Tagged: financial inclusion

October 26, 2021 @ 9:07 am By Omar Faridi  |  

The Stellar Development Foundation (SDF) reveals that Flutterwave, an international payments tech firm, has introduced new remittance corridors between Europe and the MENA region on the Stellar network. Working with TEMPO, Flutterwave is focused on leveraging the Stellar network and Stellar USDC to simplify the… Read More

October 25, 2021 @ 9:46 pm By Omar Faridi  |  

Fintech Galaxy, the UAE-headquartered open innovation platform, has acquired $2 million in seed funding in order to further enhance the development and rollout of its Open Finance platform, as it looks to further expand its reach and support financial inclusion across the MENA region. Fintech… Read More

October 22, 2021 @ 9:18 am By Omar Faridi  |  

Payment solutions provider Mastercard (NYSE: MA) has entered into a partnership agreement with Demica in order to introduce a supply chain finance capability within Track Business Payment Service (Track BPS). This should enable improved access to “flexible working capital for buyers and suppliers.” As mentioned… Read More

October 11, 2021 @ 10:42 pm By Omar Faridi  |  

Mastercard (NYSE: MA) and Citi (NYSE: C) have formed a new partnership in order to support local residents and small businesses via greater public-private sector collaboration. Through City Possible, Mastercard’s partnership and co-creation framework for cities, the two international firms will aim to “bring their… Read More

October 11, 2021 @ 10:26 pm By Omar Faridi  |  

PT Bank Jago Tbk recently announced that Ribbit Capital, which is one of the leading Fintech investors whose investments includes Tinkoff, Revolut, BharatPe, Robinhood, Affirm, Nubank, Coinbase and Credit Karma, has made an investment in Bank Jago, an Indonesia-listed tech -based bank with “a drive… Read More

October 1, 2021 @ 8:10 am By Omar Faridi  |  

COTI is pleased to confirm that its Visa debit cards and bank account are accessible to the public. With assistance from Simplex, both of these financial tools should help with addressing “economic inequality.” As noted in an update shared with Crowdfund Insider, COTI aims to… Read More

September 29, 2021 @ 12:50 am By Omar Faridi  |  

The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, and the payment systems sector are preparing to introduce various initiatives that are set to promote payments digitalization and financial inclusion in the Southeast Asian nation. Benjamin E. Diokni, BSP Governor, stated (during… Read More

September 26, 2021 @ 5:23 pm By Omar Faridi  |  

Rizal Commercial Banking Corporation’s (RCBC) financial inclusion app DiskarTech has managed to process gross transaction value of over P11.8 billion (appr. $230M) just a year after its launch (in July 2020). As mentioned in the announcement, this total transaction value includes money transfers performed via… Read More

September 23, 2021 @ 9:30 am By Omar Faridi  |  

eToro, a multi-asset investment platform that empowers consumers to grow their knowledge and wealth as part of a global community of investors, reveals that it’s “reinforcing its commitment to opening the digital economy to the next billion global crypto users.” eToro confirmed in a release… Read More

September 20, 2021 @ 8:37 pm By Omar Faridi  |  

Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, and the Agence Française de Développement (AFD), the French Development Agency, have committed to a grant facility agreement of 700,000 Euros (appr. PHP 41.3 million) in order to support the Philippines’ financial inclusion efforts,… Read More

September 16, 2021 @ 2:03 pm By Tony Zerucha  |  

Grow Credit, a Black-owned financial inclusion platform, has raised a $106.3 million financing seed round, comprised of $6.3 million in equity financing from various investors and $100 million in debt financing from Arena Investors, LP, a $2.6 billion private investment fund. The round includes returning… Read More

September 16, 2021 @ 9:30 am By Omar Faridi  |  

dopay, a B2B2C payments platform that aims to serve 1.7 billion unbanked workers in emerging markets, has finalized an $18 million Series A round. As mentioned in a release, dopay intends to address a steady and growing demand from businesses for cashless payroll and from… Read More

September 12, 2021 @ 3:20 pm By Omar Faridi  |  

BlueOrchard Finance, a Switzerland-based impact investment manager, and the Asian Development Bank (ADB) have entered a $50 million risk-sharing agreement for microfinance coverage in ADB’s developing member countries (DMCs). The firm is reportedly the first impact investment manager to work closely with the ADB’s microfinance… Read More

September 11, 2021 @ 8:52 am By Omar Faridi  |  

Mogul Productions claims to be a “decentralized” platform working towards “democratizing” the film financing industry. In what they consider to be a new concept, Mogul aims to bring decentralized finance (DeFi) and non-fungible tokens or NFTs as the “focal point” for the traditional movie industry…. Read More

September 9, 2021 @ 1:30 pm By Omar Faridi  |  

Crediverso, the Hispanic-owned personal finance products firm, reveals that it has introduced a bilingual platform and a financial products marketplace tool “to serve the 62M+ Hispanic consumers in the U.S., who are 2-3x more likely to be underbanked than the rest of the population,” according… Read More

September 8, 2021 @ 7:34 am By Omar Faridi  |  

Jeff App, the Latvian Fintech company offering a data-powered loan brokerage platform for unbanked or financially underserved consumers in Asia, has finalized a $1.5 million seed extension round, which was led by J12 Ventures. Jeff App has now secured a total of $2.5 million. Other… Read More

September 5, 2021 @ 11:15 am By Omar Faridi  |  

Rahul Chari, CTO and Co-Founder at PhonePe, one of India’s leading payments app providers, recently confirmed that they’ve onboarded 300 million users after launching operations around 5 years back. Chari writes in a blog post that they launched the PhonePe app on August 28, 2016… Read More

August 26, 2021 @ 11:17 pm By Omar Faridi  |  

This month in August 2021, five years after issuing their very first loan to an SME borrower in Singapore, the Validus team reports reaching a notable milestone of cumulatively having financed over SGD 1 billion in SME loans via the Validus marketplace. As they look… Read More

August 26, 2021 @ 8:41 am By Omar Faridi  |  

BNPL Pay, a “decentralized” lending protocol that “puts credit in the hands of those who need it the most (users without capital), says that it aims to address the problems presented by uncollateralized borrowing through their “novel” design of “a decentralized network of banking nodes.”… Read More

August 24, 2021 @ 10:43 pm By Omar Faridi  |  

HSBC Qatar has introduced mobile payments and collections services for its personal and corporate clients, as part of its ongoing investment into digitizing banking services. These recent updates will aim to enable greater financial inclusion for the unbanked sector and  visitors in Qatar, which is… Read More