Tagged: fintech

Fintech: Blackstone Acquires Japan’s Sony Payment Services

Global investment firm Blackstone has announced a significant move in Japan’s financial technology (fintech) sector, with its private equity funds entering into a definitive agreement to acquire a majority stake in Sony Payment Services Inc. for an undisclosed amount. Blackstone will acquire Sony Payment from… Read More

Saudi Arabia: Fintech Savings Platform Hakbah Raises $5.1m in Series A Funding

Saudi Arabian fintech savings platform Hakbah has successfully raised $5.1 million in a Series A funding round, a substantial boost for the savings platform’s growth and innovation strategies. The round was anchored by venture capital firm VentureSouq and backed by new investors M-Capital and Bunat… Read More

Fintech: UAE Recognizes Pakistani Fintech ABHI as Emerging Company

The United Arab Emirates (UAE) Ministry of Economy and the Government Development has nominated ABHI, a Pakistani fintech operator, as one of the emerging companies contributing significantly to the nation’s economic sector. This recognition came as ABHI recently inked a deal with Visa Inc. and… Read More

Saudi Central Bank Announces New Regulatory Framework for BNPL Services

The Saudi Central Bank (SAMA) has officially introduced a set of rules aimed at regulating “Buy Now, Pay Later” (BNPL) services, marking a significant step in overseeing and controlling this rapidly growing sector. This development, as stated in a recent SAMA press release, is part… Read More

Warply, Mastercard Form Strategic Alliance to Boost Fintech in MENA Region

Warply, a rapidly expanding fintech innovator in the Middle East and North Africa (MENA) region, has announced a significant collaboration with global payments technology company Mastercard. This partnership, formalized through a memorandum of understanding (MoU), is set to propel digital transformation in key MENA markets,… Read More

Nigerian Audit Chiefs Urge Tighter Oversight of Fintech Sector

The Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN) has urged for tougher regulations in the fintech sector and the operations of Bureaux de Change. This call was made by ACAEBIN Chairman, Prince Akamadu, during the association’s 57th quarterly general meeting in Lagos…. Read More

India: Digital Loan Disbursements Surge, Reflecting Confidence in Fintech Lending

The online lending sector in India is witnessing a significant upswing, as highlighted in a recent report by the Fintech Association for Consumer Empowerment (FACE). The report details a notable annual growth of 39% in digital loan disbursement volumes and a 43% increase in value,… Read More

State Bank of Pakistan Launches Regulatory Sandbox for Fintech Sector

The State Bank of Pakistan (SBP) has launched a “regulatory sandbox” framework, issuing preliminary guidelines to foster innovation in the financial technology (Fintech) sector. This initiative, part of the central bank’s Vision 2028 strategy, aims to create a more collaborative regulatory environment for startups and… Read More

Japan: Revenue-Based Financing Platform Yoii Secures $5.5m in Funding

Tokyo-based fintech startup Yoii has announced raising $5.5 million in a Series A funding round anchored by Emellience Partners. The startup, which provides a revenue-based financing (RBF) platform, said the round was also backed by Itochu Technology Ventures, FFG Venture Business Partners, and five other… Read More

Fintech Firm Pontera Raises $60m in Latest Funding Round

Fintech firm Pontera has raised $60 million in a funding round led by ICONIQ Growth, bringing its total funding to $160 million, according to an announcement. This investment highlights Pontera’s commitment to improving retirement account management for the 85 million Americans with workplace retirement plans,… Read More

Philippines: Payments Giant GCash Partners with Agritech Mayani to Bridge Agri-Credit Gap

Philippine-based fintech superapp GCash has teamed up with agritech startup Mayani to provide local farmers and fisherfolk with access to a financial platform that will support their needs, according to an announcement. The two tech players teamed-up with a joint mandate to create the Philippines’… Read More

Digital Lending in the Philippines Forecast to Hit $488.8m This Year

The digital lending market in the Philippines is poised for a significant expansion, with expectations to grow by 45.4%, reaching $488.8 million this year, from just $336 million a year earlier. This forecast, as per the latest report by PayNEXT360, a research and consulting firm… Read More

Fintech and Payment Solutions Provider Verto Enters Kenya Via UBA Deal

Verto, a London-based fintech and payment solutions provider, has partnered with United Bank of Africa (UBA) to officially enter Kenya and the East Africa market, according to an announcement. The partnership marks a crucial step forward in providing enhanced financial transaction platforms for entrepreneurs, small… Read More

Fintech PayTabs Launches Prepaid Card Services in MENA

Paytabs, a payment solutions provider in the MENA region, announced the launch of PayTabs Issuance — secure prepaid card issuing solutions aimed at scaling business operations regionally. Abdulaziz Al Jouf, CEO and founder of PayTabs Group, emphasized the potential of the issuing market in the… Read More

Financial Services: Argentina’s Fintech Uala Launches No-Fee Credit Card

Buenos Aires-based fintech firm Uala has launched a no-fee credit card in Argentina, targeting the massive population of unbanked Argentines, according to a Bloomberg report. The company, which is backed by investors George Soros, Steve Cohen, and Tencent Holdings, is offering its no-fee credit card… Read More

Philippine Fintech to Thrive on ESG-Driven Investments: Report

The future of Philippine fintechs, which have basic characteristics centered around innovation and sustainability, will be driven in major part by investments that value environmental, social and governance (ESG) principles, analysis from consumer finance company Digido revealed. The global sustainability technology (SusTech) industry, characterized to… Read More

Fintech: Dubai 10X Initiative Propels City a Decade Ahead in Innovation

Dubai’s ambitious journey towards becoming a global leader in innovation and sustainability is gaining momentum, as highlighted by the emirate’s forward-thinking initiatives and investments in futuristic technologies. At the heart of this journey is the Dubai 2040 Urban Master Plan, aimed at making Dubai the… Read More

India: Fintech Innovator Scapia Raises $23m for Travel Payments

Scapia, an India-based fintech company focused on making travel more accessible, has successfully raised $23 million in its Series-A funding round. The round was led by Elevation Capital and 3STATE Ventures, with participation from existing investors Matrix Partners India and Tanglin Venture Partners. Scapia said… Read More

Indonesia: Central Bank Issues Ethical Guidelines on AI for Fintech

Indonesia’s central bank, the Financial Services Authority (OJK), has partnered with the country’s fintech associations to issue what it describes as ethical guidelines on artificial intelligence (AI) use in the context of the fintech industry. The guidelines were formulated in collaboration with four leading fintech… Read More

India: Micro-lender Arohan Financial To Expand Digital Lending Operations

India-based micro-lender Arohan Financial Services is reportedly planning to expand its digital lending operations as part of its overall goal of revolutionizing microfinance with digital push. Arohan said it will leverage its ‘Apna Arohan’ app for more efficient loan disbursements and improved repayment compliance. Launched… Read More

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