Fintech News

Groww pays Rs 34 lakh to settle SEBI case linked to tech glitch

Groww pays Rs 34 lakh to settle SEBI case linked to tech glitch

19 May 2025, 15:03 PM

The case stemmed from a technical glitch that occurred on January 23, 2024, which rendered Groww’s brokerage services inaccessible during trading hours.

BillDesk co-founder MN Srinivasu is new IAMAI chairman

BillDesk co-founder MN Srinivasu is new IAMAI chairman

13 May 2025, 15:01 PM

Razorpay CEO Harshil Mathur and PhonePe CEO Sameer Nigam have been appointed vice chairman and treasurer of the industry body, respectively.

PhonePe system faced UPI payment failures due to tech glitch

PhonePe system faced UPI payment failures due to tech glitch

13 May 2025, 13:25 PM

PhonePe co-founder Rahul Chari said that the company has initiated active DR drills, with heightened cybersecurity measures on its network firewall.

BillDesk reports decline in FY24 revenue, profits

BillDesk reports decline in FY24 revenue, profits

13 May 2025, 13:04 PM

BillDesk posted a 14.8% drop in profit to Rs 121 crore in FY24, from Rs 142 crore in FY23.

Paytm financials: FY25 revenue dips 31% to Rs 6900 crore; loss narrows 50%

Paytm financials: FY25 revenue dips 31% to Rs 6900 crore; loss narrows 50%

08 May 2025, 15:49 PM

In FY25, revenue from payments services declined 37% yoy to Rs 3,879 crore; financial services revenue down 15% to Rs 1,703 crore.

General Catalyst leads $218 million seed round in PB Fintech's healthcare unit

General Catalyst leads $218 million seed round in PB Fintech's healthcare unit

08 May 2025, 14:50 PM

The funding will be used to establish PB Health's first hospital network in the Delhi NCR and to accelerate product development and technology innovation.

Fino Bank reports growth in FY25 revenues, net profit

Fino Bank reports growth in FY25 revenues, net profit

08 May 2025, 14:38 PM

The bank's net profit grew to Rs 92.5 crore during the period, from Rs 86.2 crore in FY24.

Kaleidofin raises $5.3 million round led by IDH Farmfit Fund

Kaleidofin raises $5.3 million round led by IDH Farmfit Fund

02 May 2025, 16:34 PM

The funding will be used to expand its lending portfolio, as well as enhance its credit scoring, middleware, and risk services through new partnerships.

FM Nirmala Sitharaman asks NPCI to address infra gaps to curb UPI outages

FM Nirmala Sitharaman asks NPCI to address infra gaps to curb UPI outages

30 Apr 2025, 23:03 PM

Union Minister for Finance and Corporate Affairs Nirmala Sitharaman chaired a meeting to review various aspects and the way ahead for the UPI ecosystem.

Perfios acquires health insurance tech firm IHX

Perfios acquires health insurance tech firm IHX

30 Apr 2025, 22:48 PM

The acquisition of IHX follows Perfios’ recent strategic acquisitions of two companies, Clari5 and CreditNirvana.

MobiKwik's Zaakpay gets final nod from RBI to operate as payment aggregator

MobiKwik's Zaakpay gets final nod from RBI to operate as payment aggregator

30 Apr 2025, 22:32 PM

In October 2023, the firm had received in-principle authorization from the RBI to operate as a payment aggregator.

Paytm's First Games receives Rs 5,712 crore GST notice

Paytm's First Games receives Rs 5,712 crore GST notice

29 Apr 2025, 14:44 PM

First Games said it will file a writ petition challenging the proposed liability of Rs 5,712 crore along with applicable interest and penalties.

PB Fintech invests Rs 539.4 crore in healthcare unit

PB Fintech invests Rs 539.4 crore in healthcare unit

25 Apr 2025, 17:45 PM

Following this round, PB Fintech’s holding in PB Healthcare will decline from 100% to 32.14% due to the entry of external investors.

MobiKwik sets up wholly-owned unit to operate as an NBFC

MobiKwik sets up wholly-owned unit to operate as an NBFC

25 Apr 2025, 17:35 PM

The Gurugram-based fintech firm will now be required to apply for an NBFC licence from the RBI in order to operate as a non-banking financial company.

Pine Labs promotes CEO Amrish Rau to MD and chairman ahead of IPO

Pine Labs promotes CEO Amrish Rau to MD and chairman ahead of IPO

25 Apr 2025, 17:27 PM

Rau -- who took over as CEO of Pine Labs in March 2020 -- will also continue to serve as the CEO the Peak XV-backed fintech firm.

SME lender Finodaya Capital raises $2.5 million led by White Venture Capital

SME lender Finodaya Capital raises $2.5 million led by White Venture Capital

25 Apr 2025, 17:16 PM

Finodaya will operate on a hybrid “phygital” model, blending digital services with a physical branch presence to streamline loan disbursement and underwriting.

PhonePe becomes public entity ahead of its $15-billion IPO

PhonePe becomes public entity ahead of its $15-billion IPO

20 Apr 2025, 21:08 PM

The firm's name has now been updated from “PhonePe Private Limited” to “PhonePe Limited”.

Razorpay converts into public entity amidst reverse flipping back to India

Razorpay converts into public entity amidst reverse flipping back to India

20 Apr 2025, 20:55 PM

This development follows the recent approval of the merger between Razorpay Inc. and Razorpay India by the Regional Director in Hyderabad.

Varthana raises Rs 75 crore in debt funding from OfBusiness, others

Varthana raises Rs 75 crore in debt funding from OfBusiness, others

20 Apr 2025, 20:27 PM

OfBusiness and Oxyzo invested Rs 27.5 crore each, while Ambium Finserve and IKF Finance contributed the remaining Rs 20 crore.

Phi Commerce raising $5 million from existing investors

Phi Commerce raising $5 million from existing investors

17 Apr 2025, 17:41 PM

The company is raising funds through a rights issue from its existing investors, likely including BEENEXT and Opus Technologies.

Fintech Highlights

  1. Crypto exchange CoinDCX loses $44 million in hack

  2. Altum Credo raising additional Rs 100 crore in extended Series C funding

  3. Paytm Money to rope in HDFC Securities executive as CEO: report

  4. Flipkart-owned Super.money entering stock broking space

  5. Jupiter Money gets IRDAI approval to enter insurance distribution space
  6. Read more news...

AI/Emerging Tech

  1. Nvidia's H20 AI chip stock for China falls short

  2. Anysphere acquiring top engineers from AI-powered CRM startup Koala

  3. Perplexity ties up with Bharti Airtel to provide 12-month free Pro subscription

  4. Meta ropes in two senior Apple AI researchers

  5. OpenAI launches proactively thinking and acting ChatGPT agent
  6. Read more news...

Editor's Pick

  1. RBI vs Government: The battle over India’s digital payments ecosystem explained

  2. What led Google-backed DotPe to shut down its lending unit

  3. Madras HC grants anticipatory bail to Strata founder in email impersonation case
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