Vantage Point by EMVC - Jun 6 2025
Updates to keep up with the latest in fintech from our vantage point.
Welcome back,
This week, Flipkart received regulatory approval for its lending license while Wise got an in-principle approval for operating as a PA-CB. Stable Money raised $20M led by Fundamentum. Zaggle is acquiring Dice for $14M. There is also an interesting weekend read from BofA.
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: Private Equity exits from India reflect maturity, not weakness - BofA."...The funds being raised by private equity are getting bigger, and the allocation toward India has increased, from maybe 15–20% five years ago to 30–35% in the newer, larger funds... Everyone believes that the next decade or more is when India is going to significantly outperform global markets..."
Walmart-owned Flipkart received regulatory approval to offer credit as a non-bank lender. This will make it India's first large ecommerce company with the license, enabling it to directly offer credit likely through its new payments app super.money.
Wise received in-principle regulatory approval for operating as a cross-border payment aggregator in India. Reportedly, Wise facilitates ~10% of all inbound international remittances to India.
Fixed income investment platform Stable Money raised $20M led by Fundamentum Partnership. The platform claims to have $350M in assets under management.
Zaggle is acquiring spend management platform Dice for $14M. The acquisition will further enhance Zaggle's spend management capabilities enabling businesses on the platform to track travel expenses, manage accounts payable, and handle procurement processes.
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