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RBI diktat comes months after the ED accused the company of violating FDI norms under FEMA, when it was raising money by claiming to be an IT services business
Founder Nitya Sharma confirmed the RBI order to Inc42 and said the company was working on the next move
The BNPL startup claims to have 7 Mn users and has so far raised $83 Mn from a clutch of marquee investors
The Reserve Bank of India (RBI) has reportedly asked Bengaluru-based fintech startup Simpl
to…
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RBI diktat comes months after the ED accused the company of violating FDI norms under FEMA, when it was raising money by claiming to be an IT services business
Founder Nitya Sharma confirmed the RBI order to Inc42 and said the company was working on the next move
The BNPL startup claims to have 7 Mn users and has so far raised $83 Mn from a clutch of marquee investors
The Reserve Bank of India (RBI) has reportedly asked Bengaluru-based fintech startup Simpl to…
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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