PayGlocal is an international payments-focused startup and has also applied for a cross-border payments licence. That application is still being processed by the central bank. The company expects to receive this licence in due course from the Reserve Bank of India (RBI).
While there has been a funding winter in startups over the past year, funding has seen an uprise in early stage deal funding and decline in late stage deals funding. FinTechs across the globe raised about USD 1.74 billion in August 2024, while the top 20 deals summed up to about USD 1.49 billion.
Secretary, DFS believed that India’s robust banking system is getting ready to meet the needs of Viksit Bharat. He highlighted the importance of Digital Public Infrastructure, the role of banks in inclusive growth, and the need for robust systems to manage risks and support future economic ambitions.
Fintech funding has seen a significant uptick in August, with a notable increase in the amount raised compared to the previous month. This surge in funding comes after a year of decline in fintech and tech startup funding, commonly referred to as a “funding winter.” Interestingly, early-stage deal funding has seen an increase, while late-stage …
FinTech Funding August 2024: Total $507 mln raised by Indian FinTechs Read More »
Some of Mobikwik’s investors have taken to social media channels like ‘X’ and Reddit to flag their concerns around changes in their investment terms and conditions. “Received an email today from MobiKwik regarding certain changes they have (made) to their P2P programme named ‘Xtra’ due to recent guidelines from the RBI. Now I can only …
P2P investors take to social media to vent against new RBI rules Read More »
Sopnendu Mohanty from the Monetary Authority of Singapore advised that Indian FinTechs should use China’s $600 trillion GMV as a benchmark for growth. He praised India’s regulatory progress but warned of future challenges, including maintaining market integrity and financial stability. Misallocation of capital and valuation inflation are some of the concerns. Watch the exclusive interaction …
Indian FinTechs should use China’s $600 Trn GMV as a benchmark: Sopnendu Mohanty Read More »
In a video shared by Ministry of External Affairs (MEA) official spokesperson Randhir Jaiswal, Secretary East Jaideep Mazumdar called PM Modi’s visit to Brunei “fruitful.” He said that Brunei Sultan received PM Modi at the royal palace and they held discussions on how to take forward the bilateral ties.
Mumbai (Maharashtra) [India], PayMate, India’s leading digital B2B payments company, has announced its partnership with NPCI Bharat BillPay Ltd. (NBBL) to launch the innovative PayMate BBPS-B2B platform. The BBPS-B2B platform seeks to enable large-scale standardization and digitization of commercial processes related to invoicing, payments, and collections across the nation while fostering an interoperable ecosystem between …
The report, titled ‘Indian Fintech Journey from Evolution to Mega Public Listings’, released on Tuesday, forecast that the combined revenue of Indian fintech firms will surge to $260 billion by the end of this decade, up from $20 billion currently. This growth would be driven by increasing consumption, deeper market penetration and advancements in artificial …
India to have 150 fintech unicorns with combined $500 billion valuation by 2030: report Read More »
Paysharp is an existing PA, which received RBI final authorisation on 30th August 2024 Friday followed by the in-principal PA license on December 2022. Paysharp is a 5 years old startup, raised two rounds of funding sum of 23 crores, last funding round was on March 2023 with the valuation of 200 crores. Paysharp holds …
