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A $50 million investment will help Egyptian digital payments company Paymob expand into new markets in both the Middle East and Africa. The round was led by Kora Capital, PayPal Ventures, and Clay Point, and represents the largest ever Series B round in Egyptian fintech history. “Central Bank of Egypt initiatives that are continuously being Read more…
There’s more to fintech innovation in Mexico than remittances. But this week’s fintech headlines from America’s nearest neighbor to the south have reminded of the major role that money transfer services play in the financial services landscape of nations like Mexico. Late this week, Western Union announced that it was teaming up with Pagaphone SmartPay Read more…
Earned wage access (EWA) has seen rising popularity in the past couple of years. These tools, which help businesses send their employees wages as they earn them, instead of on a bi-weekly basis, benefit both businesses and their employees. In today’s era of the Great Resignation, businesses across all sectors are struggling with employee retention. Read more…
As more and more fintechs add their support to the people of Ukraine and create new pathways for individuals and organizations to contribute financially, the Ukrainian government has had to adapt in order to make some of these contributions not just possible, but legal. This week, Ukrainian president Volodymyr Zelenskyy, signed month-old legislation to provide Read more…
Historic news out of the Middle East leads off our international fintech coverage this week on Finovate Global. Israel’s AI-powered transaction monitoring innovator ThetaRay has been selected by the UAE’s Mashreq Bank to help ensure secure cross-border transfers for its correspondent banking business. The partnership marks the first time that an Israel-based fintech company has Read more…
According to a report from Medici, nearly 168 million people in the MENA region (Middle East and Northern Africa) do not have a bank account. In this environment, opportunities for both traditional financial institutions and new entrants are numerous. In some instances, financial services companies have launched their own digital banking portals in order to Read more…
A $260 million Series F funding round has given Brazilian secured lending platform Creditas a valuation of $4.8 billion. The new capital will help the company expand its operations and provide a “one-stop solution for those seeking a digital-first experience in everything related to their houses, cars, motorcycles, and salary-based benefits.” The round was led Read more…
Latin American payments company EBANX is doubling down on its commitment to its business in Mexico, opening its first office in Mexico City and introducing a range of solutions designed to help Mexican companies offer new payment experiences for their customers in-country. These solutions include credit and debit cards, installments, OXXO and OXXOPay, SPEI, and Read more…
The news is flying a bit under the radar. But from China to Bahrain to Jamaica, central banks are beginning 2022 having made major moves recently in support of digital assets. We covered China’s CBDC announcement earlier this week. In short, the People’s Bank of China, the country’s central bank, made its digital yuan wallet Read more…
Norway-based biometric startup Mobai won $3.16 million (EUR 2.8 million) in funding to enhance the protection of personal biometric data in coalition with Vipps BankID, Sparebank1 Østlandet, KU Leuven, and NTNU. The project, named SALT for “Secure privacy preserving Authentication using faciaL biometrics to proTect your identity,” will bring new functionalities to Mobai’s facial recognition Read more…
With plans to launch initially in Mexico before expanding to Colombia and Central America, fintech startup Jefa is out to do what even the most innovative challenger banks have so far failed to do: bring better financial opportunities to women in Latin America. Company CEO and founder Emma Sanchez Andrade Smith highlights the fact that Read more…
This week’s Finovate Global List Series feature takes a look at the roster of Southeastern Asia-based technology unicorns compiled by Credit Suisse’s ASEAN research team in a recent report to see how many of these 35 billion-plus valuation companies are fintech firms. “The number of unicorns in ASEAN has continued to increase over the last Read more…