ProFinTech Technologies’ Post

The fintech landscape in South India continues to flourish in 2024, cementing the region's position as a major hub for financial innovation. Bangalore, Chennai, and Hyderabad are leading the charge, collectively hosting over 1,500 fintech startups. These companies have raised an impressive $3.2 billion in funding this year alone, a 25% increase from 2023. South Indian fintech firms are making significant strides in areas such as digital payments, lending, and wealth management. The region's UPI (Unified Payments Interface) transactions have surged to an average of 2 billion per day, with South Indian states accounting for 40% of the national volume. Additionally, AI-powered lending platforms originating from the region have disbursed loans worth $5 billion to MSMEs in the past six months, bridging crucial gaps in small business financing. The talent pool in South India continues to be a key driver of this growth. The region's educational institutions have ramped up their fintech-focused programs, producing over 50,000 skilled graduates in 2024. This influx of talent, combined with a supportive regulatory environment and robust infrastructure, has attracted global fintech players. Five international fintech unicorns have set up their Indian headquarters in South Indian cities this year, further enriching the ecosystem. As we look ahead, South India's fintech sector is poised for even greater heights. With its blend of technological expertise, entrepreneurial spirit, and growing market demand, the region is well-positioned to shape the future of finance not just in India, but on a global scale. #FintechIndia #SouthIndianTech #DigitalPayments #StartupIndia #BangaloreFintechHub #ChennaiStartups #HyderabadTech

India's fintech market is now the third largest globally, boasting 26 unicorns and 120 potential soonicorns, valued collectively at over USD 120 billion. This incredible growth trajectory is reshaping our financial ecosystem, driven by innovations in digital payments, blockchain, AI, and more. As we witness this transformation, we're seeing an unprecedented surge in demand for skilled professionals who can navigate and propel this evolving sector. Key drivers of this fintech revolution include: - India's UPI system has become a global benchmark, processing transactions to the tune of ₹80.8 lakh crore ($964 billion) in April-July 2024. - Beyond cryptocurrencies, blockchain is revolutionizing areas like supply chain finance, cross-border payments, and digital identity verification. - AI and Machine Learning technologies are enhancing credit scoring, fraud detection, and personalized financial services. - Digital-only banks are challenging traditional banking models, offering seamless, app-based financial services. This rapid evolution is creating an unprecedented demand for skilled professionals who can navigate this complex, technology-driven financial ecosystem. Sustaining this momentum requires a workforce equipped with cutting-edge skills. We've partnered with top IIMs and institutions to offer state-of-the-art fintech programs. Our initiatives have already empowered over 500 learners, attracting participants from industry giants like EY, JP Morgan Chase & Co, Barclays, Standard Chartered, and Accenture. What's truly exciting is the diversity of the cohorts. We're witnessing professionals with 2 to 20+ years of experience, holding positions such as Founder, Directors,  VPs, Business Heads, Managers, Consultants and many more. Our learners come beyond metro areas as well, with participation from Tier 2 and 3 cities like Nagpur, Thane, Lucknow, Ahmedabad, Jaipur, Indore, Aurangabad, Etawa, Ghaziabad, Gandhinagar and many more. These programs are launchpads for the next generation of fintech leaders. Bridging the gap between traditional finance and emerging technologies. Our greatest asset is human capital. By fostering a culture of continuous learning, we can unlock the full potential of India's fintech ecosystem. #Fintech #Edtech #Innovation #Upskilling #JaroEducation

10% of the richest Indians hold almost 65% of the wealth in India, and this number seems to grow every year. With the working class all but forgotten, the average blue-collar worker’s picture looks bleak. Founded in 2019, Kosh (Adhikosh) empowers this forgotten blue-collar workforce in tier 2 cities, who are kept outside financial walls and do not even have access to basic financial products like loans. Being a company operating in the lending space, Kosh’s primary challenge was to streamline EMI collections efficiently. Teaming up with Setu and leveraging our UPI stack, they transformed this process, enhancing efficiency and delivering a seamless payment experience. Explore Kosh’s journey here — https://lnkd.in/dAY_PYEV

