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Niyo acquires wealth-tech startup Goalwise

29Jul By Press Trust of IndiaNo Comments

ACQUISITION

Niyo acquires wealth-tech startup Goalwise

Jul 28, 2020: Digital banking fintech startup Niyo has acquired mutual funds investment platform Goalwise in a cash-and-stock deal to expand its product offering, a release said on Tuesday. The Bengaluru-based company did not disclose the financial value of the acquisition. "Niyo co-founders Vinay Bagri (CEO) and Virender Bisht (CTO) have picked up majority stakes in the start-up, along with Niyo, in a cash-and-stock deal for an undisclosed amount," the release said. The Goalwise founding members will join Niyo''s leadership team and will be running Niyo Wealth as an independent vertical within Niyo, it added. The COVID-19 pandemic has significantly increased the demand for digital banking and related services. The release further said the acquisition is in line with Niyo''s...

Aye Finance raises $17 million from Invest in Vision

7Jul By PriyankaNo Comments

FUNDING

Aye Finance raises $17 million from Invest in Vision

Fintech startup Aye Finance raises $17 million (Rs 125 crore) in debt from Germany-based Invest in Vision, a top official of the company said. The company will use the fund to enhance lending for the micro-enterprise sector, Aye Finance managing director Sanjay Sharma said. "Since our inception in 2014, we have been making affordable loans a reality for the historically credit-starved micro-enterprises of India. We are grateful for the support we receive from Invest in Vision and other debt partners in helping us realize our mission of creating an inclusive India," Sharma said. Aye Finance is a finance company that provides business loans to micro and small businesses has raised a total of $244.4 Million in funding over 22 rounds. быстрый займ на картузайм на карту мгновенно с пл...

25Jun By PriyankaNo Comments

FUNDING

Slice raises $6 Million in funding led by Japan-based Gunosy

New Delhi, Jun 25, 2020: Fintech startup slice (formerly known as SlicePay) raises $6.08 million (Rs 46 crore) in funding led by Japan-based investor, Gunosy. The pre-series B round also saw participation from US-based EMVC, Kunal Shah of CRED, Better Capital and existing investor, Das Capital, a statement said. "This round of funding will help slice double its management team, explore banking partnerships to launch co-branded prepaid cards and credit cards and have over 5 lakh users by the end of fiscal 2021," it added. "As a young team, we understand this consumer very well and in the last four years, our primary focus has been making youngsters'' financial experience fun and seamless. As we accelerate towards our next phase of growth, support from new investors like Gunosy, EMV...

Payment startup Checkout.com valuation triples to $5.5bn

22Jun By AdityaNo Comments

FUNDING

Payment startup Checkout.com valuation triples to $5.5bn

22nd June 2020, London– Leading global payment solution provider Checkout.com becomes one of the most valuable fintechs globally raises $150m in Series B funding round. Tripling the valuation to $5.5bn reflects a growing business demand for transformative online payment solutions that perform across all geographies and channels. Checkout.com’s online transaction numbers had already increased by 250% comparing May ‘19 and May ‘20. With an exclusive focus on online payments, global lockdowns have further accelerated Checkout.com’s growth as businesses have rapidly pivoted online. The Series B funding was led by Coatue, along with participation from existing investors, including Insight Partners, DST Global, Blossom Capital, and Singapore’s Sovereign Wealth Fund, GIC. Checkout....

Arkam Ventures- Indian Founders led Investment fund raises $42 Million

9Jun By AnkitaNo Comments

BUSINESS

Arkam Ventures- Indian Founders led Investment fund raises $42 Million

New Delhi, 9th June, 2020: Arkam Ventures, a VC fund led by Indian entrepreneurs raises around $42 Million (325 crores) in its first funding round. Arkam Ventures previously known as Unitary Helion looking to support founders with bold and unconstrained ideas that reshape the largest markets in India and positively impact the lives of hundreds of millions of Indians. "We announced our first close with INR 325 CR in committed capital en route to our target of INR 700 CR for the fund. We have already made two investments with three more to be announced shortly", the company said in a blog post. Indian entrepreneurs like Vijay Shekhar, Binny Bansal, Sanjeev Bhikchandani, Rajesh Magow, Mekin Maheshwari and Kumar Sudarshan, among many others, are supporting this fund. The Arkam v...

19May By PriyankaNo Comments

FUNDING

Lendingkart raises $40 Million in equity funding

Lendingkart Technologies raises $40 million (about Rs 320 crore) in an equity funding round led by existing investors including Fullerton Financial Holdings Pte Ltd (FFH), Bertelsmann India Investments, Sistema Asia Fund and IndiaQuotient. The series D round comprised two tranches INR 233 crore as part of D1, and INR 86.24 crores in D2 fund-raise, according to a company statement. Lendingkart has raised over Rs 1,050 crore of equity capital from investors till date. This funding will be deployed to expand the company's lending base and further reach out to small and underserved micro and small enterprises, and to further strengthen the company's technological and analytics capabilities, the company said. "The fresh round of equity funding reaffirms the support of our investors ...

