Ranjan Pai-Backed Finnable To Raise INR 30 Cr From TVS Capital, Others - Related to white, inr, veefin, tvs, january,

PhonePe Continues To Lead UPI In January, Paytm’s Market Share Slips

Sachin Bansal-led Navi continued to be at the fourth position, with its UPI transactions jumping nearly 20% to Cr in January from Cr in December 2024.

Paytm’s share in UPI transactions dipped to in January from in December 2024 and in November 2024.

PhonePe accounted for more than 48% of the total UPI transactions in January. Followed by Google Pay with .

Continuing its dominance in the UPI ecosystem, fintech major PhonePe processed Cr transactions in January 2025. This was higher than the Cr transactions processed in December 2024.

The fintech giant accounted for more than 48% of the total UPI transactions in January. The total value of the transactions processed by PhonePe stood at INR Lakh Cr last month as against Lakh Cr in December 2024.

Overall, UPI transactions touched an all-time high at 1,699 Cr in January. With total value of transactions at INR Lakh Cr. The transaction count rose month-on-month (MoM) and 39% year-on-year (YoY).

Google Pay held on to the second position last month with a market share Google’s fintech arm recorded Cr transactions during the month under review, up MoM.

Vijay Shekhar Sharma-led Paytm retained the third position. But its market share continued to decline. Paytm’s share in UPI transactions dipped to in January from in December 2024 and in November 2024.

Sachin Bansal-led Navi continued to be at the fourth position, with its UPI transactions jumping nearly 20% to Cr in January from Cr in December 2024.

Meanwhile, Kunal Shah-led CRED marginally lost its market share after seeing a decline in the transactions processed by it to Cr as against Cr in December.

In relation to this, this comes at a time when UPI ecosystem continues to expand and. The payment technology has become synonymous with digital payments. As per a recent findings by the Reserve Bank Of India (RBI), UPI ruled the digital payments landscape in 2024. With over 85% share in terms of volume. As per the findings, out of 20,787 Cr digital payments recorded during the year, 17,221 Cr transactions were routed through UPI.

In 2024. The central bank increased the transaction limit of UPI Lite wallet to INR 5,000 from INR 2,000 to give a further push to UPI transactions. The offline transaction limit for UPI Lite service was also increased to INR 1,000 per transaction from INR 500.

Besides the growth in India, the National Payments Corporation of India (NPCI). Which operates UPI, has taken a number of steps to take UPI global. For instance, last month, the NPCI partnered with Middle East-based payment solutions provider Magnati to expand QR based UPI merchant payments in the UAE.

Later that month. The payment authority put restrictions on any transaction with an ID containing a special character to standardise the UPI ID generation process. The order was effective from February 1.

Acknowledging the rise of UPI, President Droupadi Murmu stated that it has gained global recognition.

White Rivers Media recorded a turnover of INR Cr in FY24, showing steady growth from INR Cr in FY23 and. INR Cr in FY22.

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Veefin Solutions To Pick Up 49% Stake In White Rivers Media

White Rivers Media recorded a turnover of INR Cr in FY24, showing steady growth from INR Cr in FY23 and INR Cr in FY22.

Building on these developments, the organization will buy 4900 equity shares at INR Lakh each, aiming to complete the transaction in 30-60 days.

Veefin Solutions subsidiary Infini Systems will acquire 49% stake in White Rivers Media for INR Cr through a combination of cash and equity swap deal.

Veefin Solutions is looking to pick up a controlling stake of 49% in digital marketing agency White Rivers Media for INR Cr ($ Mn) via its subsidiary Infini Systems Limited.

Moving to another aspect, the transaction will be a mix of cash and. Equity. Veefin’s arm Infini Systems will acquire 4,900 equity shares of White Rivers Media at Lakh each, the enterprise unveiled in an exchange filing.

Through this acquisition. Veefin aims to increase revenue and efficiency by consolidating client relationships. The deal is expected to be completed in 30-60 days,.

