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The same fate of two digital lending posterboys; Healthcare not AI ready?

The same fate of two digital lending posterboys; Healthcare not AI ready?

30 Sep 2025, 14:06 PM

Sep 12th Edition: How Capital Float (now Axio) and Lendingkart, in 2025, found themselves meeting the same fate; and why India’s healthcare is not ready for the AI and robotics revolution yet.

Reliance

Reliance's startup moment; Amazon, Flipkart's NBFC play

30 Sep 2025, 13:57 PM

Sept 5th Edition: We track Mukesh Ambani’s entry into a novel business that even big tech businesses are trying to make sense of; and the country’s top marketplaces’ credit bet.

Avanse net profit jumps 47% to Rs 502 crore in FY25

Avanse net profit jumps 47% to Rs 502 crore in FY25

11 Sep 2025, 12:55 PM

The company’s assets under management (AUM) stood at Rs 18,985 crore as on March 31, 2025 as compared to Rs 13,303 crore in the previous financial year.

Arohan Financial Services appoints Milind Nare as Deputy CEO, Ketan Agrawal as Deputy CFO

Arohan Financial Services appoints Milind Nare as Deputy CEO, Ketan Agrawal as Deputy CFO

26 Aug 2025, 17:08 PM

Along with the new role. Nare will continue as the company's Chief Financial Officer (CFO).

NBFC CredRight raises $10 million in Series B funding

NBFC CredRight raises $10 million in Series B funding

26 Aug 2025, 12:09 PM

The investment also saw participation from existing investors Michael & Susan Dell Foundation and Unleash Capital.

Avanse Financial Services raises $200 million in debt via ECB

Avanse Financial Services raises $200 million in debt via ECB

21 Aug 2025, 11:29 AM

The loan was raised from a syndication of banks from Taiwan, Japan, Singapore, Sri Lanka, the UAE, and India.

Kissht files draft paper for IPO, eyes Rs 1,000 crore via fresh issue

Kissht files draft paper for IPO, eyes Rs 1,000 crore via fresh issue

19 Aug 2025, 18:41 PM

Kissht plans to allocate around Rs 750 crore to strengthen the capital foundation of its non-banking financial company subsidiary, Si Creva.

IPO-bound SME lender Aye Finance posts Rs 1500 crore in revenue in FY25

IPO-bound SME lender Aye Finance posts Rs 1500 crore in revenue in FY25

04 Aug 2025, 15:51 PM

The profit during the financial year, ended March 31, 2025, stood at Rs 171 crore, compared to Rs 161 crore in FY24.

MSME lender Kinara Capital hit by liquidity crisis after lenders set off Rs 81 crore

MSME lender Kinara Capital hit by liquidity crisis after lenders set off Rs 81 crore

03 Aug 2025, 22:38 PM

After posting a profit of Rs 62 crore in FY24, the nbfc Kinara Capital swung to a loss of Rs 351 crore in FY25.

Digital lender KreditBee converts into public entity ahead of IPO

Digital lender KreditBee converts into public entity ahead of IPO

24 Jul 2025, 13:43 PM

The company has also recieved the RBI nod to merge its technology arm Finnovation Tech Solutions into NBFC Krazybee Services.

IPO-bound digital lender Ring (Kissht) sees FY25 profit dip, disbursements halved

IPO-bound digital lender Ring (Kissht) sees FY25 profit dip, disbursements halved

24 Jul 2025, 13:10 PM

Ring's parent entity OnEMI's total income also fell to Rs 1,353 crore during FY25, against Rs 1,700 crore in the year ago period.

Partners Group to pick majority stake in Infinity Fincorp for Rs 1,950 crore

Partners Group to pick majority stake in Infinity Fincorp for Rs 1,950 crore

10 Jul 2025, 16:58 PM

The deal includes a primary capital infusion of Rs 600 crore with participation from existing investor Jungle Ventures.

Credit Wise Capital secures Rs 200 crore funding led by Trident Growth Partners

Credit Wise Capital secures Rs 200 crore funding led by Trident Growth Partners

09 Jul 2025, 11:39 AM

The fresh capital will help the company boost its secured loan portfolio, strengthen its proprietary SaaS lending platform and expand its presence in underserved regions.

InPrime Finserv bags fresh funding led by Pravega Ventures

InPrime Finserv bags fresh funding led by Pravega Ventures

08 Jul 2025, 10:59 AM

The Bengaluru-based startup, operated by STK Credit Pvt Ltd, will use the fresh capital for geographical expansion in the country.

At a Glance: Fintechs rule personal loan volume, but bank-like on gender thinking

At a Glance: Fintechs rule personal loan volume, but bank-like on gender thinking

03 Jul 2025, 13:32 PM

Of the total, only 12% or Rs 1,06,548 crore of the overall value of personal loans accounted for fintech NBFCs in FY25.

