fintech startups

Despite regulatory challenges imposing higher governance costs, procedural delays and hurdles in establishing partnerships with banks for fintech firms, such actions serve as a runway for them to build a scalable platform in the long run, said senior partners at early-stage venture capital investor firm Elevation Capital.“I think getting a regulatory clarity might make your task tougher because it adds governance and governance cost and it may make your task longer. But I think it provides a nice runway for you to scale…

Merchant-focused payments provider, Razorpay, which was recently allowed to start onboarding new merchants, is internally targeting to turn profitable across all business lines in the next two years and eying a domestic listing post that, its cofounder & chief executive Harshil Mathur told ET. To be sure, its online payments business which contributes to 75% of its overall topline is currently breakeven and not losing any money. Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM…

Digital payments major Paytm, which is run by One 97 Communications, has seen a stagnation in Unified Payments Interface payments originating from its payments bank over the last six months.Data shared by the National Payments Corporation of India shows that from August 2023, payments originating from Paytm’s own UPI address started falling.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM KozhikodeIIMK Advanced Data Science For ManagersVisitMITMIT Technology Leadership and…

Hi, this is Pratik Bhakta in Bengaluru with our first edition of Unwrapped for 2024.Firstly, Happy New Year! As we wrap up the year-end festivities, I analyse the creeping land grab by fintech startups in the larger financial service industry.On Wednesday, ET wrote about how fintechs were adding more than 42% of the new investors in mutual funds every month. And this is not unique. Be it wealth management, payments or credit, fintechs are playing an important role in expanding the market and driving adoption…

It is well known that the freeze in the funding environment is impacting venture-backed startups. But the fintech sector is bracing for the twin blows of a funding winter and increased regulatory scrutiny. The two are intertwined such that many early-stage companies are actually struggling to deal with these challenges. While the well-capitalised Razorpay, Groww, and PhonePe are setting aside dollars to get the requisite regulatory clearances, it is the early-stage ones that are suffering the most.Challenges in lending:…

Small businesses like chemists, kirana stores, merchants face multiple challenges which include access to funds, coping with business uncertainties and scaling the business. Fintech startup Chqbook is empowering small business owners with access to financial services, including current accounts, business loans, and insurance, through its mobile app. Backed by Aavishkaar Capital, Rajiv Dadlani Group, Earlsfield Capital UK, Harsha Bhogle and others, Chqbook has raised $12 million so far. It recently tied up with ICICI…

Top venture investors as well as larger fintech firms such as Razorpay are among those stepping up to provide emergency services to small and mid-stage startups roiled by the abrupt closure of industry lender Silicon Valley Bank in the US on Friday.In addition, investors who have backed the affected startups are advising them to open alternate bank accounts on an urgent basis in order to receive customer payments and improve their liquidity positions.Payments major Razorpay is offering zero transfer charges on its…

In the span of a year, the technology world went from euphoria to turbulence – be it in the stock markets or in the private funding space. Collapse of FTX and the crypto sector to the sale of Twitter to Elon Musk, globally tech news hogged the headlines through the year. Closer home, it was the never-ending BharatPe versus Ashneer Grover saga, Byju’s mounting troubles, RBI’s scrutiny of fintech models, IPO plans which fell through, and the continued layoffs across startups – all of which we followed ball by ball in our…