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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 …
Chinese diplomats to India are saying all the right things for Indian ears, but Beijing’s policy actions are moving in the opposite direction.
The country's fighter jet roadmap rests on imported propulsion, leaving its military plans hostage to cost shocks, delays and geopolitics.
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.
Chinese diplomats to India are saying all the right things for Indian ears, but Beijing’s policy actions are moving in the opposite direction.
The country's fighter jet roadmap rests on imported propulsion, leaving its military plans hostage to cost shocks, delays and geopolitics.
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.
