RBI Blocks CRED's Attempt To Increase Stake In Newtap Finance
The RBI has blocked the attempts of CRED to increase its stake in Newtap Finance, an NBFC founded by CRED founder Kunal Shah.
Source: inc42.com
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RBI rejects Cred bid to boost stake in Newtap Fin
The fintech’s plan to increase its stake in Newtap Finance, formerly Parfait Finance and Investments, from the current 23.6% stake suffered a setback after the regulator returned Cred’s application.
Source: livemint.com
rbi nbfc licence roadblocks: One Card founders and Uni Cards NBFC licence applications face roadblocks from RBI
ET has learnt that sellers need to apply to the central bank saying that they intend to transfer the licence to the acquirers name.
Source: indiatimes.com
Kunal Shah's Newtap Finance Posts INR 5.6 Cr Profit In FY23
Newtap Finance, an NBFC founded by CRED founder Kunal Shah, posted a net profit of INR 5.63 Cr in FY23, the first year of its operations.
Source: inc42.com
cred spennyz: Cred acqui-hires YCombinator-backed fintech Spennyz
Founded in 2019 by Shah and Gaurav Arora, Spenny was a micro-investment platform that nudged users to invest small amounts of money in mutual funds and digital gold every time they chose to spend.
Source: indiatimes.com