Fintech

UPI’s transaction value has soared to Rs 101 lakh crore, reflecting its role as a primary enabler of real-time and secure payments.

Fintech major MobiKwik has received the green light from market regulator SEBI to launch its Rs 700-crore initial public offering (IPO), comprising fresh equity shares. The IPO, filed on January 4, 2024, aims to raise funds for expanding financial services, payment services, and investing in data analytics and technology.

Market caps will not only enhance competition but also encourage different players in the ecosystem to invest in innovative solutions and services that cater specifically to the needs of Indian consumers. Empowering the ecosystem through market caps will not only enhance competition, but it will also reinforce the autonomy and resilience of India’s digital payments …

UPI transactions: Lion’s share controlled by 2 foreign firms, Google Pay & PhonePe– should govt implement marketcaps? Read More »

The Delhi Police Economic Offences Wing has arrested Deepak Gupta, brother-in-law of BharatPe co-founder Ashneer Grover, over alleged fund misappropriation. His arrest is the second in this case following Amit Kumar Bansal’s detention in August. The FIR implicates Grover and his family in a Rs 81-crore fraud involving fictitious vendors and fraudulent transactions.

M2P Fintech is seeking a valuation of $600 million in the funding talks with Insight Partners. That’s nearly twice the valuation at which it raised funds from Tiger Global. Both the VC funds are seen in direct competition, as far as pace of dealmaking is concerned.

Rough estimates place private credit assets under management at around US$ 15 billion, said RBI Bulletin.

M2P Fintech is set to close a $80 million funding round with Helios Investment Partners leading the round and Bank Muscat participating. Some of its existing investors are participating in the round too. After the round, M2P Fintech could be valued at between $850 million and $900 million.

This job creation initiative comes on the heels of mPokket’s recent Rs 500 crore debt capital raise, which is meant to increase product development in career acceleration and insurance verticals. The company currently has 2,300 full-time employees.

Panelists at ETBFSI CXO Conclave spoke on the need for large-scale tech transformation, continuous system upgrades, and precise data-driven decision-making.

The investor and former BharatPe founder said the RBI’s mandate is to save banks, it has no compassion, no thought for fintechs.