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ID.me Secures $8.3 Million in New Funding

ID.me Secures $8.3 Million in New Funding
By David Penn Posted on
Categories: Funding, ID.me

McLean, Virginia-based digital identity network ID.me has boosted its total equity capital to more than $39 million after locking in an investment of $8.3 million this week. The new funding comes from a $12.5 million equity offering from the company, which featured the participation of 32 different investors.

ID.me has not provided any commentary on the investment, nor disclosed plans for how it will use the additional capital. The company’s previous fundraising was a $19 million Series B round in March 2017, according to Crunchbase.

The global public health crisis has put a spotlight on digital identity companies like ID.me. In March, the company announced the launch of a real-time collaboration workspace on messaging platform, Slack, to help health care providers share information about the coronavirus. In April, ID.me teamed up with DrFirst to make it easier for health care workers to verify their identities when using DrFirst’s mobile e-prescribing app, iPrescribe.

And in May, ID.me partnered with Shoes.com, enabling the company to accurately verify frontline healthcare workers as part of its program to provide them with discounts on footwear.

“As the U.S. enters its third month battling COVID-19, first responders and healthcare workers continue to soldier tremendous burdens and personal risks as they fight day-to-day on the frontlines of the pandemic,” ID.me founder and CEO Blake Hall said. “We are honored to play a role in the Step Up program and proudly support Shoes.com’s efforts to recognize these national heroes.”

A Finovate alum since 2014, ID.me most recently demonstrated its identity verification gateway at FinovateSpring in 2017. The company’s identity verification services – ranging from multi-factor authentication, document verification, and compliance monitoring, in addition to its identity gateway – are used by a wide variety of well-known organizations and institutions including USAA, NASA, Under Armor, and the United States Department of Treasury.

ID.me notes that it onboards 60,000 new users a day and has a total of 24 million users of its technology. Earlier this month, the company announced another partnership, this time working with LensDirect as part of their We See You, Heroes initiative to provide frontline health care workers and first responders with discounts on vision care products.

Photo by Andrea Piacquadio from Pexels

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Zopa Launches Digital Bank; The State of MENA Fintech

Zopa Launches Digital Bank; The State of MENA Fintech
By David Penn Posted on
Categories: Finovate Global, Zopa


U.K.-based peer-to-peer lender Zopa announced this week that it has been awarded a full U.K. banking license and will move forward with its plans to launch a digital bank.

The bank will offer the Zopa Fixed Term Savings Account, which features FSCS protection up to £85,000. Zopa plans to introduce a credit card later this year.

“Now more than ever the banking industry needs innovative, agile providers who work on behalf of customers,” Zopa CEO Jaidev Janardana said. “At a time when people want great value, fair financial services products, and simple, intuitive digital experience(s), Zopa offers consumers a compelling and credible alternative they can trust.”

Founded in 2005, and one of Finovate’s earliest alums, Zopa raised $182 million last December in preparation for bank launch announced this week. The company has secured a total of more than $464 million in funding since inception.

Village Capital is out with its State of Financial Health Startups report which looks at the areas of innovation with the “greatest potential to improve the wellbeing and inclusion of marginalized communities in MENA.”

The State of Financial Health Startups in MENA acknowledges the attention paid to areas of fintech such as digital payments and e-commerce. At the same time, the goal of the report is to focus on those ways that fintech can solve specific problems in the region, specifically the challenge of inequality.

The report highlighted six fields of fintech innovation that are mostly likely to meet this challenge, as well as 12 startups that are active in these areas. The fields were:

  • saving and wealth-building technology
  • employment tech
  • digital ID
  • financial literacy services
  • access to capital
  • alternative lending

The twelve featured startups were:

  • Rumman (Palestine)
  • SmartCrowd (UAE)
  • Kader (Jordan)
  • Khtwteen (Egypt)
  • Hawiyati (Jordan)
  • Valify Solutions (Egypt)
  • Finllect (UAE)
  • Merakido (Egypt)
  • Fawaterak (Egypt)
  • Fundbot (Lebanon)
  • Ciwa (Morocco)
  • Solfeh (Jordan)

The Catalyst Fund, supported by BFA Global, UK aid, JP Morgan Chase and Rockefeller Philanthropy Advisors, has announced its latest fintech cohort.

