Asia CEO COMMUNITY’s Post

Complementary founders, Kushal & Parthesh have built a formidable company over the last few years. The company was called IndoInvesting in 2018, when Shashank met with the founders and decided to invest in their vision. Later rebranded to Knight FinTech, in line with their aim to thoughtfully revamp banking infrastructure for the new-age world. They had an incredible insight that while it would be difficult to predict which Fintech would be successful, the reality was that the market was moving in the direction of digital experiences. More importantly and alarmingly so, the infrastructure of incumbent banks or NBFCs was woefully incapable of supporting this transformation. Knight FinTech is a new age banking technology company that provides full-stack banking tech solutions in the domain of Co-lending, Lending and Treasury. The company leverages cutting edge technologies to simplify the complex banking problems using Cloud-first, API driven solutions. Knight FinTech's powerful suite of banking infrastructure solutions, coupled with flexible and secure middleware deeply integrates with legacy systems without displacing the existing systems, while bringing process efficiency, automation, and scalability at affordability. Randev Ventures (Family Office) is delighted to have had the opportunity to invest in the fintech startup in 2018. Since then they have gone on to raise capital from Prime Venture Partners, 3one4 Capital, Accel, Accel in India, Kunal Shah & others. Kudos to Kushal, Parthesh and team Knight FinTech for continuing to build a fintech for India, for Bharat! Learn more about what co-founders - Kushal and Parthesh are building: https://lnkd.in/deQsj7es National Payments Corporation Of India (NPCI) NPCI International Payments Limited (NIPL) Reserve Bank of India (RBI) SIDBI(Small Industries Development Bank of India) #Portfolio #Fintech #Digital #Lending #Banking #Infrastructure Dubai Financial Services Authority (DFSA) DIFC DIFC Innovation Hub Hub71 Abu Dhabi Global Market (ADGM) Abu Dhabi Investment Office Abu Dhabi Chamber of Commerce and Industry Saudi Venture Capital and Private Equity Association Middle East Venture Partners (MEVP)

🚀 The Money Club Raises $2.5 Million in Series A Funding to Revolutionize Financial Inclusion 💰 Noida-based fintech platform The Money Club has successfully raised $2.5 million in a Series A funding round led by Prudent Investment Managers, with participation from high-net-worth individuals (HNIs) in Singapore and Dubai, along with 1Crowd AIF and existing investors such as Venture Catalysts, LetsVenture, Z21 Ventures, and Supermorepheus. Founded in 2018 by Manuraj Jain, an IITian and INSEAD alumnus, The Money Club is addressing the financial challenges of India’s 400 million lower middle-class population, a group that often lacks access to formal credit systems. The startup provides on-demand liquidity solutions through a digital platform that enables new-to-credit users to access liquidity without the need for physical paperwork. The platform leverages India's Unified Payments Interface (UPI) to digitally rotate users' savings, providing timely financial support during emergencies. This model is especially beneficial for those who are excluded from traditional credit systems and often rely on local moneylenders. By using behavioral data collected through transactions, The Money Club builds dynamic credit profiles, analyzing over 30 attributes per transaction—20 times more than traditional credit models. To date, The Money Club has helped over 7 lakh users manage their finances better, facilitating Rs 350 crore in savings rotation through 4.3 million digital transactions. With an impressive 98% user retention rate, the company has built a robust and loyal customer base. The newly raised capital will be used to enhance the platform's technological capabilities, refine its financial inclusion solutions, and expand its reach. Prashasta Seth, CEO of Prudent Investment Managers, expressed confidence in The Money Club’s future, saying, "We’ve seen The Money Club’s growth and believe in its potential to create a profitable business that addresses a critical societal issue. Manuraj’s leadership has been key in driving this success." As The Money Club continues to innovate and scale, it is well-positioned to make a lasting impact on financial inclusion across India. https://lnkd.in/fzpnPPW #fintech #financialinclusion #startupgrowth #seriesafunding #innovation #financialservices #digitaltransformation #techforgood #upi #liquiditysolutions #creditaccess #behavioraldata #financialempowerment #techinnovation