Incorporated in 2016, White Rivers Media reported a turnover of INR Cr in the financial year 2023-24 (FY24), as compared to INR Cr in FY23 and INR Cr in FY22.

Founded by Shrenik Gandhi and Mitesh Kothari in 2012. Mumbai-based White Rivers Media operates as a digital marketing agency working with clients across OTT platforms, entertainment, FMCG and technology sectors. It indicates to have a 600-member team working across creative and media solutions, MarTech capabilities, and marketing transformation.

Raja Debnath, chairperson, cofounder and CEO. Veefin Group stated, “At Veefin Group, we have built a strong ecosystem that empowers businesses with cutting-edge financial technology and digital transformation solutions. Through this strategic investment, we are enhancing our ecosystem with deep MarTech expertise, creative digital marketing solutions, and a proven track record of success.”.

Shrenik Gandhi, cofounder and CEO, White Rivers Media, expressed, “By combining creative and. Media solutions with MarTech innovation and Veefin Group’s technology-driven ecosystem, we can help brands navigate an evolving digital landscape with precision and scale.”.

Founded in 2020, Veefin has been actively expanding through acquisitions. Last week, it acquired Dubai-based TradeAssets through Estorifi Solutions. In December last year, it bought Singapore-based GenAI startup Walnut AI for $2 Mn.

Additionally, the BSE SME-listed enterprise raised INR 136 Cr from capital market investors in December 2024. It plans to raise another $18 Mn in the ongoing financial year.

Veefin reported a profit of INR Cr in Q2 FY25. Up 325% from INR Lakh in the year-ago period. Its operating revenue rose 112% to INR Cr from INR Cr in Q2 FY24.

She also pointed out that women’s western wear, the segment in which Shein operates. Is highly dynamic and driven by trends.

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Ranjan Pai-Backed Finnable To Raise INR 30 Cr From TVS Capital, Others

The business’s board approved a special resolution to issue 92,831 preference shares at an issue price of INR 3, each, totaling to INR Cr,.

The funding round will be led by TVS Capital and Malpani Group along with a few other investors.

Finnable is set to raise INR Cr (about $ Mn) in a Series B funding round.

Ranjan Pai-backed lending startup Finnable is set to raise INR Cr (about $ Mn) in a Series B funding round.

, the funding round will be led by TVS Capital and Malpani Group along with a few other investors.

Entrackr reported the development first.

For the same, the enterprise’s board approved a special resolution to issue 92,831 preference shares at an issue price of INR 3, each, totaling to INR Cr, .

Of the total Series B round, TVS Capital will invest about INR Cr while Malpani Group will infuse INR Cr into the organization.

Founded in 2015 by Nitin Gupta. Viraj Tyagi and Amit Arora, Finnable is a personal loan app that provides quick, paperless loans ranging from INR 25,000 to INR 10 Lakhs.

In 2021, Ranjan Pai-led MEMG family office invested INR 40 Cr in the business, acquiring a minority stake.

Furthermore, this comes at a time when the Indian startup ecosystem is seeing traction lately, with an increased focus from the central government in the segment. The government has been engaged in facilitating term loans to MSMEs as well.

Most lately, in its FY26 Union Budget, the government presented an enhanced credit guarantee for micro and small enterprises from INR 5 Cr to 10 Cr.

While for startups, the credit guarantee has been enhanced from INR 10 Cr to 20 Cr, with the guarantee fee moderated to 1% for loans in “27 focus sectors key for Atmanirbhar Bharat.”.

Meanwhile, in January this year, ecommerce major Amazon revealed acquisition of digital lending startup axio (formerly known as Capital Float).

Moving to another aspect, the same month, Mumbai-based Infinity Fincorp Solutions raised $35 Mn (around INR 300 Cr) in Series A funding round. Led by existing investor Jungle Ventures to boost its micro, small and medium enterprises (MSMEs) lending outreach.

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