Fintech

The all-in-one fintech app Revolut has released its annual report for 2021. While 2021 ended more than a year ago, this report includes some significant figures as the company nearly tripled its revenue between 2020 and 2021. Because of this explosive growth trajectory, the company reached profitab

With global digital payments revenue expected to reach $14.79 trillion by 2027, payment infrastructure has arguably never been more critical. But at the same time the tech is becoming essential, the costs and complexities associated with it are increasing. One recent survey shows that merchantsR

CRED is rolling out a buy now and pay later service and a tap to pay feature as the Indian fintech platform broadens its offerings to boost engagement and monetization on the platform. Cred flash, the Bengaluru-headquartered startup's foray into the buy now and pay later category, will allow cu

The U.S. is now Swedish payment giant Klarna's biggest market by revenue, surpassing Germany, and that has CEO and co-founder Sebastian Siemiatkowski feeling proud. In an exclusive interview with technewss, Siemiatkowski shared that Klarna saw a 71% year-over-year increase in gross merchandise

India and Singapore have linked their digital payments systems, UPI and PayNow, to enable instant and low-cost fund transfers in a major push to disrupt the cross-border flow of money between the two nations that amounts to more than $1 billion each year. The linkage between the two systems went li

Getting a subscription service going and keeping it, complete with fulfillment and delivery, is complicated. Brands use technologies that can cause them to end up with double billing and delivery that the customer is then left to manage. Subscriptions are big business: The direct-to-consumer subscr

After working in Africa's microfinance space for seven years, including at Botswana's Letshego, Brian Dempsey took a break in 2020 to build Power Financial Wellness, operating out of Kenya. Dempsey said the launch of Power was informed by the trends he noticed in the micro-lending space, an

Aspire, the Singapore-based neobank that wants to become the financial operating system for SMEs, has raised an oversubscribed $100 million Series C round. Investors included Lightspeed and Sequoia Capital SEA, along with PayPal, Tencent, LGT Capital Partners and returning investors.  technewss l

When the economy was booming, the buy now, pay later space thrived. But as inflation and interest rates climbed, consumer-focused players in the space have struggled with increased defaults amid less discretionary spending. Citing economic turbulence, Affirm announced last week that it was reducing

India’s IT Ministry has lifted the ban on seven high-profile lending apps, including PayU’s LazyPay, Kissht, KreditBee and Indiabulls’ Home Loans, according to a person familiar with the matter, providing some relief to the fintech industry that has been reeling with immense scrut

Lunar, a neobank out of Denmark, last year raised money at a $2.2 billion valuation from a splashy set of investors that included Heartland, Kinnevik, Tencent, IDC Ventures and comedian Will Ferrell, to fill out its ambition to build a financial “super app.” Times being tough for startu

Citing economic turbulence, buy now, pay later giant Affirm announced today that it is reducing its staff by 19%, or about 500 employees, and shutting down its crypto unit. That leaves the company with about 2,000 employees. In a written statement, founder and CEO Max Levchin said t

Pipe, an alternative financing platform that was last privately valued by investors at $2 billion, has announced its new chief executive, an appointment that comes months after the company's three co-founders stepped down from their posts in a stunning, unusual shake-up. The new chief executive

Indians traveling to many foreign markets, including the UAE and Singapore, may soon be able to use the popular UPI payments to make purchases when they land there. Bengaluru-headquartered fintech giant PhonePe said on Tuesday that it's extending support for UPI international payments in the UA