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Southeast Asia’s super app Grab is moving even further into the payment solutions space this week. The company has more than doubled its stake in e-wallet app OVO. Grab’s stake in Bumi Cakrawala Perkasa, OVO’s parent company, has gone from 39% to 90%. Currently, the remaining 10% of OVO is split equally between two firms, Read more…
Pakistan-based Buy Now Pay Later platform QisstPay has secured $15 million in seed and pre-seed funding. The round was led by MSA Capital and featured institutional investment participation from Global Founders Capital, Fox Ventures, and First Check Ventures – as well as strategic angel investments from Scalapay co-founders Simone Mancini and Johnny Mitrevski. The capital, Read more…
Recent news headlines have underscored the long-standing relationship between fintechs in India and the UAE. This week, we learned that Indian payment solution provider PayMate has teamed up with both Visa and Citi to automate business payments in the UAE. The collaboration will involve both accounts payables and receivables, enabling institutions to benefit from end-to-end Read more…
For many, the economic inequality and low financial literacy that plague a country like South Africa are reasons to look elsewhere for fintech opportunities. But for New York-based Wahed, these same features are reason for not only optimism, but for investment and expansion. The company, parent firm of a leading halal financial investment platform, announced Read more…
Two of their respective regions’ most powerful economies are moving closer to the issuance of Central Bank Digital Currencies or CBDCs. In India, Reserve Bank of India deputy governor Shri T. Rabi Sanker said that the bank is working toward a “phased implementation strategy” that would further the country’s multi-year effort to transition its citizens Read more…
Barcelona, Spain-based Strands and Singapore’s credolab announced a partnership this week that will give banks a new solution to help their customers make better decisions with their finances. The collaboration will embed credolab’s credit scoring technology into Strands personal finance management platform, giving banks the real-time ability to obtain relevant customer insights with embedded risk Read more…
FinovateAsia 2021 is over. But we’re keeping the doors open and the lights on for a few more days to let those of you who attended our digital fintech conference last month to check out any of the keynote addresses and panel discussions that you might have missed. The platform will remain available to FinovateAsia Read more…
FinovateAsia Digital is in the books! A big thank you to our sponsors – DreamQuark, InterSystems, and CleverTap – our demoing companies – Amber, Crayon Data, Dreams, FinBit.io, QuickFi, and Strands – our speakers and, of course, our attendees. Your innovations and insights helped make our second, all-digital FinovateAsia conference a great success. What did Read more…
The fact that venture capital has been pouring into Latin America of late has been hard to ignore. This week’s news that Kredi, a Mexican company that hopes to become the “Rocket Mortgage” of Latin America, had raised $3.1 million in funding was a reminder that fintech funding in the region is as diverse as Read more…
This is a guest post from Adam Goulston, copywriter, editor, marketer, and researcher with Scize Group. Asia is the global leader in fintech, according to a survey of 27,000+ digitally active consumers in 27 markets. And in Asia, China and India are big leaders – over half their active adult consumers use fintech services regularly. Read more…
Two of the biggest news items in international fintech this week also reflect two of the biggest trends in the industry in recent years: interest-free retail financing and the rise of digital assets. With regard to the first, Stockholm, Sweden-based Klarna announced this week that it hauled in a whopping $639 million in new funding Read more…
It’s a good week to be a fintech in Latin America. Uruguay-based fintech dLocal made its Nasdaq debut, raising more than $617 million in an IPO that gave the firm a valuation of $6 billion. The company, founded five years ago, offers a payments platform that enhances the ability of global merchants to operate in Read more…