FinTech | Page 5

The investment will help fuel the fintech firm's expansion plans

The company has plans to transition towards more relationship-based offerings shortly which would involve assisting students in rating and reviewing courses and educational services, enabling them to make informed decisions and fostering better connections.

The equity fund raise is subject to customary closing conditions, including regulatory and shareholder approvals

The platform aims to reach INR 10,000 crore in AUM by 2025 and be among the top three pure-play MSME lending institutions in the country

The report also stated that the facilitation fee of 0.3% can generate around INR 5,000 crore in 2023-24

The fund raised will help Plutus build new tools to expand the monetisation potential for content creators

Since most fintech companies in India offer a wide range of products and services across sub-categories of finance, the legal requirements and compliances automatically become complicated

The funding will be used to further enhance the technology, attract new markets and customers while continuing to provide unparalleled service to the existing partners

The company plans to deploy these funds to build and scale new businesses like insurance, wealth management, lending, stockbroking, ONDC-based shopping and account aggregators

The new fund raised will be utilised to strengthen the company's financial product distribution business and scale up the right talent

The company focused on building and digitizing the Infra rails from various assets and innovating in this space with asset originators, depositaries and lenders

The Reserve Bank of India (RBI) has said that the financial technology, or fintech, sector should organize itself under a self-regulatory organization that can monitor the conduct of member fintech entities

The company plans to deploy the raised capital to ramp up its tech stack and double down on the existing product portfolio

The fund raised will be used to rapidly scale AUM, improve the existing technology stack as well as to build and expand the team

The company plans to deploy these funds to scale up its payments and insurance businesses in India, as well as to launch and aggressively scale new businesses

The research reportedly highlights that the next 100 million customers are likely to have a vastly different profile and expectations than those currently in place

Kristalina Georgieva congratulated India on its strong economic performance in challenging global times and its role at the forefront of digitalisation of the economy, especially in the area of digital payments

The minister also mentioned that the Prime Minister's Vision of the digital revolution is having a transformative impact on the hard-to-reach people in the country

The current launch supports all international merchant outlets in UAE, Singapore, Nepal and Bhutan that have a local QR code

As part of the funding, LoanTap has received one of the first cheques for its unique digital lending platform, LTFLoW

The proposed digital currency would be denominated in pounds, with 10 pounds of digital currency always equal to a 10-pound note