ICICI Prudential, Lombard acquire 10% stake in Fino PayTech for $17.26 mn
Friday, 13 January 2017 - 11:04:57
ICICI Prudential, Lombard acquire 10% stake in Fino PayTech for $17.26 mn
Payments bank applicant FINO PayTech Ltd has closed Rs 400 crore in primary funding following the latest tranche of capital from ICICI Prudential Life Insurance and general insurer ICICI Lombard even as it awaits regulatory approval to launch the payments bank before early April, said a top company executive.
FINO PayTech was chosen by UIDAI to demonstrate the tech enabled payment mechanism at the national launch of Aadhaar-based service delivery.