Drip Capital, a digital trade finance platform, has successfully raised $113 million in a recent funding round, combining equity and debt to further its growth and diversify its product offerings for small and medium-sized businesses (SMBs) in key markets such as India and the US.
This funding round includes $23 million in equity from Japanese institutional investors GMO Payment Gateway and…
VentureSoul Partners, a newly established venture debt firm, has marked a significant milestone by reaching the first close of its maiden fund, securing INR 600 crore. This fund, registered as a Category II Alternative Investment Fund (AIF) with SEBI, is set to target a total corpus of INR 300 crore, with an additional INR 300 crore in greenshoe options. The firm aims to back high-potential…
Infibeam Avenues, a leading fintech company, has announced a strategic partnership between its flagship digital payments platform, CCAvenue, and ShopSe India, a prominent digital-first EMI/BNPL marketplace. This collaboration aims to offer a more flexible payment solution to consumers across India, enabling seamless transactions on countless merchant websites powered by the CCAvenue payment…
In a major regulatory move, the Securities and Exchange Board of India (Sebi) has removed over 15,000 content sites run by unregulated financial influencers in the past three months. This crackdown is part of Sebi’s broader initiative to safeguard investors and curb misleading financial advice from unauthorized sources.
Kamlesh Varshney, a Sebi wholetime member, emphasized the regulator’s…
Infosys co-founder and non-executive chairman Nandan Nilekani has highlighted the transformative impact of India’s digital public infrastructure (DPI) on the startup ecosystem, revealing that the value of startups built on this foundation exceeds $100 billion. Speaking at the Global Fintech Festival 2024, Nilekani emphasized the pivotal role that foundational technologies like the Unified…
Founded in 2008 by Yashish Dahiya, PolicyBazaar has transformed the Indian insurance landscape by offering a platform that prioritizes transparency, comparison, and customer-centric solutions. As India’s leading online insurance aggregator, PolicyBazaar has played a pivotal role in reshaping how individuals purchase and manage insurance.
The Problem with Traditional Insurance Sales
Historically…
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…
PhonePe, the Walmart-backed fintech giant, has announced a significant milestone by turning profitable for the fiscal year 2024, excluding costs related to employee stock options (ESOPs). The company reported a profit after tax (PAT) of ₹197 crore, excluding ESOP expenses, marking a dramatic turnaround from a loss of ₹738 crore in FY23.
In a statement released on Monday, PhonePe highlighted…
MobiKwik, the digital financial services platform, has marked a significant achievement by reporting its first-ever full-year profitability for FY24 after 15 years of operating at a loss. The company announced a Profit After Tax (PAT) of ₹14.08 crore, a substantial turnaround from the ₹83.81 crore loss in FY23. This milestone has boosted MobiKwik’s confidence as it prepares for its Initial…
Mumbai-based fintech startup LXME has successfully secured $1.2 million in seed funding, spearheaded by Kalaari Capital. This investment aims to bolster the platform’s mission of fostering financial independence among women.
Kalaari Capital, led by Vani Kola, is known for its early investments in Myntra and Snapdeal. The investment was made through its CXXO initiative, which focuses on…
