Kreditech Looks to India for Expansion; Mexico’s Klar Scores $57.5 Million in Funding

Join us in October as our annual Asia-Pacific fintech conference returns to Singapore! FinovateAsia is one of the best ways for fintech startups and innovative industry veterans from the region and around the world to showcase their latest technologies before an audience of C-level decision-makers, venture capitalists, all-star analysts, and more.

For information on how to participate in FinovateAsia as a demoing company, partner, or sponsor, send us an e-mail and we’ll tell you everything you need to know.

Asia-Pacific

  • Singapore’s United Overseas Bank (UOB) partners with proptech innovator SoReal to launch SME property valuation solution.
  • Bank of China and IBM announces plans to collaborate on digital transformation, customer experience enhancement, and other innovations in financial services.
  • North Korea announces plans to develop its own cryptocurrency.

Sub-Saharan Africa

  • United Bank of Africa (UBA) inks deal with U.S.-based fintech Ovamba Solutions.
  • FairMoney picks up nearly $11 million in funding to help build a new digital bank in Nigeria.
  • Angolan e-commerce platform Roque Online wins Seedstars Luanda pitch contest.

Central and Eastern Europe

  • Bulgaria’s third largest bank by assets, Fibank, teams up with Mastercard and Garmin to launch new pay watch.
  • Commerzbank announces plans to sell Polish subsidiary mBank.
  • Warsaw, Poland’s The First News profiles Neontri (formerly Braintri).
  • National Bank of Romania unveils new fintech innovation hub.

Middle East and Northern Africa

  • The first digital business bank in the UAE, E20, goes live after 18 months in development.
  • Fintech Abu Dhabi announces strategic partnership with UAE Banks Federation.
  • Turkey’s Takasbank introduces blockchain-based, gold-trading platform.

Central and Southern Asia

  • Courtesy of a partnership with Amazon and Financial Software and Systems, United Bank of India launches voice-powered banking.
  • Sri Lanka’s Sampath Bank introduces new virtual teller machines in the country’s capital city of Colombo.
  • German online lender Kreditech looks to expand operations in India in the wake of $22 million equity fundraising.

Latin America and the Caribbean

  • Mexican alternative credit and debit services provider Klar raises $57.5 million in funding.
  • Mastercard brings its Tap on Phone payment acceptance solution to Costa Rica.
  • Brazilian fintech Creditas looks to lure away British technology talent disenchanted by Brexit.

Top image designed by Freepik

Finovate Alumni News

Around the web

  • Cinchy earns finalist spot in 2019 Global Venture Challenge sponsored by Connecticut Innovations. See them demo their technology at FinovateFall 2019 this week!
  • Digital marketing firm DeepTarget and Access Softek extend partnership.
  • Warsaw, Poland’s The First News profiles Neontri (formerly Braintri).
  • ClickSWITCH appoints Eric Edwards as new Chief Revenue Officer.
  • BusinessCloud features Exate Technology and Wealthify in its look at 10 U.K. Female-Led Fintech Firms to Watch.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Braintri Rebrands as Neontri En Route to U.S. Debut

North Carolina is the location of the first U.S. sales office for mobile banking and payments solution provider Neontri. The company, which demoed its technology at FinovateFall 2017 as Braintri, added that its new business strategy will focus on proprietary B2B solutions developed by its internal R&D team. These solutions include the company’s mobile banking development platform, its core banking system offload engine, Biffee; and its white-label, Best of Show-winning, mobile payments and authorization solution, Jiffee.

Calling the U.S. expansion and rebranding, “the beginning of a new stage” in the company’s growth, Neontri CEO and co-founder Maciej Stepien elaborated on the fintech’s next steps. “After six years of dynamic business growth on our home market and the acquisition of iCompass, we now seek to gain a strong foothold abroad,” he said. “Our American Office is the first bridgehead on the road to realizing this goal. In the long term, we plan to expand to the U.K. and the Middle East.”

In locating their office in Raleigh, North Carolina, the company is seeking to leverage the city’s status as home to one of the largest and fastest growing technology and research hubs in the U.S. The proximity of Charlotte, a major financial center that is also experiencing significant growth, is another plus for the Warsaw, Poland-based company.

Founded in 2013, Neontri (as Braintri) announced earlier this year that IKO, the mobile app it co-developed for PKO Bank Polski, had won first place in a global ranking of mobile apps from British Retail Banker International. It was the second consecutive year the app had won the recognition. The company began the year with news that its insurance subscription platform, hiPRO Connector, was going live with Benefia, a division of Vienna Insurance Group.

Our sister publication Fintech Futures profiled Braintri over the summer, discussing how banks are exploring ways to leverage real-time data.

Finovate Alumni News

On Finovate.com

  • Trulioo Accepts Another $53 Million in Funding.
  • Braintri Rebrands as Neontri En Route to U.S. Debut.

Around the web

  • SpyCloud launches new automated tools to support checking and maintaining password security in Microsoft Active Directory.
  • Marketing Technology Insights interviews Arkose Labs VP of Marketing Vanita Pandey.
  • P2Binvestor wins Best Small Business Solution at the 2019 Best of FinXTech Awards.
  • Hired names Akamai a top 10 employer in Boston.
  • INETCO launches INETCO Insight 7, a payment fraud detection platform.
  • Ephesoft and Infor partner to demonstrate new cloud-based document capture solution.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.