JP Morgan invests in Indian paytech ISG, buys stake in Viva Wallet
JP Morgan is aiming to enhance digital transactions for its corporate clients in APAC and Europe.
Asia
Indian lendtech KreditBee bags $80m in Series D funding round
KreditBee says it will use the fresh funds to diversify its product offering and strengthen its tech stack.
India’s Cred set to acquire SaaS start-up CreditVidya
Following the acquisition, Cred and CreditVidya will continue to operate independently.
SBM Bank India partners Open to launch fintech platform
Open CEO Anish Achuthan says the platform will democratise fintech and “redefine” the Indian business landscape.
HDFC Bank taps Flywire for digital educational payments experience
The integration will provide a fully digital checkout experience for Indian students to make transactions.
Indian lendtech start-up Lentra raises $60m in Series B round
The money will go towards Lentra’s international expansion and acquisitions.
Revolut India appoints Arjun Mehta as new CFO
Mehta will lead channel development, expense management and revenue planning for the company.
National Bank of Pakistan taps Finastra for trade finance solution
The bank will deploy Finastra’s end-to-end working capital solution, Fusion Trade Innovation.
RBI launches pilot for digital rupee wholesale CBDC
The use case of this pilot is the “settlement of secondary market transactions in government securities”, RBI says.
Prudential and Google Cloud team for health and financial inclusion in Asia and Africa
Prudential will leverage Google Cloud for its flagship health and wealth platform, Pulse.
State Bank of Pakistan stops fintech start-up Tag’s operations
The central bank says it has taken this decision to “protect the interest of the public at large”.
Kotak Mahindra Bank taps Finastra for integrated corporate banking solution
The two firms have worked together, leveraging Finastra’s Unified Corporate Portal solution, since October 2021.
Colendi secures $150m credit facility from Fibabanka
The firm aims to provide new loan and investment opportunities for the underbanked.
Two new fintech start-ups in Turkey – Lidsi and Turan
Lidsi is a savings app launching in January 2023, and Turan is an all-encompassing financial application.
How Paycraft is helping ease urban mobility in India
We chat with Paycraft’s CEO Ambarish Parekh about what the company offers and its evolution over the years.
$4.7bn Prosus acquisition of India’s BillDesk falls through
The acquisition deal was originally announced back in August 2021.
New challenger bank in India for young professionals – Shelf
Shelf was recently accepted into start-up accelerator Y Combinator’s Summer 2022 batch.
India’s Signzy raises $26m in Series B funding round
The funds will be used to further develop its platform and boost its international presence.
FairMoney taps banking tech vendor Oradian to power next growth phase
Oradian’s account, finance and investment offerings are tailored to the needs of rapidly developing markets.
Target Group makes new CEO and COO appointments
John Barker has been named as the firm’s new CEO, with Peter O’Connor taking on the role of COO.
ICYMI fintech funding round-up: Kippa, Payall, Trek Health and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Former Citi banking veteran joins leadership team of challenger bank Zolve
Freiberg was co-chairman and CEO of Citigroup’s global consumer group for three decades.
Allied Bank Pakistan picks BPC to launch SME acquiring business
Allied Bank will support merchant and business acquisitions and enable payments in-store, online and in-app.
India’s RBI gives financial firms deadline to comply with new digital lending rules
The RBI says that the new rules will be applicable to both existing and new customers.
Indian lendtech EarlySalary raises $110m Series D funding
EarlySalary will use the new funds to expand into new markets and increase its loan book.
Reserve Bank of India lifts onboarding restrictions on American Express
The RBI imposed restrictions on the US card issuer in May 2021, denying it the ability to onboard new customers.
Indian savings fintech Jar lands $22.6m in Series B funding
Jar claims to have racked up 10 million users since its launch last year.
Yes Bank taps IBSFintech to digitise services for corporate clients
The partnership aims to enable paperless communication across treasury and trade finance processes.
Indian wealthtech platform Dezerv bags $21m Series A
The new funding has raised the company’s valuation to $100 million.
South Asia fintech funding round-up: Twid, Jify, OneLoad and Bluecopa
A handy round-up of recent funding endeavours of fintech companies across India and Pakistan.
Private equity firms buy stake in India’s Yes Bank as part of $1.1bn capital raise
Carlyle Group and Advent International have both agreed to acquire up to a 10% stake in the bank.
Dbank gears up for launch in Pakistan, secures $17.6m seed funding
The investment round was co-led by Sequoia Southeast Asia and Kleiner Perkins.
Equity management firm Qapita buys India-based ESOP Direct
Qapita is aiming to boost its presence in India.
India’s M2P Fintech snaps up digital identity platform Syntizen
This is M2P Fintech’s third acquisition in 2022 alone.
Indian crypto exchange CoinDCX appoints Gaurav Arora as senior VP
In his new role, Arora will lead product, business and growth for the firm’s DeFi initiatives.
The Reserve Bank of India wants to ban crypto, says India’s finance minister
The RBI believes cryptocurrencies have a “destabilising” effect on a country’s monetary and fiscal stability.
SunTec hires ex-IBM exec as new chief strategy and transformation officer
Pramod Perumparambil will drive the company’s strategy to accelerate business growth.
New cross-border payments and digital banking platform KwikPaisa launches in India
The platform will allow users to make payments anywhere in the world.
Saleem Arshad appointed as new CTO for Revolut India
Arshad will help shape Revolut’s product offerings and technology for the Indian market.
Skilling initiatives pivotal for the growth of women nanopreneurs in rural India
Skilling initiatives can bring rural women in India into the financial system.
