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BharatPe’s banking licence, Digit’s funding, Mswipe’s new CEO and more -- mega deals and launches in India’s fintech space

Kritti BhallaJul 3, 2021, 09:23 IST

BharatPe

BharatPe will be taking over the scam-hit PMC bank in a joint venture with Centrum Group.
Former Cashe CEO Ketan Patel will lead MSwipe as the company pivots to helping India SMBs.
Mastercard has made a strategic investment in Instamojo to strengthen its efforts to help small businesses.

As India celebrated its micro, small and medium enterprises (MSMEs) this week -- as part of the MSME week — the Indian fintech segment had an array of announcements that may help this underserved community. In the last two days, several fintech businesses — big or small — have launched services, products and shared plans on how they plan to help small Indian businesses.

Business Insider compiled a list of such announcements that may end up defining the course of Indian fintech for years to come.

Three-year-old fintech startup BharatPe takes over PMC bank

BharatPe

Sachin Bansal introduces open-ended equity scheme

Mylittlefinger/Wikipedia

Digit Insurance raising $200 million

Digit

Former Cashe CEO Ketan Patel to lead Mswipe

BCCL

Mastercard invests in Instamojo to strengthen India’s MSMEs

Instamojo

Muthoot Fincorp acquires majority stake in Paymatrix

Paymatrix

ClearTax rebrands itself as Clear to cater to a wider offering

Clear

UK’s Tide plans to invest ₹1,000 crore in India to help SMEs

Tide

Five fintech ideas that are raking in the most amount of money