Author: nripn

In a move that highlights the potential of India’s booming fintech sector, an early-stage venture capital firm 8i Companies announced a full release of M2P financial technologya leading company in the field of API infrastructures. The release generated a stunning impact 12X ROI in just 4.5 years, which is a testament to both 8i Ventures’ investment acumen and M2P Fintech’s remarkable growth trajectory. What does this golden exit mean? And why do investors prefer to exit startups after making profits? Let’s find out with ICT. 8i Ventures Gold Release of M2P 8i Companies’ travel with M2P financial technology started in…

Bill Harris (left) is the founder and CEO of Evergreen Money. “If you took all the checking accounts in the country and paid 5 percent on them,” he said, “that would be an additional $103 billion in revenue in people’s pockets.”Tony Avelar/Bloomberg Disastrous bankruptcy of middleware provider Synapse Financial affects consumers who were unable to access the funds they had deposited at certain fintechs. This also has an impact banks specializing in fintech partnerships and were facing increased regulatory scrutiny even before the Synapse fiasco.But new fintech companies continue to launch. Last month saw the rollout of Liquid Treasuries, a…

Here’s what to take away from today’s Morning Brief, which you can register to receive every morning in your mailbox accompanied by:Nuclear power is poised for a renaissance in the United States, driven by big tech’s seemingly insatiable need for electricity to power AI-generating data centers.Three recent headlines have highlighted this point: Microsoft (MSFT) signed an agreement with Constellation Energy (CEG) to restart a reactor at Three Mile Island. Google (GOOG, GOOGLE) in partnership with Kairos to buy electricity from small modular nuclear reactors, called SMRs. And Amazon (AMZN) leads $500 million funding round for another SMR company, X-Energy.The nuclear…

SUMMARY 8i Ventures completed a successful exit from M2P Fintech, achieving 12X ROI over 4.5 years and generating 126% of its debut fund’s corpus with just 10% of its capital. The company’s initial investment of INR 9.7 Cr in M2P Fintech, which specializes in API infrastructure for financial services, resulted in a return of INR 115.9 Cr. This strategic exit supports 8i Ventures’ plan to focus on early-stage investments, coinciding with the launch of its second $50 million fund and the Origami seed funding program targeting fintech and e-commerce. Early-stage venture capital firm 8i Ventures announced its full exit from…

(Bloomberg) — The head of ION Corporates, one of the main units of ION Group, has left the company, the latest in a series of high-profile leadership changes at the helm of the financial data provider.Rich Grossi was replaced as general manager of the Enterprise division by Sunil Biswas, who was previously product director for raw materials, according to a person familiar with the matter, who asked not to be identified because he is not authorized to do so. speak publicly.Grossi did not respond to messages left on his LinkedIn account.His departure is the latest management shake-up at the group…

Pan-African fintech startup Yellow Card has raised US$33 million in Series C funding to drive its global expansion and strategic initiatives, bringing its total equity funding to US$85 million. Since its launch in Nigeria in 2019, Yellow card has become the largest and first licensed Stablecoin on/off ramp on the African continent. It has operations in 20 African countries and over $3 billion in transactions facilitated across the continent. In September 2022, it announced the closure of its US$40 million Series B roundand has now followed up with a US$33 million Series C round, led by Blockchain Capital, with participation…

CapWay, a Y Combinator-backed fintech that sought to bring financial services to people living in so-called banking deserts, has been shut down, according to its founder Sheena Allen. Allen wrote about this on LinkedIn and confirmed to TechCrunch. “I am proud of the work we were able to accomplish, but honestly disappointed that we were not able to complete the mission,” she wrote. “I believe there is still much work to be done in the area of ​​financial inclusion, so this won’t be the last time you hear from me when it comes to the fight for economic equality. Allen…

(Reuters) – Nvidia shares hit a record high amid a rally in U.S. chip stocks on Thursday after strong sales forecasts from industry barometer TSMC bolstered expectations Investor optimism about demand for processors used to power artificial intelligence applications.Taiwan Semiconductor Manufacturing Co, the world’s largest contract chipmaker, raised its expectations for annual revenue growth and said AI chip sales would make up an average percentage of its revenue. business for the entire year.US-listed TSMC shares rose more than 11%, pushing the company’s market capitalization above $1 trillion.The forecast from the leading producer of advanced AI chips boosted investor confidence in…

Payment technology company Stripe Inc. is reportedly in talks to acquire fintech startup Bridge Ventures Inc. for $1 billion. According to ForbesThe acquisition negotiations, which are still under discussion and subject to either party withdrawing, would constitute the largest deal made by Stripe to date. Some of the sources cited by Forbes also note that regulatory considerations such as licensing and compensation for employees, including Bridge founders Zach Abrams and Sean Yu, remained potential obstacles. Neither Stripe nor Bridge have commented on the announced acquisition discussions. Founded in 2022, Bridge is building a global payments network that uses stablecoins to…

The UK’s financial watchdog is launching an AI Lab to bring together technology companies, academics and regulators to better understand the present and future impact of technology on financial services. Announced in a speech by Jessica Rusu, Head of Data, Information and Intelligence at the Financial Conduct Authority (FCA), the AI ​​Lab will support the implementation of AI in finance and outline how it can be regulated. The lab will consist of four elements: AI Spotlight, where developers and businesses share how they use AI; AI Sprint, which will examine how to enable the safe adoption of AI in finance;…