Fintech unicorn Groww acquired a minority stake in fintech SaaS startup Digio

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Fintech unicorn Groww has reportedly made a strategic investment in fintech SaaS startup Digio and acquired a minority stake in it.

Digio provides businesses with digital infrastructure for identity verification, electronic signing, and collecting recurring payments. Banks, non-bank lenders, brokerage firms, fintech players, and asset management firms use the platform. Digio also received preliminary approval from the Reserve Bank of India to operate as an account aggregator (AA) and payments aggregator last year. According to an Inc42 report, the country’s fintech sector is expected to be worth $1.3 trillion by 2025. Wealthtech, a subsector of fintech, is expected to grow at a CAGR of 44% to reach $28 billion by 2025.

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Fintech unicorn Groww acquired a minority stake in fintech SaaS startup Digio

Fintech unicorn Groww has reportedly made a strategic investment in fintech SaaS startup Digio and acquired a minority stake in it.

Digio provides businesses with digital infrastructure for identity verification, electronic signing, and collecting recurring payments. Banks, non-bank lenders, brokerage firms, fintech players, and asset management firms use the platform. Digio also received preliminary approval from the Reserve Bank of India to operate as an account aggregator (AA) and payments aggregator last year. According to an Inc42 report, the country’s fintech sector is expected to be worth $1.3 trillion by 2025. Wealthtech, a subsector of fintech, is expected to grow at a CAGR of 44% to reach $28 billion by 2025.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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