Insurtech startup Coversure raised $4 million in pre-series A funding led by Enam Holdings. They plan to build a consumer-centric insurance engagement platform using data intelligence and machine learning capabilities.
This decline brings the total investments in the fintech space for 2024 to $203 million, according to a report by Digital Fifth.
Business-to-business (B2B) banking tech startup Gravity will use the fresh capital to strengthen “our engineering strength to build the product and take it to the next version, offering the best in product engineering we can,” cofounder and chief executive Satish Krishnaswamy told ET.
FinTech Industry experts appreciated RBI’s focus on baseline level of compliance for P2P lending companies with improved risk assessment models and adequate disclosures to investors. However, the leaders also highlighted that this will bring in increased compliance, and thus, investors will have for factor in the compliance costs.
Troubled fintech Paytm will increase focus on insurance distribution. It had earmarked Rs 950 crore to invest in the entity applying for the general insurance licence but it now expects to conserve that cash. The Noida-headquartered company will focus on distributing small ticket-size insurance products such as life, health, motor, shop and gadgets.
The legal battle began in 2018 when PhonePe issued a legal notice to BharatPe, asking the latter to stop using ‘Pe’ in Devanagari script in their brand name.
The company is bullish on the Unified Payments Interface (UPI) along with card processing and EMI payments, viewing them as pivotal Jrivers for its business growth.
Users are now spending over Rs 22,000 monthly using this payment method, according to a report by the firm.
Payment and financial services company Paytm on Friday said that it is bullish on Unified Payments Interface (UPI) alongside card processing and EMI payments to drive its payment services business.
On the suggestion of petitioners’ counsel, the court allowed Grover to travel to the USA from May 26 to June 12 and his wife Madhuri Jain Grover from June 12 to July 1.
