Vantage Point by EMVC - Sep 20 2024
Updates to keep up with the latest in fintech from our vantage point.
Welcome back,
This week, InMobi raised $100m in debt. Aye Finance is raising $30mm led by ABC Impact. Moglix invested $50mm in its supply chain financing arm. Veefin acquired EpikIndifi for $15mm. Stockal acquired Acru Finserv. There is also an interesting weekend read from PwC.
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.
InMobi raised $100mm in debt from Mars Growth Capital for AI acquisitions. This comes on the heels of its plans to IPO in India next year.
Capital G backed SMB lender Aye Finance is raising $30mm led by ABC Impact. Reportedly, this development comes ahead of the company's plans to file draft IPO papers with the regulators. The lender has an AUM of $550mm.
B2B commerce company Moglix invested $50mm in its supply chain financing business Credlix. The latter aims to expand to the US and Mexico post this funding with a focus on automotive, textiles, electronics and other industries.
Supply chain finance infrastructure company Veefin acquired EpikIndifi in a cash and equity transaction worth $15mm. The company plans to integrate EpikIndifi's underwriting module into its digital lending suite.
Cross border investment platform Stockal acquired Acru Finserv. Acru provides infrastructure enabling non-resident Indians (NRIs) to invest in Indian financial products. Stockal claims to have processed $2Bn in transactions since inception.
Weekend read - The Indian payments handbook by PwC. "...India’s significant contribution to the global decline in cash usage can be attributed to the rapid growth of digital payments, As per the Reserve Bank of India (RBI), with the country now accounting for nearly 46% of the world’s digital transactions, there has been a staggering 90-fold increase in retail digital payments over the past 12 years. Digital payments have been witnessing a remarkable compound annual growth rate (CAGR) of 40% in terms of transaction volume and 35% in transaction value..."
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