FINTECH COMPANY
Anup Gupta exits Nexus, latest in a wave of senior VC departures
Anup Gupta’s upcoming departure from Nexus Venture Partners in June 2024 marks the end of nearly 17 years with the firm, contributing to a trend of significant exits within leading Indian venture capital firms. Notable recent departures include Puneet Kumar from SuprDaily and Sameer Brij Verma from Nexus, both of whom are pursuing new ventures.
'Excited about new horizons': Nexus Venture Partners’ Anup Gupta announces June 2027 exit after nearly 17 years
Anup Gupta, a partner at Nexus Venture Partners, announced his decision to step down in June 2027. He reflected on his nearly 17-year journey with the firm and the entrepreneurs he collaborated with. Gupta indicated he is ready to pass responsibilities to the next generation of leaders. He expressed gratitude for being part of India's startup ecosystem since its early days.
S Naren’s art of contra investing: HDFC Bank, Natco Pharma, other 7 top picks down up to 39% from 52-week highs. What this means
The portfolio of this contra fund is spread across 13 sectors with highest allocation in retailing of around 12.17%. This was followed by 11.79% in automobiles and ancillaries, and 11.21% in the healthcare sector. The fund holds 42.35% in large caps, 17.89% in mid caps, 24.27% in small caps, and 15.5% in others.
Binance Blockchain Week Bangkok 2026 reveals speaker lineup featuring global finance and crypto leaders
Binance Blockchain Week 2026, under this year’s theme of ‘Evolve’, will convene leading policymakers, central bankers, institutional asset managers and technology leaders.
Razorpay moves closer to public market debut as Sebi gives green signal to IPO
Razorpay has received Sebi's approval for its proposed IPO, bringing the fintech company's stock market debut closer. Targeting a potential 2027 listing, the company is reportedly exploring a Rs 5,500-6,500 crore fundraising amid valuation and profitability scrutiny.
Razorpay, Sembcorp Green Infra get Sebi nod to float IPOs
Razorpay Software Ltd and Sembcorp Green Infra recently received approval from Sebi for their initial public offerings, marking a major milestone in their growth journeys. Razorpay aims to secure Rs 5,000-6,000 crore to enhance its financial services platform, while Sembcorp Green Infra plans to raise Rs 3,750 crore to bolster its renewable energy initiatives.
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S Naren-managed ICICI Prudential Contra Fund unveils first portfolio since NFO; 34 stocks held, HDFC Bank top bet
ICICI Prudential Mutual Fund has unveiled the initial portfolio for its contrarian investment strategy fund, directed by S Naren. The ICICI Prudential Contra Fund seeks out mispriced opportunities in underperforming sectors. It features 34 stocks, with HDFC Bank as the foremost holding at 9.36%. Spanning various sectors, the fund emphasizes retail and automobiles, catering to long-term investors ready to capitalize on market sentiment changes.
Paraguay bank crisis sucks life out of bustling market
Ueno Bank's recent collapse has severely affected local vendors at Mercado 4 in Asuncion, where sales have plummeted. Many customers find themselves without money, leading to decreased foot traffic and consumer spending. Although the central bank has provided some refunds to depositors, the relief has not reached the local market. Vendors express deep concerns over their ability to sustain their businesses amidst ongoing uncertainty.
Norwest raises $4 billion fund for India, US and Israel investments
Norwest has raised $4 billion for its 18th fund, which will invest across India, the US and Israel. The 65-year-old firm, backed by Wells Fargo, has been active in India for 20 years and manages $2.5 billion in assets in the country. It invests $300-350 million annually in India, managing director and India head Niren Shah said.
RBI plans curbs on private equity firms controlling stakes in multiple non-bank lenders: Report
India's central bank is working on new rules to prevent private equity firms from holding controlling stakes in multiple non-bank lenders. The proposal aims to mitigate potential financial risks stemming from global private equity firms' investments. While larger stakes will attract greater scrutiny, smaller investments are encouraged to support growth in the financial sector. Recent data shows significant foreign investment in non-bank lenders, highlighting strong demand for credit.
5 reasons why your product should be nominated for the ET Product of the Year Awards 2026
India's product landscape is rapidly transforming, driven by innovative solutions and upgraded offerings that cater to consumer demands. The ET Product of the Year Awards 2026 aims to shine a spotlight on products that have significantly impacted the market, emphasizing their success, user adoption, and overall customer value. Businesses are invited to submit nominations for products that debuted or evolved during the designated period to celebrate their accomplishments.
Qcomm’s Diwali boost; Energy startups attract funds
Happy Wednesday! Quick commerce powered a strong festive season for D2C brands. This and more in today’s ETtech Morning Dispatch.
ET AI Business Transformation Masterclass heads to IIM Bangalore to decode enterprise AI adoption
The AI Business Transformation Masterclass & Awards 2026 at IIM Bangalore will feature leaders from IndusInd Bank, PhonePe, PepsiCo, Shadowfax, Myntra, Shopify, NVIDIA and other organisations. Sessions will cover agentic AI, voice technology, supply chains, contextual commerce and physical AI, followed by the ET Most Innovative AI Product Awards 2026.
