Madhusudanan R

Exclusive: Moneyview becomes unicorn with new funding: Consumer lending platform Moneyview has turned unicorn in a new funding round from the existing Accel India and Nexus Ventures. The board at Moneyview has passed a special resolution to issue 60,23,382 equity shares at an issue price of Rs 64.15 each to raise Rs 38.64 crore (approximately $4.65 million), according to regulatory filings sourced … Continue reading "Exclusive: Moneyview becomes unicorn with new funding" The post Exclusive: Moneyview becomes unicorn with new funding appeared first on Entrackr. #startupnews #startups

Funding News: slice Raises $8.6 Million from CEO Rajan Bajaj! slice, a consumer lending and payments platform, has raised ₹71.7 crore ($8.6 million) in fresh funding from its founder and CEO, Rajan Bajaj, through partly paid-up shares. 🌟 About Slice: # Founded: By Rajan Bajaj. # Focus: Offers physical and virtual cards for millennials, allowing users to purchase products with EMI optionswhile building credit scores. # Target Market: Students and salaried professionals. 💼 Growth & Expansion Plans: The new investment will be completed in tranches and used for general business purposes. It follows slice’s Rs 300 crore debt funding round, raised through convertible debentures led by Taneja Family Trust and other trusts. slice has raised a total of $400 million to date, including a $220 million Series B led by Tiger Global Management and Insight Partners, both of which are significant stakeholders. While the FY24 results are pending, FY23 saw threefold revenue growth to ₹847 crore, though losses increased to ₹406 crore, reflecting the company’s aggressive growth strategy. In line with the trend of founders reinvesting in their businesses, recent examples include Gaurav Kumar(Yubi), Ritesh Agarwal (Oyo), and Tarun Mehta (Ather Energy). At Aspirants Space (https://lnkd.in/gYkc-Ni8), we are excited to witness Slice’s continued innovation in the fintech space! Tag someone who would be interested in this exciting growth journey. #AspirantsNews #Slice #Fintech #Funding #Growth #ConsumerLending #TechTalent

Assessing the Role of the Fintech Era on the Banking Stability of an Emerging Economy: PDF | Research background The rapid expansion in recent fintech innovations has garnered researchers' attention to evaluate its influence on the ...

🏠 AVIOM HFC Secures $10 Million Debt from BlueOrchard Microfinance Fund. 📈 SUMMARY: Delhi NCR-based AVIOM Housing Finance Corporation (AVIOM HFC) has secured a debt funding of $10 Mn from BlueOrchard Microfinance Fund. The startup plans to issue 1,000 bonds to BlueOrchard with a tenure of 72 months. Founded in 2016 by Kajal Ilmi, AVIOM focuses on providing housing loans to low-income households, particularly targeting the informal housing sector. 🏠 KEY DETAILS: - AVIOM Housing Finance Corporation raises $10 Mn debt funding from BlueOrchard Microfinance Fund, signaling continued investor confidence in its mission to provide housing finance solutions to underserved communities. - The startup issues 1,000 bonds to BlueOrchard with a tenure of 72 months, as outlined in its regulatory filing, further strengthening its financial position and expanding its lending capacity. - Founded by Kajal Ilmi in 2016, AVIOM specializes in providing housing loans to low-income households, focusing on individuals in need of home improvements, renovation, and sanitation facilities. - AVIOM serves a niche market of informal housing, primarily targeting women from semi-urban and rural areas who lack formal income documentation, aiming to promote financial inclusion and social impact. - With a live customer base of approximately 50,000 and over 80,000 loans disbursed to date, AVIOM boasts a robust presence across the country, supported by a network of over 350 branches. - AVIOM has forged partnerships with prominent banks and financial institutions such as HDFC Bank, IDFC Bank, Kotak Mahindra Bank, and Northern Arc, in addition to international lenders like Impact Investment Exchange, BlueOrchard, Triple Jump, and DMC. - This funding round follows AVIOM's successful Series D funding round, where it raised $30 Mn led by Nuveen, facilitating expansion plans including increased monthly loan disbursements and the addition of 50 branches to its network. - With previous funding rounds totaling $54 Mn, AVIOM HFC continues to compete in the housing finance sector against industry players like DMI Finance, Avanti Finance, and Moneyboxx, reaffirming its commitment to financial inclusion and social impact. 📊 OUTLOOK: - AVIOM HFC's latest debt funding from BlueOrchard Microfinance Fund underscores its dedication to addressing the housing finance needs of underserved communities, further enabling its mission of providing affordable housing solutions and promoting financial inclusion across India. Aviom India Housing Finance Private Limited #AVIOMHFC #HousingFinance #DebtFunding #BlueOrchard #FinancialInclusion #StartUpNews #BusinessNews #MicroShots #NewsUpdates

