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    Ranjan Pai, Axis Bank may back gold loan startup Rupeek

    Claypond Capital, Axis Bank, and new investors plan to invest in Rupeek at a reduced valuation. Investment details are being finalized, with existing investors also considering selling shares. Rupeek previously raised funds from 360 One Asset at a significant discount.

    A week of hits and misses in fintech; and other top tech, startup stories

    Hi, this is Pratik Bhakta in Bengaluru. It’s been a busy news week for us here at ETtech covering some of the most important stories in the fintech space. We had a string of big exclusives, wrapping it up here just in case you missed reading them.

    Premji Invest eyes Nainital Bank stake; Ranjan Pai may back Rupeek

    Happy Friday! Azim Premji’s family office is eyeing a majority stake in Bank of Baroda-owned Nainital Bank. This and more in today’s packed edition of ETtech Morning Dispatch.

    RBI cautions banks on gold loan disbursals through fintech startups

    RBI cautions banks on gold loan disbursement concerns through fintechs like Rupeek, IndiaGold, and Oro Money. Banks evaluating next steps post IIFL Finance issue. Asset quality improved at Rupeek, with partnerships with Federal Bank, Indian Bank, and South Indian Bank.

    Rupeek’s steep down round; Paytm to become third-party UPI app

    Gold loan startup Rupeek may soon be tying up a new funding round, albeit at a lower valuation. This and more in today’s ETtech Morning Dispatch.

    Gold loan startup Rupeek is staring at a down round

    Rupeek could be staring at a cut of as much as 40-50% in its valuation. It was last valued at $600 million. A down round is where a company raises new funds at a lower valuation compared with the previous round.

    The Economic Times
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