FinTech Futures: Top five stories of the week – 6 May 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Asia
SME neobank Open bags $50m, becomes India’s 100th unicorn
The Series D round was led by IIFL with participation from existing investors Temasek, Tiger Global, and 3one4 Capital.
Asia fintech funding round-up: SadaPay & Finbots.AI
A handy round-up of the recent funding endeavours of Asian fintech firms.
Indian fintech Financepeer raises $31m in Series B round
The firm says it will use the funds to make quality education more accessible across India.
Indian fintech start-up Recur Club secures $30m seed funding
The seed funding is made up of a combination of equity and debt.
FinTech Futures: Top five stories of the week – 22 April 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Pakistani fintech start-up Abhi raises $17m in Series A funding
Funds will be used to expand its team and build out marketing capabilities.
Indian crypto platform CoinDCX raises $135m Series D
CoinDCX CEO says the investment “reinforces the belief in India’s immense potential in the crypto ecosystem”.
ICYMI fintech funding round-up: Winden, EximPe, Uplinq, ImaliPay & SwooshTransfer
Our weekly fintech round-up for you to get the latest funding news from around the world.
State Bank of Pakistan searches for new CTO
Pakistan’s central bank is looking for a new chief technology officer (CTO).
India’s Pine Labs raises $50m from Vitruvian Partners to drive growth
The raise comes hot on the heels of a $150 million investment in February from Alpha Wave Global.
SME financing platform Oxyzo raises $200m Series A, becomes unicorn
The company’s vision is to become “India’s most profitable, tech-driven, B2B SME fintech player”.
ICYMI fintech funding round-up: Mistho, Plurall, Rupifi
Our weekly fintech round-up for you to get the latest funding news from around the world.
Nigerian mobility fintech Moove raises $105m to expand to Asia and MENA
Money will be used to expand Moove to seven new markets across Asia and MENA over the next six months.
Pakistani B2B e-commerce platform Bazaar lands $70m Series B
The latest investment takes Bazaar’s total capital raised to more than $100 million.
Indian fintech Money View lands $75m Series D funding
Money View is now valued at $625 million.
Property lender Better.com lays off more than 3,000 staff in fresh cuts
The announcement was made by the company’s interim president Kevin Ryan via an e-mail to affected staff.
India’s CredAvenue hits unicorn status with $137m Series B round
CredAvenue will use the cash to invest in artificial intelligence, machine learning and data analytics.
Airtel partners Axis Bank to boost India’s digital financial services ecosystem
The Airtel Axis Bank credit card is the first product to be launched under the partnership.
Indian neobank Niyo lands $100m Series C to boost product development
Niyo CTO says: “We are seeing massive tailwinds for digital financial products since Covid-19.”
India’s Pine Labs secures $150m funding from Alpha Wave
The fintech has previously seen investment from the likes of PayPal and Mastercard.
Education financing platform Propelld raises $35m Series B
The start-up intends to add another 100 to 150 employees to its already 150-strong workforce.
Askari Bank taps Hysab Kytab for personal financial management tech integration
The integration of the PFM solution forms part of the bank’s ongoing digitisation strategy.
Pakistan’s largest bank in major tech overhaul with Temenos and NdcTech
It is understood the new tech will replace the legacy Equation system from Temenos’ rival, Finastra.
India confirms digital rupee CBDC to debut by 2023
The finance minister announced a raft of digital economy support measures in her Union Budget 2022-23 speech.
New neobank Coupl set to launch in India
Start-up allows couples to set up joint accounts and manage their money together.
Bank of Baroda taps enterprise tech provider NCR for ATM-as-a-Service solution
The Indian bank says the new ATMs will offer “expanded transaction options via our self-service channel”.
Crypto platform Rain rakes in $100m in Series B funding
Rain’s $110m Series B funding round was co-led by Paradigm and Kleiner Perkins.
Modifi acquires Seawise Capital’s trade finance and SaaS business in India
Modifi’s business in India has grown more than 2,100% over the past 18 months.
Rupifi appoints early investor Rajesh Kamra to lead B2B payments innovation
Rupifi says it’s India’s “first embedded finance company” in the B2B payments space.
Indian fintech start-up M2P raises $56m in Series C1 round
M2P claims to have raised more than $100 million in the past year alone.
New financial services app Zindigi launches in Pakistan
Zindigi says the country has many banks, “but not many banking experiences”.
Indian fintech FPL Technologies raises $75m in Series C round
Pune-based FPL’s products are designed to create a credit-savvy population.
Crypto exchange CoinDCX names former Wells Fargo exec Divakar Prayaga head of information security
Launched in 2018, CoinDCX claims to be India’s “safest crypto exchange”.
Sumitomo Mitsui Trust Bank invests in Indian lender DMI Finance
DMI Finance has closed a $47 million equity investment round.
Central Bank of Bahrain and JP Morgan conduct successful digital currency settlement test
The test was facilitated by JP Morgan’s new blockchain-focused business unit Onyx.
B2B embedded finance fintech Rupifi raises $25m in Series A round
The fintech says B2B commerce has undergone a digital transformation over the past few years.
Indian paytech Cashfree to double workforce this year
The company plans to have a 950-strong workforce by the end of 2022.
New neobank for couples Fibbl launches in India
The Bangalore-based Fibbl bills itself as a neobank for couples to manage money as a team.
ICYMI funding round-up: pliant, CreditBook, CIRCA5000, and LiveFlow
Our weekly ‘In Case You Missed It’ funding round-up for you to get the latest funding news.