5Apr By NitishNo Comments

FUNDING

Recko Raises USD 6 Million in Series A funding

Recko, a Bengaluru-based enterprise fintech startup that enables AI-powered reconciliation of digital transactions has raised USD six million in Series A funding. The investment was led by Vertex Ventures SEA and India, and saw participation from existing investor Prime Venture Partners. The fresh funding will be used for further product development, hiring and expanding its presence outside India, Recko said in a statement. Since it was founded in 2017, Recko has reconciled transactions worth USD five billion, it said. The startup has built a SaaS-based financial reconciliation product that, it said, keeps track of the complete transaction lifecycle and commercial contracts for organisations. Its customers include Grofers, Meesho, Dunzo and some of India's top marketplaces acr...

Mera Cashier Raises $150k from Bollywood Singer & Others

3Apr By PriyankaNo Comments

FUNDING

Mera Cashier Raises $150k from Bollywood Singer & Others

Sukhbir Singh, eminent Bollywood singer, India Accelerator, Boudhik Ventures, Shankar Nath (ex-CMO, PayTM) and Shaurya Garg (Founder, Fundoo Works) have invested $ 150K in FinTech startup Mera Cashier. Sukhbir says "Mera Cashier is giving the user the gift of time which is extremely scarce in these days. He adds using "Mera Cashier" is a good decision for any businessmen." Launched in July 2019, Mera Cashier is an app for small and micro businessmen to record and manage credit transactions. The app boasts of some unique features like managing both credits taken from suppliers and credit given in the market, using QR code to record transactions thereby improving the efficiency of the business and one app that the user and his customers can download and view the transactions involved....

17Mar By AnkitaNo Comments

FUNDING

Fintech firm Fintso raises $2.6 mn in funding

Fintech startup Fintso raises USD 2.6 million from a set of individual angel investors including top officials of Mankind, Einfochips and Deutsche Bank. Fintso, a 3-month-old fintech startup, founded by Wealth Management industry veterans, George Mitra and Rajan Pathak, has raised USD 2.6 million from a set of individual Angel investors. Investors include Rajeev Juneja (CEO of Mankind Pharma), Pratul Shroff (Founder of Infochips) and Dilip Khandelwal (MD and Head of Technology, Asia Pacific, Deutsche Bank)," the company said in a statement. Fintso said it will use the capital to develop platform to help independent financial advisors and mutual fund distributors to nurture client relationships, enable seamless operations, and help them enhance productivity.

4 Startups That Want to Change How We Bank for Good

5Mar By AdityaNo Comments

Story

4 Startups That Want to Change How We Bank for Good

Technology is everywhere, and it's been disrupting various industries including banking. While people used to go to physical banks to manage their finances, request loans and transfer funds, nowadays, all these can be done in just a few clicks. But aside from streamlining the way people deal with their money, fintech startups are effectively changing the way we bank for good. InstaReM highlighted that fintech is third when it comes to having the highest number of unicorns or privately held startup companies valued at over $1 billion following internet software services and e-commerce. Here are some of the startups that are effectively changing the way we bank: Revolut Managing your finances, when every bank account has its own app, can be a little overwhelming and confusing. Hail...

11Nov By AdityaNo Comments

FUNDING

Fintech Firm Svasti Raises USD 10 mn

11th Nov, 2019: Svasti Microfinance has raised a funding of USD 10 million (about Rs 71 crore) for expansion of branch network and increasing MSME financing. Till date, Svasti has raised a total capital of USD 17 million. The capital was raised from Adar Poonawalla, Nordic Microfinance Initiative (NMI) and Rajiv Dadlani Group, the Mumbai-based company said in a release. "Apart from expanding its branch network, Svasti will use the capital raised to expand and increase its MSME loan portfolio and provide other financial services, such as consumer finance and insurance, in partnership with other leading institutions," the release said. A portion of the funds raised in the current round is being used to provide full exits to Michael and Susan Dell Foundation and Bamboo Financial In...

25Oct By AdityaNo Comments

FUNDING

AI startup Crediwatch raises $3.2M funding

Crediwatch, a Bangalore-based fintech company building AI/ML tools to help the financial services industry reduce credit risk, has secured US$3.2 million in Series A funding. The funding round was led by ARTIS Labs. Abstract Ventures also participated in this round. The funding will accelerate R&D and commercialization of Crediwatch’s platform. Prior to this round, Crediwatch has raised US$1.6 million. Crediwatch is a ‘data insights-as-a-service’ company that provides lenders, businesses with actionable credit intelligence on private entities they need to improve trust and increase their lending and trading activity. Crediwatch does this with no human intervention by deploying the latest practical AI and technology tools that provide the most reliable comprehensive real-ti...