Author: yourfintech

Increasing the contribution of renewal income to adjusted EBITDA and increasing profitability of new business owing to productivity improvement are some of the key drivers the company believes will help it in achieving its Rs 1,000 crore FY27 profitability guidance. Brokerage firm Morgan Stanley reiterated its overweight rating (buy) on PB Fintech while maintaining its price target at Rs 705 as earlier, implying an 18 percent upside over the closing price of Rs 595 recorded, Superior quality of business originated relative to the agency channel is a key differentiator,” management said during Morgan Stanley’s India Financials Trip event. Policy Bazaar accounts for 70…

UAE-based fintech startup Sav has raised $750,000 in a pre-seed funding round led by angel investors and fintech firms in the Middle East and North Africa (MENA) region.   The raised capital will allow Sav to reach more users and further enhance the user experience, said Purvi Munot, CEO of Sav, in a statement shared by Wamda. Founded by Munot in 2021, Sav allows users to set personalized savings plans. With these, users can track their progress, and get rewards upon meeting savings goals. The company claims users on all have set saving goals upwards of AED 20 million ($5 million).…

Finsire, a Chennai-based fintech startup, has raised $1.3 million in a seed round from a clutch of investors. The round saw participation from iSeed, Spark Capital, Devx, 1947 Rise, Adept ventures, Portal angel investors, Purple Matters, DeVC India, and Lets Ventures.  Razorpay and Mars Shot Ventures co-founders Shashank Kumar and Harshil Mathur and Groww CEO Lalit Keshre are among the angel investors who joined the round as well.  Finsire plans to use the fresh capital towards increasing the team size, building more products, and serving numerous integrations in the pipeline. Started by Shreyans Nahar, Mridul Manhas, and Subramaniam Chintamani in August…

IIM Calcutta is ranked third in the NIRF Management Rankings 2022 and its alumni are highly sought-after in leadership positions across industries. The curriculum has been developed with an astute awareness of the increasing demand for FinTech services in the market Efficiency, inclusiveness, convenience, and transparency — the world of finance is being reshaped on the foundation of these four pillars. The way financial institutions function has changed drastically in the past decade and this transformation is going to continue in the coming decades as well. Advanced technologies like Artificial Intelligence, Machine Learning, Distributed Ledger Technology (DLT), Cloud computing, and…

The Silicon Valley Bank (SVB) crisis has rocked the start-up ecosystem. However, fintech major Razorpay had a slew of solutions for all the Indian start-ups that are worried about their money being parked with the bank. In a post on the social media platform Twitter, the company said, “It’s crucial for start-ups impacted by the SVB crisis to prepare for moving funds and deal with liquidity. Over the next 48 hours here’s how we can help you.” The post further listed a few things start-up entrepreneurs can do to bail themselves out of the crisis. This includes becoming ‘Fund Movement…

Fintech startup Brex received billions of dollars in deposits from Silicon Valley Bank customers on Thursday, CNBC has learned. Other companies including JPMorgan Chase, Morgan Stanley, and First Republic also saw heightened inflows Thursday, as SVB’s stock tanked amid VC-fueled concerns of a bank run. The exodus of deposits put increased pressure on SVB, which attempted to raise equity funding earlier this week and had turned to a potential sale, CNBC reported. Regulators shut down the bank Friday Fintech startup Brex received billions of dollars in deposits from Silicon Valley Bank customers on Thursday, CNBC has learned. The company, itself…

Co-living startup Settl revenue is set to jump three-fold to around Rs 20 crore this fiscal and is looking to raise USD 2 million (about Rs 16.40 crore) to expand business, its Co-Founder Abhishek Tripathi said. He said the demand for managed rental accommodations has increased significantly in the last one year with the opening up of the office and educational institutions post Covid. The co-living segment was affected badly during 2020 and 2021 calendar years due to the Covid pandemic. Started in 2020, Settl has 2,000 beds across 35 properties in Bengaluru, Hyderabad and Gurugram. It mainly caters to…

From Maria Campbell, COO of Griffin, to female fintech leaders across the sector spectrum, we find out how the space has changed In celebration of International Women’s Day 2023, we’ve rounded up some of the top women in fintech, occupying leadership roles and driving change within the industry. Their journeys have all been different, and have included numerous challenges, but the fintech industry is stronger today as a result of their perseverance. Maria Campbell, COO of Griffin When we think about the progress women have made in the last few decades, it can be easy to concentrate on what more needs…

Supply-chain financing platform Mintifi on Wednesday said it has raised $110 million (Rs 902.5 crore) in its Series D funding round led by PremjiInvest, the private investment vehicle of Wipro Ltd founder chairman Azim Premji. Existing backers Norwest Venture Partners, Elevation Capital and International Finance Corporation (IFC) also participated in the round, which is largely a primary infusion of capital into the company. “Some early backers and ESOP holders will cash out as part of the fundraise,” said Anup Agarwal, chief executive of Mintifi.  The startup did not disclose its valuation after the fundraise. In all, Mintifi has raised Rs 1,200 crore in equity…

The Fintech sector, despite the challenges brought about by the pandemic at its outset, has bounced back on its feet and is growing at an unprecedented rate. A major reason for this growth is that it has overcome the challenges which characterized the traditional banking systems, thanks to tech integration and customer-centric policies. Information and financial assistance, including loan procurement, is more simple and more equitable, due to the existence of Fintech companies. There have also been several trends that have emerged in the recent past in Fintech. As we gear up for the new year, here are some of…