Amazon has signed an agreement to acquire Axio, a Bengaluru-based digital lending firm that provides credit access to underserved individuals and households across India. The acquisition, which awaits regulatory approval, is expected to bolster Amazon’s footprint in the rapidly growing digital lending market and strengthen… Read More
The combined market cap of the top 50 companies in the Asia-Pacific (APAC) region surged to $8.1 trillion in 2024, reflecting a “20.6% year-on-year increase.” This, according to a report from GlobalData. Tech firms reportedly led the charge, with the Taiwan Semiconductor Manufacturing Company and… Read More
Union Bank of India has reportedly introduced various accessibility features in its Central Bank Digital Currency (CBDC) app, now widely known as the Digital Rupee (e₹). As one of the first PSBs to provide this kind of inclusive functionality, Union Bank reaffirms its ongoing commitment… Read More
Sixteen years ago, Accel embarked on a journey to partner with founders across India—continuing the firm’s history of partnering with founders on a global scale. Accel is now announcing their eighth early-stage fund, a $650 million commitment to empower category-defining startups; companies that will “set… Read More
Right before of its planned initial public offering (IPO), Fintech company OfBusiness has unveiled the launch of Nexizo.AI. According to the announcement, this platform allows for the discovery of new opportunities, such as potential buyers, obtaining key market insights for more competitive intelligence as well… Read More
The initial public offering (IPO) market in the Asia-Pacific (APAC) region has demonstrated resilience in 2024, with a “sustained” upward trajectory despite a “high inflationary environment” and geopolitical tensions. This, according to a new research report. The APAC market witnessed a significant rise in IPO… Read More
Aditya Birla Capital Limited (ABCL) has announced a new milestone by becoming the first BFSI company to “go live” on all three core financial services – lending, insurance, and mutual fund investments, available on the Open Network for Digital Commerce (ONDC) platform. This latest development… Read More
BillMart Fintech and Eqaro Guarantees have teamed up to provide offer guarantee solutions intended to build more trust between lenders and businesses in the Indian trade finance sector. With this latest collab, Eqaro’s guarantee products will now be integrated into BillMart’s Fintech platform, the firms… Read More
The Indian government is set to introduce a comprehensive legislative framework aimed at curbing the rise of illegal lending applications, the New Indian Express reported. The Department of Financial Services under the Ministry of Finance has drafted a bill that imposes severe penalties on individuals… Read More
A total of 984 venture capital funding deals were announced in India during January-October 2024 which was a YoY improvement of 5.8% in deal volume. This, according to an update from GlobalData. Notably, the total disclosed funding value of these deals in India surged by… Read More
Although globally there has been positive moment for insurance technology platofrms, Insurtech funding has continued its downwards trend in certain regions. But APAC has been fairly resilient, according to a BCG report. As India aims for Viksit Bharat by 2047, a stable and resilient financial… Read More
Former President Donald Trump has delivered a crushing blow to Vice President Kamala Harris and the broader Democrat party. For the moment, there is a lot of introspection and finger-pointing as to how Trump could have won both the Electoral College and the popular… Read More
PitchBook has released its report, entitled Q4 2024 Exploring APAC’s Fintech Pathways: Part II: Southeast Asia. PitchBook has shared a deep dive into Southeast Asia’s fast-evolving fintech developments by navigating regional market nuances. According to the research study, the APAC region has many relatively strong… Read More
Revolut is reportedly preparing for a 2025 launch in India. Potentially targeting millions of India’s consumers in a vital test for the growth strategy of Europe’s most valuable Fintech, Revolut will aim to take advantage of establishing operations in one of the world’s fastest-growing economies. London-headquartered Revolut… Read More
The Reserve Bank of India (RBI) has announced tightened regulations for peer-to-peer (P2P) non-bank lending platforms, effective immediately, in response to some entities’ violations of the 2017 guidelines. The move aims to enhance transparency and ensure stricter compliance with regulatory standards, addressing concerns that certain… Read More
Shri Shaktikanta Das, Governor of the Reserve Bank of India, touched on multiple topics pertaining to Fintech at a global conference entitled Digital Public Infrastructure and Emerging Technologies. Digital Public Infrastructure (DPI) and Emerging Technologies are expected to shape the futures of all economies, said… Read More
A significant majority of consumers, 78%, in India now prefer to conduct their banking digitally through mobile apps or websites, according to a recent report by Alkami Technology. This shift underscores the broader move towards cashless transactions and contactless payments, trends that have accelerated significantly… Read More
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
Mitsubishi UFJ Financial Group, Inc. (MUFG) and its consolidated subsidiary, MUFG Bank, Ltd., announced a significant additional investment of INR 27,988 million (approximately $339 million) in DMI Finance Private Limited, a digital financial services provider based in India. This investment is part of MUFG’s ongoing… Read More
Adyen (ADYEN:AMS), the global payments platform of choice for many of the world’s leading companies, today announced its expansion in India, following the grant of authorization from the Reserve Bank of India to operate as an Online Payment Aggregator in India for domestic and cross-border… Read More
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