FINTECH VALUATION
Groww gets into corporate bond distribution, set to apply for Sebi licence
Bengaluru-based Groww plans to apply for an Online Bond Platform Provider licence to enable corporate bond trading via its app, expanding beyond stockbroking. As it prepares for a public listing, Groww is diversifying into credit, wealth management, and bond distribution, positioning itself to compete with platforms like Wint Wealth and Grip Invest.
As fintech lenders chase secured credit options, VCs up their bets
As unsecured lending slows, investor interest is shifting to secured lending platforms, attracting significant venture capital. Startups are expanding into secured loans like LAP and vehicle financing, but face challenges like high operational costs and default risks. Fintechs aim to offset this with technology-driven efficiency and selective physical branch expansion.
BlueStone’s pre-IPO glow up; PE funds go tech shopping
Ahead of its listing, BlueStone is poised to become India’s next unicorn through a secondary deal. This and more in today’s ETtech Morning Dispatch.
These 7 banking stocks can give more than 21% returns in 1 year, according to analysts
There is bad news and there is cyclical bad news. The difference? One is triggered by some adverse development. The other comes at regular intervals. Now, in the banking sector, you will hear news of how bank margins are under pressure. This should not cause you any tension, as it is cyclical bad news which comes whenever the interest rate cycle turns down. So should you sell bank stocks? No. Given the structural improvement in the sector, consider these cyclical downturns are opportunities.
ET Women's Forum: Valuation doesn't know gender
At The Economic Times Women's Forum, women founders highlighted that performance and vision, not gender, drive startup success. Sakshi Chopra of Peak XV emphasized that investors prioritize metrics and clarity. Founders like Ahana Gautam (Open Secret) and Anju Srivastava (Wingreens Farms) stressed consumer understanding and building trust.
InCred Money set to acquire discount broker Stocko, marking entry into retail broking
InCred Money is poised to acquire Stocko for approximately Rs 300 crore, marking its entry into the retail broking sector. This acquisition will integrate Stocko into InCred Money, expanding its offerings to include equities and derivatives trading. The Stocko team will continue to operate the platform, leveraging InCred's resources for faster scaling and innovation.
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Y Combinator’s spring 2025 batch features 70 startups focused on agentic AI
Y Combinator’s Spring 2025 batch featured 70 agentic AI startups, each receiving $500,000. Leadership changes include Dalton Caldwell and Michael Seibel stepping back, while Jon Xu and Andrew Miklas became general partners.
Top tech and startup stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
ETtech Deals Digest: Indian startups raise $160 million this week, up 75% on-year
Despite the higher value, the number of deals during the week was down at 16 transactions, compared to 34 in the corresponding week last year.
Lenskart gets pre-IPO bump; Amazon’s q-comm entry
Asset manager Fidelity has marked up Lenskart’s valuation to $6.1 billion as the eyewear retailer gears up an IPO. This and more in today’s ETtech Top 5.
Bengaluru climbs to 14th place in Global Startup Ecosystem Report 2025
Priyank Kharge, Karnataka's Minister of IT & BT and Science & Technology, said in a statement issued by his office on Friday, that the 2025 edition of the report highlights a significant power shift in global innovation, with rising Asian and mid-sized hubs making strong gains.
Groww triples FY25 profit to Rs 1,819 crore; closes fresh funding at $7 billion valuation
Bengaluru-based fintech closes $200 million funding round led by Singapore’s GIC ahead of IPO. The fundraise also saw participation from existing investors like Iconiq Capital.
9 stocks from different segments of financial services sector with an upside potential of up to 37%
We call all of them financial services companies. But they are hardly homogenous, and it would be unwise to view them through the same lens. Each segment in the sector is practically an industry in itself, and has different operating matrices. There is, however, one thing common to these companies: All of them have been through a process where the RBI or some other regulator has had a close look at them. Is that process over? Has the time come to have them on your watchlist and look at them without bias and fear?
Groww FY25 profit triples; Qcomm growth beyond metros
Happy Friday! IPO-bound fintech major Groww has reported a three-fold jump in its net profit for FY25. This and more in today’s ETtech Morning Dispatch.
Chime IPO raises $864 million in long-awaited Nasdaq debut, cuts valuation nearly in half—here’s what it means for fintech’s big revival
Chime IPO has officially hit the stock market, raising $864 million by pricing shares at $27, slightly above expectations. Now trading under the ticker CHYM on Nasdaq, Chime's listing values the fintech at $11.6 billion, down from its $25 billion peak in 2021. Still, investor demand was strong, with shares expected to open at $42, reflecting a 56% jump. As a leading neobank with 8.6 million users, Chime’s success could signal a rebound in the fintech IPO market. With steady growth, early profit signs, and top backers, Chime’s debut is one of 2025’s most watched tech IPOs.