📈 PB Fintech Executives to Sell Stake in the Company. PB Fintech's top executives, Yashish Dahiya and Alok Bansal, are planning to offload up to 83.7 Lakh shares in the company via block or bulk deals. Here's a breakdown: 📊 Stake Sale Details: - Yashish Dahiya, CEO and Chairman of PB Fintech, intends to sell up to 54 Lakh equity shares. - Alok Bansal, Vice Chairman and Whole-time Director, plans to sell up to 29.7 Lakh shares. - The offer size for the stake sale is estimated to be around INR 1,053 Cr at a floor price of INR 1,258 per share. - The proceeds from the sale will be primarily used to cover taxes on current and future ESOP exercises. 💼 Impact on Ownership: - Post-sale, Dahiya will retain a 4.83% stake, while Bansal will hold a 1.63% stake in PB Fintech on a fully diluted basis. - No further sale of shares is planned for at least the next year. 💰 Financial Performance and Market Impact: - PB Fintech's shares have surged nearly 70% year-to-date, leading to an increase in market capitalization, which crossed $7 Bn. - The company's profit jumped almost 62% quarter-on-quarter to INR 60.2 Cr in Q4 FY24, reflecting sharp growth across its business segments. - The shares closed at INR 1,340.6, reaching a level last seen in mid-November 2021, shortly after the company's listing on the bourses. - PB Fintech has been added to the MSCI India Index in the May review, further indicating its market significance. 📈 Industry Trends: - This development mirrors a broader trend in the startup ecosystem, as seen with RateGain, where founder Bhanu Chopra's family members recently offloaded 3% stake in the travel tech startup. The stake sale by PB Fintech executives reflects strategic financial planning amid the company's rapid growth trajectory and increasing market valuation. #PBFintech #StakeSale #FinancialPerformance #StartUpNews #BusinessNews #MicroShots #NewsUpdates

Building fintech? & Raising capital? Pitch at Global Fintech Festival 2024 on 28th Aug at Mumbai. While writing this post, 34 days left for GFF & D-Day. This year, we are expecting GFF will be multifold times bigger than any other fintech event in Asia & hosting investment pitching competition - where top 10 early stage fintechs will be pitching to all our VC partners (please DM to learn more) and beyond. Expecting 200+ investors and BFSI professionals during pitch. You can participate by filling at the link, shared below. Please read below criteria before applying: 1. Startup should be registered in India, 2. Ideal stage is Bootstrapped, pre-seed, seed, and Pre A (total raise should be less than $2 Mn), & 3. Last date to apply is Aug 15th, 2024 (and no further application will be entertained after that). & why you should participate (for selected fintechs) ? 1. Will get access of knowledge pool and unbiased feedback, 2. Community access (we run one of the largest fintech/ BFSI community in India i.e. 3000+ CXOs and Founders are part of it) 3. Visibility of logos on GFF website and at investor zone to the finalists. & 4. Post pitch support, Apply here: https://lnkd.in/gxqsYwYX To motivate others who are thinking to start but not yet started, “Tu Beer ha, aur bottle se nikalana bohot zaruri ha, fir tu kahi bhi ja (beh) sakta ha” (from TVF Pitcher) So whenever you come out from bottle, please DM to have conversation. Hero Choudhary WonJun Yun Adhar Seth Satoru Ogawa Mahesh Kumar Aswani Chaitanya N Rajkamal Agarwal Abhay Agarwal Alankar Tripathi Amit Ratanpal Davesh Manocha Harsh Gupta Kanika Agarrwal Mehekka Oberoi Pratekk Agarwaal Subit Saurav Supriya Singh Vikram Pandya Yuta Yamamoto #fintech #gff #fintechyatra

🚀 Pine Labs, the fintech powerhouse backed by Peak XV Partners and Mastercard Inc., is making headlines! 🌟 The company is eyeing a massive initial public offering (IPO) in India, and the buzz is real. 💼 📈 Having recently received approval from a Singapore court to relocate its base to India, Pine Labs is all set to merge its Singapore and Indian entities. The IPO could be a game-changer, with the company aiming for a valuation of over $6 billion. 🎯 Whether it’s issuing business powered by Qwikcilver by Pine Labs, its omni channel platform across India, West Asia, and Southeast Asia, or the smart payments and savings platform @Fave, Pine Labs is poised for success. #PineLabs #IPO #InvestmentNews #Fintech #Business #Growth #Corporate #Success #Market #Development #Entrepreneurship #TechInnovation #India #BelieveIndia To read more in detail, click below:👇 https://lnkd.in/dm_v29xR

