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Embedded finance means where financial services can exponentially expand customer reach by directly integrating within everyday consumer platforms, open digital networks and supply chains.
PeLocal, a payment solutions provider enabling e-commerce transactions through messaging platforms like WhatsApp, has secured $2 million in funding. The round was led by Unicorn India Ventures. The company aims to scale its monthly transactions from three million to ten million in the coming year.
Rio, in partnership with YES BANK and NPCI, launched the co-branded YES BANK Rio RuPay Credit Card and its UPI app. The card offers rewards, no fees, and a credit limit up to ₹5 lakh.
Chennai-based matchmaking service provider, Matrimony.com, has introduced a new financial technology platform designed to provide financial assistance for marriages. The platform offers comprehensive loan solutions through partnerships with leading financial institutions, aiming to simplify wedding planning and budgeting while prioritizing financial well-being.
In his new role, Mahajan will focus on scaling Yubi’s lender relations across private sector, PSU, and offshore markets. He will also lead initiatives to deepen the firm’s partnerships with stakeholders in financial services, including NBFCs, banks, and regulatory bodies.
The training programmes, set to commence in January 2025, are designed to equip professionals with industry-aligned skills essential for the modern financial sector, it said.
Bima Sugam India Federation has appointed Bharat Panchal as its Chief Risk, Security, and Stakeholder Management Officer. Panchal brings over 30 years of experience in risk management, having previously held leadership positions at Discover Financial Services, FIS Global, and NPCI.
The venture debt market in India is steadily growing, mirroring the early days of venture capital, particularly in the emerging startup sectors such as fintech and electric vehicles (EVs), a report showed on Thursday.
Unauthorised FinTech lenders, cyber fraud, regulation, compliance, and funding issues have emerged as the top risks for lenders and non lenders as per the survey conducted by FACE (FinTech Association for Consumer Empowerment) and Grant Thornton.
E-commerce AI startup BiteSpeed secured $3.5 million in funding to fuel its global expansion and enhance its AI-powered product suite. Meanwhile, AI-powered visa platform StampMyVisa raised Rs 6.6 crore to upgrade its technology, expand within India, and launch new offerings like visa rejection insurance and travel eSIMs.
