Weekly FinTech Scoop
The FinTech industry has gone through swings in the pandemic. Yet there have been updates and news coming up related to FinTech which have showcased that the efforts, innovation and spirit to fight never went down. Some of the fintech news related to funding, acquisitions and new launches were witnessed in the past week which have been briefed down in shots to honour the FinTech players.
Insurtech startup Finsall raises Rs 2.4 crore in seed round.
It has raised Rs 2.4 crore in a seed round from Unicorn India Ventures. The other participants were SEA Fund and angel investors like Karthik Sridhar and Tirumala Gudla.
The startup plans to use these fresh funds to expand its operations in India into Tier I cities and beyond.
Phi Commerce raises $4 million in Series-A funding round.
Phi Commerce raised $4 million in a Series-A funding round led by Beenext and Yatra Angel Network (YAN).
The funds will be used to boost its product offering and expand in existing markets and enter new geographies.
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Punjab National Bank, IIT Kanpur partner to set up Fintech Innovation Centre.
Fintech Innovation Centre will facilitate research and development of technological solutions for the challenges and explore opportunities in the BFSI spectrum.
Fin-Tech partnership will help build innovations and entrepreneurial excellence. Focus areas include Fintech, Digital Lending, Payments, Cyber Security, etc.
Walmart to launch fintech company with Robinhood, Affirm backer.
Walmart Inc. will start its own fintech company, with the help of investment firm Ribbit Capital, which has backed investment platform Robinhood and Credit Karma.
The venture will bring together Walmart’s retail knowledge and scale with Ribbit’s fintech expertise to deliver tech-driven financial experiences aimed at Walmart’s customers and associates.
Fintech startup Siply raises $1M in seed round led by Inflection Point Ventures.
Siply, raised $1 million in a seed round led by Inflection Point Ventures, one of India’s active angel network.
The funds will be utilised for team expansion, scaling up technology platform, and conducting initial pilots with the partners.
Wishfin Acquires Fintech Startup Ladders
Ladders has created a multi-stage user experience that helps customers understand products like Mutual Funds and Insurance better and make the right financial decision.
This unique user experience of Ladders allowing easy access to financial products, is what Wishfin has been looking for to improve the digital access to these products.