The Fund has accelerated 31 portfolio companies that have raised collectively more than $64 million in follow-on fundraising since inception. The Fund awards each of its portfolio companies $100,000 in grant capital, as well as venture-building support for six months, and one-on-one networking with investors and corporate leaders to help them scale their businesses. Of the companies making the cut were a number of fintechs including:

  • FlexFinance (Nigeria)
  • Paymenow (South Africa)
  • Mango Life (Mexico)
  • Graviti (Mexico)
  • KarmaLife (India)

“We believe we are facing a catalytic moment during which there is an opportunity to use technology to help low-income consumers and small businesses recover from the impact of COVID-19 and build greater financial resilience for the future,” Catalyst fund director Maelis Carraro said.

Here is our weekly look at fintech around the world.

Asia-Pacific

  • Malaysian recurring payments platform Curlec announces funding from 500 Startups.
  • Thai cashless solution provider for businesses SYNQA raises $80 million in Series C investment.
  • TechWireAsia looks at the impact of COVID-19 on Indonesia’s emerging fintech industry.

Sub-Saharan Africa

  • Nigerian fintech KiaKia goes live with its app that enables users to invest in the funding of secured personal and business loans.
  • Centbee, a fintech based in South Africa, adds the ability to purchase prepaid electricity, airtime, and data via a new feature on its BitcoinSF wallet.
  • GhanaWeb features Ghanaian cross-border, money transfer company FXKudi.

Central and Eastern Europe

  • Edenred, a French prepaid corporate services provider, launches Apple Pay mobile payments for digital meal vouchers in Romania.
  • Lithuania-based identity verification firm iDenfy partners with U.K. online banking platform Cashaa to help cryptocurrency investors in India avoid fraud.
  • Austria gains a new insurtech competitor as Hong Kong-based bolttech partners with local telcom Drei to bring the first non-insurance switch program to the country.

Middle East and Northern Africa

  • Egypt-based fintech MoneyFellows raises $4 million in Series A funding.
  • Global tech ecosystem, Hub71, teams up with Mashreq Bank and First Abu Dhabi Bank to help startups open bank accounts in the UAE.
  • Commercial Bank of Dubai and cross-border payment provider Thunes announce partnership, enhancing CBD’s ability to operate in countries such as India, the Philippines, Pakistan, and Bangladesh.

Central and Southern Asia

  • India-Based Slice raises $6 million for digital payments.
  • BharatPe, a QR code-based, merchant payments company based in India, enters the point of sale business with the launch of its Bharat Swipe PoS solution.
  • Alphabet’s growth equity arm, CapitalG, invests $28 million in India-based SME lender Aye Finance.

Latin America and the Caribbean

  • BBVA announces that its mobile banking platform GloMo will support Apple Watch users in Uruguay.
  • Mexican bank Banorte and on-demand delivery firm Rappi partner to launch a financial services company in Mexico.
  • Central Bank of Brazil suspends WhatsApp payments in the country, citing competitiveness concerns.

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Kids Love Cash: Insights from the COVID-19 Crisis

Kids Love Cash: Insights from the COVID-19 Crisis
By David Penn Posted on
Categories: Finovate Webinar, Fiserv, Speaker series, Webinars

If digital transformation is sweeping financial services – and this trend has been accelerated by the global public health crisis, as we are often told – then what’s up with the huge and enduring demand for cash?

“I certainly would have expected, if you’d asked me prior to COVID: would COVID put a big dent in cash? I would have said “absolutely” because not only are people not going out, it has a dirty connotation to it,” Fiserv Senior Vice President David Keenan said during the Q&A portion of his recent webinar presentation, Looking Under the Hood of Today’s Payments Ecosystem.

“And yet if you look at the data,” he added, “that’s not what’s happening.”

This was one of many fascinating takeaways from Keenan’s research on payment trends in the COVID-19 era. That research was presented this week in a webinar that also looked at the rise of digital enablement in financial services and the inevitable transition to real-time payments. Keenan’s presentation is now available for viewing on an on-demand basis.

Toward the end of his discussion, which explained how and why companies need to be able to provide “the right options at the right time to create a winning payment experience,” we asked the Fiserv SVP why he began his presentation, which featured insights on digital enablement and real-time payments, with a discussion on the importance and endurance of cash.

