Tagged: fintech adoption

August 27, 2024 @ 10:11 pm By Omar Faridi  |  

The PhonePe Group reported revenue of INR 5064 Cr for FY23-24 (fiscal year ending March 31, 2024) which represents 74% top-line growth from FY22-23 revenue of INR 2914 Cr. The Group also reported “an Adjusted Profit After Tax (i.e., PAT excluding ESOP costs) of INR… Read More

August 26, 2024 @ 10:26 pm By Omar Faridi  |  

State Street Global Advisors, Inc, the asset management business of State Street Corporation (NYSE: STT), announced a strategic investment in Raiz Invest Limited (ASX: RZI), an Australian Fintech platform that helps customers grow their wealth by helping them to save and invest. The parties have… Read More

August 25, 2024 @ 9:40 am By Omar Faridi  |  

The Bank of Israel announces the issuance of an identification code to a second global fintech company that has chosen to operate in Israel as “a participant in a controlled payment system” – Revolut Ltd. Participants in the Israeli payment systems are “identified using a… Read More

August 24, 2024 @ 7:46 pm By Omar Faridi  |  

PhonePe announced the launch of Credit Line on UPI on its platform. Consumers who avail credit lines from their banks “can now link these credit lines to UPI on PhonePe and seamlessly make merchant payments.” This feature enables consumers to “make purchases with ease across millions… Read More

August 22, 2024 @ 9:12 pm By Omar Faridi  |  

Stripe, a financial infrastructure platform for businesses, marked its 10th anniversary serving Australian businesses, marking the rapid growth in the country’s internet economy. At its annual conference, Stripe Tour Sydney, Stripe reinforced its commitment “to Australia by launching new solutions to support businesses’ growth, including… Read More

August 22, 2024 @ 11:33 am By Omar Faridi  |  

Revolut has noted that its secondary share sale provides liquidity “for employees, allowing them to realize their contribution” to the Fintech firm’s growth. As reported recently, the secondary share sale values Revolut at “a $45 billion valuation, cementing its position as the most valuable private… Read More

August 15, 2024 @ 8:45 am By Omar Faridi  |  

Thndr is said to be focused on opening investing accessibility in the MENA region with Alpaca. Thndr is an emerging force in MENA, who’s team is on “a mission to increase access to personal investing.” By opening access to the global markets for “a growing… Read More

August 13, 2024 @ 9:38 am By Omar Faridi  |  

KPMG has released two reports, Venture Pulse Q2’24 and Pulse of Fintech H1’24, which show that Ireland is following the global trend with investment up in the broader VC market, investment in fintech, is also up – “bucking the global trend.” 24 venture capital (VC)… Read More

August 13, 2024 @ 4:11 am By Omar Faridi  |  

Unit, the financial infrastructure platform that powers embedded finance, announced a strategic partnership with Lincoln Savings Bank (LSB). This collaboration will power LSB to expand its embedded finance offerings and “further cement its reputation as an innovative financial institution.” Founded in 1902, Lincoln Savings Bank… Read More

August 11, 2024 @ 7:24 pm By Omar Faridi  |  

Thunes explains that sending money across borders often presents significant challenges, particularly due to the lack of transparency around foreign exchange (FX) fees. Thunes noted in a blog post that often, consumers and businesses “don’t know how much local currency they are sending abroad.” Thunes… Read More

August 11, 2024 @ 4:21 pm By Omar Faridi  |  

TrueAccord notes that even with wage gains over the last several years, 40% of consumers say they “earn insufficient incomes and struggle to keep up with inflation and interest rates.” TrueAccord pointed out in a blog post that “with approximately 75% of low-income households reporting… Read More

August 6, 2024 @ 7:07 am By Omar Faridi  |  

In the world of fintech and accounting, some partnerships are built on shared vision and innovation. That’s the case with VEDA, a firm focused on tech accounting, and the innovative spend management platform at Payhawk. It started with a chance meeting. Danny from VEDA Accounting… Read More

August 2, 2024 @ 8:41 am By Omar Faridi  |  

Thredd, the global payments platform, reports both industry-wide growth in fintech-led digital payments and the renewal of its partnership with Zilch, the ad-subsidised payments network (ASPN). This trajectory, coupled with recent product and market expansion, reportedly “adds further momentum to Thredd’s leadership in modern payments… Read More

August 1, 2024 @ 11:47 am By Omar Faridi  |  

Payments platform Nium says it has boosted its local funding and collection capabilities to more than 40 countries and 15 currencies, with more to come. The move is described by the firm as making Nium one of the only providers “to offer a network this wide.”… Read More

July 30, 2024 @ 8:10 am By Omar Faridi  |  

AI Fintech Aveni.ai has announced one of the largest Series A investments in a Scottish business this year, amounting to £11 million. The investment is led by Puma Private Equity with participation “from Par Equity and financial services industry leaders: Lloyds Banking Group and Nationwide.”… Read More

July 29, 2024 @ 11:19 pm By Omar Faridi  |  

Bluechain, the EIS certified fintech transforming the payments and receivables process, claims it has capitalized on a steady 2023 with growth in 2024 across users, transaction volume and revenue. Off the back of 2023 and with rapid expansion plans, Bluechain has announced “an opening funding… Read More

July 29, 2024 @ 6:18 pm By Omar Faridi  |  

bunch, a Fintech seeking to private markets, has announced the closing of a $15.5 million Series A funding round. The funding was led by FinTech Collective, along with existing investors including, Cherry Ventures and Motive Ventures. Other investors in the round were Broadhaven Ventures and… Read More

July 28, 2024 @ 4:39 pm By Omar Faridi  |  

Tracxn, a global SaaS-based market intelligence platform, has released its Geo Semi-Annual Report: UK FinTech H1 2024. The report, based on Tracxn’s extensive database, “provides insights into the United Kingdom (UK) FinTech space.” The UK FinTech ecosystem was “the second highest globally in terms of… Read More

July 24, 2024 @ 11:00 am By Omar Faridi  |  

  We recently connected with Kelvin Tan, CEO of audax, a corporate venture backed by Standard Chartered Bank. Before transitioning to a full-time career as an entrepreneur, Kelvin held multiple roles at Standard Chartered Bank — from Transaction Banking to Retail Products and Payments to… Read More

July 12, 2024 @ 5:27 am By Omar Faridi  |  

Pakistan based Fintech firm Sadapay has reportedly laid off around 30% of its employees, which includes sevearl C-suite execs, according to an update shared by local sources. Sadapay claims that the layoffs were made due to cost-cutting measures and the decision was announced during a… Read More