Thursday, May 19, 2022

Daily News: How Indian Fintech startups got funding last week

1. Four things to know about P2P lending

Fintech players are tying with peer-to-peer (P2P) lending platforms to showcase loan products as more convenient and accessible.

While there are risks involved in this form of leding, it is becoming famous because of its easy use case. Here are 4 things to know about P2P lending.

Read more about it here.

2. PayU India CEO: BillDesk Acquisition To Help Handle 4 Bn Transactions Annually

Earlier this month, PaU acquired BillDesk. It was the talk of town. It was one of the most important acquisitions of the year as well.

Anirban Mukherjee, CEO, PayU India said that: “By bringing together the two complementary businesses, we expect to create a fintech ecosystem handling 4 Bn transactions annually — that is four times PayU India’s current level”

Read the full story here.

3. How fintech companies are impacting investment planning

With the rise of fintech companies, there is a disruption in every sector. What started as a revolution from analogue to digital in banking more than two decades ago has ultimately matured into something far more disruptive.

India has the largest number of fintech companies after the United States. They are making an equal revolutionary impact on wealth planning as well.

Read here to know-how.

4. Innoviti To Create Greater Financial Inclusion in India in Partnership With Visa

Digital payments firm Visa has partnered with Innoviti Payment Solutions, India’s largest provider of payment solutions. This partnership aims to provide offline enterprise merchants, to develop technology to improve the reach of digital payments into small towns, as well as rural and remote areas.

The partnership will also drive proof of concept (POC) for offline payments in India. The same has been executed by Innoviti in Bengaluru in partnership with Yes Bank and Axis Bank.

Read more about it here.

5. How Indian Fintech startups got funding last week (06 Sep-11 Sep)?

Fintech companies in India saw some major funding this week.

Neobanking platform Open has raised around $62 million in Series C round from Temasek, Google and existing investors.

Leap Finance, a fintech platform for Indian students pursuing higher education overseas, has raised $55 million in its Series C led by Owl Ventures.

Neokred, a Bengaluru-based tech startup that provides open banking stack, had a seed round to raise an additional $0.5 million in funding.

Read more about it here.

6. Story of Ahmedabad-based wealth management startup Tarrakki

Tarakki was founded in 2018 by Saumya and Shaily Shah. Tarrakki is a full-stack wealth management platform that aims to help people invest smartly by giving them different investment options, and unbiased investment advice.

However, the USP of the company lies in its ability to get the masses to participate in the markets via investment instruments, and it does this by providing investment options for as low as Rs 100.

Read more about it here.

7. National Payments Corporation of India to Launch RuPay API platform

The National Payments Corporation of India (NPCI) has tied up with a private fintech firm to launch an application programming interface (API) platform. The partnership will take care of the launch of the plug-and-play RuPay credit card stack, ‘nFiNi’.

The programme will significantly decrease onboarding time via services offered including a hosted card management system covering transaction processing, fraud, and risk management, open APIs, and surrounding services to support card programmes.

Read more here.

8. Will India’s BNPL 2.0 disrupt B2B? – TechCrunch

Buy now and pay later has become mainstream in the last few years. both as terms and as a financial product, “BNPL today extends from FinTech’s small offerings on consumer checkout platforms and marketplaces to closed-loop products offered on marketplaces such as Amazon Pay Later.

It is complemented by the growth of e-commerce. TechCrunch describes how India’s BNPL 2.0 might disrupt B2B.

Read more about it here.

9. $1 trillion digital loan market of India is next battleground for tech giants

From Facebook Inc. to Xiaomi Corp. India is seeing the digital loan market becoming a battleground for companies.

It started with Facebook stating that India will be the first country where it rolls out its small business loan program offering loans via a partner to firms that advertise on its platform.

Read more about it here.

10. Kolkata’s Preferred Destination

Almost 27 companies are setting up units in FinTech Hubs in Kolkata. Even information technology biggies like Infosys, Wipro and ITC Infotech are making a bet on Kolkata for Bengal to set up state-of-the-art campuses.

These aim to show the human capital-rich state’s adeptness to provide ‘plug-and-play’ infrastructure for the knowledge industry.

Read more about it here.

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