Keenan said the decision to start with cash was deliberate – and given the program’s theme of “safe, fast, convenient payments” it is perhaps easy to understand why. For all of cash’s drawbacks – including the fact that paper money increasingly is seen as “dirty” in an ever-more touchless world – Keenan showed research from the Federal Reserve indicating that cash remains a preferred payment method in the U.S. – only trailing debit. Moreover, for about 85% of those surveyed, cash usage over the past 12 months had remained the same, or increased.

But perhaps most interestingly, this data also revealed that cash’s most passionate champions are under the age of 25. And this preference for paper money does not take away from GenZ’s appreciation of debit, which is on par with 25-to-34 year old, 35-to-44 year old, and 45-to-54 year old cohorts. Nor was credit usage impacted by GenZ’s preference for cash; GenZ credit usage was comparable with both 25-to-34 year old and 35-to-44 year old age groups. The main difference between GenZ and other cohorts was in the use of electronic payments, where its usage was typically half that of other groups surveyed.

A further note on the enduring preference for cash: while cash usage patterns have returned to trend after a brief, coronavirus-induced drop in March, the amounts of cash being used – which began increasing in March – have remained elevated.

Keenan speculated that what might blunt these accelerating cash trends could be a major response to the coronavirus – such as a vaccine. He said, “as long as we’re living in this one-step-at-a-time, back-to-the-new-normal, we believe cash is going to be an important part (of payments).”

Photo by Karolina Grabowska from Pexels

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India-Based Slice Raises $6 Million for Digital Payments

India-Based Slice Raises $6 Million for Digital Payments
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news, Funding

Slice (fka SlicePay), a millennial-focused challenger bank headquartered in India, raised $6 million in a pre-Series B financing round. The investment brings the company’s total funding to $27.7 million in combined debt and equity.

Gunosy led the round. Also participating were EMVC, Kunal Shah, Better Capital, as well as existing investor Das Capital.

According to Slice Co-founder and CEO Rajan Bajaj, the company will use the funds to acquire new users. In fact, Slice hopes to add 500,000 new customers within the next year. This is double the company’s existing active user base of 250,000.

Slice will also use the new $6 million to increase its workforce and explore banking partnerships to release co-branded cards.

Unique to Slice is its underwriting model, which is a key element in a country where customers are burdened with limited or no credit files. To help users build their credit, Slice offers a card that comes with a pre-approved credit line that offers installment loans, enabling users to buy now and pay later.

Slice is one of only a handful of challenger banks in India. Others in the subsector, including PayTM, Google Pay, and Walmart’s PhonePe, are all very large players. However, Slice seems to be fairing well. The company has been profitable since last year. And the simple fact that it raised funds in today’s economic environment where VCs are reluctant to invest speaks volumes of its potential.

“We believe Slice has a sustainable advantage as it has decoded young credit users’ demands and has built a deep understanding of credit risk and low-cost distribution using technology,” said Gunosy Director Yuki Maniwa.

Photo by Hello I’m Nik 🎞 on Unsplash

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Mastering Digital Collaboration in the Financial Industry

Mastering Digital Collaboration in the Financial Industry
By Charlie Burgess Posted on
Categories: Accusoft, Finovate Fintech Halftime Review

Financial organizations are managing mass amounts of information on a daily basis. 

Whether it’s a loan application, credit approval, or new customer records, sharing documents securely is key for effective task completion and departmental collaboration. 

With a variety of document formats needed for each of these tasks, professionals must often switch from application to application to complete processes. Standard processes are often outdated and inefficient. 

Discover how financial organizations can streamline their workflows and collaborate more effectively within their current applications.

Read the Accusoft infographic to learn more.

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Mastercard to Acquire Finicity in $825 Million Deal

Mastercard to Acquire Finicity in $825 Million Deal
By David Penn Posted on
Categories: Finicity, MasterCard, Mergers & Acquisitions

For a year that began with Visa’s headline-making acquisition of Plaid, it seems almost poetic that near 2020’s midway mark, Mastercard would make a major fintech bid of its own.

The company has agreed to acquire Finicity, a real-time financial data and analytics provider and long-time Finovate alum, in a deal valued at nearly $1 billion. This figure represents a combination of the $825 million purchase price of the Salt Lake City, Utah fintech, as well as a potential earn-out for Finicity’s existing shareholders – subject to the company meeting certain performance targets.

