Author Archives: Loknath

Booming Startups in India in the Education Space

The evolution of the Ed tech Industry is of great significance in a country like India, where the IT industry has shown tremendous growth with the GDP in recent years. This sector is attracting a lot of innovative entrepreneurs and huge investments from funding agencies. There are around 2 million primary and secondary schools, 37,000+ colleges and 750+ universities in ... Read More »

Veritas Finance raises Rs 350 crore from Kedaara Cap, others

Veritas Finance has created a loan book of Rs 1,308 crore as February 29, 2020, with a customer base of 48,638 across eight states and one union territory Veritas Finance, the Chennai-based non-banking financial company (NBFC) focused on lending to micro, small, medium enterprise (MSME), on Thursday announced that it has raised Rs 350 crore through a Series E investment ... Read More »

Approaching Trade Finance From The Payables Side

Trade finance is a critical tool in supporting global trade for both buyers and sellers, particularly smaller businesses. Yet these financing products aren’t without their risks and drawbacks, and today, criticism continues to mount for certain invoice financing tactics in particular. High-profile corporate collapses and questionable invoice discounting programs run by major conglomerates has led financial officials in the U.K., U.S., Australia and beyond to take ... Read More »

State Board of Education suspends school attendance rules if closed

TOPEKA, Kan. (WIBW) — The Kansas State Board of Education announced they are giving executive privileges to the State Education Commissioners to grant schools special exceptions if impacted by the coronavirus. “This is only if a school is required to close by the public health departments or KDHE,” said Susan McMahan, Director of the Safe and Secure Schools Unit with the ... Read More »

Airbnb Is Giving Away $1 Million To Help Finance Your Dream Home

In an announcement made by Airbnb Tuesday, the home sharing company has unveiled a new contest to help ten lucky winners finance and build the home of their dreams. Called the Unique Airbnb Fund, Airbnb will be gifting a total of $1 million dollars to find and finance the most “unconventional, creative and unique livable spaces on the planet.” The fund—which is meant to empower anyone ... Read More »

Millennial-Focused Digital Bank Empower Finance Raises $20M

San Francisco-based Empower Finance, a mobile banking app aimed at helping millennials save wealth, has raised $20 million in a Series A funding round led by Defy Ventures and Icon Ventures, according to a report. The Founder and CEO of Nubank David Velez also participated in the funding round. The company, which was founded in 2017, is run by a former Sequoia Capital ... Read More »

Leap Finance raises $5.5M to democratize financing for foreign-bound Indian students

Tens of thousands of Indians move to the United States to pursue higher education each year. But like many others who have arrived from a foreign land, they can’t secure education loans or personal loans from the banks at interest rates on par with those levied on local students. The reason why these students — or anyone else moving to ... Read More »

Education-focused lender Leap Finance raises $5.5 million led by Sequoia

MUMBAI : Leap Finance, a fintech startup for Indian students pursuing international higher education, on Tuesday, said it has raised $5.5 million led by venture capital firm, Sequoia Capital India Advisors. The round also saw participation from angel investors, including Bhupinder Singh, founder of consumer lending firm InCred and Kunal Shah, founder of credit card payment startup Cred. Founded in 2019 ... Read More »

Do high returns and cover make small finance bank FDs worth it?

Many small finance banks offer 8-9% on fixed deposits of one to three years compared with an average of 6-6.5% that large public and private sector banks give. The returns for seniors (typically, 50 basis points higher) in small finance bank FDs are even better than what the Senior Citizen Savings Scheme offers (8.6%). In Budget 2020, the finance minister increased the ... Read More »

Suryoday Small Finance Bank finalises merchant bankers, targets Diwali D-Street debut

Mumbai-headquartered Suryoday Small Finance Bank backed by the likes of International Finance Corporation (IFC) and HDFC has kicked off the process to raise around Rs 1,000 crore through an initial public offer (IPO) and has shortlisted four merchant bankers, sources with knowledge of the matter told Moneycontrol. IFC is the World Bank’s private-sector investment arm. “Axis Capital, ICICI Securities, SBI Capital ... Read More »