Fintech firm Lendingkart clocks 6 pc profit drop at Rs 175 crore in FY24
Fintech company Lendingkart has reported almost 6 per cent drop in profit after tax (PAT) at Rs 174.92 crore in FY24 from Rs 185.93 crore in FY23.
Fintech News
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One Card to raise Rs 240 crore from Better Tomorrow Ventures, Peak XV Partners and Z47
The round will see the Pune-based fintech get valued at around $1.1 billion, slightly lower than its 2022 valuation of $1.4 billion. Till date, One Card has raised $234 million from multiple large investors with Z47, Peak XV Partners and QED Investors having significant shareholding in the company.
Internationalisation of UPI progressing rapidly: RBI
The internationalisation of the unified payments interface (UPI) is progressing rapidly, as India emerges as a world leader in leveraging digital technologies for transformative change, according to a Reserve Bank of India (RBI) report.
How technology is streamlining B2B payment landscape in India
The system eliminates manual processes and reduces errors. Bharat Connect for Business improves efficiency, cash flow, and security for businesses of all sizes.
Flipkart co-founder Binny Bansal steps down from PhonePe board, marking complete exit from Walmart’s India business
Binny Bansal has left PhonePe’s board. He previously left Flipkart’s board. PhonePe appointed a new director, Manish Sabharwal. PhonePe separated from Flipkart. The company is preparing for an IPO. PhonePe leads India’s digital payments market.
UPI rules: UPI 123Pay transaction limit to increase from Rs 5,000 to Rs 10,000
UPI guidelines for UPI 123Pay features: UPI 123Pay is a Suite of solutions developed for Non Smart phone, feature phone users to use the UPI without internet connectivity. There are no charges for transactions under UPI 123PAY.
CredFlow secures $3.7 million in funding from Inflexor Ventures, others
CredFlow will use the capital to scale up its financial services and lending verticals, and to improve its technology and innovation capabilities, it said.
Paytm stock climbs after Bernstein raises target price to Rs 1,000
Bernstein raises Paytm target price to Rs 1,000, maintaining ‘Outperform’ rating. Optimistic outlook with potential 100% upside, but downside risk of 40% in bear case. Shares rise 2%.
Jaskaran Singh Kapany joins MobiKwik as chief marketing officer
Kapany began his career as a senior account director at JWT and then joined ICICI Prudential Life Insurance as vice president – marketing and e-commerce. Then, he joined Paytm as head of marketing.
EcoRatings gets SEBI license to provide ESG ratings to financial securities
ESG ratings enable investors to identify and mitigate potential risks linked to environmental, social, and governance factors, thereby reducing the likelihood of adverse impacts on their investments.