“Since our founding, Nick Thomas and I have focused on developing industry-leading technology and building an organization that empowers consumers and organizations to better understand, manage, and use their financial data to improve their financial lives,” Finicity co-founder and CEO Steve Smith said. “Enabling people to access and control their data, while ensuring best practices to protect that data, will continue to drive tremendous innovation that increases financial literacy, inclusion, and health. This partnership with Mastercard helps us accelerate this mission globally.”

Mastercard President Michael Miebach cited open banking as one of the reasons for the company’s interest in Finicity. Referring to open banking as both a “growing global trend” and a “strategically important space,” Miebach praised Finicity’s ability to leverage open banking APIs to enable financial data and insights to streamline lending and mortgage processes, account-based payment initiation, and other PFM services. He also credited the company for its focus on the data rights of the consumer.

“(Finicity) shares our commitment to consumer-centric data practices, ensuring consumers have a say in how and where their information should be used,” Miebach said.

Founded in 2000, Finicity provides financial data APIs, credit decisioning tools, and financial wellness solutions that help financial institutions and fintechs better serve their customers. The company’s technology helps power solutions like Experian Boost and Rocket Mortgage from Quicken Loans. Named a Best Place to Work in Fintech by American Banker for the last three consecutive years, Finicity began 2020 partnering with SaaS-based marketing automation, CRM, and POS solution provider for banks and mortgage companies, Volly.

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Sallie Krawcheck’s Ellevest Launches Debit Card & Banking Services

Sallie Krawcheck’s Ellevest Launches Debit Card & Banking Services
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, Ellevest

Women-focused wealthtech firm Ellevest unveiled its newest offering today. The company, which was founded by former Merrill Lynch CEO and former Citigroup CFO Sallie Krawcheck, has expanded its online investing platform to launch banking services.

“At Ellevest, our mission is to get more money in the hands of women+ — because we know that everyone deserves the opportunity to build wealth, and that nothing bad happens when women have more money,” the company announced in a blog post. “Today, we’re launching the first-of-its-kind money membership designed to get more money in the hands of women+.”

The new banking services are available with an Ellevest membership, which ranges from $1 per month for the Essential plan to $5 per month for the Plus plan, and $9 per month for the Executive plan. All membership options include banking services, investing opportunities, and educational resources. Other services include personalized retirement recommendations and multi-goal investment accounts.

Ellevest’s fashion-forward debit card

Members can access two accounts– one for spending and one for saving. The checking account comes with a World Debit Mastercard connected to an FDIC-insured account. The accounts boast no hidden fees, no minimum balance requirements, no transfer fees, no overdraft fees, and ATM fee reimbursements.

In the competitive world of challenger banks, none of these features stand out. However, Ellevest has created a bit of a cult following with its women-focused approach and content generation. The company has 180,000 followers on Instagram, which is 10x the number of followers that BBVA-owned Simple has, and more than Revolut, Monzo, and N26.

Ellevest’s gender-filtered approach further differentiates it when it comes to investing. The company’s personalized investment portfolio “includes a gender-aware investment algorithm that factors in important realities like pay gaps, career breaks, and average lifespans.”

Today’s announcement isn’t the first time a wealthtech platform has broadened its offerings to become a challenger bank. Betterment, Wealthfront, SoFi, M1 Finance, and Personal Capital all offer online-only checking accounts.

Ellevest was founded in 2014 and is headquartered in New York. The company has raised $77.6 million.

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MyLife’s Jeff Tinsley on Creating a “Reputation Score” and the Future of Personal Data

MyLife’s Jeff Tinsley on Creating a “Reputation Score” and the Future of Personal Data
By Charlie Burgess Posted on
Categories: CEO Interview, Finovate Fintech Halftime Review

It’s the FraudTech day of the Finovate Fintech Halftime Review, and we welcome Jeff Tinsley, CEO of MyLife to talk fraud management and prevention and how MyLife can be used by financial institutions to educate and add value for their consumers.

David Penn, our own Finovate Analyst, asks what sort of things go into creating a Reputation Score, and how MyLife protects people from fraud?

Watch the full interview.

Find out more about MyLife and get in touch with Tim ([email protected]) for any questions or partnership inquiries.

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nCino Readies for IPO

nCino Readies for IPO
By David Penn Posted on
Categories: Alumni News, IPO, nCino

Cloud banking specialist nCino is the latest fintech to announce its intention to go public.

