If stress on the balance sheet and repayment pressures due to Covid-19 were not enough, fintech lenders are now grappling with the fallout of the crackdown on shady Chinese loan apps that jolted the sector last year.
Law enforcement agencies have in recent months frozen the bank accounts of multiple regulated and consumer-focussed fintech lending startups as well.
“We heard from our bank branch in Hyderabad that our account has been frozen under instructions from the local police,” said a top executive at one of these startups.
In addition, access 50+ archived articles and 3 new articles every month
Sign In
Join our community of 100,000+ top executives, VCs, entrepreneurs, and brightest student minds
Convinced that The Captable stories and insights
will give you the edge?
Convinced that The Captable stories
and insights will give you the edge?
Subscribe Now
Sign Up Now