Having made a string of technology investments in India, Japanese telecom and Internet giant SoftBank has said its investments in the country will top $10 billion in 5-10 years. SoftBank, which owns one of Japan’s biggest mobile carriers and a controlling stake in US-based Sprint Corp, will…
Companies, Finance & Markets
Bahrain wants India to mentor its financial technology & gaming startups
Startup India has struck a chord with Bahrain, so much so that the West Asian country wants to have its own version of the programme initiated by Prime Minister Narendra Modi. Bahrain wants Indian startups working in areas of financial technology and gaming in particular to expand base in the cou…
Snapchat raises $1.81 billion in new funding round
Messaging app Snapchat Inc has raised $1.81 billion in an equity offering, indicating strong investor interest in the company despite concerns that it is struggling to attract advertisers. Snapchat did not disclose its valuation in the latest round of funding in its filing on Thursday. However, t…
Freecharge CEO eyes 7 million daily transactions
Touching seven million daily transactions is on top of the agenda for Freecharge’s new Chief Executive Govind Rajan , as he takes over from Kunal Shah , the founder of the digital payments platform , who stepped aside from the role earlier this week. Rajan, who prior to his elevation, held …
Arpwood, Indostar vie for $400m Karvy NBFC
At least two bidders — Arpwood Capital, and Indostar Capital Finance (which is jointly owned by Everstone Capital and Goldman Sachs) — are in the fray to acquire the non-banking finance company (NBFC) Karvy Finance, people directly familiar with the matter said. Karvy Finance is a lender to micro…
Tata Teleservices eyes biz from SMEs in region
Tata Teleservices is eyeing business from small and medium enterprises (SMEs) in Nagpur and nearby areas. After laying a network of 1200 kms cable in Nagpur region, the company has launched enterprise-based solutions in city. The product is specially targeted at the SMEs. The company aims to add …
New rating guidelines will enhance credibility | CRISIL
Credit rating agency CRISIL, which pioneered ratings for MSMEs too in India, feels that the revised guidelines on the Performance and Credit Rating Scheme (PCRS) by the Union Ministry of Micro, Small and Medium Enterprises, will enhance the credibility of the ratings and increase its usage across…
Axis Bank incorporates subsidiary to operate TReDS
Private sector lender Axis Bank said it has incorporated a subsidiary A.Treds Ltd to operate Trade Receivables Discounting System (TReDS), which will help in improving flow of funds to SMEs. In November last year, the RBI had given in-principle approval to three entities to set up TReDs. The othe…
Askme Fin plans payment services for SMEs
E-commerce marketplace Askme Bazaar plans to help small and medium vendors who are transacting on its site by arranging credit and insurance products for them. These services will be provided via Askme Fin, the groups’ financial services platform. In the last 2-3 months, Askme Fin has helped abou…
Mahindra Finance to raise Rs 1000 cr from NCDs
Mahindra Finance said it will raise Rs 1,000 crore through retail bond sale. The public issue of thecthe first from the company, will open on May 25 and closes on June 10, said the NBFC from the Mahindra group. Mahindra Finance Vice Chairman and Managing Director Ramesh G Iyer said it is their ma…