FinTech

Kunal Shah-led fintech platform Cred is set to acquire Kuvera, an online wealth management startup backed by American investment firm Fidelity for an undisclosed amount, the company said in a release today.This development marks the entry of Cred into the mutual funds market, placing it in competition with industry leaders such as Zerodha, ETMoney and Groww.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIT DelhiIITD Certificate Programme in Data Science & Machine…

A group of entrepreneurs has written to Reserve Bank of India (RBI) governor Shaktikanta Das and finance minister Nirmala Sitharaman, urging them to “review” and “reconsider” the regulatory directive asking Paytm’s payments bank unit to shut its key banking services after February 29.The note, signed by startup founders including Policybazaar's Yashish Dahiya, Bharat Matrimony’s Murugavel Janakiraman, Makemytrip’s Rajesh Magow and Ritesh Malik of Innov 8 said the RBI order would have a far-reaching impact on the ecosystem…

Hi, this is Pratik Bhakta in Bengaluru. What a week it has been for the startup world! While at one end Paytm, the poster child of the fintech sector, struggled to save its business, on the other, listed startups like Policybazaar were talking about dividends and share buybacks.And to top it all, the buzz around the troubles at Byju’s just wouldn’t die.But if there’s one thing that has come to the fore this week, it's compliance and governance issues at startups. When companies are in the nascent stage they can get lax on…

Policybazaar parent PB Fintech is looking to return a part of its capital to shareholders either through a share buyback or dividends, after having turned profitable in the third quarter, company chairman and cofounder Yashish Dahiya told ET in an interaction.A formal decision in this regard, however, will be made only after discussions with the board and consent from shareholders, he added.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM KozhikodeIIMK Advanced Data Science For…

The Reserve Bank of India on Wednesday restricted Paytm Payments Bank Ltd from taking fresh deposits and credit transactions across its services, due to non-compliance of regulations and supervisory concerns.An audit report revealed "persistent non-compliances and continued material supervisory concerns in the bank, warranting further supervisory action," the central bank said in a release.Paytm Payments Bank will not be allowed to take further deposits in any customer accounts after February 29, the RBI said.It added…

Fintech players such as Aditya Birla Finance, Karnataka Bank, Tata Capital, Canara Bank and Bajaj Finserv are in various stages of integration with the government-backed Open Network for Digital Commerce (ONDC), its chief executive T Koshy told ET.ONDC had published specifications and protocols for players in the financial sector (for credit, insurance and mutual funds) to onboard onto the network as buyer and seller network participants in November last year.Elevate Your Tech Prowess with High-Value Skill CoursesOffering…

PB Fintech, the parent entity which operates insurance aggregator Policybazaar and credit marketplace Paisabazaar, has turned profitable and clocked its first ever net profit of Rs 37.2 crore for the third quarter ending December 31, 2023.Following through on the guidance provided in the previous quarters, the company has also reported profits of Rs 4.2 crore for the nine-months period ending December 31.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB…

Ecommerce firm Meesho is diversifying revenue streams via two new business lines. Details of this and more in today’s ETtech Morning Dispatch.Also in this letter:■ Indonesian players behind recent hacks■ New SOPs for cybersecurity■ Scammers impersonate Peak XV, Sequoia CapitalMeesho joins carts queued up at credit & grocery countersIn a bid to diversify revenue lines and move towards profitability, ecommerce platforms are starting to enter the world of financial services. SoftBank-backed ecommerce firm Meesho is the…

Welcome to TechCrunch Fintech (formerly The Interchange)! In this edition, I’m going to look at Brex’s latest round of layoffs, the state of fintech investing in 2023 and more! I may be taking some time off in coming weeks but never fear, TechCrunch Fintech isn’t going away. We’ll be back soon! To get a roundup of TechCrunch’s biggest and most important fintech stories delivered to your inbox every Sunday at 7:30 a.m. PT, subscribe here. The big story What goes up must come down. For spend…

Artificial Intelligence-based apps, online games, smart homes -- all could increase your children's risk of cyber attacks, according to a report on Saturday. The report, by global cybersecurity firm Kaspersky, noted that children are more likely to use AI tools that, so far, are not ready to provide the necessary level of cybersecurity and age-appropriate content.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIT DelhiIITD Certificate Programme in Data Science & Machine…