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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.
The Rs 900 crore capital fight with BharatPe over the small finance bank could leave Centrum’s investors holding the loss.
Unity Small Finance Bank was supposed to be the tidy finish to one of the messiest bank collapses India has seen. When the Reserve Bank of India let a fintech unicorn and a mid-sized NBFC group absorb the wreckage of Punjab and Maharashtra Co-operative Bank in 2021, the pitch was simple: BharatPe and Centrum Financial Services would rescue a bank that had failed nearly 900,000 depositors. Unity SFB was born as a result.
Five years on, those depositors are on the road to recovery. The rescuers, on the other hand, have been at odds over who controls Unity SFB’s fate. …
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.
With the test-prep company struggling, Munjal wants Rs 200 crore each for co-founders to leave, exposing India’s broken founder-investor power dynamic.
Info Edge’s consistent efforts to figure out what went wrong at its investee company 4B Networks are a welcome change in the Indian startup ecosystem.
