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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Payments company Unimoni Enterprise Solutions, formerly TimesofMoney, is in a soup, from potentially misappropriated funds to questionable invoicing of a top client.
Editor's note: The story of TimesofMoney is interesting, to say the least. The digital payments processing company started about 20 years ago, under the fledgling Times Internet Ltd, the internet arm of the Times Group, one of India’s biggest media and internet groups. Over the years, TimesofMoney has offered services such as money transfers and billing and payment gateways for businesses. In 2012, it changed hands, with the Times Group selling it to UAE-based Network International, one of the oldest payment solutions companies in the Middle East. In 2018, it changed hands yet again, being acquired by Finablr, another UAE-based, and London-listed, payments and forex company. Finablr is perhaps better known as the financial services business of Indian-born businessman B.R. Shetty; it owns forex and remittance companies Travelex (in the UK) and UAE Exchange (in the Middle East and India). Finablr is perhaps even better known now for an accounting scandal that has seen the London Stock Exchange halt trading in its shares, along with Shetty’s equally scandal-ridden hospital chain NMC Health. We’ve written about Shetty’s fall from grace and the cloud …
The Rs 250 SIP was launched last year by the former SEBI chairperson with one clear goal: financial inclusion. More than a year later, the much-hyped scheme doesn’t seem to have caught on with MF investors.
A Dubai court’s verdict against the disgraced NMC founder, XPANCEO’s new, expanded laboratory and other headlines from the week.
Its biggest banking customer, Unity Small Finance Bank, has decided to part ways. The departure comes at a time when the fintech infrastructure startup has been trying to become a full-stack banking software provider.
