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Sugmya Finance, a Delhi-based non-banking financial company (NBFC), has raised $3 million in a funding round led by its existing investors.The company's existing backers include Angelbay, an angel investment network, Kaptable Holdings Private Limited, PolicyBazaar cofounders Alok Bansal, Yashish Dahiya, and Manoj Sharma; Rajesh Singh, managing director of Deltacoin Financial Services; Naveen Kukreja, CEO of PaisaBazaar; Shantanu Jain, managing director of JP Morgan Chase in Singapore; Ujjwal Bhandari, managing director of…

Genesis Global Capital LLC has agreed to pay a $21 million civil fine to settle charges that it illegally sold securities through its crypto lending program without registering them, the U.S. Securities and Exchange Commission said on Tuesday.The deal resolves January 2023 charges the SEC filed against Genesis and Gemini Trust Company LLC over their joint crypto lending program. It was one of a spate of enforcement actions the SEC has taken against large firms in the crypto sector.Elevate Your Tech Prowess with High-Value…

FBN Holdings, the parent company of Nigeria’s oldest commercial banking institution First Bank, attained its all-time peak valuation on Monday. The feat was recorded after a week of sustained gains catapulted the worth of its shares beyond N1.2 trillion. The valuation lifts the financial services group to a new milestone as Nigeria’s biggest lender by market capitalisation, pushing peer Guaranty Trust Holding Company, which has held the title for a while, to the back seat. Following an almost twofold surge in…

Construction on a $60 million apartment complex along Wadsworth Boulevard “has come to a standstill due to infighting” and been “all but abandoned,” its lender alleges. Aspen Heights Partners, a Texas developer, broke ground in 2020 on a 352-unit apartment project at 1225 Wadsworth in Lakewood, with plans to finish it by the end of 2022. Amenities were to include a heated pool, dog park, bike repair shop and golf simulator. That hasn’t come to fruition. Instead, subcontractors say they are owed millions of dollars and…

Electric vehicle-focused lender Revfin has raised $14 million (about Rs 115 crore) in an equity funding round led by Omidyar Network.Sameer Aggarwal, founder and chief executive of the Delhi-based company, said almost all of the funding came in primary capital. He did not disclose the valuation at which the funds were raised.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitNorthwestern UniversityKellogg Post Graduate Certificate in…

Amitoj Singh / CoinDesk: Court filing: crypto lender Genesis sues the Winklevoss' exchange Gemini Trust to recover $689M, alleging Gemini made preferential transfers to other creditors — Genesis and Gemini have been embroiled in a public and legal feud since the collapse of FTX. — Register Now Amitoj Singh / CoinDesk: Court filing: crypto lender Genesis sues the Winklevoss' exchange Gemini Trust to recover $689M, alleging Gemini made preferential transfers to other…

After shedding three stores and one-fourth of its employees, and securing $1.3 million in new financing, Tattered Cover is on track to emerge from bankruptcy before long. Testifying under oath at a bankruptcy hearing Friday afternoon, CEO Brad Dempsey said the bookstore chain, which filed for Chapter 11 in October, intends to be out of bankruptcy “at the beginning of next year.” That expedited timeline is made possible by the closure of stores in LoDo, Westminster and Colorado Springs, according to Dempsey, who is also a…

National mortgage lender New American Funding wins kudos both nationally and in Colorado for employee satisfaction. New American Funding was recently named for the second year as one of the Fortune 100 Best Companies to Work For.  The company was also honored on the Denver Post’s Top Workplaces list, moving from No. 5 in 2022 to No. 3 in 2023. Earning recognition from Fortune shows how employees feel about working for New American Funding. According to the ranking, more than 92% of employees say the company is a great…

Banks are turning to an obscure government-linked lender to shore up their balance sheets following the industry’s rockiest period in years.  The Federal Home Loan Bank system—established during the Great Depression to help promote mortgage lending and now a source of liquidity for banks of all stripes—issued a record $495 billion of debt in March to fund loans, which are called advances, the system’s Office of Finance said. Banks ramped up borrowing that month as customers pulled out deposits and…

As the world grapples with the Silicon Bank crisis, many turn to cryptocurrencies like Bitcoin (BTC) to safeguard their assets in uncertain times. Amid this, Collateral Network (COLT) is emerging as a new challenger lender in the Web3 space, providing a unique solution for people who want to take out loans on their assets. >>BUY COLT TOKENS NOW<< Become Your Own Bank With Collateral Network (COLT) Collateral Network (COLT) enables users to become their own bank. The platform allows peer-to-peer lending and…