EarlySalary.com, a fintech startup that offers personal loans, will raise $5-6 million in the coming months as it looks to expand its presence across cities like Hyderabad, Visakhapatnam and Jaipur. The Pune-based firm offers loans ranging from Rs 10,000 to Rs one lakh for a tenure of 7 to 30 day…
Tag: fintech
Bank of Baroda partners with CreditMantri for lending to first-time borrowers, SMEs
Public sector lender Bank of Baroda on July 25 announced that they will be using alternate data sources for lending decisions in partnership with Creditmantri, a Chennai based fintech startup. Historically banks have been relying on physical verification of documents and credit bureau data for ta…
RentoMojo receives $5 mn funding from Accel, IDG Ventures
Online rental solutions company RentoMojo has raised funds of $5 million in a first strategic round (Series A) from IDG Ventures and Accel Partners. The funds raised will be used to further strengthen the product and data driven structure within the company, it said in a statement here on July 18…
SIDBI picks eight ventures to invest Rs 428 cr in startups
The Small Industries Development Bank of India (Sidbi) has chosen eight venture funds to invest in startups as defined under the Startup India Action Plan and will support them with a corpus amount of Rs 428 crore. Sidbi’s Venture Capital Investment Committee (VCIC), which comprises former …
SMEs need flexibility in repayment instruments & schedules | Harsh Chamria, SME Business Head, Magma Fincorp
Driven by single, purposeful goal – investing in the smallest dream – Magma Fincorp’s 26 years’ experience as financier has enabled the company to extend support to the masses that have been excluded by the traditional financial systems. When it comes to getting the business up and running, Magma…
The travel industry boards the fintech revolution
Fintech. Much more than a buzzword, it is now spurring countless innovations that are disrupting financial services from banking to insurance. Last year alone, over $19b was invested in Fintech startups globally, cumulating in over $40b invested in the last five years. Fintech’s growth seems unst…
Hyderabad-based fintech start-up lets you get a loan in a minute
Does the notorious credit scores and unending list of documents worry you while applying for a bank loan? A Hyderabad-based fintech start-up says now one can forget all that and tap their ‘social’ score to get a loan. Customers can get a ‘need loan’ in flat one minute — at any time of the day [&h…
Axis Bank unveils ‘Thought Factory’ in Bengaluru for startups
Axis Bank has announced the launch of ‘Thought Factory’, an innovation lab facility aimed at accelerating the development of innovative technology solutions, for the banking sector. The innovation hub located in Bengaluru has an in-house innovation team and an accelerator program. The…
SBI rolls out Rs. 200-cr start-up fund
State Bank of India seems to be setting great store by start-ups in the financial technology (FinTech) space. After starting an exclusive branch for start-ups in Bengaluru earlier this year, it has set up a Rs. 200-crore fund to provide assistance to them. SBI Chairman Arundhati Bhattacharya said…
Mphasis and ToneTag partner to revolutionize mobile payments
Mphasis, a leading IT services provider, and ToneTag, a sound based proximity communication provider, announced a strategic partnership to provide a range of digital banking solutions for the banking and retail industries. As part of the agreement, Mphasis will collaborate to build solutions and …