Paytm Q2 Results: Loss narrows to Rs 290 crore; revenue jumps 32% YoY
EBITDA (before ESOPs) further improved in the second quarter to Rs 153 crore as against Rs 84 crore in the first quarter.
Fintech News
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Google India launches ‘DigiKavach’ to combat online financial fraud
Google has collaborated with The Fintech Association for Consumer Empowerment (FACE) and onboarded them as a priority flagger to combat predatory digital lending apps on Play Store in India. The tech giant launched ‘DigiKavach’ at the 9th Edition of Google for India annual event taking place at Pragati Maidan, New Delhi.
Overseas remittance fintech HiWi raises Rs 7.5 crore funding from Unicorn India Ventures, others
The company said it aims to resolve issues around opacity in exchange rates, exorbitant forex margins, and documentation challenges for different sectors, including the study-abroad sector, as well as trade and finance for small and medium enterprises.
Amazon Pay introduces EMIs on rupay credit card to boost festive shopping
As India prepares to embrace the festive season with lucrative offers and deals, Amazon Pay introduces EMI on rupay credit cards to drive affordability and convenience of online shopping for customers in India.
Celesta Capital to play on front foot on startup investments
India is the most interesting place after Silicon Valley and it is an exciting time for India’s startup ecosystem, Kumar said.
Indian startups raised $3.1 bln across 243 deals in Q3 CY23, signals a slowdown: Report
The startup ecosystem has not only witnessed a funding winter over the past year, it also saw many known startup failures and regulatory challenges. A recent report by 1 Lattice (Prev PGA labs) indicated that there has been a significant slowdown in the volume and value of funds raised by Indian startups. Here’s what it …
Indian startups raised $3.1 bln across 243 deals in Q3 CY23, signals a slowdown: Report Read More »
More firms get approval for payment aggregator operations
The central bank has recently granted in-principle authorisation to a total of 37 existing payment aggregators and 23 new ones.
PhonePe FY23 revenues rise 77% to Rs 2,914 crore; payments business eyes operating profit
The company said the growth was primarily driven by market expansion, leadership in the digital payments market, and the launch and scale-up of products and businesses.
At just 10-12,000 transactions now, CBDC long away from RBI’s 1 million goal
One major hurdle appears to be a lack of awareness among users as many seem to be confusing CBDC with the Unified Payments Interface (UPI), which has hindered adoption.
FinTech Funding: Global FinTechs raised about $2.5 bln in September 2023
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 2.56 billion in September, while the top 20 deals summed up to about USD 1.8 billion.