In a brief statement shared on Monday, the Wilmington, North Carolina-based company reported that it had publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission for their proposed initial public offering. nCino made its Finovate debut at FinovateEurope in 2017.

The company’s announcement did not disclose the number of shares to be offered, nor the price range of the offering. Renaissance Capital reported that nCino is seeking to raise $100 million. The company expects to trade on the Nasdaq Global Select Market under the ticker “NCNO.”

Underwriting the IPO are Bank of America Securities, Barclays, KeyBanc Capital Markets, and SunTrust Robinson Humphrey.

nCino’s Bank Operating System, built on the Salesforce platform, provides financial institutions of all sizes with an end-to-end banking solution that enables them to deliver the kind of digital experience banking customers have come to expect. The platform combines customer relationship management, loan origination, workflow, enterprise content management, as well as business intelligence and reporting, all in a single, secure, cloud-based environment. On average, financial institutions using nCino’s Bank Operating System have enjoyed a 40% decrease in loan closing time, a 92% reduction in servicing costs, and a 127% increase in account opening completion rates.

Founded in 2012, nCino has raised more than $213 million in funding. The company reported revenue growth of almost 50%, reaching $44.7 million, for the quarter ending in April. nCino also reported revenue of $138.2 million in its most recent fiscal year, ending in January. This year, the company has forged partnerships with Alterna Bank, a subsidiary of Alterna Savings and Credit Union Limited, and with Swedish SME lender Yourban. Additional partnerships announced in the first half of the year include collaborations with Fulton Bank and Black Hills FCU. Pierre Naudé is President and Chief Executive Officer.

Photo courtesy of Les Finances

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From COVID-19 to Inclusion: Fintech Faces New Challenges

From COVID-19 to Inclusion: Fintech Faces New Challenges
By David Penn Posted on
Categories: David's column

In the middle of the first month of the year, one of the biggest names in the payments business acquired one of the most innovative fintech infrastructure companies in the industry, in a deal valued at more than $5 billion.

Six months later, Visa’s acquisition of Plaid almost seems like news from another time.

The arrival of the coronavirus to virtually every corner of the globe – and the worldwide response to the killing of a black man in police custody in the U.S. – have sent shock waves through the fintech industry – as they have the rest of the world. Now, at the same time, fintech is engaged in both the struggle to help businesses and consumers cope with the closures and shelter-in-place restrictions of the COVID-19 crisis, as well as the challenge of correcting decades of discriminatory practices against African Americans and members of other underrepresented ethnic groups. As we approach the middle of 2020, fintech is facing different kind of crisis that, while not of its own making, will require a response that is uniquely tailored to the world it operates in.

This is a world that is both heavily technical, relying on the latest innovations in machine learning, artificial intelligence, and distributed ledger technology, while simultaneously pledging to bring the benefits of 21st century financial services to the underbanked and underserved populations of both post-industrial and developing economies. This is a world that has grown tremendously through the contributions of people from diverse backgrounds, representing cultures from almost every corner of the globe. Yet, at the same time, it is a world that is still struggling to achieve true gender and ethnic diversity, particularly in the C-suite and in the boardroom.

There are many ways to value an industry: the quality of the goods it produces; the entertainment, education, or simple well-being its services provide; even just the degree of pure, gee-whiz innovation the industry may deliver, often seeming to grant us what we want even before we summon up the nerve to wish for it.

But as the fintech industry edges closer, inexorably, toward maturity, it now finds itself increasingly judged on the kind of criteria Corporate America – often to its own surprise and bewilderment – can find itself judged on from time to time. This is a judgement that has less to do with what Corporate America makes and sells, and more with who Corporate America is and what it values.

Both the global public health crisis and the renewed determination to fight racial inequality are providing fintech as an industry with an opportunity to show the world just what it’s made of. As we move into the second half of this historic year, I am hopeful and optimistic that fintech will rise to the challenge.

Photo by Suzy Hazelwood from Pexels

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ITSCREDIT’s João Lima Pinto on the Genie Advisor App and a New Direction for 2020

ITSCREDIT’s João Lima Pinto on the Genie Advisor App and a New Direction for 2020
By Charlie Burgess Posted on
Categories: Finovate Fintech Halftime Review

As part of our Finovate FinTech Halftime Review, Finovate Analyst David Penn sat down with João Lima Pinto, Chairman of ITSCREDIT. With nearly 20 years of solid experience in the financial sector, actively participating in the design and implementation of innovative omnichannel and credit solutions, Pinto has garnered much success by leading a variety of business development, product and project management, business analysis, and product operations functions.

