The proceeds from the fresh issue, to the extent of Rs 250 crore will be used for funding growth in the financial services business, Rs 135 crore for funding growth in the payment services business, Rs 135 crore for investment in data, ML and AI and product and technology, Rs 70.28 crore for Capital expenditure …
Payment Platform MobiKwik refiles DRHP for Rs 700 crore IPO Read More »
Within the retail category, food and beverages accounted for 32.5% of the orders, followed by fashion (29.6%), with the remaining transactions spread across categories such as home and kitchen (12.6%), grocery (10.1%), beauty and personal care (8.5%), and electronics (5.7%). ONDC’s highest single-day orders so far have been about 217,000.
The RBI started its e-rupee pilot in December 2022 but transactions averaged only 25,000 a day by the end of October, even though its use case was significantly broadened by linking it to the popular United Payments Interface (UPI) which is a framework that facilitates peer-to-peer money transfer via mobile apps.
Calendar year 2023 has witnessed a steep decline in funding by Indian fintech startups, mainly led by decline in seed stage funding. The numbers of this year in terms of money being pumped into the sector matches that of the Pandemic year. However, on a global level India ranked 3rd in terms of Fintech startups …
Indian Fintech funding witnessed 63% decline in 2023: Report Read More »
The consolidation trend may manifest in various forms, including mergers or acquisitions of Non-Banking Financial Companies (NBFCs) by fintech firms, aiming to leverage established licences, capital, and networks.
This is Gurugram-based MobiKwik’s second attempt towards an initial public offering (IPO) after it abandoned its listing plans on account of weak market conditions.
The inception of Bitcoin traces back to a mysterious figure known as Satoshi Nakamoto, who introduced this groundbreaking digital currency through a whitepaper titled “Bitcoin: A Peer-to-Peer Electronic Cash System” published in 2008. Nakamoto’s vision centred on a decentralised financial system and the concepts elucidated in this document laid the foundation for a trustless, secure, …
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This shows a staggering growth for UPI payments service in the country which recorded around 74 billion transactions in 2022 and 38.7 billion transactions in 2021. Further, monthly transactions on UPI have seen an over 49% jump, between January to December, last year, data from NPCI showed. Read more here:
Platforms moving towards profitability are anticipated to attract a significant share of funding. Investors are likely to favour fintech models showing rapid growth.
The total volume in DeFi is currently $6.98 billion, 9.69% of the total crypto market 24-hour volume. The volume of all stablecoins is now $63.22 billion, which is 87.8% of the total crypto market 24-hour volume. Bitcoin’s dominance is currently 51.04%, according to CoinMarketCap. BTC volume in the last 24 hours rose 17.7% to $31.6 …
Crypto Price Today: Bitcoin trades above $45,200; Solana, Avalanche shed up to 4% Read More »
