Fintech

Square, the financial services platform, is embracing generative AI in a very visible way. After announcing earlier this year that it would bring AI features to drive retail sales, Square this morning took the wraps off of new 10 — count ’em, 10 — generative AI capabilities focuse

Peak XV Partners has invested $35 million in Neo, a fintech startup founded by industry veterans that is increasingly challenging incumbents including IIFL, Edelweiss and Waterfield Advisors, as the largest India-focused VC broadens its bets on wealth and asset management. Neo operates a suite of

The IRS will test a free tax filing service in 2024 for a subset of lucky taxpayers in as many as 13 states, the agency announced today. Direct File, as the service is called, is a shot across the bows of TurboTax, H&R Block and other paid tax prep services, whose owners have resisted free and

LeapFrog Investments, a private equity firm that is keen on the financial and healthcare sectors, plans to raise $1 billion for a new fund targeting businesses in “global growth markets,” including Africa. The Emerging Consumer Fund IV is set to hold a final close in February next year having a

Jio Financial Services, the Indian conglomerate Reliance Industries-backed financial services firm, has started its lending and insurance businesses and plans to rapidly broaden its offerings as billionaire Mukesh Ambani expands the ever-so-wide tentacles of his oil-to-telecom empire. The market ha

Partnerships between organizations end all the time. Sometimes it’s amicable, and sometimes it’s complicated. In the instance of Synapse and Evolve, it was complicated. Synapse operates a platform enabling banks and fintech companies to easily develop financial services. It was providin

CRED is in talks to acquire Kuvera, a startup that operates an online wealth management platform, a source familiar with the matter told technewss, in what is a sign of the Indian fintech giant’s growing interest in the lucrative category of stock investments and mutual funds. The acquisitio

India’s UPI is “fantastic at many levels” but remains an “incredibly painful experience” for ecosystem participants, Mastercard’s CFO said at a recent conference, underscoring tensions around the mobile payments rail that facilitates over 10 billion transactions

Adyen lost $13 billion in market cap last month when investors scrambled to sell shares after the payments company missed quarterly revenue targets. But it’s not the only one facing the music in fintech. Shares in SumUp, a privately-held European payment technology business that focuses on po

French startup Orus has raised an $11.6 million Series A funding round (€11 million). The startup offers insurance products specifically designed for small and medium companies. Interestingly, today's news comes just a few months after Amsterdam-based insurtech startup Insify completed its Se

Several Indian startups, along with venture capital funds and private equity investors, are scrambling to build investment strategies as they race to tap into a rare available opportunity in the nation: banks. Premji Invest, Multiples, Zerodha, Gaja Capital and MobiKwik are among those who are eval

Welcome back to The Interchange, where we take a look at the hottest fintech news of the previous week. If you want to receive The Interchange directly in your inbox every Sunday, head here to sign up! After a bit of a quiet period, things in the world of fintech picked up in a big way this past

Banking-as-a-service startup Synapse confirmed today that it has laid off 86 people, or about 40% of the company. The San Francisco-based company, which operates a platform enabling banks and fintech companies to easily develop financial services, has been open about past layoffs. In June, CEO Sank

A number of venture investors and startups are engaging with Bank of Baroda to acquire a stake in the lender’s subsidiary Nainital, according to people familiar with the matter. Premji Invest, stock broking giant Zerodha and Peak XV-backed fintech startup MobiKwik are among the prospective ba