Mahaveer Finance raises Series C funding from Elevation Capital, others

Mahaveer Finance raises Series C funding from Elevation Capital, others

19 Jun 2025, 11:55 AM

The fresh capital will be used to boost its presence in southern India, enhance its proprietary credit infrastructure, and expand its lending to underbanked customer segments.

Techfino secures Rs 65 crore funding from Stellaris, Saison

Techfino secures Rs 65 crore funding from Stellaris, Saison

18 Jun 2025, 11:43 AM

The Bengaluru-based company will use the capital to double its branch network from 30 to 60 branches in the next 12 months.

Walmart-owned Flipkart gets NBFC licence from the Reserve Bank of India

Walmart-owned Flipkart gets NBFC licence from the Reserve Bank of India

06 Jun 2025, 11:18 AM

This is the first time the central bank has granted a large e-commerce player in India a lending licence.

Moneyview converts into public entity ahead of IPO

Moneyview converts into public entity ahead of IPO

04 Jun 2025, 14:41 PM

The digital lender is eyeing an IPO to raise over $400 million and has reportedly appointed Axis Capital, Kotak Mahindra, and others as its banking partners.

Zerodha

Zerodha's NBFC unit posts Rs 36 crore revenues, Rs 12.5 crore net profit for FY25

30 May 2025, 22:05 PM

The rating agency ICRA said Zerodha Capital witnessed a "healthy" scaleup in its loan against securities book to Rs 381 crore as on December 31, 2024.

OfBusiness

OfBusiness' lending unit Oxyzo posts increase in FY25 revenue, profit

29 May 2025, 21:49 PM

Oxyzo, which provides credit solutions and loans to SMEs, earned Rs 1,141 crore from interest income, which is about 95% of the total revenue.

MSME lender Saarathi Finance raises Rs 350 crore in funding

MSME lender Saarathi Finance raises Rs 350 crore in funding

29 May 2025, 16:05 PM

TVS Capital Funds, Lok Capital, Evolvence Equity Partners, Paragon Partners, and other angels collectively invested about Rs 350 crore in the NBFCs.

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.

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.

Exclusive: BharatPe reshuffles leadership at NBFC arm Trillion Loans

Exclusive: BharatPe reshuffles leadership at NBFC arm Trillion Loans

16 Apr 2025, 14:40 PM

The Gurugram-headquartered fintech has appointed a new CEO of Trillion Loans, and moved its key personnel to the NBFC unit, effective immediately.

Junio founder

Junio founder's new venture gets NBFC licence

06 Apr 2025, 17:55 PM

Securis Finance aims to offer education loans to teenagers across India.

Beams Fintech Fund participates in Infinity Fincorp’s $40 million Series A round

Beams Fintech Fund participates in Infinity Fincorp’s $40 million Series A round

02 Apr 2025, 17:29 PM

Infinity will use the capital for expanding the loan book and establishing deeper presence across the six states.

Fintech NBFCs sanctioned 8.3 crore loans worth Rs 81,365 crore between Apr-Dec 2024

Fintech NBFCs sanctioned 8.3 crore loans worth Rs 81,365 crore between Apr-Dec 2024

28 Mar 2025, 21:02 PM

However, quarter-on-quarter sanction value declined by 15% in Q3 FY24-25 compared to Q2 FY24-25.

RBI invites applications for SRO in account aggregator space

RBI invites applications for SRO in account aggregator space

17 Mar 2025, 19:16 PM

In its notification, the central bank said that the interested parties should apply through the PRAVAAH portal before June 15.

Student lending platform Kuhoo Finance gets NBFC licence from RBI

Student lending platform Kuhoo Finance gets NBFC licence from RBI

12 Mar 2025, 20:03 PM

Over the past two and a half years, Kuhoo Finance has processed more than 100,000 student applications and facilitated loans worth over Rs 300 crore for 15,000 borrowers.

Indifi posts revenue jump in FY24; profit declines

Indifi posts revenue jump in FY24; profit declines

07 Mar 2025, 19:54 PM

Indifi’s cost of bad debt written off surged two times to Rs 45 crore in FY24.

BharatPe’s NBFC Trillion Loans FY24 statement: Auditor flags ‘material weakness’ in financial controls

BharatPe’s NBFC Trillion Loans FY24 statement: Auditor flags ‘material weakness’ in financial controls

25 Feb 2025, 13:26 PM

The NBFC had reported Rs 232 crore in operating revenue in its 2023 financial statement, but its FY24 filings now show revenue of Rs 109 crore for the same period.

OfBusiness

OfBusiness' lending arm Oxyzo secures Rs 100 crore in debt

25 Feb 2025, 03:19 AM

The proceeds will be used to augment the long-term resources of the company and meet working capital requirements.

