Tagged: fintech

Fintech: Digital Finance Platform Funding Societies Secures $27m in Debt

Funding Societies, also known as Modalku, Southeast Asia’s largest unified SME digital finance platform, has successfully secured $27 million in debt funding, led by private credit financier AlteriQ Global. Multi-family office Aument Capital Partners (ACP) and sustainability-focused fund Orange Bloom also contributed to this funding… Read More

Singapore: OCBC to Discontinue Pay Anyone App in October

Singapore multinational banking and financial services firm OCBC has announced that the OCBC Pay Anyone app will be retired in October, with the exact date to be confirmed soon. This is part of OCBC’s commitment to offer an enhanced app experience by integrating the features… Read More

Mintago Secures $4.75m to Propel Financial Wellbeing Solutions in UK

Financial wellbeing startup Mintago has announced raising $4.75 million in its latest funding round to augment its platform and expedite its expansion across the UK. Established in 2019 by former Perkbox co-founder, Chieu Cao, Mintago stands as a Financial Conduct Authority (FCA)-regulated company, rendering financial… Read More

Bangladesh: Nagad Nears Getting License to Operate Digital Bank

Nagad, a Mobile Financial Service (MFS) provider in Bangladesh, is on the verge of launching a digital bank. The company expects to receive its license from the Bangladesh Bank, the country’s central bank, in the coming months. Sadaf Roksana, co-founder and executive director of Nagad… Read More

Mesh Raises $22m to Boost Financial Operating System

Mesh, the financial operating system dedicated to seamless digital asset transfers and account aggregation, has announced raising $22 million in a Series A funding round, anchored by Money Forward Inc. The round was participated by a diverse group of new investors like Galaxy and Samsung… Read More

FV Bank Welcomes Jennifer Yaris Rodriguez as Senior Trust Officer

FV Bank, the U.S. licensed global digital bank that offers a vertically integrated suite of traditional and digital asset banking and custody services, this week appointed Jennifer Yaris Rodríguez as its senior trust officer. The move is effective immediately. As senior trust officer, Rodriguez will… Read More

Credit Cards in Circulation in Hong Kong Reach 19.71 Million

The Hong Kong Monetary Authority (HKMA), the city’s central bank, has released its Q2/2023 payment card statistics, revealing that the total number of credit cards in circulation in Hong Kong reached 19.71 million by the end of the second quarter. This indicates a marginal growth… Read More

Digital Payment Startup Hyperjar Secures $24m in Series A Funding

London-based fintech firm Hyperjar, celebrated for its digital payment solutions and personalized rewards system, has announced raising $24 million in a Series A funding round backed by Susquehanna Private Equity Investments and the Healthcare of Ontario Pension Plan. Having its roots in 2016 and officially… Read More

ASEAN QR Code Innovation Seen to Boost Cross-border Payments, Expand MSME Market Reach

The recently introduced ASEAN QR Code innovation promises to open up a broader market for micro, small, and medium enterprises (MSMEs) by facilitating seamless cross-border payments, Pandu Sjahrir, the legacy lead of ASEAN QR Code, told Indonesia’s news agency ANTARA. This integration offers a platform… Read More

Abu Dhabi Strengthens Position as a Fintech, Financial Hub with Stellar Growth in 2023

ADGM (Abu Dhabi Global Market), the International Financial Centre in the UAE’s capital, has showcased impressive growth during the first half of 2023, solidifying Abu Dhabi’s position as a ‘falcon economy’ and a predominant financial powerhouse in the GCC region. The number of investment firms… Read More

Indonesia Pushes for Expansion of ASEAN’s Local Currency Transaction Network

Under its chairmanship of ASEAN this year, Indonesia is placing a strong emphasis on the expansion and enhancement of the region’s local currency transaction (LCT) network. The move is aimed at fortifying trade and investment, streamlining cross-border payments, and advancing financial asset substitutability. Iss Savitri… Read More

Fintech: IFC Commits to Fostering Financial Inclusion through Digital Services in Nepal

International Finance Corporation (IFC), a member of the World Bank Group, and Nepal Rastra Bank (NRB) formalized an agreement to strengthen the fintech ecosystem in Nepal, focusing on increasing the adoption of electronic payments and fostering innovation in digital financial services. This collaboration is part… Read More

ACE Money Transfer Partners with Bank Alfalah to Facilitate Remittances to Pakistan

ACE Money Transfer, a fintech company based in Manchester, United Kingdom, has reinforced its longstanding partnership with Bank Alfalah, one of Pakistan’s commercial banks, to facilitate seamless remittance transactions for overseas Pakistanis. The collaboration was proudly announced along with Babar Azam, the Pakistan National Cricket… Read More

Financial Technology Collaboration: Philippines Signs MoU with Indian Government to Enhance Cooperation in Fintech

Finance Secretary Benjamin E. Diokno and Ambassador of India to the Philippines Shambhu Santha Kumaran signed a memorandum of understanding (MOU) on June 19, 2023 at the Department of Finance (DOF) office in Manila “to enhance cooperation between the Philippines and India in the field… Read More

Fitch Takes Neutral Stance on Fintech in 2023

Fitch Ratings has posted a comment on the Fintech market, taking a neutral stance on innovative financial services firms for 2023. Fitch predicted continued revenue growth for North American and European Fintechs in 2023, but at a slower pace than in recent years. As one… Read More

Infinity Ventures Announces $158M Fintech, e-Commerce Venture Fund

Infinity Ventures, an early-stage venture firm investing in founders building across fintech infrastructure and commerce enablement, today announced its inaugural $158 million fund. Since their first close in June 2021, Infinity Ventures has funded 11 companies. Infinity Ventures was co-founded by Jeremy Jonker, Jay Ganatra… Read More

NYU’s Stern School of Business to Start Fintech Master’s in 2023

New York University Stern School of Business this week launched a global, one-year, part-time Master of Science in Fintech Program. Its goal is to provide working professionals with the skills and knowledge to lead in the increasingly technological finance sector. The first class will start… Read More

Accelerator Fin+Tech Announces 16 Accepted Startups

Fin+Tech, an Italy-based acceleration program supporting startups in the Fintech and Insurtech space, has completed the selection of the 16 start-ups that will join the first cycle of the program, according to a public statement. The accelerator is part of the CDP National Accelerators Network,… Read More

Promise, a Fintech Focused on Consumer Government Debt, Names Jeff Press CRO

Promise, a technology platform that provides options for people to pay back their government debt and receive qualified aid, recently announced the appointment of Jeff Press as Chief Revenue Officer. In this role, Press will drive revenue, sales operations, strategic partnerships, and growth initiatives for… Read More

PayNet Celebrates Accelerator Program, Targets Payments Sector

Payments Network Malaysia (PayNet) has launched the Fintech ePayment Accelerator Programme, an initiative that aims to support and advance startups focused on the digital payments sector in and around Malaysia. The three-month initiative focuses on ideas and solutions that can help accelerate the adoption of… Read More

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