PhonePe, a company supported by Walmart, is stepping into the stock broking business with a new app called Share.Market. This app is part of PhonePe’s subsidiary, PhonePe Wealth Broking Pvt. Ltd, and will be led by Ujjwal Jain and Sujit Modi, the founders of WealthDesk and OpenQ. These platforms were bought by PhonePe for $75…
The Reserve Bank of India (RBI) has dealt a setback to Kunal Shah’s Cred by declining its application to increase its ownership in the non-banking finance company (NBFC), Newtap Finance. Currently, the RBI holds a 23.6% stake in Newtap, while the remaining ownership rests with Shah. This decision, reportedly centered around concerns related to corporate…
Lula, often dubbed the “Stripe for insurance,” has recently secured a substantial $35.5 million in Series B funding, driven by a surge in customer demand. Initially focused on providing an insurance API to simplify the insurance infrastructure for businesses, Lula has evolved into a comprehensive insurance solutions provider. Its innovative tools encompass risk management, claims…