PhonePe plans to surrender account aggregator (NBFC-AA) licence

PhonePe plans to surrender account aggregator (NBFC-AA) licence

07 Feb 2025, 21:31 PM

The fintech giant plans to exit the account aggregator (AA) space, and said it will partner with other AAs.

SME lender BizLoan raises Rs 35 crore from Michael & Susan Dell Foundation, others

SME lender BizLoan raises Rs 35 crore from Michael & Susan Dell Foundation, others

28 Jan 2025, 19:52 PM

The NBFC aims to expand its footprint, particularly in underserved markets, enhance its loan product offerings, and invest in advanced technology...

RBI cancels NBFC licence of X10 Financial, backer of 30 digital loan apps

RBI cancels NBFC licence of X10 Financial, backer of 30 digital loan apps

22 Jan 2025, 18:52 PM

X10, according to the RBI, violated guidelines on the code of conduct in outsourcing of financial services in its digital lending operations.

Amazon to acquire digital lender Axio (Capital Float)

Amazon to acquire digital lender Axio (Capital Float)

17 Jan 2025, 02:22 AM

Once the acquisition receives regulatory approval, it will make Amazon the first big tech company in India to gain access to an NBFC license through Axio.

Infinity Fincorp raises $35 million from Jungle Ventures, others

Infinity Fincorp raises $35 million from Jungle Ventures, others

10 Jan 2025, 00:38 AM

This investment boosts Infinity’s net worth to Rs 530 crore, the company said in a statement.

RBI lifts loan disbursal restrictions on DMI Finance, Asirvad Micro Finance

RBI lifts loan disbursal restrictions on DMI Finance, Asirvad Micro Finance

09 Jan 2025, 23:44 PM

In October, the banking regulator had barred four NBFCs to "cease and desist" from sanction and disbursal of loans.

InCred Finance eyes Rs 4000-5000 crore IPO next year; appoints CFO

InCred Finance eyes Rs 4000-5000 crore IPO next year; appoints CFO

24 Dec 2024, 22:48 PM

Last week, InCred Finance, the consumer and MSME lending arm of the InCred Group, appointed Gaurav Maheshwari as its chief financial officer.

SME lender Aye Finance board approves IPO plan

SME lender Aye Finance board approves IPO plan

14 Dec 2024, 05:17 AM

Aye Finance has received its board approval to launch Rs 1450 crore ($174 million) initial public offering (IPO).

Digital lender Avanti Finance raises $14.2 million from Dia Vikas Capital, others

Digital lender Avanti Finance raises $14.2 million from Dia Vikas Capital, others

11 Dec 2024, 16:15 PM

Existing investors IDH Farmfit Fund, NRJN Family Trust, Rabo Partnerships and select HNIs.

Education-focussed lender Varthana raises $15 million from BlueOrchard

Education-focussed lender Varthana raises $15 million from BlueOrchard

11 Dec 2024, 15:57 PM

The funding will be used to expand the NBFC's lending portfolio, providing private schools and vocational students in tier II and tier III cities...

The curious case of Jammu-Based NBFC,

The curious case of Jammu-Based NBFC, 'Mahashakti Financiers'

10 Dec 2024, 15:07 PM

The Pandora’s box opened when the Reserve Bank of India called the new directors of this NBFC to a meeting on November 8…

RBI lifts ban on Sachin Bansal-led Navi Finserv

RBI lifts ban on Sachin Bansal-led Navi Finserv

02 Dec 2024, 23:19 PM

In October, the banking regulator had barred Navi Finserv and three other NBFCs to "cease and desist" from sanction and disbursal of loans.

SME lender Lendingkart sees marginal fall in FY24 profit

SME lender Lendingkart sees marginal fall in FY24 profit

26 Nov 2024, 23:36 PM

Revenue from co-lending - which accounted for 54% of the operating revenue - jumped by 88% to Rs 591 crore in FY24.

RBI bars fintech lenders Navi, DMI Finance, and others from issuing new loans

RBI bars fintech lenders Navi, DMI Finance, and others from issuing new loans

18 Oct 2024, 00:50 AM

This action, according to the RBI, is based on material supervisory concerns observed in the Pricing Policy of these companies.

Exclusive: Amazon-backed Axio closing $20 million fundraise

Exclusive: Amazon-backed Axio closing $20 million fundraise

22 Aug 2024, 17:26 PM

The Bengaluru-based Axio (previously known as Capital Float) is close to securing $20 million in a new equity round.

RBI amends P2P lending guidelines

RBI amends P2P lending guidelines

16 Aug 2024, 22:27 PM

After observing some peer-to-peer lending platforms violating the RBI's guidelines, the central bank has announced modifications to the master directions of NBFC-P2P.

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