Startups - NewNerve

23Apr

By AnkitNo Comments

Global BFSI, Fintech, Payments, Startups

Thunes Announces Acquisition of Tilia LLC to Boost U.S. Growth and Online Gaming Market Presence

Thunes Announces Agreement to Acquire Tilia LLC Thunes, the global cross-border payments company, has taken a significant step to enhance its foothold in the United States and tap into the burgeoning online gaming market. The company recently finalized a definitive agreement to acquire Tilia LLC, an all-in-one payments platform. Tilia LLC, licensed in 48 U.S. states and territories, specializes in providing payment solutions for various digital realms, including online games, virtual worlds, creator economies, and in-app purchases. With this strategic acquisition, Thunes aims to accelerate its growth trajectory and expand its services within the U.S. Key Highlights of the Acquisition: Enhanced Payment Solutions: Thunes’ global network, which facilitates real-t...

Crime GPT: How AI is Helping Police Forces in India, 2024

21Apr

By Ankit1 Comment

AI, IndiaAI, Startups

Crime GPT: How AI is Helping Police Forces in India, 2024

Crime GPT, an AI-powered platform developed by Gurugram-based tech startup Staqu, is revolutionizing the way police forces in India approach criminal investigations. In a city bustling with activity, a pickpocket expertly relieves an unsuspecting victim of their wallet, disappearing into the crowd. By the time the victim realizes what has happened, the trail has gone cold. This all-too-common scenario is exactly the kind of challenge that a cutting-edge AI platform called Crime GPT aims to tackle. AI-Powered Crime GPT Revolutionizes Law Enforcement This innovative tool utilizes a powerful language model trained on a massive database of over 9,00,000 criminal records from Uttar Pradesh. By integrating Retrieval-Augmented Generation (RAG) techniques, Crime GPT can provide accurate and f...

iCapital Marketplace Launches in Singapore and Hong Kong: News Update

19Apr

By Ankit1 Comment

Global BFSI, Business, Startups, Wealthtech

iCapital Marketplace Launches in Singapore and Hong Kong: News Update

iCapital, a global fintech firm, has recently introduced its groundbreaking iCapital Marketplace in Singapore and Hong Kong. This innovative platform aims to streamline access to a diverse range of alternative investments for wealth managers and advisors. By leveraging proprietary technology, iCapital Marketplace addresses common industry challenges and transforms the investment process by providing simplified subscription processes, educational resources, and a comprehensive suite of investment opportunities. Enhancing Wealth Management through Technology The iCapital Marketplace platform offers an array of features and benefits that revolutionize the wealth management landscape. Simplifying the Investment Process: With its user-friendly interface, iCapital Marketplace simplifies t...

Revolut Empowers 2 Million Young Users Worldwide with its Youth-Focused Financial App

19Apr

By Ankit1 Comment

Global BFSI, Fintech, Payments, Startups

Revolut Empowers 2 Million Young Users Worldwide with its Youth-Focused Financial App

Revolut, a global neobank, has recently achieved a significant milestone as its youth-focused financial app surpassed 2 million users worldwide. The app, designed for individuals aged 6-17, is part of Revolut's suite of products aimed at empowering the next generation with financial literacy. With its increasing user base and growing adoption, Revolut's app is playing a crucial role in developing good financial habits among young users from an early age. Empowering Financial Literacy Revolut's <18 app provides young users and their parents with essential tools to effectively manage their finances. The app offers features such as instant spending alerts and budgeting tools, enabling users to develop healthy financial habits from a young age. By promoting financial literacy and responsi...

Freo’s Financial Revolution: Freo’s Revenue z FY24, attains profitability

10Apr

By Ankit1 Comment

Banking, Digital Lending, Finance, Fintech, Payments, Startups

Freo’s Financial Revolution: Freo’s Revenue z FY24, attains profitability

Digital banking Platform Freo, operated by Mwyn Tech, has achieved remarkable growth and profitability. Freo reported gross revenue of Rs 350 crore in FY24. The company has been profitable for the last four months since December 2023. Let’s delve into the key highlights: Impressive Revenue Growth: Freo’s gross revenues have surged 5Xover the past five years, reaching the significant milestone of Rs 350 crore. The company’s contribution margins also soared, from 16% in Q4 FY23 to over 40% in Q4 FY24. Diversified revenue streams: Fee-based revenue now accounts for over 45% of total revenue, alongside the 55% from interest-bearing products. User Base Expansion: Freo’s user base grew from 15 million in FY22 to an impressive 25 million by the end of F...

