FinTech

Singapore-headquartered fintech firm UNOAsia Pte Ltd has raised $32.1 million in a pre-Series B round to propel its mission to reshape the future of banking in the Philippines. This funding round represents a blend of equity and debt, which augurs well for UNOAsia as it seeks to solidify UNO Digital Bank’s presence in the Philippines and to accelerate its…

Accel and Citi Ventures-backed Singapore fintech firm Xalts has on Tuesday announced its acquisition of Contour Network, owned by a consortium of global banks, to accelerate digitization in trade and supply chain finance.

The Social Security System of Philippines (SSS PH) and MYEG Philippines, Inc. (MYEG PH) have entered a groundbreaking partnership to enhance the payment experience for SSS PH members. With this strategic collaboration, SSS PH members will be able to enjoy a hassle-free and efficient online payment of loans and contributions.

Ayekart, an India-based agrifood fintech platform, has raised $6.5 million in a Series A round led by Omnivore, Siana Capital, and Unleash Capital Partners. With this capital infusion, Ayekart aims to expand its operations nationwide and cater to a larger audience of Farmer Producer Organizations (FPOs), food manufacturers, distributors, and retailers.

Global software giant Microsoft has joined forces with DoxAI, a venture of Australia’s Lakeba Group, and Perpetual Limited to provide financial services companies with access to cutting-edge technology that can help them grow and evolve.

Global investment in fintech sank to a five-year low of $113.7 billion across 4,547 deals in 2023 as investors pulled back from making large deals amid concerns about stubbornly high interest rates, conflicts in Ukraine and the Middle East, falling fintech valuations, and the parched exit environment, KPMG said Tuesday.

Singapore's fintech sector has witnessed an extraordinary surge in funding for artificial intelligence (AI) technologies, despite a global downturn in fintech investments, KPMG said Tuesday. The AI fintech funding in Singapore skyrocketed to an impressive $333.13 million in the second half of 2023, marking a significant 77 percent increase from the $148.08…

It was a challenging year for fintech investment in theAsia Pacific (ASPAC) region, as it sees its fintech investment fall more than 75 percent, KPMG said Tuesday. According to its Pulse of Fintech report, the region saw $10.8 billion in investment across 882 deals in 2023, compared to $51.3 billion across 1,537 deals in 2022.

Japanese information technology firm Reazon Holdings has announced the successful closing of its investment in VGrowth Development Co. Ltd. (Validus Vietnam), which is the Vietnamese subsidiary of Validus Investment Holdings Pte. Ltd. (Validus Group).

Nium, the Singapore-based real-time global payments firm, has received in principle approval from the Reserve Bank of India for two prestigious payment licenses – the Prepaid Payment Instrument (PPI) License and the Payment Aggregator (PA) License.