Explore the latest news, in-depth reports, and executive analysis tagged with #Fintech.
The round values the digital banking startup at $450 million, marking a steep decline from the $1.5 billion it commanded in 2022.
The approval marks another step in Zerodha’s strategy to diversify its business outside core stock broking.
ICICI Prudential Life Insurance Company was the largest buyer in the transaction, acquiring 1.03 crore shares worth nearly Rs 160 crore.
Karthik brings more than 25 years of experience spanning operations, technology, analytics, and risk management.
The latest deal comes days after another large block transaction on August 28, when nearly 2.95 crore Lenskart shares worth Rs 1,857 crore changed hands at Rs 630 apiece.
PayGlocal said that the FinCEN registration will help it build the compliance, banking and payments infrastructure needed to support its US operations.
Certain assets of the RemitX forex and cross-border business will be transferred to Niyo's subsidiary Kanji Forex.
The service will be available on select devices from Nokia, HMD, Lava International, and Itel Mobile, with more handset partnerships expected in the coming months.
As part of the deal, ITC Infotech will first buy a 22.1% stake in Happiest Minds for Rs 1,330 crore.
The Bengaluru-based fund is targeting a corpus of Rs 150 crore, with a Rs 50 crore greenshoe option.
The shares were picked up by a clutch of institutional investors, including Integrated Core Strategies (Asia), Singularity Large Value Fund III and F3 Advisors.
Before joining Pluto, Abhishek Singh was associated with Upstox’s insurance business and spent more than a decade at OneInsure.
Zerodha's margin trading funding (MTF) book has grown to around Rs 9,000 crore with customers borrowing around Rs 6,000 crore.
The funding round also saw participation from existing investors Arkam Ventures and Capital 2B.
The acquisition comes just months after C2i Semiconductors raised Series A funding led by venture capital firm Peak XV Partners.
The funding round also saw participation from India’s national badminton coach Pullela Gopichand, Darwinbox co-founder Rohit Chennamaneni, Swiggy co-founder Nandan Reddy and other angel investors.
The appointments have been approved by the company’s board, and the Reserve Bank of India (RBI) has also cleared Samir Sawhney’s appointment as Executive Director.
For this special edition, instead of dissecting business, we’re reflecting on something more personal — the state of journalism in the age of AI.
Along with the new role. Nare will continue as the company's Chief Financial Officer (CFO).
MobiKwik and Lendbox struck a deal where MobiKwik gave up Rs 24 cr in income for Q1 FY25, and in return, Lendbox waived Rs 42 cr in facilitation fees. These adjustments impacted MobiKwik's current quarter's revenue and expenses.
