Sector: Fintech
Shriram hires Chief Digital Officer from Bajaj Finserv
Shriram Capital has hired Ajay Thomas John as Group Chief Digital Officer to lead the digital transformation at the company. He has been hired from Bajaj Finserv where his last designation was Head – Digital Strategy, Transformation and Fintech. Key points to note – Shriram Capital (SC) is the holding company of Shriram Group comprising … Read more
Groww’s valuation hits $3 bn as start-up raises $251 mn in Series E round
Fintech unicorn start-up Groww’s valuation has reached $3 billion after a fundraise of $251 million, led by ICONIQ Growth, including participation from investors like Alkeon, Lone Pine Capital, Steadfast, and existing investors. The platform, which can be used to invest in direct mutual funds, stocks, ETFs and IPOs, currently has more than 20 million … Read more
Amex and Goldman Sachs are partnering up to pitch their biggest corporate clients on an easier way to manage and send payments
Amex and Goldman Sachs are linking up on a new business-payments feature. The firms are linking their data and offering combined payments processing for large corporations. It’s an effort to combine fragmented payments and accounts together in one place. American Express and Goldman Sachs are teaming up in the hopes of simplifying how the world’s … Read more
Pine Labs enters online payments with three products under one platform
Pine Labs, a leading merchant commerce platform, launched Plural on Thursday, marking its entry into the online payments space. Backed by years of strong technological capabilities, the company said it now aims to reinvent the space through a suite of online payment products focused on speed, security, and user experience. The firm said Plural is … Read more
We’re looking to onboard 20-25 mn wallets by March 2023: Bajaj Finance MD
Consumer financier Bajaj Finance, which launched its wallet business this July, is aiming to onboard 20-25 million wallets onto its fold by March 2023. The company is currently onboarding 800,000 to 1 million new wallets every month, managing director (MD) Rajeev Jain said. Addressing an analyst call organised by Morgan Stanley, Jain said, “We are … Read more
Kotak Mahindra Bank to acquire 9.9% in KFin
Kotak Mahindra Bank (KMB) has agreed to acquire 9.98% in KFin Technologies Private Limited (KFin) for a cash consideration of Rs 310 crore. Funds will be infused directly into the company via fresh share issue. Key points to note – KFin was earlier known as Karvy Fintech. However, in December 2019 it renamed itself to … Read more
Paytm to launch FASTag-based parking service across India, after DMRC facility
Digital payment and financial services firm Paytm plans to enable FASTag-based parking services across the country, after launching its first with the Delhi Metro Rail Corporation (DMRC). Paytm Payments Bank Ltd (PPBL) on Monday said it has enabled the country’s first FASTag-based metro parking facility in partnership with the Delhi Metro Rail Corporation (DMRC). “This … Read more
Prosus makes $4.7 billion bet on online payments in India
Amsterdam-listed Prosus, which is majority owned by South African holding company Naspers Ltd., said its payments and fintech subsidiary PayU will pay 345 billion rupees, equivalent to $4.72 billion, for BillDesk in an all-cash deal. Prosus shares rose 5% Tuesday following the announcement. The acquisition will bring Prosus’s cumulative investment in Indian tech to more … Read more