Page 8 - Fintech
India's fintech market to triple to Rs 6.2 trn by 2025: MoS Finance Karad
The govt's various initiatives have led to fast growth in the fintech sector, which is likely to triple to Rs 6,20,700 crore in value terms by 2025, Minister of State for Finance Bhagwat K Karad said
 "India's fintech market to triple to Rs 6.2 trn by 2025: MoS Finance Karad")
Late stage technology deals at an all time high in India: IVCA-EY report
Among overall sector-wise trends and deals, fintech (financial technology) topped the charts with 61 deals followed by edtech (education technology) with 42 deals.
Tie-ups like Equitas-Google Pay can significantly disrupt payments sector
With Covid-19 putting the brakes on bank lending, fintech players have begun to give banks serious competition
 "Tie-ups like Equitas-Google Pay can significantly disrupt payments sector")
Indians embrace digital: Over 300 mn smartphone users use digital payments
From 'tankhwa' and 'kiraya', for 'shagun' and 'jugaad', digital payment is a pan-India habit
 "Indians embrace digital: Over 300 mn smartphone users use digital payments")
We will be more active in fintech ecosystem: PayU's Anirban Mukherjee
'We want to build a platform that can be used by others as well', said Mukherjee
 "We will be more active in fintech ecosystem: PayU's Anirban Mukherjee")
In no hurry to launch IPO, will go public when it makes sense: PhonePe CEO
PhonePe is in no hurry to launch its IPO and will go public "when it makes sense" for the company, even as a number of Indian internet companies line up to mark their debut on Dalal Street
 "In no hurry to launch IPO, will go public when it makes sense: PhonePe CEO")
Processing about 1.5 bn transactions a month: PhonePe CEO Sameer Nigam
Nigam said that the fintech firm is aiming to reach 900 million people in the next 8-10 years
Processing about $1.5 billion transactions a month, says PhonePe
Fintech major PhonePe on Thursday said it is processing almost $1.5 billion transactions a month, and about 80 per cent of its users are from tier-II cities and beyond
 "Processing about $1.5 billion transactions a month, says PhonePe")
Delhi court gives police three weeks to conclude Paytm ownership probe
Ashok Kumar Saxena, 71, said in legal documents that he had invested $27,500 in Paytm parent One97 Communications two decades ago, but was never allotted any stock
 "Delhi court gives police three weeks to conclude Paytm ownership probe")
Aiming to raise $700 mn in debt over next 2 yrs: BharatPe CEO Suhail Sameer
Delhi-based BharatPe said it has raised Rs 100 cr each as debt from IIFL Wealth & Asset Management, and Northern Arc Capital
 "Aiming to raise $700 mn in debt over next 2 yrs: BharatPe CEO Suhail Sameer")
Amazon, Premji Invest back fintech smallcase in $40 mn funding
The capital raised will be used to launch better investment products for the retail investor
 "Amazon, Premji Invest back fintech smallcase in $40 mn funding")
MobiKwik appoints Punita Kumar Sinha, 3 others as independent directors
MobiKwik on Friday said it has appointed former Blackstone MD Punita Kumar Sinha, diplomat Navdeep Singh Suri, and two others as independent directors
 "MobiKwik appoints Punita Kumar Sinha, 3 others as independent directors")
True Balance aims for break-even by year-end, eyes listing by 2024
True Balance is an RBI-authorised digital platform which facilitates loans through its safe, RBI licensed NBFC - True Credits.
 "True Balance aims for break-even by year-end, eyes listing by 2024")
BharatPe's valuation crosses $2.85 bn in $370 mn in Series E equity round
The funding would help the firm compete and take on players such Pine Labs, Paytm and Mswipe
 "BharatPe's valuation crosses $2.85 bn in $370 mn in Series E equity round")
Jack Dorsey-run fintech platform Square to acquire Afterpay for $29 billion
Financial payments services firm Square, run by Twitter CEO Jack Dorsey, has announced to acquire Australian company Afterpay for $29 billion in an all-stock deal
 "Jack Dorsey-run fintech platform Square to acquire Afterpay for $29 billion")
New interoperable MF platform could queer the pitch for fintechs
Sebi's move has raised doubts over the role of players like Kuvera, Groww and Paytm Money. Currently, most users prefer these players for most activities that the new platform is designed to do
 "New interoperable MF platform could queer the pitch for fintechs")
SBI, Axis Bank, ICICI Bank, others buy stakes in fintech firm IBBIC
Six banks State Bank of India, Axis Bank, Indian Bank, Yes Bank, IDBI Bank, and ICICI Bank on Tuesday said they have bought equity stakes in financial technology platform IBBIC.
IPOs of India's Paytm, South Korea's Kakao reveal Gen Z's banking vision
Internet-based businesses are raising funds at a record pace, making use of the boost given by the pandemic to all things digital
 "IPOs of India's Paytm, South Korea's Kakao reveal Gen Z's banking vision")
UK finance firm Tide raises $100mn in funding round led by Apax Digital
Company has a development centre in Hyderabad and plans a full launch in India next year
 "UK finance firm Tide raises $100mn in funding round led by Apax Digital")
IDBI Intech eyes fintech firms for takeover as it expands in Europe, Asia
Firm currently has 20 fintechs in its fold; ties up with Lemon Advisors to expand overseas
 "IDBI Intech eyes fintech firms for takeover as it expands in Europe, Asia")
