Good morning [%first_name |Dear Reader%],

The weather has been quite messed up lately. North India is coping with one of the worst-ever heatwaves on record, while many parts of southeast Asia are riding out one of their coldest Mays in history. I hope all of you are keeping safe, whichever the case may be. 

But it isn’t just the physical world that’s dealing with a change in climate. Because as far as Indian fintechs are concerned, it looks like there’s quite a bit of rough weather on the horizon.

Fintech funding faces a freezing risk

The excesses of venture capital over the last two years have created a bustling collection of companies doing all and sundry. But most of them share one thing in common: they don’t deserve the valuations those fat VC checks gave them. 

So it isn’t surprising that many have tried their hardest to grow to fill those (sometimes ridiculously sized) shoes, leading to practices that we are all too familiar with today—loans sold as buy-now-pay-later payment options, people getting loans they never signed up for, loans to buy lollipops…  That last one is a joke, but you get my point.