Explore the latest news, in-depth reports, and executive analysis tagged with #Merchant Acquiring.
Earlier this year, other lending companies such as Kissht and Aye Finance also cut their IPO size, as valuation concerns grew.
The hiring will focus on engineering, product and treasury operations.
The round also saw participation from Baring Private Equity India, Saison Capital Pte. Ltd. and UNLEASH, along with other investors.
The funding round also saw participation from existing investors Arkam Ventures and Capital 2B.
The combined business generates over $30 million in annual revenue with a profitability margin exceeding 30%.
The IPO preparations come as InsuranceDekho continues to work on its merger with insurance distribution platform RenewBuy.
The round also saw participation from a group of angel investors.
The Pune-headquartered company aims to raise Rs 750 crore through a fresh issue of shares.
The funding round also saw participation from Uppekkha.
The company allotted 2.61 crore equity shares to anchor investors at Rs 152 apiece, the upper end of its IPO price band.
The platform's secretariat will be jointly managed by the Payments Council of India (PCI) and the Fintech Convergence Council (FCC).
The company has fixed the price band at Rs 144-152 per share for the issue.
The Bengaluru-based payments firm is planning to raise around $600-700 million through its proposed public offering at a valuation of $5-6 billion.
New-age startup IPO class faces a reality check. Stocks have stumbled, yet early investors are cashing out.
The filing comes days after Anthropic raised $65 billion at a valuation of $965 billion, making it the world's most valuable AI startup ahead of OpenAI.
ED seized cash, bullion, incriminating documents, froze four luxury vehicles; and identifies Dubai-based Grenadian national as Pay10's alleged ultimate beneficial owner.
The ED also alleged that the gaming company used bots to play games against users without their knowledge, causing losses of about Rs 1,154 crore to players.
The company's IPO, which opened last week, was subscribed over nine times overall.
The case is linked to alleged illegal gains made through Gameskraft's real-money gaming apps, including RummyCulture and RummyTime.
Concerns around Shiprocket profitability, the still-evolving nature of its emerging business, heavy dependence on vendors continue to weigh as it prepares for IPO.
