Author: yourfintech

Welcome to The Interchange! If you received this in your inbox, thank you for signing up and your vote of confidence. If you’re reading this as a post on our site, sign up here so you can receive it directly in the future. Every week, we’ll take a look at the hottest fintech news of the previous week. This will include everything from funding rounds to trends to an analysis of a particular space to hot takes on a particular company or phenomenon. There’s a lot of fintech news out there and it’s our job to stay on top of it — and…

Getvantage, which claims to be the first and only revenue-based financing and alternative funding platform in India to get an NBFC licence, says it will run lending operations through GetGrowth Capital, its shadow bank arm Chiratae Ventures-backed alternative financing fintech platform Getvantage has secured a non-banking financial company (NBFC) licence from the Reserve Bank of India (RBI), a development that will help the company scale up its financing operations. Getvantage, which claims to be the first and only revenue-based financing and alternative funding platform in India to get an NBFC licence, said on May 4 that it would run lending…

 (APAC) is set to overtake the United States as the world’s largest financial technology (fintech) market by 2030, according to a report by Boston Consulting Group (BCG) and QED Investors. The report, Global Fintech 2023: Reimagining the Future of Finance, predicts that APAC will have a compound annual growth rate (CAGR) of 27 percent, surpassing North America’s CAGR of 17 percent. The growth will be driven by Emerging APAC countries such as China, India, and Indonesia, which have a large population of underbanked individuals and a rising tech-savvy middle class. The region is also home to some of the largest…

There are dependably various ways to deal with overseeing individuals. A relatively straightforward and reactive strategy that went beyond the bounds of workforce agility and inclusive behavior has been used for years by huge corporations. To oblige the association’s interesting requirements and fabricate a profoundly determined labor force, HRs utilized a blend of colleagues, greatness and shared help communities. In the current market unpredictability and intricacy, ability chiefs are quickly developing their HR the executives techniques. The beginning of the worldwide Coronavirus pandemic has additionally brought about an uncertain business climate. As a result, it has been difficult to keep…

India’s fintech industry has grown phenomenally over the last few years. We are the third largest fintech ecosystem globally, after the United States and the United Kingdom. Today, New Age fintech startups are known for offering innovative solutions, and there has been a rise in strategic partnerships between the government and fintech companies, launch of new digital products, and state intervention in creating policies conducive for growth of fintech players. Despite two waves of the Covid-19 pandemic, the total value of investments in the global fintech space increased significantly between 2019 and 2021, led by the payments segment. In fact,…

Layoffs an ‘unfortunate but necessary’ step in the company’s path to become financially sustainable, said CEO Ujjwal Ankur Tickertape reported a loss of INR 16.4 Cr in FY22, while its revenue stood at a mere INR 3.01 Cr Tickertape has joined a growing list of fintech startups, which includes ZestMoney, Simpl, FamPay and Open, that have laid off employees in the past few weeks Fintech startup Tickertape has sacked nearly 30% of its workforce, or 29 employees, as part of an internal restructuring exercise. “Today was one of the most difficult days for me professionally – we at Tickertape had to…

Fintech platform Niro has raised Rs 90 crore in a Series A round of funding, which was a mix of equity and debt. The funding was raised from a host of investors including Elevar Equity, GMO Venture Partners, Rebright Partners, Mitsui Sumitomo Insurance VC, and others. Venture debt was funded by Innoven Capital. The venture debt has been funded by Innoven Capital Niro had raised $3.5 million (approximately Rs 28 crore) in October 2021 in a round led by Elevar Equity. The funds raised will be utilised to enhance and diversify Niro’s product offerings. The company will also expand its…

UK-based financial tech platform Tide, on Tuesday, launched an MSME Exchange Programme (MEP) to glocalise entrepreneurship and foster bonds between small business owners from India and the UK. Tide aspires to reach one million members by 2024. The firm currently has 50,000 members and intends to have a 2 lakh member base in the country this year, its India CEO Gurjodhpal Singh said. Addressing a press interaction here, he said the company plans to support 16 micro and small enterprises from both India and the UK to expand their operations in the coming months. Tide will choose two entrepreneurs/small business…

This article follows a piece I wrote that looked at six fintech ideas from the first decade of fintech that failed to go mainstream – algorithm-based buy/sell/hold advice, trade mimicking, P2P lending, P2P insurance, on-demand insurance, and standalone financial planning apps. But there’s more to the story. Given the intense interest in the fintech sector, it’s worth examining three more concepts that initially seemed promising, but largely failed to change the financial services industry. Before diving in, it is important to once again first define how we are categorizing “failure.” This article is not focused on highlighting the demise of…

The Africa Fintech Summit is pleased to announce Prosper Africa as a Gold Sponsor for Africa Fintech Summit in 2023 to be held in Washington DC on the 12th April 2023 at the Walter E. Washington Convention Center in Washington, D.C. Prosper Africa is the U.S. Government initiative to increase two-way trade and investment between the United States and African countries. The sponsorship comes at the heels of the US-Africa Leadership Summit (ALS) and the U.S.-Africa Business Forum, held last December in Washington, D.C. Recognizing the tremendous growth potential of Africa’s technology sector, President Joe Biden announced the launch of the White House’s Digital Transformation with Africa (DTA) initiative to expand digital access and literacy across the continent, and Prosper…