets $255 million raise with IPO
The IPO forms part of the company’s “IPO 2022 campaign”.
Singapore fintech Nium to acquire Wirecard Forex India
The acquisition is expected to close in the third quarter of 2021.
Indian fintech Pine Labs secures $600m investment
The firm landed an additional $315 million on top of the $285 million raised in May.
Yap set to raise $35m from Tiger Global
The round could value the Bangalore start-up at $350 million.
Nigerian fintech FairMoney lands $42m Series B round
The start-up plans to “double down on growth in Nigeria and India”.
Commercial Bank of Kuwait picks TCS treasury solution
The Middle Eastern bank is looking to transform its treasury operations.
Tide expands to India with £100m investment and RBL Bank partnership
UK business bank aims to “unleash” the potential of Indian SMEs.
Indian fintech start-up FamPay lands $38m in Series A round
The Bengaluru-based firm is aiming to build India’s first neobank for teenagers.
Wipro hires former Yes Bank exec Anup Purohit as new CIO
Purohit has previously worked in leadership roles at RBL, Barclays and JPMC.
Payments fintech Cashfree lands investment from State Bank of India
Cashfree claims to process more than $20 billion annually.
Pine Labs raises $285m in venture funding to reach $3bn valuation
Merchant payments platform Pine Labs plans regional expansion.
Google Pay dips toe in cross-border market with Western Union, Wise
India, Singapore, and the US to be first countries trialled for remittances switch.
Blackstone to acquire additional stake worth $2.8bn in IT firm Mphasis
Blackstone intends to build Mphasis into a $10 billion-valued company.
