Along with ICICI Bank and Axis Bank, Amazon has also partnered with fintech startups Pine Labs and BillDesk to set a New Umbrella Entity (NUE) that will build a UPI-like settlement system in India s digital payments space.
Monday, 22 Feb 2021 08:15 AM MYT
A senior official in charge of supervision at Lithuania’s central bank, Jekaterina Govina, said during the Brexit transition period, fintech companies began to search for an alternative EU harbour and thus Lithuania has become one of their primary options. Reuters pic
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VILNIUS (Lithuania), Feb 22 Thanks in part to Brexit, Lithuania is becoming a fintech hub as a growing number of UK-linked digital financial companies are getting licences there so they can continue to operate in the European Union.
The Baltic eurozone state with a population about a third the size of London is now leading the EU in fintech with over 230 companies, according to the Invest Lithuania government agency.
Fintech firm ISFC in talks to raise $12 million in equity and debt
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In view of the pandemic, Hyderabad-based Indian School Finance Company (IFSC) is looking to extend interest-free fixed instalment loans and help drive schools towards digital transformation.
Hyderabad: Fintech startup Indian School Finance Company (ISFC) is in talks with family offices to raise fresh equity of Rs 50 crore and an additional Rs 50 crore in debt (about $12 million overall) through non-convertible debentures in its eighth round of funding.
The education sector lender, which is backed by US-based impact investor Gray Matters Capital and Caspian, has so far raised around Rs 150 crore in equity and disbursed around Rs 350 crore worth of loans.
Budget 2021-22: How favourable was it for digital lenders?
Fintechs, reaching out to the under-served - /iStockphoto×
Government support is crucial for fintechs to serve the financial requirements of the unbanked sections of society
While presenting this year’s Budget, the Finance Minister had an onerous responsibility. In the span of a pandemic hit year, India experienced its largest-ever GDP contraction and is also reeling from a severe crisis: both humanitarian and economic.
The whole financial system came to a grinding halt and there were many who were hoping to hear some good news in the Budget.
Fortunately, the reality lived up to the expectations and the Finance Minister was lauded for her bold and growth-oriented Budget. The huge focus on spending especially in critical sectors like Healthcare, where ₹2.23 lakh crore was allocated, infrastructure which got a 26 per cent hike in allocation compared to 2020-21, along with hiking the FDI cap in insurance from 49
“In an increasingly connected world, though people are moving across countries at an accelerated pace, the
global financial systems are archaic and fragmented, creating headwinds for a global citizen. With Zolve, we aim to create
a financial world beyond borders that provides equitable access to global financial products on one single platform. Our cross-border neobank will enable global citizens to access financial products seamlessly, save money and invest it further, helping them be financially free to pursue their ambition, no matter where they are, ” said Raghunandan G, Founder of Zolve.
Anand Daniel, Partner at Accel, said, The global citizen community is largely underserved in terms of access to financial services and we believe that there is