IFGS 2023: Collaboration key for Singapore’s burgeoning fintech sector
Sopnendu Mohanty, chief fintech officer at MAS, discussed the country’s strategies and successes at IFGS 2023.
India
PhonePe’s funding spree continues as it raises another $100m
PhonePe has received the new funding from returning investor General Atlantic.
Navan acquires Indian travel expense management firm Tripeur
The agreement marks Navan’s fifth acquisition in the last two years.
DMI Finance bags $400m equity funding led by MUFG
Also taking part in the round was existing investor Sumitomo Mitsui Trust Bank.
India’s PhonePe calls off acquisition of BNPL firm ZestMoney
PhonePe was in talks to acquire ZestMoney for around $200 million to $300 million according to reports.
Indian lendtech Stashfin secures $100m in debt funding
The latest funding follows the company’s $270 million Series C round held in June last year.
India’s PhonePe secures additional $200m from Walmart
The fresh funding forms part of PhonePe’s ongoing fundraise of up to $1 billion in capital.
Central banks of UAE and India partner for cross-border CBDC testing
The central banks will conduct joint proof of concept and pilots of bilateral CBDC cross-border transactions.
Apexx Global bags $25m in Series B funding round
With the new funds, Apexx Global plans to expand further across North America.
RBI fines Amazon Pay’s India unit $374,000
The central bank claims Amazon Pay India didn’t comply with “certain provisions” of KYC and PPI directions.
Thought Machine plans to boost headcount by 20% in 2023
Thought Machine intends to hire across India, Japan and South Africa for the first time.
Panamax expands global reach with Acute Informatics acquisition
Panamax’s CEO says the acquisition of India-based Acute is a “strategic move to expand our horizons”.
Indian telecom firm Airtel’s merger talks with Paytm reportedly fall through
Sources tell CNBC-TV18 that Paytm didn’t want to give up management control.
Indian SaaS fintech Mintoak bags $20m in Series A funding
PayPal Ventures led the funding round, with new and existing investors also participating.
Singapore and India link up PayNow and UPI for real-time cross-border payments
The MAS and RBI will use a scalable cloud-based infrastructure to manage future increases in remittance volumes.
Unity Small Finance Bank taps M2P for core banking upgrade
The Indian bank will deploy M2P’s Turing CBS offering.
New “cross-border neobank” in India: moneyHOP
FinTech Futures sits down for a chat with Mayank Goyal, founder and CEO of moneyHOP.
India’s PhonePe nets additional $100m in ongoing fundraise
The new capital infusion follows a $350 million fundraise from General Atlantic last month.
Oracle Flexcube core banking system gains new takers
The banking tech vendor also signed licence fees of $27.5 million in the latest quarter.
India’s PhonePe lands $350m from General Atlantic at $12bn valuation
PhonePe expects to raise a total of $1 billion in funding, with other firms set to invest next month.
Indian government set to spend $320m to boost adoption of digital payments
The government hopes its plan will facilitate the development of “a robust digital payment ecosystem”.
How Drip Capital is simplifying trade financing for SMBs in emerging markets
FinTech Futures chats with Pushkar Mukewar, founder and CEO of Indian fintech Drip Capital.
Tide names Meta’s Vinay Ramani as new chief product officer
Ramani says he is joining Tide at a “critical juncture in its plans to globalise”.
Axis Bank taps Open to launch digital current accounts for businesses
Axis Bank says its new product will help save customers time and effort with a fully digital authentication process.
Indian neobank Jupiter lands $12m in venture debt financing
Jupiter says the funds will go towards scaling up the neobank’s suite of lending products.
KreditBee extends Series D funding round with additional $100m
The news follows KreditBee’s $80 million fundraise as part of its Series D funding round last month.
BharatPe CEO Suhail Sameer steps down
In a statement, BharatPe says that Sameer will “transition” from CEO to strategic advisor on 7 January 2023.
Indian fintech start-up SarvaGram bags $35m Series C funding
Founded in 2018, SarvaGram last raised $10 million in a Series B funding round in 2021.
Money View secures $75m Series E funding at $900m valuation
The round was led by Apis Partners, and saw participation from Tiger Global, Winter Capital and Evolvence.
JP Morgan invests in Indian paytech ISG, buys stake in Viva Wallet
JP Morgan is aiming to enhance digital transactions for its corporate clients in APAC and Europe.
Indian lendtech KreditBee bags $80m in Series D funding round
KreditBee says it will use the fresh funds to diversify its product offering and strengthen its tech stack.
India’s Cred set to acquire SaaS start-up CreditVidya
Following the acquisition, Cred and CreditVidya will continue to operate independently.
SBM Bank India partners Open to launch fintech platform
Open CEO Anish Achuthan says the platform will democratise fintech and “redefine” the Indian business landscape.
HDFC Bank taps Flywire for digital educational payments experience
The integration will provide a fully digital checkout experience for Indian students to make transactions.
Indian lendtech start-up Lentra raises $60m in Series B round
The money will go towards Lentra’s international expansion and acquisitions.
Revolut India appoints Arjun Mehta as new CFO
Mehta will lead channel development, expense management and revenue planning for the company.
RBI launches pilot for digital rupee wholesale CBDC
The use case of this pilot is the “settlement of secondary market transactions in government securities”, RBI says.
Kotak Mahindra Bank taps Finastra for integrated corporate banking solution
The two firms have worked together, leveraging Finastra’s Unified Corporate Portal solution, since October 2021.
How Paycraft is helping ease urban mobility in India
We chat with Paycraft’s CEO Ambarish Parekh about what the company offers and its evolution over the years.
$4.7bn Prosus acquisition of India’s BillDesk falls through
The acquisition deal was originally announced back in August 2021.