💵 NBFC Vivifi India Raises $75 Million in Series B Round. 📈 Funding Success: Hyderabad-based non-banking financial company (NBFC) Vivifi India Finance has secured $75 million in its Series B funding round. The funding comprises a mix of $15 million in equity and $60 million in debt infusion. 🚀 Expansion Plans: Vivifi India plans to utilize the funds to expand its consumer reach and aims to grow its workforce to over 2,000 employees within the next 12-18 months. The current team strength is 700 employees. 💳 Buy Now, Pay Later Services: Founded in 2016, Vivifi India offers buy now, pay later (BNPL) services through its major product, FlexSalary, which provides an instant personal emergency line of credit. The startup also offers instant personal loans of up to INR 2 lakh through its FlexPay app. 🎯 Market Expansion: The company intends to explore opportunities in the MSME segment and sees significant potential in smaller cities. It aims to enhance its financial management features based on customer demand. 💰 Funding Breakdown: The Series B round includes $15 million in equity and $60 million in debt infusion, showcasing a diversified funding approach. 📊 Financial Performance: In FY23, Vivifi India reported a revenue of INR 166 crore, with a Profit After Tax (PAT) exceeding INR 16 crore from the previous fiscal. The company eyes a doubling of its revenue in FY24. 🌐 LendingTech Landscape: The funding aligns with the growth trend in the lendingtech sector in India, which occupies 60% of the fintech market and is projected to reach $1.3 trillion by 2030, displaying a 22% CAGR, according to Inc42’s State Of Indian Fintech Report. Vivifi India #VivifiIndia #NBFC #SeriesBFunding #LendingTech #Fintech 🌐 #StartUpNews #BusinessNews #MicroShots #NewsUpdates

The Fintech Yatra 2024: A Journey of Discovery and Connection Looking at our journey covering over 60 days and 5000+ kilometers, we've traversed through the heartlands of India's burgeoning fintech landscape, starting from Bangalore, Chennai, Hyderabad, Pune, Mumbai, Ahmedabad, Udaipur, Jaipur, and concluding in Delhi on 13th April. As we approach the culmination of this remarkable yatra with 320+ conversations and a series of upcoming events, we invite fintech founders to join us for the remaining leg of our journey: 🔹 Delhi Fintech Leg: 2nd-14th April (Connect at: yatra.connexdoor.com) 🔹 Delhi Fintech Breakfast: 6th April 🔹 Delhi Fintech Mixer: 12th April (To participate: https://lnkd.in/gm8ktjVr) 🔹 Jaipur Fintech Breakfast: 13th April Reflecting on our encounters: 🔹 Bangalore: A nucleus of innovation, where fintech ventures thrive alongside other pursuits. Notable themes include EV financing, wealth management, and the burgeoning digital CFO services for SMEs. 🔹 Chennai: Known for its steadfast dedication to long-term growth, Chennai fosters a conducive environment for sustainable development, with TSP as this year's prevailing theme. 🔹 Hyderabad: Catering to the needs of High Net Worth Individuals, Hyderabad's fintech scene thrives amidst robust infrastructure. Discussions revolve around PMS solutions, highlighting the city's grounded yet evolving ecosystem. 🔹 Pune: Positioned advantageously in proximity to Mumbai, Pune offers lower operational costs and an abundant talent pool. Just an hour away from Mumbai's financial institutions, Pune emerges as an enticing hub for fintech innovation. 🔹 Mumbai: Epitomizing expertise, Mumbai's mature entrepreneurial landscape focuses on B2B ventures, particularly in supply chain and trade finance innovation. 🔹 Ahmedabad: Emerging as a hub for diverse ventures, Ahmedabad blends consulting with product-driven entrepreneurship. Recent dialogues spotlight innovation in sectors like cross-border neo-banking and rural vehicle financing. #fintech #Delhifintech #Delhimixer #innovation

