Back to Blog

Brazil’s NuBank Scores $400M; Poland Launches $737M Co-Investment Project

As Finovate goes increasingly global, so does our coverage of financial technology. Finovate Global: Fintech News from Around the World is our weekly look at fintech innovation in developing economies in Asia, Africa, the Middle East, Latin America, and Central and Eastern Europe.


  • CompareAsiaGroup picks up $20 million in Series B1 funding in round led by Experian.
  • Standard Chartered Bank’s eXcelerator innovation lab goes live in Shanghai.
  • Finish fintech PearlPay announces partnership with the Philippines’ Rural Bank.

Sub-Saharan Africa

  • Ghana’s Vice President Dr. Mahamudu Bawumia declares his country to be “the undisputed leader in Africa” in terms of innovation in payment services.
  • Oromia International Bank of Ethiopia goes live with core banking software from ICS Financial Systems.
  • Fintech Futures examines the challenger bank scene in South Africa.

Central and Eastern Europe

  • Piotr Jan Pietrzak of ING Bank Slaski looks at the fintech scene in Poland.
  • Romania open banking solution provider Finqware raises €180,000 in seed funding.
  • Poland introduces $737 million co-investment plan to attract private equity firms.

Middle East and Northern Africa

  • Bahrain-based cryptocurrency exchange Rain earns its license from the nation’s central bank, and announces a fundraising of $2.5 million.
  • Egypt’s MoneyFellows raises more than $1 million in pre Series A funding.
  • African payment gateway Innovate 1 Pay opens office in Dubai.

Central and Southern Asia

  • Indian SME lender Indifi raises $21 million in Series C funding.
  • Mashreq Global Services, a subsidiary of Mashreq Bank, teams up with Indian fintechs.
  • India’s biggest mobile payments company Paytm now boasts 10 million customers in Japan.

Latin America and the Caribbean

  • Brazil’s Nubank raises $400 million in funding in round led by TCV.
  • Argentina’s largest national private bank Banco Galicia integrates PFM technology from Strands.
  • Stripe opens office in Mexico City.

Top image designed by Freepik