Moneyview, a leading consumer lending platform, has achieved unicorn status following a recent funding round that brought in new capital from existing investors. The company raised INR 38.64 crore (approximately USD 4.65 million) by issuing 60,23,382 equity shares at INR 64.15 each. Major contributions came from Accel India, which invested INR 29 crore, and Nexus Ventures, which added INR 19…
Effective cash flow management is crucial for the success of any startup, especially when resources are limited and competition is fierce. With unpredictable cash flow often resulting from irregular sales cycles or delayed client payments, many small business owners find cash flow management to be their biggest hurdle. A 2023 QuickBooks survey found that 61% of small business owners struggle with…
Mumbai-based rural credit startup Sarvagram is in advanced discussions to raise over $50 million from new and existing investors, potentially doubling its valuation to $170-200 million. Leading venture capitalists Peak XV, Apis Partners, and Beams Fintech Fund, alongside global impact investor Creation Investments Capital Management LLC, are among the top contenders for this funding round. The…
PayU, a leading Indian financial services provider, has unveiled groundbreaking solutions for global payments at the Global Fintech Festival 2024 (GFF). The new offerings, including the Subscription Multiplier and Cross-Border Issuer Authentication Solution, promise to enhance the efficiency and security of international transactions, addressing key challenges in the payments ecosystem.
Next-Gen…
At the Global Fintech Fest in Mumbai, Infosys co-founder and chairman Nandan Nilekani highlighted that startups leveraging India’s digital public infrastructure (DPI) are now valued at $100 billion. Nilekani emphasized that the development of Aadhar and the Unified Payments Interface (UPI) was designed to lay down foundational “rails” for private sector innovation.
“The estimated market…
PayMate, a leading digital B2B payments company in India, has announced a strategic partnership with NPCI Bharat BillPay Ltd. (NBBL) to introduce the PayMate BBPS-B2B platform. This cutting-edge platform aims to overhaul the commercial payment landscape in India by enhancing the efficiency of invoicing, payments, and collections, and fostering a seamless, interoperable ecosystem between buyers and…
Plutos ONE, a prominent Delhi-based technical service provider for the Bharat Bill Payments System (BBPS), has successfully raised $2 million in a seed funding round led by StartupXseed. The funding round also attracted investment from Genesia Ventures, Auxano Capital, Raghuvanshi Investments, and several other notable investors.
This latest round of funding follows an earlier angel investment…
In the rapidly evolving financial sector, the challenges of debt collection have traditionally been met with manual processes and outdated practices. Rishabh Goel, co-founder and CEO of Credgenics, is spearheading a transformation with a cutting-edge SaaS platform that utilizes AI and machine learning to revolutionize the debt recovery process. Established in 2015, Credgenics has emerged as a…
Vikas Mehta, a seasoned finance leader with a track record at major companies such as PayPal, Microsoft, Walmart, Nike, Anaplan, and Komodo Health, has been appointed as the new Chief Financial Officer at Remitly. Mehta’s new role at the Seattle-based digital remittance provider began this week, and he expressed enthusiasm about the company’s growth potential.
“Remitly presents a massive…
PhonePe Unveils ‘Credit Line on UPI’ Feature, Enabling Short-Term Credit for Merchant Transactions
PhonePe, a leading digital payments platform, has launched a groundbreaking feature called ‘Credit Line on UPI,’ expanding the capabilities of the Unified Payments Interface (UPI) to include short-term credit options for both consumers and merchants. This innovation follows the Reserve Bank…