Prosus widens India fintech play after years of consumer internet bets
The Amsterdam-listed technology investor is also close to investing in artificial intelligence-led credit management startup Oolka, people familiar with the matter said. Prosus evaluated credit-on-Unified Payments Interface (UPI) startup Kiwi in October and savings platform Jar in 2025 before deciding not to invest. Prosus declined to comment on specific deals.
India’s product landscape is changing: Which products are setting the benchmark across technology, finance, and consumer markets?
The ET Product of the Year Awards 2026 showcase India's rapidly growing product ecosystem by honoring groundbreaking innovations across diverse sectors such as enterprise technology, financial services, and consumer markets. These awards place emphasis on products that have made a significant market impact, gained customer adoption, and demonstrated exceptional innovation, motivating companies to present their tangible successes and contributions to the industry.
IIFL Finance board to weigh Blackstone, Advent proposals for Rs 5,000 crore capital raise
IIFL Finance's board will consider separate investment proposals from Blackstone and Advent International for a nearly Rs 5,000 crore capital raise, as the lender also explores a potential transaction involving Fairfax's stake sale.
Digital lenders clock 40-50% revenue growth as credit demand surges
Digital lender Kissht's revenue from operations rose 44.7% year-on-year to Rs 732 crore, while Moneyview reported 41% growth to Rs 1,120 crore. MobiKwik's financial services revenue increased 41.8% to Rs 87 crore, while Paytm's financial services distribution revenue grew 49.3% to Rs 912 crore.
Piyush Goyal to visit Egypt with big business delegation; India eyes trade, investment partnerships
Commerce Minister Piyush Goyal will visit Egypt next week with a large business delegation to explore investment and collaboration in sectors including startups, fintech, pharmaceuticals and automobile components. The visit comes as India seeks to deepen its strategic engagement with West Asia and position Egypt as a gateway to African, Arab and European markets.
AvenuesAI Q2 revenue jumps 47% as AI-first fintech transformation gathers momentum
AvenuesAI reported a steady set of second-quarter FY27 numbers, with the company continuing to build momentum behind its broader transformation from a payments gateway-led business into an AI-first financial technology infrastructure platform.
MobiKwik shares jump 4% as RBI approves NBFC licence; co targets Rs 5,000 crore loans
MobiKwik shares gained on Friday after the RBI granted its subsidiary a licence to operate as an NBFC, enabling the fintech company to enter direct lending. MobiKwik plans to disburse Rs 5,000 crore in loans over the next three to four years, targeting consumers and MSMEs through secured and unsecured products.
India flags Chinese-linked AI tools in hacking campaign against financial firms
India's cybersecurity agency named the hacking group behind a wave of AI-driven attacks on financial firms and identified its tools, at least two of them linked to China, adding India to a growing list of countries where
AI-based cyber threat executing unauthorised fund transfers from banking firms: Cert-In
The Indian Computer Emergency Response Team (Cert-In) has named the incident "Crafty Falcon", which uses publicly available AI tools to execute complete attack chains autonomously at machine speed and generate and refine large numbers of tailored attack scripts in rapid succession.
Razorpay gets Sebi nod for Rs 5,000-6,000 crore IPO: sources
ET reported on April 20 that Razorpay was preparing a confidential IPO filing to raise Rs 5,500-6,500 crore at an expected valuation of $5 billion (Rs 49,000-50,000 crore), below the $7.5 billion (around Rs 6,000 crore then) it commanded in its last major private funding round in 2021.
From SBI to Binance, how financial institutions are becoming cyberattack targets
Recent incidents involving cryptocurrency exchange Binance and Indian public sector lender State Bank of India (SBI) have once again put the spotlight on the issue. While Binance reported a security breach involving unauthorised cryptocurrency withdrawals estimated at around $6.3 billion, SBI is investigating a suspected data leak involving nearly 3,900 customer records.
AI on the clock as fintechs demand payoff for spends
September-quarter earnings calls of Paytm, Pine Labs, Groww, PB Fintech, Kissht and Mobikwik reveal a shift across payments, stockbroking, lending and insurance. AI is moving beyond chatbots and experiments into decisions affecting the cost of acquiring, serving and retaining customers.
IPO-bound StockGro's profit jumps 3-fold to Rs 113 cr in FY26 on strong revenue growth
In FY26, StockGro showcased substantial growth, achieving a profit after tax of Rs 112.96 crore while nearly doubling its revenue to Rs 226.14 crore, largely propelled by rising subscription fees. Operational costs increased, leading to higher total expenses. As the company gears up for an IPO, preliminary papers have been submitted to Sebi, with StockGro currently serving over 35 million users and capitalizing on India’s booming retail investment market.
Razorpay gets final Gift City licence to expand cross-border payments
Razorpay has attained a payment service provider licence from the International Financial Services Centres Authority. This licence allows the company to process foreign-currency payments from its base in Gift City, Gujarat. The approval enables Razorpay to offer multi-currency accounts and facilitate international transactions. With established integrations with RBL Bank and ICICI Bank, the service is expected to be utilized shortly.
PB Fintech's UAE insurance business grows 19-fold as it looks beyond motor cover
PB Fintech has achieved impressive growth within the UAE insurance landscape, notably boosting its premium volumes since FY22. With a strategic plan in place, the company intends to diversify its offerings by introducing health and life insurance solutions geared towards NRIs. Key features will include cross-border protection and simplified claims processing.
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