• Tech News
  • Fintech
  • Startup
  • Games
  • Ar & Vr
  • Reviews
  • How To
  • More
    • Mobile Tech
    • Pc & Laptop
    • Security
What's Hot

The ‘iPhone 17 Air’ May Stand Out With an Exclusive New Color

July 9, 2025

Internal iOS 18 Code Hints at Apple’s 2025 Chip Roadmap

July 8, 2025

Apple Still Fighting to Get Blood Oxygen Back on Your Wrist

July 8, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Facebook Twitter Instagram Pinterest VKontakte
Behind The ScreenBehind The Screen
  • Tech News
  • Fintech
  • Startup
  • Games
  • Ar & Vr
  • Reviews
  • How To
  • More
    • Mobile Tech
    • Pc & Laptop
    • Security
Behind The ScreenBehind The Screen
Home»Fintech»SBM Bank India, building BaaS platform, seeks funding at $200 million valuation • Fintech
Fintech

SBM Bank India, building BaaS platform, seeks funding at $200 million valuation • Fintech

December 6, 2022No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
SBM Bank India, building BaaS platform, seeks funding at $200 million valuation • TechCrunch
Share
Facebook Twitter LinkedIn Pinterest Email

The Indian arm of SBM Financial institution, one of many banks that has aggressively labored with fintech startups within the South Asian market, is participating with buyers to lift capital and pitching the imaginative and prescient of turning into one of many high banking-as-a-service suppliers within the nation, in line with a supply accustomed to the matter.

The Indian arm is in superior levels of deliberations to lift between $50 million to $75 million at a pre-money valuation of about $200 million, the supply stated, requesting anonymity discussing personal issues. The spherical hasn’t closed, so phrases of the deal could change, the supply stated.

The agency sees its deep partnerships with fintech startups akin to Bengaluru-headquartered fintechs Razorpay and Slice as a key development pillar, in line with an investor presentation seen by Fintech.

SBM Financial institution India declined to remark.

The financial institution has actively courted fintech startups as prospects, providing them co-branded playing cards and powering their neobanks, because it sought to distinguish itself from the big rivals that for years prevented participating with the youthful corporations.

Banks have lengthy been a favourite funding for retail buyers. Worth of 100 rupees invested in HDFC and ICICI Financial institution shares on January 1, 2010 surged to — together with with dividends — to over 1,039 and 672 rupees as of late final month, respectively, in line with an evaluation by Bernstein.

Some enterprise buyers have additionally proven urge for food to spend money on banks in latest months – Accel and Quona just lately backed Shivalik Small Finance Financial institution, for example – however a rising variety of different banks together with RBL and Federal Financial institution have employed an analogous technique as SBM and courted many startups up to now two years.

See also  TMNT: Shredder's Revenge sold over 1 million copies within its launch week

Large banks together with HDFC and ICICI, on the identical time, have have additionally considerably reversed the course and are actually not as hostile to startups anymore.

With the mounting strain and native FDI guidelines, its valuation ask could relaxation on buyers being satisfied that it’s in a position to retain its enterprise shoppers, their continued development and it deepening its partnership with them to offer extra choices.

The India arm generated a internet income of $62.7 million within the monetary yr ending March this yr, in line with the presentation.

Source link

BaaS bank building Fintech funding India million platform SBM seeks valuation
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Apple’s India Dream Wavers as Foxconn Retreats to China

July 3, 2025

This Building Located in Southern China Is ‘Stolen iPhone Central’

May 23, 2025

‘We Are Not Interested in You Building in India’

May 15, 2025

Apple Partnering With Anthropic to Develop Claude-Powered AI Coding Platform

May 6, 2025
Add A Comment

Comments are closed.

Editors Picks

What Does Greece Get From WEF?

January 4, 2023

Google’s $999 Pixel 8 Pro leans into high-end camera features

October 7, 2023

Twitter’s Moderation System Is in Tatters

November 17, 2022

Battle royale brawler Rumbleverse launches from its cannon on August 11th

July 16, 2022

Subscribe to Updates

Get the latest news and Updates from Behind The Scene about Tech, Startup and more.

Top Post

The ‘iPhone 17 Air’ May Stand Out With an Exclusive New Color

Internal iOS 18 Code Hints at Apple’s 2025 Chip Roadmap

Apple Still Fighting to Get Blood Oxygen Back on Your Wrist

Behind The Screen
Facebook Twitter Instagram Pinterest Vimeo YouTube
  • Contact
  • Privacy Policy
  • Terms & Conditions
© 2025 behindthescreen.fr - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.