South Korean Unicorn Raises $64m; India Tops China in Fintech Deals
As Finovate goes increasingly global, so does our coverage of financial technology. Finovate Global: Fintech News from Around the World is our weekly look at fintech innovation in developing economies in Asia, Africa, the Middle East, Latin America, and Central and Eastern Europe.
- Nigerians in the U.S. are exploring opportunities to launch a Nigerian Federal Credit United Union.
- Kenya’s Wapi Capital partners with China-based mobile device maker Transsion to fund African fintech startups.
- Kenya’s Capital Markets Authority (CMA) admits three fintechs – Pezesha, Innova, and another remaining in stealth mode – to its new regulatory sandbox.
Central and Eastern Europe
- Latvian fintech Mintos tops €3 billion in loans financed.
- Looking for a cryptocurrency gig in Russia? Coin Rivet examines top options.
- Mobile operator Orange Poland partners with Ukraine’s PayUkraine to expand its money transfer business in the country.
Middle East and Northern Africa
- Abu Dhabi Commercial Bank (ADCB) announces partnership with Plug and Play and Abu Dhabi Global Market (ADGM).
- MenaFN investigates how Jordanian companies are supporting digital transformation in Iraq.
- Central Bank of Oman finalizes plans for national payment system in effort to support local fintech industry.
Central and Southern Asia
- CB Insights reports that the number of fintech deals in India topped those in China for the first time.
- Female-founded Pakistani venture capital firm, i2i Ventures, announces investment in Pakistani startup Mauqa Online.
- Indian online investment platform Scripbox acquires rival Upwardly.
Latin America and the Caribbean
- Zenus, a challenger bank based in Puerto Rico, gains U.S. banking license.
- Coindesk looks at how Mexico’s new fintech law may impact the cryptocurrency market.
- CapitalTech acquires Konsigue, a crowdfactoring startup based in Mexico.
- Toss, a South Korean P2P money transfer service, picks up $64 million in new funding.
- Fintech Singapore profiles alternative and micro lenders in Vietnam.
- Singapore’s Koku, a fintech that specializes in foreign exchange technology solutions, plans expansion into Indonesia.
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