Fintech: An Industry with Promise

There is no doubt about the fact that a plethora of fintech startups have come up, especially during the pandemic. Newspapers flash headlines like, “X Startup raises USD$10 million in seed round” on a regular basis. The pandemic was thought to be a hindrance for the initiation of startups, however, it proved to be a facilitator as the digitalisation of processes made it significantly easier to launch a startup. Moreover, as most processes were transitioned to the online medium owing to the government’s efforts in minimising cash transactions, a push was given to fintech. Even as other industries continued to accumulate hefty losses, fintech continued to shine. Finance is a field that has long garnered attention of the masses being an industry with monetary as well as developmental promises. In this piece, we observe the future projections of growth in the field.

[Funding alert] Sequoia Capital India, 120 angels back Arbo Works

Sequoia Capital India and 120 other private supporters have put an undisclosed sum in previous Google chief Caesar Senguptas fintech adventure, Arbo Works. The private supporters incorporate CEOs of Fortune 500 organizations, startup authors, senior leaders from innovation and monetary foundations and other innovation professionals, said Caesar via online media stage LinkedIn. Sequoia Capital India, which drove the round, didn't remark on the board organization or the size of the round.

[Funding alert] Dream Sports on dream ride towards decacorn valuation

Dream sport unicorn Dream Sports, the main games tech organization with brands, for example, Dream 11, Dream Capital, FanCode, DreamSetGo, Dream Game Studios, and DreamPay in its portfolio, has declared the finishing of a speculation of $840 million. At $8 billion valuation, the most recent subsidizing round is driven by Falcon Edge, DST Global, D1 Capital, Redbird Capital and Tiger Global. Existing financial backers like TPG and Footpath Ventures likewise partook in the most recent subsidizing round, bringing Dream Sports nearer to decacorn valuations. Dream Sports, which gloats of having a client base of 140 million Indian avid supporters, calls the most recent financing round as the biggest interest in the games tech field on a worldwide scale.