Tagged: msmes

Southeast Asia’s Funding Societies, an Online Capital Formation Platform, Partners with Foodpanda, Helps Disburse RM1 Million in Financing

Southeast Asia-based Funding Societies, an established digital financing platform, has teamed up with Foodpanda in order to provide short-term online financing services for registered merchants (via Foodpanda’s network). Through the partnership, the companies have collectively disbursed RM1 million (appr. $240,000) in financing, which enables local… Read More

Malaysia Co-Investment Fund Makes RM165 Million Investment in Over 5,300 Equity Crowdfunding, P2P Initiatives

The Malaysia Co-Investment Fund (MyCIF) has reportedly made a co-investment of RM165 million (appr. $40.27 million) in 5,349 equity crowdfunding and peer-to-peer financing (P2P) initiatives, which aims to benefit 1,197 Malaysian MSMEs by the end of last year. Since its October 2019 launch, these Malaysia-based… Read More

Fintech Fairbanc, which Offers Credit to Southeast Asia’s Unbanked, Is Now Backed by Columbia Business School

Fairbanc, the Silicon Valley-based Fintech firm that provides credit to the unbanked or financially underserved in Southeast Asia, has received financial backing from Columbia Business School’s student-run impact fund, Microlumbia. According to a release, this financial backing has come shortly after an investment from 500… Read More

Indian Fintech U GRO Capital, an Online Lending Platform for SMEs, Reports Over $2 Million in Net Profit for Current FY

Indian Fintech U GRO Capital, an online lending platform for SMEs, has released its Q2 FY21 financial results and posted a (profit after tax) PAT of INR 17.2 Crores (appr. $2.28 million). The BSE (formerly called Bombay Stock Exchange) stock exchange-listed, technology-focused platform noted that… Read More

Around 55 to 75% of Loans Issued in India by 2025 Will be Through Digital Onboarding Processes, Fintech Exec Predicts

Online or digital onboarding for obtaining loans in India is expected to increase to 55-75% of the total credit disbursement by 2025, according to Akhil Handa, head of Fintech, partnerships and mobile banking and digital lending department, Bank of Baroda. Handa revealed that, between 2015… Read More

Digital Banking Competition in Southeast Asia Should Intensify as there’s been a Boom in Fintech Investments: Report

Southeast (SE) Asia is home to an unbanked population of around 290 million, according to a recent report from Fitch Ratings. Fintech solutions can enable more widespread financial inclusion, and could potentially increase the GDP of emerging markets by $3.7 trillion, according to an updated… Read More

Digital Transformation: Indonesia’s Bank BRI Focused on Leveraging Open Banking to Streamline Operations of MSMEs During COVID-19

PT Bank Rakyat Indonesia Tbk (Bank BRI), one of Indonesia’s largest financial institutions, is reportedly integrating three core ecosystems (market, digital, village), in order to accelerate the digital transformation of the country’s micro, small and medium enterprises (MSMEs) sector. Bank BRI is a 70% government-owned… Read More

$300 Billion Funding Gap for SMEs in Southeast Asia Is Critical because they Account for 42% of Region’s GDP: Report

Financing for SMEs is severely limited in certain regions of the world. Many different peer to peer (P2P) lending platforms have been launched in order to provide much-needed capital to small businesses. The SME Finance Forum reveals that 41% of formal micro, small and medium… Read More

Fintech Is Emerging as a “Crucial Means of Support” for MSMEs during COVID-19, According to the First Circle Growth Finance Team

Benedict Carandang and Lee-Anne Tobias from First Circle Growth Finance, a company that offers financing services to qualified SMEs in the Philippines that sell to other businesses or government agencies, note in a blog post published on the World Economic Forum’s (WEF) official website that… Read More

Indian Online Lender Lendingkart Secures Over $42 Million in Funding via Round Led by Bertelsmann India Investments, Others

India-based online lender Lendingkart Technologies has secured Rs 319 crore (appr. $42.16 million) in funding through a Series D investment round, which was led by existing investors Bertelsmann India Investments, Fullerton Financial Holdings, IndiaQuotient, and Sistema Asia Fund. LendingKart’s management said that the capital raised… Read More

SOLV, an Indian Online Lending Marketplace for SMEs, Recommends Taking Immediate Measures to Prevent Economic Downturn Due to Coronavirus

SOLV, an online marketplace that matches lenders and micro-, small and medium-sized MSME borrowers, has expressed concerns regarding the coronavirus (COVID-19) outbreak, which has resulted in economic uncertainty and instability. SOLV, which is a B2B platform backed by the Standard Chartered Bank, expects SMEs to… Read More

India’s Khatabook, a Fintech for SMEs, Teams Up with Former Indian Cricket Captain MS Dhoni

Khatabook, a business app that helps micro-, small and medium-sized enterprises (MSMEs)  with performing digital transactions, has revealed that it has entered a partnership with former Indian Cricket captain Mahendra Singh (MS) Dhoni. MS Dhoni, the World Cup-winning skipper, will make a strategic investment in… Read More

Ping An’s OneConnect Teams Up With UnionBank’s Fintech Subsidiary UBX to Create Blockchain-Enable Platform For MSMEs in the Philippines

OneConnect Financial Technology Co. Ltd. (OneConnect), an associate company of China’s insurance giant Ping An Group, announced on Monday it has formed a new partnership with UnionBank’s fintech subsidiary UBX to co-create a blockchain-enable platform for MSMEs in the Philippines. According to the duo, this new partnership… Read More

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