Irish fintech sector sees record investment during pandemic
Although many sectors saw investment slow due to the Covid-19 pandemic, the Irish fintech industry saw a record period of activity.
Vietnam second among ASEAN members in attracting fintech funding
Vietnam’s fintech firms secured $410 million, or 36 percent of the global capital pouring into Southeast Asia between January and September, behind Singapore. The country’s share of regional venture capital funding devoted to fintech soared from just 0.4 percent in 2018, according to a report prepared by the United Overseas Bank (UOB), PwC and the Singapore Fintech Association (SFA). Singapore remained the top destination for regional fintech investment, with 51 percent, down from 53 percent in 2018, with Indonesia in third place with 12 percent, down from 37 percent last year. By the end of the third quarter this year, ASEAN had received $1.14 billion in funding for fintech firms, […]
MiddleGame Ventures announces $165m FinTech-focused fund
MiddleGame Ventures (MGV), a fintech-focused investment firm, announced today that it had raised a new fund targeting post-seed, series A and series B lead investments in Europe and North America. MGV’s Venture Fund I has achieved its first close, with a final close target size of $165MM. It will invest in and partner with B2B and B2B2C startups driving the transformation of financial services from analog to digital and from centralized to decentralized, with an emphasis on middleware and back office solutions. Its remit extends to enabling technologies such as RegTech, Digital Identities, “FinData” and crypto-enabled infrastructure across banking, asset management, insurance, payments, and capital markets. The Luxembourg Future Fund […]
India’s Paytm raises $1bn with SoftBank’s contribution
Indian financial technology giant Paytm has raised $1 billion in a new financing round led by U.S.-based global asset manager T Rowe Price and backed by existing investors Ant Financial, SoftBank Vision Fund and Discovery Capital, the company said Monday. The Series G funding round values Paytm at about $16 billion and comes as the company is set to start preparations for an initial public offering in the next 22-24 months. Ant Financial contributed $400 million, while SoftBank Vision Fund invested $200 million in the latest round. The financing sees Paytm outstripping fellow high-profile Asian startups such as Grab and Gojek in valuation and boosts the firm’s war chest to […]
The latest marker of Chinese interest in African fintech is a $120 million funding round for OPay
Chinese interest in African fintech has just stepped up another gear. OPay, the payments service operating in Nigeria, has raised $120 million in a Series B round led mainly by Chinese investors including familiar names like Sequoia China, IDG Capital and Source Code Capital. The round also included participation from Softbank Ventures Asia, Meituan-Dianping, DragonBall Capitak, GaoRong Capital and GSR Ventures. It’s the second major funding announcement by OPay this year and comes just five months after it raised $50 million back in July in a round also led by Chinese investors. OPay was incubated by Opera, the China-owned internet browser. OPay says the new funding will be deployed to […]
Indonesia study: P2P lenders create thousands of jobs, reduce poverty
Peer-to-peer (P2P) lending platforms have provided jobs for more than 362,000 Indonesians and reduced the poverty rate by 0.7 per cent – equal to 177,000 individuals – as they provide access to financing in cities and remote areas alike, a study said last week. The study was conducted by local think tank Institute for Development of Economics and Finance (Indef) and the Indonesian Fintech Lenders Association (Asosiasi Fintech Pendanaan Bersama Indonesia, AFPI). Speaking during the study’s launch in Jakarta, Indef researcher Izzudin al-Farras said: “P2P lending enables MSMEs [micro, small and medium-sized enterprises] to boost production and thus can directly impact the country’s gross domestic product [GDP],” P2P platforms have […]
Singapore FinTech startup M-DAQ wins Samsung’s backing
Singapore fintech startup M-DAQ Pte won the backing of Samsung Group’s venture capital fund in a bid to expand in South Korea and beyond. With Samsung’s investment in its pre-series D round, the company’s valuation will exceed S$500 million ($368 million), up from S$250 million in November 2015, according to Chief Executive Officer Richard Koh. M-DAQ didn’t disclose the amount of Samsung’s investment. “Samsung is a key investor who will be facilitating our strategic expansion in Korea within the Samsung ecosystem and externally as well,” according to a release by M-DAQ. To read more, please click on the link below… Source: Singapore FinTech Startup M-DAQ Wins Samsung’s Backing – Bloomberg
Tokyo-based WealthNavi raises $37.6m in Series D round
Tokyo-based WealthNavi, provider of Japan’s biggest financial robo-adviser service, has secured 4.1 billion yen ($37.6 million) in its Series D funding round backed by a fund launched by Sony Financial Ventures and Global Brain, according to an announcement. Other investors including UTokyo Innovation Platform, SMBC Venture Capital, Mizuho Bank, Opt Ventures, and Resona Capital also participated in the funding round that brings the total funding into WealthNavi to over $130 million, the company said. Established in 2015 by Kazuhisa Shibayama, WealthNavi offers a platform for asset managers to provide advice using risk management algorithm. The company has opened 240,000 accounts with assets under management of 180 billion yen ($1.6 billion). […]