Al to core biz focus: How Paytm is taking a shot at profitability It plans to apply for a payment aggregator licence with the RBI and has recently received approval for foreign direct investment from the Indian government. #AI #CoreBusiness #PaytmProfitability #PaymentAggregator #RBIApproval #FDI #ETBFSI #BFSI https://lnkd.in/gPe-P-Wg

Fintech unicorn Perfios PAT surges over 9X to Rs 72 Cr in FY24: SaaS-based B2B fintech firm Perfios has continued its growth streak in the fiscal year ending March 2024. The company registered 37.1% year-on-year growth in its revenue which crossed the Rs 550 crore threshold in FY24. Moreover, its profit surged over 9X in this period. Perfios’ revenue from operations grew to Rs 557.8 crore in the last fiscal year (FY24) from Rs 407 crore in FY23, its consolidated financial statements filed with the Registrar of Companies (RoC) show.  Perfios provides revenue analysis, fraud checks, verification, and automated customer onboarding to financial institutions in verticals including consumer lending, SME lending, and wealth management. The company claims to have a presence in 18 countries and to have powered over 1,200 institutions with its offerings.. Its income from services increased by 29.3% to Rs 472.2 crore in FY24, while earnings from software coding and maintenance spiked 100% to Rs 82 crore during this period. The Kedaara Capital-backed company collected Rs 3.57 crore from subscription fees. Perfios also made Rs 11 crore from gain on investment and bank deposits which propelled its total revenue to Rs 569.47 crore in FY24. With Rs 291.16 crore, employee benefits costs for Perfios rose 36.4% year-on-year in FY24. Legal, professional, technology including other overheads jumped to Rs 161 crore from Rs 128.8 crore in FY23. Costs incurred on depreciation and amortization increased 13.1% to Rs 36.3 crore from the previous year’s Rs 32.1 crore.  Ultimately, the company’s total expenses spiked 28.3% to Rs 495.5 crore in FY24 from Rs 386.4 crore in the previous fiscal year. On a consolidated basis, Perfios’ profit after tax (PAT) zoomed 9.2X year-on-year to Rs 71.67 crore in FY24 from Rs 7.79 crore in FY23. Notably, it reported a standalone profit of Rs 57.19 crore in the said fiscal. Its ROCE and EBITDA margins improved to 7.07% and 20.58%, respectively. On a unit level, it spent Rs 0.89 to earn a rupee in FY24. As of FY24, the company held Rs 255.28 crore in cash and cash equivalents, along with an additional bank balance of Rs 119 crore. It also had receivables totaling Rs 143.33 crore at the end of the last fiscal year. According to startup data intelligence platform TheKredible, Perfios has raised Rs 3,644.45 crore in total funding across several rounds. The company raised Rs 662 crore ($80 million) from Kedaara Capital in March 2024 at a valuation of over $1 billion. It emerged as the second unicorn of 2024 from India. The company acquired fintech startup Karza Technologies in a deal worth Rs 600 crore during March 2022. The numbers from the fintech firm are certainly beginning to show just why it is so highly valued and regarded. Being comfortably profitable will be an added advantage as it seeks to maintain the momentum in the competitive and… #startupnews #startups

Fintech Sector Pins High Hopes on 2024 Union Budget | Business - Devdiscourse: The fintech industry eagerly anticipates the 2024 Union Budget for policy measures fostering fintech and banking collaboration.

Startup Central | How will BitOasis's market help CoinDCX's growth plans? Sumit Gupta, Co-Founder of CoinDCX, shares details of the acquisition, expansion plans, financials and more Avanne Dubash Sumit Gupta BitOasis