Australia-based FINDI has acquired the fintech firm BANKIT for 30 million Australian dollars (approximately Rs 162 crore). This move supports FINDI’s commitment to enhancing financial access in rural and semi-urban India through their merchant network. BANKIT’s extensive network of over 1.29 lakh outlets across 28 states bolsters FINDI’s mission to serve the underbanked.
Amid a raging debate in India Inc over 90-hour work week, BharatPe CEO Nalin Negi has said that quality matters more when it comes to measuring outcomes and productivity of employees at workplace, not long hours clocked in, as he emphasised that fintech firm does not have such extreme work hour expectations.
The company plans to invest up to Rs 20 crore in each market to launch its merchant payment and financial services products, according to a regulatory filing. Paytm is among several Indian fintech firms expanding to the Middle East and Southeast Asia. It will explore organic expansions, partnerships, investments, and local licenses in these countries.
While the payments app reported a sharp fall in revenue year-on-year, it controlled costs in the December quarter which helped it check its overall losses. Employee benefit expenses, one of the major cost items for Paytm, stood at Rs 756 crore in this quarter, compared to Rs 1,187 crore a year back.
Pine Labs, Aye Finance, PayU, Avanse Financial Services andInnoviti, are among the prominent firms lined up for IPOs
What challenges do Indian FinTechs face when transitioning to public markets? With already very few of such entities listed, MobiKwik’s Co-founder & CFO, Upasana Taku, shares lessons from her IPO journey, emphasising the importance of investor confidence, regulatory navigation, profitability, and streamlined processes with insights on when to go public.
As we step into 2025, the fintech landscape in India is undergoing a profound transformation driven by the integration of Artificial Intelligence (AI) and Machine Learning (ML). These technologies are not just enhancing operational efficiencies but are fundamentally reshaping decision-making processes across various fintech applications.
UPI has 450 million users, with approximately 200 million active daily users, according to the Managing Director and CEO of the National Payments Corporation of India (NPCI). He highlighted that UPI has evolved into a crucial infrastructure layer, widely adopted by fintech companies, and currently processes around 17 billion transactions.
The initiative, which is a collaboration with Reserve Bank Innovation Hub and S.P. Jain Institute of Management and Research aims to empower fintech startups to tackle critical challenges, scale innovations, and enhance financial inclusion in India.
Through its partnership with Piramal Finance, MobiKwik users across India will now have the ability to apply for and easily access personal loans through the platform. The loan amounts for ZIP EMI will range from Rs 50,000 to 2 lakh. ZIP EMI is a personal loan service provided by the fintech firm.
