- Online Lending Startup Aye Finance Picks Up $4.6 Mn Funding From BlueOrchard Gurugram-headquartered online lending startup Aye Finance has raised $4.6 Mn (INR 30 Cr) in debt funding led by Swiss impact investor BlueOrchard Finance Ltd. The development comes less than two months after that startup secured $3.8 Mn (INR 25 Cr) from three investors, including Hinduja Leyland Finance and IntelleGrow. As per the media statement, the […]
- SME Lending Startup Lendingkart Raises $87 Mn In Equity Funding Post raising $4.7 Mn funding round in January 2018, Ahmedabad-based SME lending platform Lendingkart has secured over $87 Mn in an equity funding round as part of its Series C round. The round is being led by Singapore’s Fullerton Financial Holdings Pte Ltd. along with the participation from existing investors. Credit Suisse acted as the […]
- Meet The 8 Startups Selected For The Autumn Cohort Of YES FINTECH Accelerator YES BANK, in partnership with LetsTalkPayments and PricewaterhouseCoopers, has launched the second cohort of its fintech startup accelerator, YES FINTECH. The 15-week innovation programme will witness eight startups, chosen from over 500 applicants across 10+ countries, undergo rapid enhancement of their value quotient through product-market-fit guidance, Proof of Concept (PoC) validation and Go-To-Market advisory. Commenting […]
- 5 Consumer Lending Trends To Look Forward To In 2018 The year 2017 turned out to be a significant milestone in the financial history of the country, has had a decided impact on the Indian economy. As much as digital technology pervades our personal and professional lives, it has also started to transform our financial lives. Overall, the mood is positive, with GDP growth jumping […]
- RBI Regulations For P2P Lending Industry: A Win Win Situation For Both Platforms And Consumers P2P lending market is an emerging industry within the financial services sector. Globally, it has been there almost for a decade now, but its presence in India is relatively new. Any emerging industry prefers to experiment initially without having to comply with many stringent norms. This helps fathom the dynamics that provide sustainability to the […]
- SME Lending Platform OfBusiness Secures $3.8 Mn Debt Funding From Kotak Mahindra Bank Gurugram-based SME lending platform OfBusiness has secured $3.8 Mn (INR 25 Cr) in debt funding from Kotak Mahindra Bank.The funding comes as an extension to the $7.6 Mn (INR 50 Cr) working capital limit that the startup recently procured from the bank. With the newly-raised debt funding from Kotak Mahindra, OfBusiness aims to further expand […]
- SME Lending Startup ZipLoan Sweeps $3 Mn Series A Funding From Matrix Partners And Existing Investors Delhi-based SME lending platform, ZipLoan, has raised $3 Mn Series A funding from Matrix Partners India. The round also saw the participation of the fintech startup’s existing investors, including WaterBridge Ventures, Whiteboard Capital and former Capital18 MD, Sarbvir Singh. The company will utilise the newly-secured capital for geographical expansion in non-metro cities. The funds will also […]
- Micro Lending Platform KrazyBee Sweeps $8 Mn Series A Funding From Xiaomi, Shunwei Capital Bengaluru-based micro lending platform KrazyBee has raised $8 Mn Series A equity and debt financing led by Xiaomi Technologies and Shunwei Capital. The round also saw participation from E-city Ventures and RK Group. The newly-raised capital will be used for strengthening the company’s risk model and core algorithm, geared towards catering to new market segments […]
- RBI Releases Guidelines For P2P Lending; Levies Restrictions On Lenders And Borrowers After over a year of deliberations and discussions, the RBI has finally released the official guidelines for non-banking financial companies (NBFCs) engaged in P2P lending in the country. In a draft, titled “Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017”, the central banking institution has specified a list of directions […]
- How Alternative Lending Startups Will Slay The Lending Paradigms Of Traditional Banks Manish Chawla is a 27-year-old management consultant whose credit score sucks. Despite being quite well compensated, his low credit score is primarily because of a small loan he took 4-5 years back in his college days and promptly forgot to pay it back. By the time he remembered that he had a loan to pay […]
- From Expanding To 100 Cities To Disbursing $46.2 Mn Credit Line By FY18: Consumer Lending Startup MoneyTap Is Shooting For The Stars From an IIT Madras engineering student to a Silicon Valley-based entrepreneur to a VC in Bengaluru, the journey of Bala Parthasarathy has been an exhilarating tale of ambition, resourcefulness and ingenuity. The high points of his career have been many, including the time he sold Snapfish to Hewlett Packard for a whopping $300 Mn as well […]
- RBI Confers NBFC Status To P2P Lending Companies; To Release Final Guidelines Soon In July, the Reserve Bank of India reportedly finalised norms for P2P lending companies in the countries. The guidelines, which were slated for release within two to three weeks, have only recently made some headway, with the RBI conferring NBFC status to peer-to-peer lending startups on Wednesday. In a gazette notification issued by the central […]