Financing Financial News

20.09 / 18:19

Lowe's Digital CEO Pool social exclusive financing NOT Let’s not conflate microfinance with self-help-group financing

RBI) to revise the regulatory framework (March 2022) for it and also caution it against an exclusive focus on business growth (November 2022). What remains in question, though, is whether RBI’s revised regulatory framework addresses the moral charge it seeks to impose on the industry. Thus, it wasn’t surprising for us to see the CEO of Sa-Dhan write an op-ed in April 2023 that spoke of some hurdles faced by microfinance institutions (MFI) in their search for growth.

16.09 / 10:47

Digital CEO Strategy financing Backed Peter Thiel's Valar Ventures backed revenue-based financing startup Velocity lays off about 14% of staff

Velocity has laid off around 14% of its workforce, the Bengaluru-based company's cofounder and chief executive Abhiroop Medhekar wrote in a blogpost on Friday. «Getting to profitability is an important priority for us and this restructuring is a crucial step in that direction. We’ve carefully restructured our organization to avoid redundancies,” he wrote.

14.09 / 10:29

Provident country financing Indian Maruti Suzuki partners with Indian Bank to provide financing solutions to dealers

Maruti Suzuki India Ltd on Thursday said it has partnered with Indian Bank to provide financing solutions to its dealers.

12.09 / 09:03

Digital Platform Pride financing Litigation funding firm LegalPay closes interim financing bond of Rs 12 crore

legal technology startup LegalPay has closed a Rs 12 crore interim financing bond. The investment instrument in the fixed income category was launched in January and reported a coupon rate of 14% compounding annually.

11.09 / 10:27

COST Provident Lowe's Aware Action financing recovery Debt Recovery Agents vs Litigation Financing: Evaluating Their Effectiveness in India

In the complex world of financial services, debt recovery is a crucial challenge for banks and institutions. Two main solutions have emerged: Debt Recovery Agents (DRAs) and Litigation Financing. While DRAs have been less effective due to aggressive tactics and legal concerns, a promising alternative called Litigation Financing or Third-Party Funding (TPF) has emerged. TPF involves third-party funders supporting litigation costs in exchange for a share of the proceeds in successful cases. The lacking regulation in DRA gives push to TPF as it allows claimants to access the justice and peruse for their own claims even with limited financial sources.

06.09 / 18:05

Twitter Google financing index Ideogram AI Secures $16.5 Million in Seed Financing Led by a16z and Index Ventures

On August 22, 2023, a new player entered the AI arena, Ideogram AI. Their primary mission revolves around harnessing the power of generative AI to amplify human creativity. The company aims to develop cutting-edge AI tools designed to make creative expression not only more accessible but also more enjoyable and efficient.

04.09 / 16:41

UPS Target Williams Continental Injustice country voice financing The first Africa Climate Summit opens as hard-hit continent of 1.3B demands more say and financing

The first African Climate Summit is opening with heads of state and others asserting a stronger voice on a global issue that affects the continent of 1.3 billion people the most, even though they contribute to it the least

01.09 / 05:55

UPS BLOCK Forrester country financing Soul Patts, Rich Listers tip into NexGen $240m financing

Canadian uranium developer NexGen Energy has secured $US155 million ($240 million) in financing from investment house Washington H. Soul Pattinson and recourse sector investor Queens Road Capital.

30.08 / 06:07

UPS Provident Digital Platform ICBC financing China’s JD, ICBC to Launch Digital Yuan Supply Chain Financing Solution

Chinese firms and commercial banks are working on new digital yuan supply chain financing solutions, with a new CBDC smart contract solution set to launch.

25.08 / 12:01

Investment trusts EGM financing Blackstone Loan Financing sets EGM date for outlining wind-down details

The firm’s board of directors proposed a managed wind-down of the £301m trust last month due to its persistent discount to net asset value.

24.08 / 09:45

Provident FIVE Digital Platform Gap Strategy country financing Alternate financing to capitalise on $500B SME credit opportunity in India: Redseer-GetVantage Report

SME Credit Report 2023 released today in collaboration between GetVantage and Redseer Strategy Consultants estimates that a potential US$ 220 Bn credit deficit poses a roadblock to unlocking the economic potential of millions of digitised businesses. Out of the current US$ 220 Bn requirement (as of FY22), Redseer analysts estimate US$ 165 Bn as serviceable when adjusted for sick and commercially unviable businesses. Even after an infusion of US$ 53 Bn in FY22 into the market through various channels, the current working capital deficit stands at US$ 112 Bn.

