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Welcome to TechCrunch Fintech ! This week we ’re looking at a company bring in a rarified entrance into India ’s important — but interlace - down — banking market and a new case facing SoLo Funds .
The big story
Slice has completed its uniting with North East Small Finance Bank , marking a rarified instance of a startup successfully enteringIndia ’s tightly regulated banking sector . The unification transmute Slice into a banking entity take after months of regulative scrutiny — and gives the startup access code to capital at lower monetary value and unmediated ascendence over its loaning surgical operation .
harmonize to an email sent to customers , Slice will keep its existing digital payment and lending services as well as expand into traditional banking with offering like savings account statement and investing product .
Analysis of the week
If you want the full download on the highlighting and biggest takeaway from our Fintech point , you ’ll have to wait until next week . Until then , check out the recording of whichever panels interest you and explore the industry insights on your own terms .
Dollars and cents
Finix raise $ 75 million for its with child push yet against competitor Stripe . CEO and laminitis Richie Serna severalise TechCrunch that becoming a payment processor was“hugely transformational ” for the byplay , and a main driver of the fundraise . Serna sound out Finix has quadruple its receipts in the last twelvemonth , but there ’s still a retentive style to go to compete with Stripe ’s client bag .
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Upflow is a inauguration that originally focused on managing undischarged invoice . But the company is nowannouncing a shift in its scheme to become a B2B payment platformwith its own payment gateway to complement its story receivable automation solution .
Remote , an 60 minutes platform for managing geographically pass around teams , is doubling down on its focus on managing equity compensation with a new product : Remote Equity . Thanks to a novel partnership , companies using Carta to cope their cap mesa can now draft and consequence option grantsin Carta and let in international employees .
SoLo Funds is facinga new class action case . The cause , first describe by Bloomberg , charge SoLo Funds of lead astray consumer by advertising zero - pursuit fees on loans yet encouraging “ bakshish fee ” and “ contribution fees ” to prevail said loanword . The complaint alleges these are hidden fees that are hard to opt out of , making the company ’s loanword more expensive than borrowers expected .