While the amount of funding in the late stage almost tripled to $458 million from $149 million in May last year, investors made only four investments in May, over eight deals in the year-ago period.
Fintechs expect retail participation in the bond market to grow similar to the equity markets during the Covid lockdown as Sebi allows companies to issue bonds at a face value of Rs 10,000. Bonds could prove to be a competitor to FDs.
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