23.08 / 12:35

UPS Provident Digital Manufacturing Platform Enterprise country financing DBS and Infor Nexus Collaborate to Enhance SME Cashflows with Data-Based Trade Financing Solutions

The partnership between DBS Bank and Infor Nexus™ was, until now, primarily focused on availing early payments to the suppliers on a post-shipment basis. The latest trade financing solution completes the entire pre-shipment and post-shipment financing cycle, establishing a robust end-to-end digital working capital financing solution.

22.08 / 11:37

Provident cover financing Health financing startup Kenko signs partnership with Tata 1mg

the future of healthcare financing but also fostering a healthier and happier society, where essential healthcare products are readily available to everyone," Nikhil Behera, head - business operations, Kenko Health said. Kenko plans to leverage Tata 1mg’s vast supply chain that covers more than 20,000 postal codes.

07.08 / 07:43

UPS Citi Siemens Platform Align financing Mumbai Adani Energy Solutions secures $1 bn financing for HVDC Link project in Mumbai

New Delhi: Adani Energy Solutions on Monday announced the successful financial closure for its $1 billion Green HVDC link project, which will enable supply of more renewable power to the city and support its rising electricity demand. The credit facility is part of the $700 million revolving project finance initiative tied up in October 2021 for AESL’s ongoing transmission assets portfolio.

04.08 / 12:37

financing Vistaar Finance to Raise USD 50M in Debt Financing From DFC

Vistaar Finance was founded in 2010 when MSME lending was not very common in India. The company has developed the MSME financing market as a leader in providing long term loans for this segment that has traditionally been unserved or has had to contend with informal high-cost borrowing.

04.08 / 11:23

financing HOME FINANCING: Stalled project revived? Now get enhanced loan

If you had booked an under-construction flat sometime in the last decade, you may be one of those unlucky ones who saw their dream house remain a dream as housing projects got stalled due to financial irregularities committed by promoters. With the intervention of Real Estate Regulatory Authority in respective states, some of those projects were revived – with a new developer coming in or the homebuyers association getting the mandate to complete it. However, most of these revival schemes came with a cost escalation. For those who now need to take a loan or have to revive their old loan accounts, this means knocking at the doors of lenders once again.

01.08 / 15:35

Enterprise financing SBFC offers exposure to fast growing MSME secured financing

ET Intelligence Group:Issue dates: August 03-07, 2023Issue price: Rs 54-57Issue size: Upto Rs 1,025 croreImplied market cap: Upto Rs 6,066 croreFace value: Rs 10 per shareLot size: 260 sharesRetail portion: 35% SBFC Finance, a non-banking finance company (NBFC) focusing on micro, small, and medium enterprises (MSMEs), self-employed and salaried individuals, plans to raise Rs 600 crore through a fresh issue to augment the capital base and Rs 425

24.07 / 10:37

Provident Digital financing IDBI Bank Q1 Results: Lender signs MoU with Ashok Leyland for channel financing partnership

Ashok Leyland CFO Gopal Mahadevan said. IDBI Bank Deputy Managing Director, Suresh Khatanhar said that the bank's digital channel finance tool called 'e-Supply Chain Financing' has been purposely created to cater to the working capital needs of authorized dealers and traders affiliated with corporations.

24.07 / 08:13

Progressive country social Disaster financing G20 DRR Meet Begins: Structured mechanism for financing needed for disaster risk reduction, says PK Mishra

Working Group commenced here on Monday with Principal Secretary to Prime Minister, P K Mishra emphasising the importance of structured mechanism to finance disaster risk reduction. Over the last few years, India has completely transformed the way disaster risk reduction is financed, he said.

21.07 / 00:05

UPS Lawyers financing Fried Sam FTX lawyers accuse Sam Bankman-Fried of financing his criminal defense with $10 million in misappropriated funds

Sam Bankman-Fried, co-founder of failed crypto exchange FTX, was sued in Delaware bankruptcy court on Thursday by his ex-company's lawyers, who accuse him and members of his leadership team of stealing hundreds of millions of dollars.

20.07 / 07:33

COST Cooper Action Mobile country financing energy transition Low G20 members agree to work on low-cost financing for energy transition

The members also agreed on a voluntary action plan for lowering the cost of finance for energy transition, sources close to the development told ET. A report, under India's presidency, on low-cost financing for energy transition which estimates global annual investment of over $ 4 trillion on such developments, was noted by the group. The unanimous agreements were a result of the major deliberations on the first day of the group’s two-day meeting beginning July 19.

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