RBI’s Regulatory Moves: Personal Loan Growth Slows Down

8Apr

By Ankit4 Comments

Digital Lending, Fintech, NBFC, Startups

RBI’s Regulatory Moves: Personal Loan Growth Slows Down

The FinTech sector isn’t the only one feeling the impact of regulatory actions. Banks are now treading carefully in the realm of personal loans, thanks to the Reserve Bank of India’s (RBI) recent moves. Let’s delve into the details and understand how this cautious approach is affecting borrowers and lenders alike. Moderated Growth in Personal Loans According to RBI data, the year-on-year growth of unsecured personal loans has taken a step back. In February, it moderated to 23.1%, down from 24.4% in January and 27.6% in December 2023. This shift reflects banks’ response to the RBI’s concerns about the rapid expansion of personal loans. But what prompted this change? Let’s explore: The RBI’s Action Plan In November of last year, the RBI decided to tighten t...

FinTech Funding Surge: March Records $591 Million in Investments”

8Apr

By Ankit2 Comments

Banking, Finance, Fintech, Payments, Startups

FinTech Funding Surge: March Records $591 Million in Investments”

The FinTech sector is buzzing with excitement as the month of March draws to a close. After a relatively quiet period, funding has surged, and investors are placing their bets on promising startups. Let’s dive into the numbers and explore the recent developments in the world of financial technology. A Remarkable Rise in Investments The last month of the new calendar year witnessed a significant rise in investments for the FinTech sector, compared to the previous few months. According to data collated by 1Lattice, FinTech funding experienced an uptick in March, recording an impressive $591 million from 16 funding rounds. This substantial increase comes after a comparatively modest $250.25 millionraised from 13 rounds in the previous month. Key Players and Noteworthy Rou...

Indian FinTech’s Funding Falls by Over 66% in FY24: Navigating the Downturn

6Apr

By Ankit2 Comments

Fintech, Digital Lending, Finance, Payments, Startups

Indian FinTech’s Funding Falls by Over 66% in FY24: Navigating the Downturn

In a significant development for the Indian FinTech sector, the financial year 2024 has witnessed a substantial decline in funding for FinTech startups. The Indian FinTech sector, a beacon of innovation and growth, has faced a significant funding slump in the financial year 2024. According to data from Tracxn, the industry witnessed a 66.67% year-on-year decline in funding, managing to raise only $1.5 billion1. This stark downturn compares to the $4.5 billion raised in the previous fiscal year, marking a challenging period for startups in the space. This decline is primarily attributed to a decrease in seed-stage funding. The trend reflects the challenges faced by the industry, including increasing borrowing costs and macroeconomic conditions. Let's delve deeper into the details. De...

Zomato-Backed Startup Magicpin: Co-Founder Brij Bhushan’s Exit and What It Means

5Apr

By Ankit2 Comments

Startups, Technology

Zomato-Backed Startup Magicpin: Co-Founder Brij Bhushan’s Exit and What It Means

In a significant development, Magicpin, the hyperlocal e-commerce startup backed by Zomato, bids farewell to one of its co-founders. Brij Bhushan, who co-founded Magicpin in 2015 alongside Anshoo Sharma, recently announced his decision to step away from the company. As a journalist, let’s delve into the details of this departure and its implications. The Rollercoaster Journey Bhushan’s LinkedIn post reveals a nine-year journey filled with highs and lows. He describes it as a “rollercoaster,” emphasizing growth, challenges, and profound learnings. Now, he believes it’s time to take a step back, leaving Magicpin in capable hands. Magicpin’s Resilience Amidst Adversity Covid-19 Resilience: When the pandemic threatened Magicpin’s existence, the team fought back. T...

5Apr

By AnkitNo Comments

AI, Startups, Technology

OpenStack 29: Accelerating Innovation in AI with Advanced Features

OpenStack, the leading open-source cloud infrastructure platform, has unveiled its latest release, version 29, aptly named 'Caracal.' This update brings significant improvements to support artificial intelligence (AI) and high-performance computing (HPC) workloads, further solidifying OpenStack's position as a comprehensive alternative to proprietary offerings like VMware. With enterprises increasingly focusing on deploying AI models while maintaining control over their data, OpenStack's latest features cater to the evolving needs of large-scale organizations. Empowering Enterprises in the AI Era: As the world stands at the brink of a multi-trillion dollar investment wave in data center infrastructure, OpenStack emerges as a vital software layer for managing private deployments. While la...