Browsing: Fintech

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.

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.

Drivio, a digital-first omnichannel two-wheeler financing platform in making, has raised $ 1 million in its seed funding round from Karini Ventures and Vansun Capital. Drivio is co-founded by Saurabh Tripathi and Ankur Bhardwaj. Headquartered in Gurugram and incorporated in April 2022.

Ajay Adiseshan, Chairman and Managing Director, PayMate says, “We are elated to receive in-principle authorization from RBI to operate as a Payment Aggregator in India. With digital payments fast becoming ubiquitous, these measures buoy customer confidence and trust and help us adopt appropriate frameworks for managing risk.

Deep Agrawal, Head of Payments at PhonePe said, “This will help expand the overall UPI ecosystem, and also onboard new customers to the digital payments fold. UPI has become a global exemplar, and countries across the world are looking to implement it. Going forward, we are closely working with NPCI to take UPI international.’’   

Ashwini Anand, CFA, Founder and CEO, Monsoon CreditTech, “Our goal is to revolutionize lending using machine learning and artificial intelligence. We are driven to help create a world where every credit-worthy borrower gets access to adequate credit in a manner such that economic value is maximised for lenders, borrowers and society.”

Ajay Adiseshan, Chairman and Managing Director, PayMate further adds, “We are expanding into Singapore and Sri Lanka to offer B2B payments and working capital solutions for businesses. The PayMate platform provides an interface to simplify the payments and collection process for our customers and their suppliers, dealers/distributors, and commercial credit cards enablement to make timely payments, manage cash flows and end-to-end reconciliation.” 

“We are excited to join hands with Beams team to solve challenges faced by MSMEs/SMEs in their financing requirements. Beams has a built an interesting value add strategy towards companies & we are looking forward to working together with them on problems being solved by Progcap,” said Pallavi Shrivastava, Co-founder, Progcap.

Amber Pabreja, CEO and co-founder of Trendlyne said: “We’re already a profitable company. We are raising funds to build our vision of making investing easier and more accessible for people not just in India, but also across the world.”

National Payments Corporation of India (NPCI) on October 10th launched NPCI Partner Program (NPP) with an intent to collaborate with various Technological…