Fintech firm Lendingkart is facing a cash crunch as the company’s profit margin declined in recent years and its valuation has reportedly nosedived by more than 60 per cent.
Ashneer Grover withdrew his NCLT plea after settling with BharatPe, agreeing to no longer be involved with the company or its shareholding, ending a legal dispute since his 2022 removal.
India’s fintech sector is experiencing rapid consolidation as smaller players grapple with tightening regulations and funding hurdles. Industry experts see mergers and acquisitions as a vital survival strategy, paving the way for a more stable and mature fintech market.
Foreign Portfolio Investors (FPIs) Societe Generale, Tiger Pacific Master Fund and UBS Principal Capital Asia brought their holdings in One 97 Communications below 1% in the September-ended quarter. Shares of Paytm dropped to a low of Rs 700 on the BSE, falling by 3% intraday amid weakness in the overall markets. The stock has witnessed …
FPIs Societe Generale, UBS and Tiger Pacific reduce stakes in Paytm below 1% Read More »
Peer-to-peer lending startups are still coming to terms with the latest observations on the sector released by the RBI on August 16. At the same time, they are also dealing with regulatory action against violations. Many P2P platforms are working on restricting withdrawals and also overhauling their entire product journey to abide by stringent RBI …
P2P startups look to overhaul biz, processes amidst RBI crackdown Read More »
SWIFT’s new system will use pseudonymised data from billions of transactions, detecting and flagging suspicious activity in real-time.
At the group level, its consolidated ebitda (earnings before interest, tax, depreciation and amortisation) loss before share-based payment expense reduced 75% to Rs 209 crore in FY24 from Rs 826 crore in the last fiscal. It also narrowed its consolidated loss before taxes by 50% to Rs 474 crore from Rs 941 crore in the …
BharatPe posts 39% rise in FY24 operating revenue Read More »
Zodius Capital has bagged more than $100 million in returns on its initial $8 million investment in OfBusiness in late 2016, said Gautam Patel, cofounder of the venture capital fund, confirming the exit. He is also the founder and managing partner at venture fund Z3Partners.
Lendingkart is in talks with Fullerton Financial Holdings, its largest shareholder, for an internal funding round at a major valuation cut. Ahmedabad-based small business-focused lending startup Lendingkart has been in the market for an equity funding round for a year now. But none of its deals have materialised yet.
During this year’s festive season sales, credit cards and credit-based payment instruments like pay-later products saw a significant increase, according to industry reports. Transactions rose by 35-50% compared to last year, with a large share being made through credit cards, EMIs, and pay-later options. Unified Payments Interface (UPI) remained the dominant payment method, with a …
