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The company, which counts India as its largest market alongside its home country UK, joins the unicorn club with the latest fundraise.


An NBFC licence and a string of approvals give the fintech firm a fresh shot at relevance. But patchy execution, intense competition and a stagnant core cast doubt on whether it can capitalize on the opportunity.
The regulator’s proposals to introduce checks and safety features in instant payments, if implemented, may end up testing banks.
The UK-based company will have to go above and beyond to survive a fiercely competitive and price-conscious market with strict regulations.