South Korean tech firm behind super-app Toss raises $405m Series G funding
Tonic Private Equity led the Series G round along with a number of existing investors.
Asia Pacific
MICT completes acquisition of African agri-fintech firm Tingo
MICT owns “100% of the operating business and assets” of Tingo after snapping up Tingo Mobile.
Keyrock lands $72m in Series B funding round
Keyrock plans to invest in infrastructure development and regulatory licensing.
Challenger bank Tonik acquires paytech firm TendoPay
Through the acquisition, Tonik aims to augment its lending portfolio.
Singapore’s Osome raises $25m in Series B funding
The start-up uses machine learning to help businesses automate accounting, payroll and tax reporting.
BIC Bank partners Compass Plus Technologies to expand its payment services
The bank has successfully migrated its in-house processing centre to the tech firm’s TranzAxis platform.
Al Rajhi Bank Malaysia launches digital bank Rize
Rize offers a mobile banking app for Malaysian customers.
Singapore’s Trust Bank taps Thought Machine for core banking tech
Trust has picked the vendor’s Vault Core solution to power its new digital banking offering.
UK and Singapore strengthen fintech ties
The two countries signed an MoU to remove regulatory barriers to fintech trade.
Singapore fintech Finbots.ai signs digital bank client in Asia
The firm has signed up Mongolia’s first neobank, M bank, to help build out its digital lending business.
Thailand and Vietnam launch QR code cross-border payments link
The payments link between the two nations is designed to “enhance consumption and tourism”.
Cambodia’s ABA Bank taps Compass Plus Technologies for card issuance kiosks
The self-service kiosks can issue international debit cards in under two minutes.
Quantifeed to acquire fellow wealthtech Alpima
Together, Quantifeed and Alpima will create “a world-class technology platform”.
ADDX sells stake in digital asset platform CYBAVO to fintech Circle
The deal was signed in June and concluded in July, as part of Circle’s acquisition of CYBAVO earlier this year.
Hong Kong’s WeLab considers new funding round
According to Bloomberg, the fintech firm is valued at around $2 billion.
Private market exchange ADDX bags $20m in expanded pre-Series B
The latest equity round brings total funds raised by ADDX since 2017 to around $140 million.
Japanese paytech unicorn Opn acquires US firm MerchantE
Both firms will share technology and best practices, as well as jointly develop new products and services.
ZDF launches new cloud-based core banking system
Minna Bank, Japan’s first digital bank, is the first user of the new core system developed by ZDF and Accenture.
Vietnam’s Sacombank taps Temenos for digital banking platform
Temenos Infinity will allow Sacombank to acquire, retain and cross-sell to customers across multiple channels.
Standard Chartered and UpSwot launch pilot for SME business analytics solution
The solution will provide the bank’s SME clients with data-driven insights and forecasting capabilities.
Lendtech Ezra appoints Erwan Gelebart as new CEO
Gelebart has spent the past 14 years working for digital financial services firms across Africa and Asia.
GoTyme Bank selects Daon for digital identity verification
The digital bank will utilise Daon’s IdentityX platform for ID authentication.
Brunei’s Baiduri Bank signs for Temenos core
The bank will replace its legacy Flexcube core banking system with Temenos Banking Cloud.
UnionDigital Bank taps Thought Machine and Callsign to power its mobile app
UnionDigital Bank will deploy Thought Machine’s Vault Core solution and Callsign’s digital ID platform.
Bank Central Asia taps Avaloq to upgrade wealth management services
The Indonesian bank will migrate its wealth management system to Avaloq Core.
Hong Kong fintech Reap bags $40m Series A funding
The funding will be used to boost its global market expansion plans.
US Bancorp gets US regulatory approval for MUFG Union Bank acquisition
The firm has received approval from the Federal Reserve and the Office of the Comptroller of the Currency (OCC).
ICYMI fintech funding round-up: Ayoconnect and Tugende
The ICYMI round-up brings to you the latest funding news from around the world, every week.
Prudential and Google Cloud team for health and financial inclusion in Asia and Africa
Prudential will leverage Google Cloud for its flagship health and wealth platform, Pulse.
Singaporean fintech start-up JiPay shutters
According to Crunchbase, the company raised $1.3 million in seed funding in March.
Family-focused financial wellness app Fr33m3n gears up for launch
The app will offer financial literacy programmes such as lectures, tutorials, podcasts and webinars.
Taiwan’s Taichung Commercial Bank to acquire American Continental for $82m
The transaction is expected to close in the first quarter of 2023, subject to regulatory approvals.
Korea Credit Data raises $24.7m in Series D extension
Since it was founded in 2016, the firm has raised more than $110 million in total funding.
Indonesian fintech unicorn Xendit sheds 5% of its workforce
Xendit says affected employees will receive “suitable compensation” alongside additional benefits.
Crypto banking firm Juno lands $18m Series A, launches loyalty token
The funding round, led by ParaFi Capital’s Growth Fund, saw participation from high-profile angel investors.
SinoPac modernises retail banking tech front-to-back office with Temenos
SinoPac, one of Taiwan’s largest banks, is implementing Temenos’ digital banking solutions.
RBank picks BPC for paytech revamp and financial inclusion drive
Philippines-based Robinsons Bank (RBank) will implement BPC’s SmartVista payments platform.
Southeast Asian financial services group Fazz bags $100m Series C
The funding will be used towards building its business account and expanding across Southeast Asia.
Standard Chartered trials duplicate financing prevention solution
The Trade Financing Validation Service is powered by fintech MonetaGo’s Secure Financing system.
Blockchain trade finance platform Contour snaps up we.trade assets
The move forms part of Contour’s plans to launch a digital open account trade finance offering.
