According to investors, regulatory minefields and market realities have led to a sharp decline in Indian fintech valuations, with caution and diligence now defining investment decisions.
Appreciate has conducted a Rs 100 mutual fund transaction on the ONDC Network. They are partnering with Nippon India AMC to make investments accessible. Their goal is to democratize financial services and include low-ticket investments. This aligns with ONDC’s vision of financial inclusion, expanding its services to mutual funds, following successful digital lending efforts.
Pre-approved ICICI Bank customers can now instantly activate a credit line of up to ₹2 lakh on the PhonePe app for UPI transactions, enhancing digital credit access during the festive season.
Global FinTech funding rebounded in September 2024, reaching USD 2.2 billion, up from USD 1.74 billion in August, according to latest data by 1Lattice. This uptick signals a potential recovery in the sector, with top FinTechs securing significant investments from major investors.
Former Head of Consumer Banking at Kotak Mahindra Bank, Virat Diwanji has been appointed as the Additional Director at Zaggle.
Paytm is prioritizing rebuilding its consumer payments business after facing regulatory setbacks. The company lost a significant number of users due to RBI restrictions on its payments bank operations. To regain lost users, Paytm is focusing on the consumer payments business and exploring new opportunities like the Third-Party Application Provider (TPAP) model.
Manmeet Singh Dhody, who was the CTO of payments till now, moves into the role of AI Fellow.
India’s fintech sector saw a significant decline in investments in September 2024, with total funding dropping to USD 230 million from 10 rounds. This downward trend mirrors the global landscape, where fintech funding has been experiencing a slowdown.
While Unified Payments Interface, commonly referred to as UPI, has been a resounding success worldwide, more work is required to break barriers of language, location, and gender, said Sharath Bulusu, Director, Product Management, Google Pay on Friday.
Paytm’s employee costs rose significantly in FY24, despite regulatory challenges and business slowdown. The company increased the remuneration of its CFO, Madhur Deora, by 15%, while the founder and CEO, Vijay Shekhar Sharma, did not receive a raise. Paytm has also faced several executive departures and is focused on reducing employee expenses and improving its …
Paytm parent’s staff costs rise 21% in a challenging year Read More »