Raised in the United States, Ravi Kumar, the CEO and creator of Upstox, one of India's fastest-growing #investment platforms, developed an early interest in the stock market. CEO of Upstox Ravi Kumar began stock trading at the age of sixteen. After graduating from the University of California-Irvine with a degree in computer science, Ravi Kumar began working at TD Ameritrade's flagship Thinkorswim trading platform. Even though the job was paying well, he made the decision to set out on his own. He and his brother Raghu soon established an automated #proprietary trading desk in Chicago. The company prospered, but in 2008 the US entered a recession, and the subsequent market meltdown compelled Ravi Kumar to refocus his efforts in India. Along with Shrini Viswanath and Kavitha Subramanian, Ravi Kumar co-founded Upstox (formerly known as RKSV securities) in 2009. The purpose of Upstox was to give Indian retail traders and #investors access to a platform for investing opportunities. Upstox is India's second-biggest stock brokerage company. The fact that billionaire investor Ratan Tata has invested in #Upstox is a good indicator of the company's success. There is a significant difference between the average Indian client now and previous generations when it comes to trading and investing, convenience of use, and general #financialmanagement. Thus, we see this as a chance to assist individuals in making smarter investments with their capital," Ravi Kumar previously stated in a statement. Upstox has partnered with the 2023 Indian Premier League in an effort to position itself as a #business with a diverse clientele. With a USD 3.4 billion net worth, Upstox is currently more valuable than Groww and Zerodha combined. Indians continue to move up the socioeconomic ladder, thus it's clear that good #money management techniques are becoming commonplace in Indian culture. As a result, it appears that India will lead the fintech revolution and become its center. This would be made possible by an atmosphere that is supportive of investments and #financial education as well as India's aspirational demographics. www.tycoonstory.com #RaviKumar #Upstox #FinancialInnovation #StockMarketIndia #Investing #Finance #Startup #Success #Trading #FinanceLeadership #Indian #Entrepreneurs #Fintech #WealthManagement #Market #InvestmentGoals Upstox Akshay Lotekar Sathvik Pakki Pratha Bhardawaj

Being at the #RBIH-#FINTECH DAY 2024 EVENT in Bengaluru was a pleasure. ✴ The event brought together a large number of fintech entrepreneurs, investors, bankers, and enablers to accelerate the growth of India’s FinTech ecosystem. ✴ It was a pleasure interacting with Ms. Debjani Ghosh, President, #NASSCOM, Mr Rajesh Bansal, CEO, Reserve Bank Innovation Hub (RBIH), and FinTech entrepreneurs. ✴ The Indian FinTech industry's market size is estimated at ~$1.5 Trillion by 2025 and will be an important contributor to India’s USD 5 Trillion economy. ✴ An accelerated growth in the FinTech sector could lead to achieving #ViksitBharat status, before 2047. ✴Interesting thoughts and ideas, on the tremendous scope of FinTech growth amongst others in the health sector exist in the Indian context. The focus on BioFintech appears to be eminent. ✴There is a necessity for the focus in Higher Education Institutions for integrating into their teaching, innovating & problem-solving activities & courses. Coincidentally we at #JAGSoM have focused on 'Request for Problem' (RFP) activities with the corporates for all its PGDM students, besides a track for the students in Innovation & Incubation. ✴ In India, we must leverage the enormous talent of our people and do substantial spending of our GDP on R&D. This will help the Indian talent to contribute to the economic development of our nation, instead of moving out of the country for the lucrative R&D jobs elsewhere. ✴ The customer focus is important to understanding their needs and delivering the same with reliability and efficiency for the long-term success and sustainability of the FinTech players. ✴ Especially for FinTech players, understanding the regulatory requirements and ensuring compliance in letter & spirit is inevitable for their business sustainability. ✴ During the event, in the “The Design Workshop” the students participated including the ones from our #JAGSoM. ✴ The valuable insights of individual experiences & journey starting from scratch to the present level of outstanding achievements were shared by Mr. Kunal Shah (Founder, #CRED), Mr. Shashank Kumar (Co-Founder & MD of #Razorpay), Mr. Lalit Keshre (CEO, #Groww), Mr. Varun Dua (Founder & CEO, #Acko Insurance), Mr. Ishaan Mittal (MD, #PeakXV), Ms. Upasana Taku (Co-founder, #Mobikwik), Mr. Rahul Chari (Co-founder & CTO, #PhonePe), and  Mr. Reeju Datta (Co-founder of #CashfreePayments). ✴My compliments to the CEO-RBIH, Mr. Rajesh Bansal, and Mr. Aakarsh Naidu (Head, Fintech & Startups, RBIH) for the well-organized RBIH-FINTECH DAY 2024 EVENT.   #Fintech,#Finsight,#ViksitBharat2047, #Entrepreneurs, #Investors, #Incubators,#Bankers,Reserve Bank Innovation Hub (RBIH), JAGSoM - Jagdish Sheth School of Management

