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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.
More than two years in, the neobanking startup has been beset by challenges—but a fresh push for credit products may get it rolling.
Editor's note: When Jitendra Gupta raised $24 million in September 2019 to fund his second venture, the industry was buzzing with expectations. It was one of the largest Series A rounds India had ever seen at the time, second only to CRED’s $25 million in September 2018. Gupta had a track record as a successful fintech founder and operator. Along with his co-founders, he pulled off one of the Indian fintech industry’s biggest exits by selling payment gateway startup Citrus Pay to Naspers-backed PayU for $130 million in 2016. The deal saw early investor Sequoia Capital book more than 4x returns on its initial investment of $10 million. His next gig as the managing director of PayU lasted a little less than three years but was impactful. Here, Gupta scaled up PayU’s digital lending arm Lazypay to launch one of the first renditions of deferred payments on a wallet in India, a service now known more commonly as “buy now pay later”, or BNPL. He had, in this time, built connections at top banks, gained clout among peers, and recognition at top …
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.
Europe’s largest fintech firm has its sights set on the Emirates. What can we expect?
The central bank’s shift to a 100% collateral requirement threatens to erode leverage, reduce volumes and force a consolidation across prop desks.
