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Author: Bfsinxt Desk
PhonePe plans to deploy the new funds to make significant investments in infrastructure, including the development of data centers and help build financial services offerings at scale in the country.
360 ONE (earlier known as IIFL Wealth & Asset Management), one of the leading wealth and alternates focused asset firms in India, recently completed the acquisition of controlling stake in Mumbai Angels, a premier platform for early-stage venture investments. Mumbai Angels, one of the largest players in the early-stage investment space, will now be looking at a greater funnel of deals, with a deeper penetration in the early-stage startup pool. Through its strict filtration criteria, it will be able to offer a wider array of best-in-class deals to its investors. Dedicated to supporting and nurturing early-stage startups, and helping its investors…
Pulak Sarmah, Senior VP and Head – Marketing, Kotak Mahindra General Insurance, said, “At KGI, we continue to explore various technology platforms to shape superior experience for our customers. In a sector where customer experience takes priority over product features, we aim to fulfil these expectations and even set some new benchmarks for the industry.”
Upstox, one of the leading digital investment platforms in India, has partnered with ‘TradingView’, a global charting platform used by over 30 million traders and investors. This partnership will help Upstox users track, analyse and execute their trades on NSE, BSE and MCX instantly in a seamless manner. On Upstox, the integration is built on top of the TradingView library which renders a similar user experience to that on the TradingView portal, empowering users to trade and manage the order and positions directly on the chart. Furthermore, Upstox users can leverage this facility to create their own list of stocks,…
Sanjay Agarwal, MD & CEO, AU Small Finance Bank, said, “Under our ethos of ‘badlaav’ we are working towards bringing progressive changes within our organisation to make it more supportive and inclusive for everyone.”
Sumit Sanghai, Head- Large Clients Group, ICICI Bank, said, “Over the years, exports have been an integral part of India’s growth. India’s overall exports in FY 2022 grew by 36% to over USD 670 billion from a year-ago period. It is estimated to touch USD 2 trillion by 2030. ICICI Bank intends to support the growth of exporters with an all-encompassing suite of digital solutions.”
The transaction, the first of its kind in the space, and one of the largest committed by Alteria till date, will further solidify Jupiter’s market leading position across the broader Indian financial services space, while also leveraging synergies across the Jupiter group.
Dinanath Dubhashi, Managing Director & Chief Executive Officer, L&T Finance Holdings said, “The PLANET app is the cornerstone in the plan to create a Fintech @ Scale under the Lakshya 2026 roadmap. With this app, we aim to establish a geo-agnostic sourcing and servicing channel and have seen a consistent pick-up in the app since its launch.
Small Industries Development Bank of India (SIDBI), the country’s apex financial institution for MSMEs, announced entering into its first co-lending arrangement with Ambit Finvest Pvt. Ltd., the Non-Banking Financial Company (NBFC) of the Ambit Group, to provide Unsecured Business Loans to MSMEs. RBI’s Co-lending framework envisages leveraging the comparative advantages of banks and NBFCs in a collaborative effort to boost the priority sector lending. Sivasubramanian Ramann, CMD, SIDBI said “NBFCs are an important vehicle in the growth strategy of SIDBI due to their willingness and ability to reach bottom of the pyramid businesses, especially in credit deficient geographies, adoption of innovative…
IIFL Group’s early-stage investment vehicle – IIFL Fintech Fund – has invested an undisclosed amount in insurance-technology platform Insurance Samadhan, to acquire 16% stake in the startup. This is IIFL Fintech Fund’s tenth investment and first in an Insuretech company. Insurance Samadhan is an online platform that deals with resolving insurance related complaints. Catering to customers from different backgrounds, the platform allows users to file a complaint for issues such as misselling, lapsed policy, policy rejection, fraud or claim rejection in life, health and general insurance. The total addressable market size is $12 billion. Their proprietary and industry-first algorithm auto…