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Navi acquired consulting firm MavenHive in 2019, in order to boost product development. [7] The company operates from an office in Bengaluru’s Ibbaluru, Bellandur area. [4] [8] In August 2023, it was announced Navi Group had sold Chaitanya Microfinance to the Mumbai-headquartered microfinance company, Svatantra Microfin for $178.5 million.[30]
LenDenClub works with fintech companies such as BharatPe, [9] PhonePe, Google Pay, [10] and announced its collaboration with Samir Kochhar, to launch its first brand campaign. [ 11 ] [ 12 ] In December 2021, LenDenClub received $10 million in series A round funding, with participation from various investors at a valuation of $51 million. [ 13 ]
The Mumbai Fintech Hub is an investment platform, which was started by the Government of Maharashtra in the Mumbai Metropolitan Region. [ 1 ] [ 2 ] It is an initiative by the Government of Maharashtra to promote the fintech ecosystem in the state of Maharashtra .
The company was founded in 1988 by Jignesh Shah and is headquartered in Mumbai, India. [9] [10] It offers technology-based intellectual property to create and trade on financial markets. [11] It had its first IPO in 1995. The company introduced its first commodity derivatives trading platform, the Multi Commodity Exchange (MCX) in 2003. [12]
"Fintech", a clipped compound of "financial technology", refers to the application of innovative technologies to products and services in the financial industry.This broad term encompasses a wide array of technological advancements in financial services, including mobile banking, online lending platforms, digital payment systems, robo-advisors, and blockchain-based applications such as ...
IDfy was founded in 2011 in Mumbai by Ashok Hariharan [5] [6] [7] and Vineet Jawa. [8] Before this venture, Ashok Hariharan worked at British Telecom, while Vineet Jawa was a co-founder of the fintech firm CredRight. [3] In 2012, IDfy raised seed funding from Blume Ventures.
Zeta is a banking software company that was founded by Bhavin Turakhia and Ramki Gaddipati in 2015. The company provides credit and debit card issuer processing, BNPL, core banking and "mobile experiences". [5]
The number of newly founded startups has increased from 733 in 2016–17 to over 14000 in 2021–22, making India the third largest startup ecosystem in the world after the US and China. [3] Among them, around 6600 startups have been in the FinTech industry, evaluating a market value of US$31 billion in 2021. [4]