Indian Fintech Firm Razorpay In Talks To Raise Up To $200M From GIC, And Others Fintech startup Razorpay is in talks with its existing investor Singapore’s sovereign investment fund GIC and others to raise US$150 million to US$200 million in a financing round that could see its valuation nearly double to US$2 billion in less than six months.
Alibaba-Backed Lender MYBank Is One Of First Privately Owned Banks To Join Digital Yuan Pilot Alibaba-backed online lender MYBank has joined the ranks of several state-owned commercial banks involved in China’s digital yuan pilot program, becoming one of the first privately owned banks to participate in a trial aimed at introducing a sovereign electronic currency system which is widely believed will revolutionize the country’s online payment industry.
Gojek-backed Insurtech Startup PasarPolis Secures $5M From World Bank’s IFC Indonesian insurtech firm PasarPolis said it has received US$5 million in equity financing from the International Finance Corporation (IFC), a part of the World Bank Group that focuses on accelerating financial inclusion in developing countries.
Malaysia's Navis Capital Invests In Singapore's Fintech Solutions Firm Moneythor Malaysia-based private equity firm Navis Capital Partners on Monday announced that it has completed an investment in Singapore-headquartered fintech solutions firm Moneythor Pte Ltd. The financial terms of the deal were not disclosed.
South Korea's Hanwha Leads $300M Round in Grab's Financial Services Arm Southeast Asian ride-hailing and food delivery giant Grab said on Thursday it has raised more than $300 million from investors led by South Korea’s Hanwha Asset Management Co. Ltd for its fast-growing financial services business.
PH Payments App Mynt Raises $175M From Bow Wave Capital, Nears Unicorn Status Mynt, the Philippine payments app backed by Jack Ma’s Ant Financial, has raised $175 million in fresh capital from US investment firm Bow Wave Capital Management and existing shareholders.The fresh funding gives Mynt, the fintech arm of Globe Telecom and operator of mobile wallet GCash, a post-money valuation of close to $1 billion, Globe said in a statement Friday.
India’s Digital Lending Landscape The Indian Lending landscape has undergone a dramatic shift over the past few years. The legacy systems and practices that were prominent in this space are disappearing and getting replaced with digital processes that are powered by data and AI. This transformation has been further accelerated by the arrival of COVID-19 and the social distancing norms put to counter it.