Digital payment firms face RBI scrutiny; Pine Labs, Meesho eye listings
Happy Thursday! After approving about 54 companies to become payment aggregators, the central bank is tightening its reins in the sector. This and more in today’s ETtech Morning Dispatch.
Pine Labs set to file for up to Rs 6,000-crore IPO by month-end
Pine Labs is preparing to file its DRHP with SEBI by the end of June, aiming for an IPO later this year to raise Rs 5,000-6,000 crore. The IPO could value the company at $4-5 billion. The company has appointed Axis Capital, JP Morgan, Morgan Stanley, Citi and Jefferies as bankers to the issue.
Pine Labs, Meesho eye D-Street address; Rapido’s food delivery outlook
Pine Labs is set to file its draft prospectus for its IPO by June-end, while Meesho may follow suit in the coming weeks. This and more in today’s ETtech Top 5.
Flexiloans raises another Rs 375 crore from Fundamentum, Accion and others
Flexiloans, an NBFC focusing on small businesses, secured Rs 375 crore in funding, led by existing investors like Fundamentum and Accion. This capital infusion, a mix of primary and secondary, will fuel its expansion into secured lending and insurance distribution. Flexiloans achieved profitability for three consecutive years, with Rs 263 crore revenue and Rs 3 crore profit in FY24.
These 7 banking stocks can give more than 20% returns in 1 year, according to analysts
In the last few weeks, bank stocks have outperformed a volatile market. So, it is clear that, unlike in the past when bank stocks led the correction in the market, this time institutional investors are clearly in no hurry to reduce their banking exposure. This has to be seen in light of the fact that, for a well-known reason, the margins of banks are going to come under pressure in coming quarters.
Cred raises fresh funds from GIC, others; valuation cut by 45% to $3.5 billion
The fintech major was valued at $6.4 billion in 2022 during its last major fund infusion. The current fund infusion is in the form of primary capital, which means that existing investors have not sold any shares in this round. The drop in valuation was in line with the company's plans to list in India over the next two years, people in the know said.
Cred’s down round; Blinkit’s food safety woes
Happy Tuesday! Cred has raised fresh funding at a steep cut in valuation. This and more in today’s ETtech Morning Dispatch.
ID startups face data heat; Nykaa eases into qcomm
Happy Monday! Startups offering identity verification services are under the government’s scanner. This and more in today’s ETtech Morning Dispatch.
Listed new-age cos’ road to profitability; QED’s Nigel Morris interview
After a torrid time on Dalal Street, new-age firms have taken a turn towards profitability in the March quarter. This and more in today’s ETtech Morning Dispatch.
Top tech and startup stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
Circle CRCL IPO sparks crypto’s game-changing future: USDC stablecoin giant rockets past expectations with $1.1B raise at $31/share in NYSE debut — investors fixate on soaring $8.1B valuation
Circle IPO has made headlines with a stunning debut on the New York Stock Exchange, trading under the ticker CRCL. The USDC stablecoin issuer priced its IPO at $31 per share, raising $1.05 billion, and valuing the company at $6.8 billion. Backed by strong investor demand and a growing crypto-friendly U.S. regulatory stance, Circle’s IPO opens new doors for crypto infrastructure companies on Wall Street. As the second-largest stablecoin player, Circle’s success signals mainstream acceptance of digital finance. Here’s everything you need to know about this massive listing and what it could mean for the future of crypto.
Hemang Jani sees 15-25% upside for Swiggy, 18-22% for Eternal on strong cash position
Hemang Jani discusses the rising valuations of exchanges like NSE, highlighting its dominant position in options and potential growth post-IPO clearance, despite recent regulatory impacts. He favors NSE and MCX over BSE, citing stretched valuations for BSE.
Irish fintech Nomupay gets $40 mln investment from SoftBank
Nomupay has since raised $120 million, with the last round of $37 million in January valuing it at $200 million. "We will integrate the Japanese payment methods that are provided by SoftBank, which means the rest of the world can now access Japan, and then we will jointly expand into other markets," Nomupay CEO Peter Burridge told Reuters.
Udaan’s flat raise; Nykaa’s market woes
B2B ecommerce unicorn Udaan raised fresh funds in a round led by existing investors. This and more in today’s ETtech Top 5.
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