wordpress blog stats
Connect with us

Hi, what are you looking for?

ItzCash makes equity investment in expense management company Finly


Payments company ItzCash has made an undisclosed equity investment in Bangalore-based expense management company Finly. ItzCash added that the deal signed was also a business partnership between the two companies.

Finly has developed an expense management tool for corporates and businesses which will enable them to get a better insight into their spends and expenses. The company offers a web and mobile platform and will use ItzCash prepaid cards for expense management and disbursement.

Finly was founded in 2015 by Veekshith Rai and Vivek AG and says that it has tied up with a number of businesses but hasn’t mentioned who its clients are on the website.

Meanwhile, the Economic Times reports that this investment is the first of several by ItzCash in the fintech space. Naveen Surya, MD and CEO of ItzCash, added that the company would be looking at joint ventures, acquisitions and investments in blockchain technology, credit and insurance.

Advertisement. Scroll to continue reading.

ItzCash has clocked volume transactions of over Rs 6,000 crore in the utility bill payments space for the year 2015-16. Cumulatively, it has processed bill payment transactions worth Rs 50,000 crore till date from when it started operations in 2006.

In July 2016, the company also got an in-principle nod to run a Bharat Bill Payments Operating Unit (BBPOU). The National Payments Corporation of India (NPCI) set up the Bharat Bill Payment System (BBPS), a centralized interoperable bill payment system. BBPOUs are units which can create an agent network and will be responsible for on-boarding billers and aggregators. In addition, they will be responsible for transaction handling, infrastructure development and application development, including APIs.

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



While the market reality of popular crypto-assets like Bitcoin may undergo little change, the same can't be said for stablecoins.


Bringing transactions related to crypto-assets within the tax net could make matters less fuzzy.


Loopholes in FEMA and the decentralised nature of crypto-assets point to a need for effective regulations.


The need of the hour is for lawmakers to understand the systems that are amplifying harmful content.


For drone delivery to become a reality, a permissive regulatory regime is a prerequisite.

You May Also Like


Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...


135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...


Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...


By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