Global technology giants are pushing back against attempts by India’s telecom networks to bring internet services under stricter regulation, rejecting arguments that such measures are necessary to create a “level playing field” and address national security concerns. The Asia Internet Coalition (AIC), a powerful industry body that represents Amazon, Apple, Google, Meta, Microsoft, Netflix and […]
Binance restarts services in India after seven-month regulatory halt
Binance, the world’s largest cryptocurrency exchange, has resumed operations for users in India after a seven-month hiatus imposed by local authorities for alleged illegal operations in the country. The exchange said Thursday it has registered as a reporting entity with India’s Financial Intelligence Unit (FIU), a government agency tasked with scrutinizing financial transactions. India had […]
CloudPay, a payroll services provider, lands $120M in new funding
In 1996, two companies, Patersons HR and Payroll Solutions, formed a venture called CloudPay to provide payroll and payments services to enterprise clients. CloudPay grew quietly over the next several decades, adding workflow automation features to maintain pace with upstart rivals. It’s still growing, CFO Andy Thomson assures TechCrunch. Thomson claims that CloudPay is handling […]
Rediff, once a pioneer of internet services in India, sells majority stake for $3M
Payments infrastructure firm Infibeam Avenues has acquired a majority 54% stake in Rediff.com for up to $ 3 million, a dramatic twist of fate for the 28-year-old business that was the first Indian internet firm to list on NASDAQ back in the year 2000. Founded in 1996, Rediff rode the initial dot-com wave to become […]
Nala to use $40M Series A to build B2B payments platform, scale remittance services
Nala, a remittance startup that is now widening its portfolio through a new B2B payments platform, has raised $ 40 million equity in a rare deal that becomes one of the largest Series A transactions in Africa. The oversubscribed round was led by San Francisco-based VC firm Acrew Capital, with participation from DST Global, Norrsken22, HOF […]