The remarkable FinTech companies that have been founded in #tamilnadu, #India: 🚀 Exploring Tamil Nadu’s #FinTech #Ecosystem! As the financial landscape continues to #evolve, Tamil Nadu has emerged as a hub for innovative FinTech startups. These companies are reshaping the way we manage #finances, access #credit, and #invest. Let’s dive into some of the trailblazers: Vivriti Capital : A #marketplace that bridges the gap for small enterprises and individuals lacking efficient access to financial services. Their mission? Empowering financial inclusion! M2P Fintech : An #API platform revolutionizing banking and payment products. Their seamless solutions empower businesses and consumers alike Bankbazaar.com : A neutral online marketplace providing instant customized rate quotes for #loans and #insurance products. Transparency and convenience at its best! Kaleidofin Private Limited Committed to financial well-being, Kaleidofin offers complete solutions for excluded #individuals and #households CreditMantri Data-driven and user-centric, CreditMantri provides #credit and #financial reports based on credit history. A game-changer for financial literacy! FundsIndia Known for its zero-cost, automated mutual fund #investment services. Simplifying wealth creation for all IppoPay Enabling payment solutions for #SMEs, #freelancers, and #homepreneurs. A local success story! Digifin With a comprehensive digital account #opening platform, Digifin is redefining digital banking Hypto Building tech #infrastructure for developers to power new financial use-cases. Innovation at its core! OpenTap Company Focused on financial empowerment, OpenTap aims to uplift the aspirational Indian population Remember, these companies are not just about profits; they’re driving societal impact and transforming lives. Let’s celebrate their contributions to the ever-evolving world of finance! #FinTech #Innovation #TamilNadu #FinancialServices Feel free to engage with these companies and explore their exciting journeys. 🙌🏽 If you know of any other remarkable Tamil Nadu-based FinTech startups, drop them in the comments below! 👇🏽 Mohan K

Ericsson and Indian Institute of Technology, Kanpur ties up for an exciting #FinTech future! 💳 #Innovation #education #IITkanpur #technology #futurism #management #strategic #growth #partnership #believeindia #india To read more in detail, click below: 👇 https://lnkd.in/gfvVSzXP

🌟 "Unveiling India's Finance and Fintech Hotspots: Where Opportunities Thrive!"🌟 🟢 Mumbai 🌆 Financial Capital: Home to the Reserve Bank of India (RBI), Bombay Stock Exchange (BSE), and numerous banks like HDFC and ICICI. 💡 Fintech Hub: Hosts a significant number of fintech startups and established companies like Paytm and PhonePe. 🟢 Bengaluru 🌐 Tech and Fintech: Known as the Silicon Valley of India, it has a thriving fintech ecosystem with many startups such as Razorpay and Zerodha. 🔬 Innovation: Strong focus on innovation and technology integration in finance, exemplified by companies like Niyo and Capital Float. 🟢 Delhi NCR (including Gurgaon and Noida) 🏢 Corporate Headquarters: Many multinational corporations and financial institutions have their headquarters here, including American Express and Standard Chartered. 🤝 Consulting Firms: Presence of major consulting firms like Deloitte, EY, and PwC, which offer extensive financial advisory services. 🟢 Hyderabad 🚀 Growing Fintech Scene: Rapidly emerging as a fintech hub with a focus on digital payments and blockchain technology, with companies like PayU and CoinSwitch Kuber. 💻 IT and Finance: Strong IT infrastructure supporting financial services, with giants like Infosys and TCS having major operations here. 🟢 Chennai 🏦 Banking Sector: Significant presence of banks and financial institutions such as Indian Bank and Bank of Baroda. 📈 Fintech Growth: Increasing number of fintech startups, including startups like CredAvenue and Kaleidofin. 🟢 Pune 🎓 Educational Hub: Proximity to top educational institutions like Symbiosis and IIM Pune, providing a skilled workforce. 💼 IT and Finance: Growing presence of IT companies offering financial services, with players like Persistent Systems and WNS Global Services. 🟢 Kolkata 💰 Traditional Finance: Known for its traditional banking and financial services, with institutions like Allahabad Bank and Bandhan Bank. 🌱 Emerging Fintech: Slowly growing fintech presence with companies like StockEdge and NBFCs like Srei. Discover the opportunities and innovations thriving in India's finance and fintech hubs. Share your experiences and insights from these hotspots in the comments below! Let's explore how these cities are shaping the future of finance together. #Finance #Fintech #Mumbai #Bengaluru #DelhiNCR #Hyderabad #Chennai #Pune #Kolkata #Innovation #Tech #Banking #Startups #BusinessOpportunities #IndiaEconomy #IndustryTrends #CareerGrowth #Networking #ProfessionalDevelopment

