Fintech News

The fintech platform said that it had allocated 9.2 million shares at Rs 279 apiece. Around 21 funds invested through the anchor placement round, including around 10 domestic funds.

The Indian rupee has been depreciating with today’s value at 84.38 against the dollar, BookMyForex.com steps in with product offerings for forex purchases. Travellers can avail their “Lowest Rate Guarantee,” which promises double cashback on price differences, and the “Crazy Cashback Sale,” providing up to Rs 7,500 cashback on forex cards and currency notes.

Infinity was founded by two brothers, Sourav and Sidharth Choraria, in 2023. The startup concentrates on businesses engaged in cross-border sales, helping them receive international payments as they sell their products and services globally. Apart from payments, Infinity offers a treasury management solution that assists businesses in maximizing returns on idle cash.

The association emphasised that deep discounting presents substantial economic hurdles to the restaurant business.

The ‘FinBox Data Platform’ comes preconfigured with our data products. It covers bureau and alternate data sources to enable real-time intelligent underwriting for loan applications.

The ‘RuPay On-The-Go’ campaign highlights RuPay NCMC’s role as the ideal companion for dynamic individuals who value time and efficiency. By enabling multimodal utility across metros and buses, the campaign connects seamlessly with the everyday needs of commuters.

One MobiKwik IPO GMP: The initial public offering (IPO) of One MobiKwik Systems, a digital payments platform, will open on December 11, aiming to raise Rs 572 crore. The IPO features a price band of Rs 265-279 per share and includes a fresh issue of up to 2.05 crore equity shares.

Paytm’s shares surged over 3% after announcing the sale of its stake in Softbank’s PayPay Corporation. The divestment, valued around ₹2,000 crore, propelled Paytm’s market capitalization to nearly ₹64,110 crore, with shares hitting a 52-week high. This occurred amidst a slight dip in both the BSE Sensex and NSE Nifty.

Paytm is selling its 5.4% stake in Japan’s PayPay Corporation to SoftBank for an estimated $250 million, boosting its cash reserves. This move aligns with Paytm’s strategy of focusing on core payments and financial services businesses after divesting non-core assets like its entertainment ticketing platform.

VoloFin, a fintech platform, secured a $50 million funding line from a major global bank to support SMEs in India and globally. The company plans to expand operations, facilitate Indian export growth, and increase the funding limit to $150 million in the next few years.