Pop has reached more than 1.5 million transactions since its launch. The app’s UPI rewards, via Popcoins, are merchant-funded and can be redeemed to buy products from direct-to-consumer (D2C) brands in categories such as beauty, personal care, electronics, fashion, and home goods – all housed within the Pop app.
In March 2022, the tech-driven composite debt platform formerly known as CredAvenue, raised $137 million in a Series B funding round led by New York-based VC firm Insight Partners. Following a secondary share sale, it attained unicorn status and was valued at $1.5 billion.
Mumbai (Maharashtra) [India], Navadhan is emerging as a unique Rural fintech platform focussed at under-banked MSMEs. In 2021, Navadhan launched its operations in Central Indian state of Madhya Pradesh where it has enrolled over 2 lakh rural-small-businesses (MSMEs) so far. Based on the success of the model, it has now announced its expansion in all …
“We believe a focus on disciplined financial management will help us continue in the progression towards profitability of our payments business which by itself is a unique feat in the Indian context,” said founder and CEO Sameer Nigam.
The focus is now on how effectively Paytm leverages the proceeds from the sale and any potential regulatory changes that could serve as the next price trigger for its stock.
Auxano, LetsVenture, Mavuca Capital, and angel investors Ruchi Deepak of Acko, Prashant Tandon of 1mg, and Pankaj Vermani of Clovia also participated in this round of equity and debt.
Cred, a Bengaluru-based fintech firm, has been certified by NPCI Bharat Billpay to operate as a customer operating unit on the Bharat Bill Payments System. This certification will facilitate partnerships and improve bill payments through the app.
The RBI imposed monetary penalties on fintech companies LenDenClub and LiquiLoans worth Rs 1.99 crores and Rs 1.92 crores respectively for digital lending non-compliance.
Axio raises $20 million in equity funding from Amazon Smbhav Venture Fund to to support further growth.
This follows the in-principle nod that the Naspers-backed fintech firm received from the RBI to operate as a payment aggregator, which allows it to onboard merchants onto its platform. In addition to the integration, PayU will introduce the Amazon Pay Later service on its offers engine platform.
