One 97 Communications, the operator of Paytm, said that the show-cause notice related to founder Sharma’s classification as a promoter was already disclosed in its financial results for March and June quarters. The company maintains it adheres to SEBI regulations regarding ESOPs and reported no financial impact from the notice.
Mumbai (Maharashtra) [India], Navadhan is emerging as a unique Rural fintech platform focussed at under-banked MSMEs. In 2021, Navadhan launched its operations in Central Indian state of Madhya Pradesh where it has enrolled over 2 lakh rural-small-businesses (MSMEs) so far. Based on the success of the model, it has now announced its expansion in all …
“We believe a focus on disciplined financial management will help us continue in the progression towards profitability of our payments business which by itself is a unique feat in the Indian context,” said founder and CEO Sameer Nigam.
Auxano, LetsVenture, Mavuca Capital, and angel investors Ruchi Deepak of Acko, Prashant Tandon of 1mg, and Pankaj Vermani of Clovia also participated in this round of equity and debt.
The focus is now on how effectively Paytm leverages the proceeds from the sale and any potential regulatory changes that could serve as the next price trigger for its stock.
The RBI imposed monetary penalties on fintech companies LenDenClub and LiquiLoans worth Rs 1.99 crores and Rs 1.92 crores respectively for digital lending non-compliance.
Cred, a Bengaluru-based fintech firm, has been certified by NPCI Bharat Billpay to operate as a customer operating unit on the Bharat Bill Payments System. This certification will facilitate partnerships and improve bill payments through the app.
Axio raises $20 million in equity funding from Amazon Smbhav Venture Fund to to support further growth.
This follows the in-principle nod that the Naspers-backed fintech firm received from the RBI to operate as a payment aggregator, which allows it to onboard merchants onto its platform. In addition to the integration, PayU will introduce the Amazon Pay Later service on its offers engine platform.
Stockify Fintech, a leading customer-oriented platform specializing in Unlisted and Pre-IPO shares in India, is excited to announce the expansion of its operations to Kolkata. This move aims to serve the rapidly growing business community in Eastern India, particularly in Tier 2 cities like Ranchi, Patna, Guwahati, Siliguri, Asansol, and Dhanbad.
