PayU to widen fintech play, bets on cross-border payments, offline business

PayU to widen fintech play, bets on cross-border payments, offline businessNaspers-owned payments gateway PayU India is betting big on the fintech space in India. While its primary focus will be on payments, particularly cross-border payments, it is also entering the credit business and offline space. In an interaction with VCCircle, PayU co-founder and chief operating officer Shailaz Nag said that the Gurgaon-based company plans to […]

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ItzCash to strengthen hold in expense management, backs fintech startup Finly

For-THB-Story-TC_ThinkstockPhotos-520095558Mumbai-based digital payments company ItzCash Card Ltd has made an undisclosed equity investment in Bangalore-based expense management firm Finly. ItzCash will use the funds to strengthen its play in the expense management vertical, which is estimated to be a $25 billion opportunity for corporates in India, the company said in a statement. Founded by Veekshith […]

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Bharti Airtel picks stake in fintech startup Seynse

For-Airtel-Payment-Bank-Story_Mukul-Mudgal_feTelecom major Bharti Airtel has acquired a strategic stake in Goa-based financial technology startup Seynse Technologies Pvt. Ltd, it said in a statement. The value of the investment is not disclosed. Seynse has created the digital lending platform Loan Singh which provides consumers access to loans through its proprietary credit scoring engine, with a network […]

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French e-payments firm to buy fintech firm TechProcess

For-PayU-Story-TC_ThinkstockPhotos-512349742French e-payments firm Ingenico Group has agreed to buy Mumbai-based TechProcess Payment Services Ltd, the companies said on Tuesday, as Indian fin-tech companies continue to attract investors. The companies didn’t disclose the deal value, but a person associated with the transaction told VCCircle/Techcircle on the condition of anonymity that it was close to Rs 550-600 […]

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Exclusive: Online lending startup Loan Frame raises $2.25 mn seed investment

Loan FrameGurgaon-based fintech startup Loan Frame Technologies Pte Ltd has raised $2.25 million (Rs 15.3 crore) in seed investment led by Parag Saxena of Vedanta Capital, a top company executive told Techcircle. Other investors who participated in the round include Willian Campbell, former chairman of Chase Card Services, and Toos N Daruvala, co-CEO of MIO Partners, […]

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Payments startup instantPay secures pre-series A funding

pexels-photo-29781New Delhi-based SMSdaak India Ltd, which operates digital payments startup instantPay, has raised between $3 million and $5 million (Rs 20 crore to Rs 34 crore) in pre-series A funding from Singapore-based RB Investments and Kaleden Holdings. The capital will be utilised for geographic expansion and development of new products, a report in The Economic […]

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Exclusive: LetsMD raises additional angel investment

Funding_0008LetsMD, a fintech startup in the health space, has completed its angel round of investment with the participation of WaterBridge Ventures, co-founder Nivesh Khandelwal told TechCircle.in. Calcutta Angels Network (CAN), LetsVenture, a platform that connects startups with investors, Anupam Mittal, founder and chief executive of People Group, and Currae Healthtech Fund were the other investors […]

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Top 3 fintech mega trends impacting alternative asset management industry

Gurvinder-Image-(300-dpi)The key trends in the alternative asset management industry are all interrelated and represent a shift away from incumbent players reliant on largely analogue business models (i.e., those dependent on capital, people and specific locations) to a new set of digital disruptors. These disruptors will build their businesses from the ground up on cloud/mobile platforms, […]

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Fintech startup SERV’D gets $100K in investment

ThinkstockPhotos-539373306Fintech startup SERV’D, which provides financial services for the unorganised workforce, has received investment of $100,000 (Rs 67 lakh) from Digital Financial Service Lab (DFS Lab), a fintech incubator fully-backed by the Bill and Melinda Gates Foundation. The company, run by SERV’D Tech Pvt. Ltd, had participated in a bootcamp organised by the DFS Lab, […]

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