fintech | Pixr8 News

Samsung to Bring Samsung Pay to Indian Devices

16Jun By Press Trust of IndiaNo Comments

Tech

Samsung to Bring Samsung Pay to Indian Devices

Handset maker Samsung will expand its mobile payments service, Samsung Pay, to more affordable devices in its portfolio in India over the next few weeks. The service, which was launched in March this year in India, allows users to just tap and pay using the debit/credit cards and wallets stored on their mobile devices. Samsung Pay is available for users of flagship devices like Samsung S8, Samsung S7 Edge, S7 and S6 Edge Plus among others. The company today launched two new devices - J7 Max and Pro, priced at Rs 17,900 and Rs 20,900, respectively that feature Samsung Pay. "Since its launch in India, we have received tremendous response to Samsung Pay and we remain committed to taking it to maximum number of consumers. Over the next few weeks, we plan to extend Samsung Mini as a...

Fintech Startup MoneyTap Raises $12.3 Million From Sequoia India

15Jun By PriyankaNo Comments

FUNDING

Fintech Startup MoneyTap Raises $12.3 Million From Sequoia India

Fintech firm MoneyTap today said it has raised USD 12.3 million (over Rs 78 crore) from Sequoia India and existing investors, NEA and Prime Venture Partners. "With this fresh funding, MoneyTap plans to solidify its leadership position by improving credit accessibility for other segments of customers, partnering with six other banks and NBFCs and expanding to 50 cities in India by the end of 2017," MoneyTap said in a statement sent to Pixr8. It added that the company is also on target to issue credit lines worth Rs 300 crore by the end of the current fiscal. The app-based consumer credit line has over three lakh users. The Indian consumer finance market is estimated to grow at a compounded growth rate of 18 per cent to become a USD 1.2 trillion opportunity by 2020, it said. With close t...

How Loan Frame Funding For Business Boosting MSME Sector in India

10Jun By AnkitaNo Comments

News

How Loan Frame Funding For Business Boosting MSME Sector in India

Micro, small and medium enterprises have a vital role in providing employment opportunities in India. The MSME sector also has a relatively lower capital cost compared to large industries. They also help in the development and industrialisation of rural areas. However, one major challenge that the sector faces at present is the non-availability of fast business loans and loans for UK companies.. Despite the difficulty of funding for business, MSMEs have been flourishing in recent years. The Indian economy is expected to become one of the leading economies in the world. Experts have estimated that the by 2025, the economy will hit the $5 trillion mark. And the backbone of the economy is the MSME sector. Challenges that the MSME Sector Faces MSME sector provides job opportunities,...

FinTech Startup EarlySalary Raises USD 4 Million From IDG Ventures India & Others

10May By AdityaNo Comments

FUNDING

FinTech Startup EarlySalary Raises USD 4 Million From IDG Ventures India & Others

EarlySalary India’s first FinTech startup to offer Salary Advances and Instant Cash Loans has announced its Series A funding of $4 Million from IDG Ventures India (IDGVI) and Dewan Housing Finance Corp Ltd (DHFL). The company focuses on helping young working professionals get Instant Loans and Salary Advances in minutes and is fast becoming the first line of credit to young working Indians. More than 80% of its customer base is in their first career roles and most of them are new to credit and are first time borrowers. Over the past year, EarlySalary developed its Underwriting System which is a self-learning Algo Based Decisioning System. The System in real time reviews Social Media and Credit Bureau data of customers and helps approve the loan for them. Targeted at young working pro...

Nomura Launches FinTech Program for Indian Startups

19Apr By AdityaNo Comments

News

Nomura Launches FinTech Program for Indian Startups

Global financial services company Nomura today launched a financial technology (FinTec) program to help start ups develop innovative solutions for capital markets and investment banking. Under the 'Voyager - Nomura FinTech Partnership' program selected startups would get a chance to collaborate with Nomura businesses across regions and create products and solutions which can potentially be implemented in the financial industry. The program will also provide them global exposure and enhanced visibility in the FinTech ecosystem. "Nomura, today commenced the 'Voyager - Nomura FinTech Partnership' in India aimed at harnessing emerging technologies to help transform its businesses and services," the firm said in a statement. "We are inviting entrepreneurs to participate in the progr...

Axilor Ventures Tie-up With PayU India as Industry Partner For Its Accelerator Program

17Feb By AnkitaNo Comments

BUSINESS

Axilor Ventures Tie-up With PayU India as Industry Partner For Its Accelerator Program

Early stage fund, Axilor Ventures, bets on new opportunities around Fintech; signs up PayU India as the industry partner for its Accelerator Program. Axilor has recently announced doubling the intake for its Summer ’17 Accelerator Program. Fintech is one of the five focus areas for the cohort in the Summer '17 batch. Together with PayU India, Axilor aims to improve the odds of success of FinTech startups and make them investible faster. Ganapathy Venugopal, Cofounder and CEO of Axilor Ventures, said, “The recent changes have accelerated the adoption of digital services in both consumer and enterprise segments - financial services are one of the most underserved needs and will see rapid innovation. We are looking for Fintech startups that will drive this change.” “For startups in the pa...

