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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 most valuable neobank in the world has made a series of missteps over the past 15 months and run into opposition from the RBI.
Editor's note: Recent months have been tough for Revolut’s Russian-born British co-founder and chief executive Nikolay Storonsky. Russia’s war with Ukraine has created geopolitical hurdles for the London-based fintech startup, even as venture capital funding has dried up for technology companies across the world. Storonsky—a former derivatives trader at Credit Suisse and Lehman Brothers—and his team has been hard at work engaging with regulators and governments across the world for digital banking licences. In an interview to Bloomberg TV last week, Storonsky identified India along with Latin America and the Philippines as geographies where Revolut has been “aggressively expanding” in recent months. Only in July last year, Revolut raised an $800 million round led by SoftBank Vision Fund 2 and Tiger Global, valuing it at $33 billion; firmly establishing its credentials as one of Europe’s most valued privately held fintechs alongside Irish-American payments startup Stripe and Sweden’s buy now pay later giant Klarna. Since its launch in 2015 in the UK as a prepaid card offering cheap foreign-exchange fees, the scale-up of Revolut has been nothing short of remarkable. The neobanking startup …
The most valuable neobank in the world has made a series of missteps over the past 15 months and run into opposition from the RBI.
Editor's note: Recent months have been tough for Revolut’s Russian-born British co-founder and chief executive Nikolay Storonsky. Russia’s war with Ukraine has created geopolitical hurdles for the London-based fintech startup, even as venture capital funding has dried up for technology companies across the world. Storonsky—a former derivatives trader at Credit Suisse and Lehman Brothers—and his team has been hard at work engaging with regulators and governments across the world for digital banking licences. In an interview to Bloomberg TV last week, Storonsky identified India along with Latin America and the Philippines as geographies where Revolut has been “aggressively expanding” in recent months. Only in July last year, Revolut raised an $800 million round led by SoftBank Vision Fund 2 and Tiger Global, valuing it at $33 billion; firmly establishing its credentials as one of Europe’s most valued privately held fintechs alongside Irish-American payments startup Stripe and Sweden’s buy now pay later giant Klarna. Since its launch in 2015 in the UK as a prepaid card offering cheap foreign-exchange fees, the scale-up of Revolut has been nothing short of remarkable. The neobanking startup …
The newly announced levy on UPI payments undermines the very foundation of using digital payments for stock market investing. Brokers are in a tizzy.
India’s second-largest brokerage by active clients wants to handle IPOs as a merchant banker. But gaining a foothold in the highly competitive sector is easier said than done.
Influence cannot be manufactured through diaspora networks, carefully branded events or political donations. It requires honesty and credibility.
The newly announced levy on UPI payments undermines the very foundation of using digital payments for stock market investing. Brokers are in a tizzy.
India’s second-largest brokerage by active clients wants to handle IPOs as a merchant banker. But gaining a foothold in the highly competitive sector is easier said than done.
Influence cannot be manufactured through diaspora networks, carefully branded events or political donations. It requires honesty and credibility.
