Singapore led the funding activity in 2024, with FinTech companies based there raising $955 million. Jakarta and Bangkok followed, with $242 million and $198 million raised, respectively.
In value terms, however, these new-age fintech lending startups had a share of only 12% of the total amount disbursed. Banks had the largest share at 61% and NBFCs, 27%.
The Directorate General of GST Intelligence conducted a search at a subsidiary of PB Fintech Limited, known for brands like Policybazaar, on January 13, 2025. The company stated that its operations remain unaffected and pledged full cooperation with authorities.
Walmart-backed PhonePe is poised to enter the quick commerce market, driven by growth prospects in the red-hot sector and its impending public listing, marking its third foray into online retail. After exiting the government-backed Open Network for Digital Commerce (ONDC) last year, PhonePe’s ecommerce venture, Pincode, has fully pivoted to the quick model.
FinTech NBFCs dominate personal loan volumes at 76 per cent but account for only 12 per cent of the sanction value as of H1 FY25. Banks retain 61 per cent of the transaction value, and traditional NBFCs contribute significantly. FinTech NBFC borrowers are predominantly young and from urban areas. Interestingly, ticket sizes of female borrowers …
FinTech loans account for 76% of sanction volume, 12% in value for H1FY25: FACE Read More »
Groww, the Bengaluru-based discount stock brokerage, is planning an IPO within the next 12 months, seeking a valuation of $6-8 billion. The company aims to raise $600-800 million through the offering. This move comes as regulatory changes affect the derivatives trading space, impacting revenues of brokers like Groww and its competitor, Zerodha.
The National Payments Corporation of India clarified that reports of the ‘Jumped Deposit’ Scam do not reflect breaches on the Unified Payments Interface platform. Transactions on UPI require user intervention, and no external party can withdraw funds without the user’s authorization, ensuring the platform’s security.
With the Union budget presentation for the next fiscal year around the corner, rural-focused fintechs have requested some tax sops and support from the Union government. The fintech industry wants the government to incentivise the rural economy further so that the post-Covid-19 bounceback continues to gather steam in rural India.
PhonePe has introduced an affordable insurance plan for travelers attending the 2025 Maha Kumbh Mela in collaboration with ICICI Lombard. The plan, available for Rs 59 for train/bus travelers and Rs 99 for air travelers, covers hospitalization, personal accidents, trip cancellations, and more, ensuring a safe pilgrimage.
PM Modi on Nikhil Kamath podcast: The PM also said if the youth of the country has one mobile phone in his pocket, he needs nothing else. “The youth of this country will remember that once, there was a technology-driven government which enabled a whole set of opportunities for me with just a phone.”