SalarySe , a Gurugram based fintech startup, was founded in mid-2023 by IIT graduates Piyush Bagaria and Saumeet Nanda , along with chartered accountant Mohit Gorisariya. Their goal is to offer credit to employees of mid-tier companies who may not have access to traditional banking services. What they do: SalarySe is building a technology platform that leverages the Unified Payments Interface (UPI) for providing credit. They plan to integrate with human resource management software used by mid-tier companies to access salary data. Users can then consume the credit line through UPI payments. Target Audience: They target employees of mid-tier companies, focusing on three types: tech services (IT firms, BPOs), manufacturing entities in small towns, and companies with a large field force like FMCG companies. Initially, they aim to reach around 50 million Indians with a monthly salary of less than Rs 1 lakh. Market Entry: The startup is currently in beta testing and working with one public sector and one private sector lender. They plan to go live in the next few months, starting with 20 to 25 companies in the first batch. Long-term Goal: Their vision is to create a financial wellness platform for employees, allowing them to access credit, invest, and manage their wealth. They plan to eventually build a virtual co-branded credit card within their app. Funding and Partnerships: SalarySe recently secured $5 million in seed funding from Peak XV Partners Surge and Pravega Ventures. They are collaborating with banks, given the RBI restriction on UPI credit to banks only. The founders believe that demonstrating the effectiveness of their data modeling, underwriting, and collection systems will enable them to tap into a broader market. In summary, SalarySe aims to fill the credit gap for employees in mid-tier companies, leveraging technology and UPI to provide financial services and promote financial wellness. #Fintech #StartupJourney #salary

*News Headlines from Business News Agencies :* *Business Standard :* 📝 Reliance Jio Q4 results: Profit rises 13.2% to Rs 5,337 cr, revenue up 11% 📝 CCI set to study impact of AI on competition, efficiency and innovation 📝 Vodafone Idea's Rs 18,000 cr FPO gets over the line; issue subscribed 1.5x 📝 Flipkart Ventures to invest up to $500,000 in GenAI-based startups 📝 Indian businesses saw 235,472 ransomware incidents from Jan-Dec 2023 📝 IndusInd Bank successfully executes RBI's programmable CBDC pilot 📝 Pine Labs' Setu names former SAP India executive Raisinghani as its CEO 📝 Raising capital would be a top priority for Dhanlaxmi Bank's new CEO 📝 Mahindra Logistics Q4 loss widens to Rs 12.85 cr on subdued volume growth 📝 Paytm Payments Bank board is independent, says CEO Vijay Shekhar Sharma 📝 Startup Accacia raises Rs 54 crore from investors to expand business 📝 Mutual funds collection through NFOs up 6.5% at Rs 66,364 crore in FY24 *Economic Times :* 📝 HAL, NAL sign tech transfer pact for Tejas engine day door production 📝 inDrive appoints Pratip Mazumder as country manager for India 📝 Spices Board examining Singapore, Hong Kong ban on few MDH & Everest products on quality concern 📝 Peak XV MD Piyush Gupta to leave VC fund 📝 CMS Info Systems to enter gold logistics, loan collection services 📝 Colgate-Palmolive announces benefits for employees with disabilities 📝 India's polished diamond exports drop 27.5% as key markets falter 📝 Macquarie's $1.5 bn India EV platform to focus on fleet electrification 📝 Passenger traffic at Mumbai airport rises 16% to 52.8 million in FY24 📝 Wet wipes containing plastic to be banned from sale in UK 📝 Byju Raveendran raised debt to pay March salaries 📝 HDFC Mutual Fund launches HDFC Manufacturing Fund *Mint :* 📝 Tata Power Delhi Distribution appoints Gajanan Kale as its CEO 📝 Reliance Q4 results: Net profit declines 1.8% YoY to ₹18,951 crore 📝 Tesla, Li Auto cut prices as China’s EV price war heats up 📝 Govt eyes new geothermal policy, demonstration projects of up to 25 MW 📝 RAJNISH RETAIL ORD Q4 FY24 Results: profit falls by 12.84% YOY 📝 Good Glamm gets default notices from IAN, founders of Sirona, Moms Cut 📝 Hatsun Agro Q4FY24 Results: Revenue up 14.4% YOY 📝 NCLT admits Subhash Chandra into personal insolvency on Indiabulls plea 📝 Rallis India Q4 FY24 Results: Revenue down 16.6% YOY 📝 Hero Moto’s Chief Technology Officer (CTO) Arun Jaura resigns 📝 Paytm launches new Made-in-India Soundbox for UPI and Credit Card on UPI payments