We are delighted to announce our partnership with the National Payments Corporation Of India (NPCI)’s fintech accelerator program- Propel In association with The Digital Fifth & Zaggle This initiative is designed for early-stage start-ups, from MVP to Pre-Series funding, offering a chance to join a transformative 2-day event in Chennai this September. Participants can expect deep insights into fintech trends, regulatory updates, and market opportunities. The program will feature specialized segments on payments, lending, regulatory landscapes, credit on UPI, tokenization, and the India Stack for Payments Hardware. Additionally, the event offers mentorship from successful entrepreneurs and experts, with interactive sessions and workshops covering payment systems, lending strategies, and regulatory navigation. Register now! https://lnkd.in/guyTiz-j Don't miss this unique opportunity to accelerate your growth and connect with industry leaders and investors. Ankit K. | Aswani Chaitanya N | Aditya Singh | Raashi Gupta #Fintech #StartupGrowth #NPCIPropel #DigitalInnovation #Entrepreneurship #FintechAccelerator #IndustryInsights #Mentorship #ChennaiEvent #Innovation

#AbuDhabiFinanceWeek: Check out our highlights from the week below 👇   🚀 Across panels, it was great to engage with industry leaders to exchange notes and contribute to the collective vision for the region’s fintech future. Alex Manson, our CEO, spoke on a panel to discuss #AbuDhabi’s rise as a leading hub and how it's creating funding and commercial prospects that establish the foundation for #startups to scale. Mohamed Fairooz, who leads our ME presence, shared insights on where the #investing environment stands as well as what’s next for regional fintechs as they capitalise on emerging tech, regulatory advancements and a supportive ecosystem. (👉 https://lnkd.in/gQJxGbH7)   🚀 Our ventures announced exciting developments in the region: Zodia Markets received Financial Services Permission from ADGM, enabling them to operate as a regulated virtual asset brokerage in the #MiddleEast (👉 https://lnkd.in/gJcB_T4u), Emirates NBD became the 5th major institution to invest in Zodia Custody (👉 https://lnkd.in/gWeiiTiv), and audax, our digital banking technology solutions provider, partnered with Tuum to accelerate digital transformation for financial institutions (👉 https://lnkd.in/g9r34NqS). Our ventures myZoi | Financial Inclusion Technologies and Zodia Custody also exhibited at Venture Park showcasing their institutional-grade solutions, getting validation and feedback from the ecosystem.   🚀 We announced 2 MoUs with key partners, LuLu Financial Holdings (👉 https://lnkd.in/gw_8iUP9) and 7X (👉 https://lnkd.in/gMRfX6H7) to co-create transformative startups and enable growth for SMEs in the #UAE and wider #MENA region.   A huge thank you to ADFW for organizing a top-class event and to Hub71 for the partnership! Let's stay connected on our global community platform: https://lnkd.in/gTzazRyr Rola Abu Manneh Gautam Jain Ahmad Alwan Adeeb Ahamed Abdulla M. Alashram Nasiba AlShukairy Mark Dymock Farooq Siddiqi Asmik Akopyan Robbie Nakarmi Nick Philpott Ayad Butt Peter Abou Hachem Lily Liu Marcel Kasumovich Iftekhar Salim Tarek Osman Antofelix Sundarraj Mike Breen Ian Fernandes Yustus Aribariho MBA Aaron Gwak Syed Ali Christian Buchholz Benito Mable Vault22 Appro.ae #ADFW2024 #RewiringtheDNAinbanking