18Jan By AdityaNo Comments

FUNDING

CashRich, an Indian Fintech Startup, Raises Seed Funding

CashRich, a Mumbai-based fintech startup, has raised an undisclosed amount in seed funding from three prominent angel investors in the UK. CashRich is a smart mobile investment app for anyone seeking better ways to manage their money. The app is currently in beta phase (pilot-testing) and shall be launched in the coming months. Sougata Basu, Founder of CashRich, said, "We are excited to receive this funding from investors who share our vision to build a technology-driven financial services company that creates user-friendly products. This equity capital infusion is an early validation of our idea and business model." CashRich complies with SEBI regulations and helps in secure investment transactions with multiple fund houses. The company is currently exploring partnership opportuniti...

Fintech Startup Lendingkart Expected to Disburse Rs 1,600 Cr Loan By 2017 End

19Dec By NitishNo Comments

News

Fintech Startup Lendingkart Expected to Disburse Rs 1,600 Cr Loan By 2017 End

Fintech startup Lendingkart Group expects an exponential rise in working capital loan demand from small businesses and estimates to disburse Rs 1,600 crore by 2017-end through its NBFC arm Lendingkart Finance, a company official said. The company, which caters to small businesses generating revenues of Rs 1-15 lakh per month, disburses loan through digital channel, Lendingkart Group Co-Founder and CEO Harshvardhan Lunia said. "As a platform that leverages the power of mobile and web technologies, we have no geographical constraints. We have disbursed loans of Rs 400 crore since inception in 2014. In next one year, we are looking at a growth of four times at Rs 1,600 crore," Lunia said. Simple processes and flexible offerings make it a lender of choice, hence a multi-fold growth ov...

Alok Mittal Led Indifi Raises $10m From Omidyar, Existing Investors

13Dec By NitishNo Comments

FUNDING

Alok Mittal Led Indifi Raises $10m From Omidyar, Existing Investors

Indifi Technologies, an enabler of micro, small, and medium enterprises (MSME) financing, has raised USD 10 million in a Series B investment round led by philanthropic investment firm Omidyar Network, established by the founder of eBay, Pierre Omidyar. Existing investors Accel Partners and Elevar Equity also participated in the round. Indifi Technologies, while maintaining its focus on MSME businesses, intends to direct the investments towards furthering its products and technology, it said in a statement today. "Through our current roadmap, we have validated our vertical approach to financing and are now present across travel, e-commerce, retail, and hotel segments. The capital raised in this series will be targeted toward improving our offerings in these verticals," said Alok Mitt...

India Lays Foundation For a Fintech Revolution

18Sep By reutersNo Comments

BLOGS

India Lays Foundation For a Fintech Revolution

India is setting a new global standard in fintech. A new instant online payments system, tied to national biometric identity data, launched in recent weeks. Together with an explosion in smartphone usage, this could help the world’s fastest-growing large economy skip traditional financial infrastructure like cash machines, debit cards and point-of-sales machines – speeding up a move to a cashless economy. The so-called “Unified Payment Interface” is unlike anything available in China or the United States. It enables secure, real-time transfers from one person to another, or to a company. UPI enables individuals and businesses to manage money held across multiple accounts at various banks through a single mobile application – and not one that necessarily belongs to the customer’s own ban...

Looking for Alternative Investment Options – Visit i2iFunding.com

16Sep By NitishNo Comments

Story

Looking for Alternative Investment Options – Visit i2iFunding.com

Technological disruptions have not left financial sector out of its impact and India currently has several fintech startups developing out from its cocoon. Fintech startups mostly confined of online payment wallets and now online lending marketplaces. i2ifunding a Peer to Peer platform where an individual can borrow money at a desired rate of interest and an investor can lend to retail borrowers according to their interest rates. While P2P lending is still at a nascent stage in India, it is one of the leading means of financing in countries such as the US, the UK, Germany, China etc. and many p2p players have grown to become Billion dollar companies. It has been growing in leaps and bounds around the world, thanks to an increase in the internet penetration and tremendous acceptability of...

Fintech Firm LoanTap Raises $3 mn From HNIs

29Aug By PriyankaNo Comments

FUNDING

Fintech Firm LoanTap Raises $3 mn From HNIs

Fintech platform LoanTap today said it has secured USD 3 million in a first strategic round of funding (Series A) from high net worth individuals (HNIs) Abhishek Pandey and Jaysukh Sapra. LoanTap said nearly 85 per cent of the funding, which was led by Mumbai-based HNIs, will be used for onward lending by the platform, while a part of the remaining capital will also be used to augment its technology and distribution frameworks. Further, LoanTap will be leveraging the raised capital to expand its operations in NCR, Mumbai Metropolitan Region, Pune and Bangalore, it said. LoanTap has an inhouse NBFC platform delivering flexible EMI-free loan and overdraft products to salaried professionals. Headquartered in Mumbai with the back office in Pune, LoanTap follows an agency-based coll...