Yes Bank appoints Pankaj Sharma as chief strategy and transformation officer
Prashant Kumar, managing director and CEO of Yes Bank, says Sharma’s appointment comes “at an important juncture”.
Prashant Kumar, managing director and CEO of Yes Bank, says Sharma’s appointment comes “at an important juncture”.
The round consists of $50 million in debt funding and $12 million in equity.
The funding came from Kedaara Capital, and existing backers Warburg Pincus and Bessemer Venture Partners.
The deal marks another step in Finbots.AI’s push to scale across APAC.
A handy round-up of the recent funding endeavours of fintech companies across the globe.
The Yes Bank Zaggle corporate credit card seeks to enable businesses to tap operation efficiencies.
The Blaze platform aims to ensure high durability during peak workloads and improve fraud prevention.
PhonePe says the collaboration marks a “significant milestone” in its data journey.
Manohar Chadalavada is leaving the bank to be the co-founder of a fintech start-up currently in stealth.
The tech will enable users to converse with an AI system to initiate and complete transactions.
Zolve’s telecom-financial offering is tailored for expats pursuing educational or professional opportunities in the US.
Strive India will focus on micro-enterprises, women-led businesses and agri-entrepreneurs in the country.
The round was led by Westbridge Capital, Accel, Tanglin Ventures, Beams Fintech Fund and other strategic investors.
On completion of the deal, Svatantra says it will become the second largest microfinance entity in India.
Sharma’s shareholdings in Paytm will increase to 19.42%, while Antfin’s shareholdings are reduced to 13.5%.
PayU says the sale will allow it to focus on “the huge fintech opportunity” in India.
The announcement follows JFS’s recent demerger from Reliance Industries.
Bain Capital will pick up a 90% stake, with current CEO Gaurav Gupta retaining the other 10%.
The Saudi bank selected TCS BaNCS to digitise its IT landscape across deposits, lending and payments.
The solution targets MMEs that lack experience and accessibility of financial and non-financial products.
Apple is reportedly exploring a partnership with HDFC Bank in India to roll out a credit card offering.
As part of the partnership, Infosys will also acquire Danske Bank’s India IT hub, employing over 1400 people.
The MoU will help establish a joint working group on fintech between the two countries.
Our weekly fintech round-up for you to get the latest funding news from around the world.
Keytrade Bank chose Infosys Finacle due to its “worldwide expertise, implementation plan and price offering”.
The spending account will be integrated with Fino Bank’s digital savings app, accessible on its mobile app FinoPay.
Pepper Money India will offer personal finance products to consumers and aims to launch second half of 2023.
Lentra plans to use the new funds to fuel its international expansion and product development.
With the latest funding, PhonePe has raised a total of $850 million in the current round.
Turing CBS is understood to have replaced FIS’ Profile core banking system at NESFB.
Lizzie Chapman, Ashish Anantharaman, and Priya Sharma are all set to leave the company.
Onkar Inamdar joins as head of engineering and Syam Chintapenta as chief development officer.
Open says the cuts were based on employee performance.
Sopnendu Mohanty, chief fintech officer at MAS, discussed the country’s strategies and successes at IFGS 2023.
PhonePe has received the new funding from returning investor General Atlantic.
The agreement marks Navan’s fifth acquisition in the last two years.
Also taking part in the round was existing investor Sumitomo Mitsui Trust Bank.
PhonePe was in talks to acquire ZestMoney for around $200 million to $300 million according to reports.
The latest funding follows the company’s $270 million Series C round held in June last year.
The fresh funding forms part of PhonePe’s ongoing fundraise of up to $1 billion in capital.