Among the topics discussed include ITSCREDIT’S Genie Advisor app, how the company has seen the COVID-19 crisis impact its customer base, and its plan to address the challenges and move forward in 2020.

Watch the full interview now.

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Fear of Fraud Surrounds Wirecard’s Missing $2 Billion

Fear of Fraud Surrounds Wirecard’s Missing $2 Billion
By David Penn Posted on
Categories: Finovate Global

To speake of the woe that has befallen Wirecard …

The international fintech community received an unexpected jolt on Friday on news that the CEO of Wirecard, Markus Braun, was stepping down. Braun’s resignation comes amid reports that the German digital financial platform he has led since 2002 cannot account for $2.1 billion in cash, and a delay in the release of its 2019 financial report. Reuters reported that the company admits it could be have been “the victim of fraud of considerable proportions.”

Up until recently Wirecard appeared poised for success as a leading European payment processor for both consumers and businesses. The company reported revenues of $2.2 billion in 2018 and, by the fall of that year, had reached a valuation of $26.9 billion.

But suspicious of the company deepened early last year. A Financial Times report in January alleging suspicious financial activity in Singapore, and the announcement of an official investigation by Singapore authorities a month later, tarnished Wirecard’s image despite the company’s denials. This was followed by claims of further questionable financial activity – this time in Ireland – in October.

In this week’s news, auditors at EY, formerly known as Ernst & Young, were not able to locate cash at two Asian banks – Bank of the Philippine Islands and BDO Unibank – where Wirecard said $2 billion had been deposited. Both banks have denied having a business relationship with Wirecard. Moreover, documents indicating that such a relationship did exist, according to BDO, were falsified and bore forged signatures.

In a statement, Wirecard announced that James Freis, who was recently appointed to the company’s management board, will serve as interim CEO. the Federal Financial Supervisory Authority, known as BaFin, is investigating.

Here is our weekly look at fintech around the world.

Latin America and the Caribbean

  • Brazil-based SME lender BizCapital raises $12 million in Series B funding to support development of new products.
  • Banco Sabadell partners with IBM to enhances its digital banking operations in Mexico.
  • Banco Safra, based in Brazil, to deploy ACI Worldwide’s UP Retail Payments solution and UP Framework.

Asia-Pacific

  • Vietnam Plus reports surge in contactless payments in Vietnam.
  • Crowdfund Insider investigates the rise of Sharia fintech in Indonesia.
  • Malaysian fintech Curlec, which helps businesses manage recurring payments and cash flow, secures investment from 500 Startups.

Sub-Saharan Africa

  • South African open banking startup – and FinovateAfrica alum – truID announces seed funding.
  • Nigeria’s Chipper Cash secures $13.8 million in Series A funding.
  • WapiPay, a fintech based in Kenya and Singapore that provides platform-to-platform integration for virtual and global accounts, raises seed funding via accelerator network FutureHub.

Central and Eastern Europe

  • Estonia’s Planet42 announces $2.4 million seed round led by Change Ventures. The company helps facilitate automobile access for the underbanked in South Africa.
  • Russia’s Tinkoff teams up with online marketplace goods.ru.
  • Boku acquires Estonia-based mobile payments company Fortumo in deal valued at $45 million.

Middle East and Northern Africa

  • UAE-based Buy Now Pay Later e-commerce company Postpay introduces a trio of new installment payment options.
  • The Fintech Times takes a look at the state of the fintech and financial services industry in Lebanon.
  • Tpay Mobile, based in Dubai, acquires Turkish payments company Payguru.

Central and Southern Asia

  • Cryptocurrency exchange Binance joins the Indian Tech Association.
  • Kaspi, an e-commerce banking app based in Kazakhstan, to expand to Azerbaijan and other neighboring countries.
  • India Infoline launches #IIFLDisrupt, an initiative to help early-stage Indian fintechs during the COVID-19 crisis.
  • India-based Buy Now Pay Later company Tabby raises $7 million in funding to support expansion into Saudi Arabia.

Photo by Alisha Lubben from Pexels

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