Indian fintech start-up Simpl lands $40m in Series B funding
Fast-growing Indian e-commerce sector is in the company’s sights with its cardless payments offerings.
Asia
SME neobank Open launches new embedded finance platform Zwitch
Open says Zwitch has already helped 10 start-ups embed financial services.
Indian government takes next step in banning cryptocurrencies
Scheduling of bill points to government’s stance despite speculation over rethink.
Euroclear partners India’s HCL to modernise digital framework
HCL will set up a co-innovation lab in Brussels to explore emerging technologies.
Citi to take $1.5bn charge shuttering South Korean retail banking business
The charge related to the closure will affect the bank’s operations through the rest of 2021 and 2022.
South African BaaS platform Jumo raises $120m in funding
The company will use the cash to expand into more emerging markets.
Indian fintech Glimpay aims to solve freelancer payment issues
The firm says it can help users send trackable and shareable invoices to clients to manage their payments.
Digital trade finance platform Drip raises $175m in equity and debt funding
Drip provides SMEs across India, Mexico and the US access to collateral-free credit.
Oracle wins trio of new clients in US, Vietnam, and Uzbekistan
Protego Trust Bank, InFinBank, and Toyota Financial Services all pick Oracle systems.
Sri Lanka rolls out new digital payment solution LANKAQR
Central bank-backed scheme facilitates digital payments to merchants and service providers using QR codes.
Indian tax fintech Clear secures $75m to capitalise on country’s digitisation
The e-filing company will also broaden its offering to people and businesses.
Groww valued at $3bn following $251m Series E round
Groww will use the cash to expand its reach into underserved parts of India.
Stripe acquires Indian accounting software firm Recko
The acquisition reflects a broader investment strategy in India, the fintech says.
Indian fintech start-up CRED secures $251m Series E funding
Fintech aims to incentivise members to pay credit card bills on time.
India’s M2P Fintech plots expansion following $35m raise
CEO says firm will also “double down” on growth in India and Dubai.
Indian SME neobank Open gains backing from Google in $100m Series C
Open raises $100 million to expand into new markets, including the US.
Debt platform CredAvenue raises $90m in Series A funding round
Significant investments in data science, machine learning, and AI are in the pipeline.
Amazon-backed Indian BNPL firm Capital Float raises $50m
The investment brings Capital Float’s total money raised to date to over $600m.
Colendi raises $30m in Series A and plans UK expansion
Turkish micro-lending platform expands to new markets.
Bahrain’s Bank ABC taps Fenergo for client management solution
Bank ABC operates across the Middle East, North Africa, Europe, the Americas and Asia.
Aussie BNPL firm Zip targets Indian expansion with ZestMoney investment
The investment underlines Zip’s strategy to capitalise on the high-growth Indian BNPL market.
Bhutan central bank partners with Ripple to pilot CBDC
The CBDC pilot with the South Asian country is designed to boost financial inclusion.
Zolve launches immigrant-focused banking products
The neobank’s new suite of products will help new arrivals to the US build credit.
Pine Labs secures $100m investment to fuel further growth
The Indian fintech has now raised $700 million this year.
Visa partners Indian paytech to push offline payments
Innoviti says it is committed to building a cashless India, driving financial inclusion across the country.
Major Indian banks launch Account Aggregator project
New programme aims to extend financial services to millions of new customers.
Exclusive: Oracle FS wins major core banking deal with Gulf Bank
The front-to-back operation is set to be a major undertaking.
DWG expands into Singapore with remittance app acquisition
Fintech says Singapore will act as a springboard for expansion into North America and Europe.
Prosus underlines Indian objectives with $4.7bn deal for BillDesk
Dutch e-commerce firm spends big to deepen footprint in India.
Reserve Bank of India plans CBDC trials by 2022
India’s central bank is still being “extremely careful” about its tests.
API fintech Alpaca secures $50m in funding
The stock brokerage platform also announced a new crypto offering and a partnership with Plaid.
Bookkeeping platform Khatabook raises $100m in Series C funding
The Indian firm provides tools for the country’s 67m small and medium-sized businesses.
Rainshine plans four media and entertainment fintechs
M&E fintechs will be launched in part using the company’s blockchain platform.
Wealth management start-up Smallcase raises $40m in Series C funding
The round included participation from e-commerce giant Amazon.
CoinDCX lands $90m Series C funding to become India’s first crypto unicorn
The round was led by Facebook co-founder Eduardo Saverin’s B Capital Group and returning investors.
GC Partners to boost Asian payments network with Nium collaboration
UK firm looks to strengthen its payment services offering in major Asian markets.
Indian challenger bank Jupiter lands $45m Series B funding co-led by Nubank
The start-up has now raised around $71 million in total.
Indian fintech BharatPe secures unicorn status with $370m Series E round
The company says the investment takes its valuation up to $2.85 billion.
New banking software deals for Oracle FS in Africa and India
Addis International Bank, Arab Commercial Bank, and OmniBSIC Bank are the new Flexcube takers.
Major Indian banks join trade finance blockchain project IBBIC
The consortium promises the creation of a secure environment for processing letters of credit.
