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PhonePe has emerged as the lowest bidder, but the economics behind the mandate raise questions about how much the company is willing to pay for growth.
The funding round saw participation from DoorDash, Lachy Groom, Lightspeed and Humba Ventures.
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.
Nexedge plans to use the fresh capital to strengthen its technology platform, expand its senior banker network and increase its presence across India, including in tier-II and tier-III cities.
The Japanese financial services group took the decision to wound down its lending-infrastructure business in December.
The value of securities brokers and dealer transactions via the unified payments interface (UPI) jumped 21.01% month-on-month to Rs 73,752.37 crore in July from Rs 60,945.24 crore in June.
Pando.ai will continue to operate as a separate brand, with its existing product and company identity.
The round also saw participation from existing investors Notable Capital, NEA, Neo Ventures and 8VC, along with new investors Acrew, Forerunner, Goodwater and Peak XV.
The transaction marks Y Combinator’s second significant share sale in Groww this year after the six-month lock-in period for investors ended following the startup's listing late last year.
The investment comes as the Sachin Bansal-led fintech firm prepares to file documents for initial public offering.
The company has appointed former Bajaj Markets executive Manish Pathania to lead the digital lending business.
The acquisition is expected to bolster DSP Finance’s offerings in loans backed by financial assets, particularly mutual funds.
The court said police can freeze bank accounts during an investigation without prior Magistrate approval, while also upholding scrutiny of Jar’s digital-gold business under criminal law.
In this edition of Money & Machines, we look to our Father of our Nation Mahatma Gandhi as the country remembered him on his birth anniversary on October 2.
In addition, the company raised Rs 110 crore in debt from IDFC and Axis Bank.
Foxhog and its CEO Tarun Poddar are swiftly stepping into government corridors, IIT campuses, and media conclaves – all to burnish their image as a VC player.
The company aims to raise around Rs 1,200 crore via the IPO, which will comprise of primary and secondary components.
The fintech company has also elevated Dhruv Wadhera as Senior Vice President (SVP), Offline Payments.
According to Sebi, directors failed to discharge duties with unbiased approach while decision-making with respect to matters involving benefits to Paytm CEO Vijay Shekhar Sharma.
