Pine Labs raises $285m in venture funding to reach $3bn valuation
Merchant payments platform Pine Labs plans regional expansion.
Singapore
HSBC launches multi-currency business wallet to rival fintech providers
HSBC says businesses can “pay like a local”.
Google Pay dips toe in cross-border market with Western Union, Wise
India, Singapore, and the US to be first countries trialled for remittances switch.
HSBC on track to hire 1,000 wealth managers in Asia before year end
In 2020, the bank’s Asian business reported $12.8 billion in profits.
Video: pick of the week – new payments system in Singapore, Bank of Ireland tech hires
A top pick of stories from the world of finance and tech in bitesize video format, weekly.
Singapore pledges $32m to help regtechs take POCs to market
Welcome to “the Valley of the Valuable POCs”, says MAS chief fintech officer
São Paulo fintech brokerage Warren lands $55m led by Singapore’s GIC fund
The fintech intends to use the fresh capital to hire more employees.
JP Morgan, DBS Bank and Temasek to form new payments platform
The platform will start by facilitating flows between Singapore-based banks.
Currencycloud moves into Asia-Pacific with new Singapore office
Currencycloud’s Asia-Pacific transactions trebled last year.
Finder snaps up shuttered Singapore fintech GoBear
COVID-19 took a toll on GoBear’s capital reserves and certain financial products.
OCBC launches facial recognition at ATMs, region’s first
The biometric tool will be first used for account balance enquiries – piloted by eight ATMs.
Payfazz invests $30m in Xfers to form Fazz Financial Group
FFG aims to develop solutions for the underbanked in Southeast Asia.
Singapore’s central bank reviews BNPL regulation over debt fears
The MAS wants to ensure regulations are “risk-proportionate”.
Asia-Pacific fintechs Volopay and Microleap land funding
Singapore-based Volopay and Malaysia-based Microleap have raised $2.1 million and $3.3 million, respectively.
Fintech funding deals globally 18-24 January 2021
Featuring PPRO, iSTOX, Indy, Mercado Bitcoin, and Brigit.
Singapore’s iSTOX lands $50m from heavyweight Japanese backers
n the past decade, global private equity returned 13.2% on average.
Grab’s fintech arm lands $300m Series A
Grab Financial Group saw its total revenues jump up by more than 40% in 2020.
Fintech funding deals globally 4-10 January 2021
Featuring Grab, Mynt, Divvy, Mambu, and SimpleNexus.
Singapore and Thailand to link national payment systems in 2021
In Singapore, PayNow monthly transaction values have crossed the $3 billion mark.
Singapore issues digital bank licences to Grab, Ant & Sea
The regulator has issued four licences, rather than five.
Grab leads $100m investment in Indonesian e-wallet LinkAja
Singaporean fintech begins investment project in Indonesia.
Owner of Hong Kong robo-advisor Aqumon lands Alibaba-backed $30m
Aqumon offers B2C and B2B solutions.
Silent Eight lands $9m to help firms tackle money laundering
The start-up says it has doubled its valuation in just over a year.
Wirecard operations cease in Singapore, MAS slaps down more charges
Wirecard SG needs to return all customer funds within the next two weeks.
Emirates NBD deploys new payments hub with TCS Bancs
The UAE bank goes live on TCS Bancs after kicking off the project in 2019.
Grab in talks for $300-500m AIA & Prudential investment
The up-to-$500-million target is to be spread over a number of rounds.
Singapore fintech GoBear lays off 11% of workforce
The fintech landed $17 million in May,
Singapore’s cross-border transfer fintech Nium lands EMI in UK
Nium evolved from a consumer remittance service to a B2B offering.
Singapore fintech Atlantis enters India with challenger Neo
Atlantis believes market adoption in India will be particularly successful.
Singapore firm Razer reveals overseas digital bank plans
“With a digital bank, being more nimble, we want to build a global business”.
CredoLab raises $7m in Serie A funding
Singapore fintech plans product expansion with new funding.
Singapore’s MAS pours $182m into second fintech fund
Around half of the committed SGD 250m rolled over from the first FSTI scheme.
Grab launches micro-investment, third-party loan and BNPL offerings
The firm is further cementing itself in the financial services industry.
Singapore’s robo-advisor StashAway lands $16m led by Square Peg
The fintech last raised funding in July 2019.
AMTD Group teams with SME partners ahead of Singa Bank’s launch
AMTD is yet to land a licence to launch the bank.
DBS and Infor partner to offer SMEs digital trade financing
The partnership is one of a line of joint projects between Infor and DBS.
Singapore API firm Percipient raises $5m
The fintech plans to boost the deployment of its TWINNTM system.
Singapore FinTech Association launches new innovation lab
The Nexia InnoLab will connect start-ups with local businesses.
OCBC Bank connects to Singapore Government’s identity platform
SingPass enables users to connect to a wide range of platforms and government services.
MAS completes multi-currency blockchain testing
The blockchain network is jointly developed with JP Morgan and investment firm Temasek.
