Vantage Point by EMVC - Jun 13 2025
Updates to keep up with the latest in fintech from our vantage point.
Welcome back,
This week, Groww raised $200M led by GIC and ICONIQ Capital. Reliance is in talks to invest in OpenAI. FlexiLoans raised $44M in funding. Snapmint is in talks for a $40M round. There is also an interesting weekend read from BCG.
From the team at EMVC.
If you’re a fintech startup or thinking about starting up, we’d like to meet you. At EMVC, we’ve worked with founders of Slice, M2P, Khatabook, Bureau and many others from their early days.
Weekend read: BCG's Future of Finance Report. "...Significant value is migrating to a range of players, including fintechs, digital attacker banks, private credit funds, and nonbank liquidity providers (such as market makers). Meanwhile, maturing digital assets appear to be on pace to cause significant disruption, with most banks currently on the outside looking in..."
Digital investment platform Groww raised $200M led by GIC and ICONIQ Capital valuing it at $7Bn. This comes ahead of the company's planned IPO this year for which it has confidentially filed its Draft Red Herring Prospectus (DRHP) last month.
India’s Reliance Industries is in talks to participate in OpenAI’s $40Bn investment round. Notably, India leads global ChatGPT usage at 13.5% and ranks among the top 10 countries for developers building on OpenAI’s APIs.
SMB lender FlexiLoans raised $44M from Fundamentum, Nuveen, Accion and others. The company has disbursed $1.2Bn in credit since inception and has $265M in assets under management.
BNPL platform Snapmint is reportedly in talks with General Atlantic to lead its $40M round. The company claims to have 5M monthly active users with integrations to offer credit across 900 brand partners.
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