UK-based blockchain-based wholesale payments firm, Fnality seeks to bridge the gap between mainstream and digital finance to cut the time and cost of settling, managing collateral and making payments for financial market transactions. It has raised around USD 95 million in a second round of funding and awaits for approval to begin operations.
Razorpay will seek clearance from the National Company Law Tribunal (NCLT) in the next two months to merge its American holding company with its India unit. It would then also officially appoint an auditor for the valuation discussions.
The Singapore FinTech Festival, hosted by MAS, will bring together global financial sector leaders amid geopolitical tensions, including Kristalina Georgieva, Ajay Banga, Ravi Menon, Mairead McGuinness, Balaji Srinivasan and Eric Jing.
At a panel discussion at ETBFSI Converge Summit 2023, fintech honchos offered a compelling narrative of innovation and adaptability in the ever-changing business and regulatory landscape.
At a panel discussion at the ETBFSI Converge Summit, fintech leaders said co-creation, smaller partnerships, and strategic collaborations reflect a dynamic ecosystem eager to leverage collective expertise for sustained growth.
Starting next year, fintech firms can only charge a maximum of 0.3% interest per day for a loan intended for consumption which will fall to 0.1% in 2026, the country’s Financial Services Authority (OJK) said. Currently the maximum is 0.4% interest per day.
While there has been a funding winter in startups over the past year, funding has seen an uprise in early stage deal funding and decline in late stage deals funding. FinTechs across the globe raised about USD 2 billion in October, while the top 20 deals summed up to about USD 1.28 billion.
InCred Holdings, the parent company of InCred Financial Services, has become a unicorn, valued at over $1 billion, after successfully raising Rs 500 crore from a group of investors that includes a global private equity fund, corporate treasuries, family offices, and ultra-high net worth individuals (UHNIs). Incred is the second startup to enter the Indian …
Fintech firm InCred 2nd unicorn in ’23 after Zepto Read More »
At ETBFSI Converge Summit 2023, CXOs of KreditBee, Thoughtworks, CredAble, Fedbank Financial highlight the paradigm shift in reaching a wider audience and financial inclusion.
A new study by Delhi-based think-tank Esya Centre has revealed that nearly 90% of crypto currency trading in India has shifted to offshore platforms after the government levied 1% tax deducted at source (TDS) on trading of virtual digital assets (VDAs) with effect from July 2022. Read on to know more:
