Vantage Point by EMVC - Sep 06 2024
Updates to keep up with the latest in fintech from our vantage point.
Welcome back,
Multiple fintech companies announced new partnerships and product launches at the Global Fintech Fest last week. This week, Mintifi is in talks to raise $100mm in funding. Drip Capital raised $113mm in a mix of debt and equity. There is also an interesting weekend read from BCG.
From the team at Emphasis Ventures.
If you’re a fintech startup or thinking about starting up, we’d like to meet you. At Emphasis Ventures, we’ve worked with founders of Slice, M2P, Khatabook, Bureau and many others from their early days.
In one of the largest global fintech conferences, 80,000+ fintech leaders, founders, policymakers and senior bank executives from across the world gathered at the Global Fintech Fest (GFF) in India last week. At the event, Emphasis Ventures' CEO and Founding Partner Melissa Frakman was named Global Fintech Person of the Year and portfolio company Jar was recognized as the Best WealthTech Startup of 2024.
Among notable product partnerships and launches at GFF: National Payments Corporation of India (NPCI) launched B2B payments and collections on Bharat BillPay services, Google Pay launched tap & pay with RuPay card, Visa partnered with Paytm for NFC card based payment sound box and Mastercard partnered with Razorpay for biometric based card authentication;
Supply chain financing platform Mintifi is in talks to raise $100mm from OTPP, Bain Capital and others. The company reportedly has a loan book of $1Bn across 150 corporate partners.
SMB lending platform Drip Capital raised $113mm in a mix of debt and equity led by GMO, SMBC, IFC and others. The company provides credit to ~10,000 small businesses across India, US, Mexico and is piloting a buyer-seller marketplace for its users.
Weekend read: State of the Fintech Union 2024 by BCG. "... Indian fintech ecosystem, cumulatively valued at $100Bn+, is in the middle journey with potential to create 2-3X value in the next decade...Profitability is now a central focus across fintech sectors, mature fintechs preparing for or in the IPO journey are emphasizing governance, investment in infrastructure, security... Regulatory system is conducive for innovation; sentiment is strong, supportive and clarity has evolved; simplification of processes can further unlock value..."
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