Total expenses for the Bengaluru-based firm fell to Rs 3,280 crore in FY24 from Rs 3,635 crore a year earlier, with employee benefit expenses declining marginally to Rs 216.4 crore from Rs 227.2 crore.
The latest funding round was supported by existing investors London-based Development Partners International and private equity firm Lightrock. Google’s Africa Investment Fund and Verod Capital came in as new investors.
According to the startup, the funding round, led by Nexus Venture Partners, will enable them to advance product innovation and expand its offerings.
Cashfree Payments has secured the Prepaid Payment Instrument (PPI) license from the Reserve Bank of India (RBI), adding to its existing Payment Aggregator and Payment Aggregator-Cross Border licenses. This will help the fintech expand its payment offerings, driving innovation and growth in India’s digital payments ecosystem.
The initiative aims to support over 30 startups in its initial year, TurboStart Founder and CEO, Ganesh Raju, told ET. “Unlike traditional funds that require high-value investments, TurboStart’s model allows smaller ticket sizes, enabling more investors to participate with multiple transactions with full transparency,” he said.
This Dhanteras JioFinance introduces ‘SmartGold’. Through their app customers can choose flexible options to buy SmartGold in denomination of rupees or grams.
The Peak XV Partners-backed fintech has rolled digital gold as its first investment product. Going forward, it plans to offer fixed deposits in partnership with banks and others, and small-ticket investment products, before moving on to trading and other related products like mutual funds.
The RBI has taken series of majors in the last few weeks and charged FinTechs for non-compliance. From Digital lending to unsecured lending and P2P lending, RBI has taken supervisory actions. How are FinTechs reacting to RBIs actions? What next for FinTechs? Innovation or Regulation, what comes first… The special episode of FinTech Diary will …
Fintech company Slice and North East Small Finance Bank (NESFB) on Monday announced a successful completion of their merger, following the shareholder and regulatory approvals.
Key regulatory approvals, including NPCI’s recent approval for new UPI user onboarding, bolster Paytm’s expansion plans while growth in financial services, particularly through DLG model loans and increased credit card distribution, adds to the company’s long-term growth prospects.
