Mumbai-based self-driving car rental startup Drivezy has just received funding of Rs. 65 crore ($10million) as part-equity and part debt. The company used to be known as JustRide earlier. Of this, $5 miilion has been made by Axan Partners, Das Capital and IT Farm, which have their origins in the …
Tag: ICICI Bank
FM launches Google’s India exclusive Tez app to create a digital ecosystem for all
Tez is working towards a digital ecosystem that brings together millions of smartphone users, small merchants, large businesses, and financial institutions — all built on the UPI infrastructure
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Online credit score start-up CreditVidya raises $5 m in series B from Matrix Partners, others
CreditVidya, which uses data to provide credit scores for individuals, has raised $5 million in its series B funding round led by Matrix Partners India. The Mumbai-based company’s existing investor Kalaari Capital has also participated in the latest fund raise. CreditVidya co…
Lendingkart raises $10.74 m in bridge round, eyes more funding
Lendingkart Technologies Pvt. Ltd, the technology and digital marketing arm of Ahmedabad- and Bengaluru-based fintech startup Lendingkart, has raised Rs 69.02 crore ($10.74 million) in a bridge round. Lendingkart issued 23,294 preferential shares, mainly to existing investors, at Rs 29,634 apiece…
Zone Startups to promote WomePreneurs building tech enabled ventures
Zone Startups, the India arm of the Toronto-based tech accelerator has roped in Microsoft, Department of Science and Technology, Tata Trust’s Social Alpha, Cherie Blaire Foundation, ICICI Bank and Amazon to promote women entrepreneurs building technology-enabled ventures…
For MSME suppliers, it pays to get on the TReDS platform
Micro, small and medium enterprises (MSMEs) supplying to top-notch corporates can get their invoices discounted at or close to banks’ benchmark lending rates if they get on to the Trade Receivables Discounting System (TReDS). This is so because financiers — banks and non-banking finance companies…
Easy loans come to rescue as SMEs inch towards GST
Banks releasing working capital loans for SME clients & providing own readymade SaaS-enabled platforms for easier GST compliance; Online lenders trying to tap into post-GST market
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RBI may review TReDS platform for hindrance-free financing of trade receivables
The Trade Receivables e-Discounting System (TReDS) is likely to be reviewed by the Reserve Bank of India and the government. The system of invoicing has made large companies to be spartan as competitors will identify their MSME suppliers. As TReDS is a transparent system, it is mandatory for comp…
Delay in IT security clearance not to affect GST launch: Arun Jaitley
Finance Minister Arun Jaitley said GST rollout will not be impacted by any delay in security clearance to GST Network, the IT backbone provider for the new indirect tax system. “It (GSTN) is already functioning,” he told reporters here. Security clearance to GSTN is a “procedura…
Banks & fintech start-ups see more value in cooperation than in rivalry
In 2011, ICICI Bank was confronted with a unique problem. Most of the frontend staff of India’s largest private sector bank by consolidated assets were reasonably fresh, and had to be quickly trained to interact online with customers. A lot of time was wasted toggling between multiple screens to …