Fintech

Reuben Lai, executive director at GXS Bank, is leaving the position at the end of this year. The news was first reported by Tech In Asia. Lai was head of Grab Financial Group until May 2022, and then executive director and head of regional strategy at GXS Bank, the digital bank joint venture betwee

You'd be forgiven for expecting public fintech companies that facilitate consumer trading to be under pressure this week. And yet, after reporting earnings, the share prices of two pandemic-era highfliers gained ground. Coinbase and Robinhood up? In this economy? Yes. Of the out-of-fashion tech

After trying for years to replicate the success of its QR code-enabled payments solution overseas, Ant Group seems to have finally found a path to scaling. Instead of going after end users, the Alibaba-affiliated fintech giant has been quietly forming partnerships with local payments providers in A

Opendoor is letting go of about 550 people, or 18% of the company, across all functions, its co-founder and CEO Eric Wu announced in a blog post today. The real estate technology company is one of many property technology (proptech) companies that have had to lay off workers in 2022. Online mortgag

Digital bank Chime confirmed today that it is laying off 12% of its workforce, or about 160 people. The Information first reported the news. According to an internal memo obtained by technewss, Chime co-founder Chris Britt described that the move was one of many that would help the company thrive

Retail investors entered the stock market in droves over the past couple of years. Much ink has already been spilled analyzing competition between fintech companies such as Robinhood and Public.com to capture these new customers. But there’s another implication of this trend that’s less

London-based private equity firm Cinven has announced plans to acquire online tax preparation software provider TaxAct in an all-cash deal worth around $720 million. TaxAct offers a range of online tax tools and products, targeting individuals, small businesses and professional tax preparers. The c

In 2014, Angus McDonald, the former head of publisher partnerships at Yahoo (full disclosure: technewss’s parent company), teamed up with ex-Googler Chris Bayley to found Cover Genius, an insurtech platform that prices and handles claims for virtually any line of insurance or warranty. After

India’s Decentro, the Y Combinator-backed startup that helps companies enter the fintech market by deploying its APIs, has raised $4.7 million in a Series A round. The Bengaluru-based startup offers banking and payments APIs that allow development of fintech products such as banking, payment

Hong Kong has proposed allowing retail investors to trade in cryptocurrencies and crypto exchange-traded funds and plans to conduct pilots in NFT issuance and CBDC as it looks to regain its status as a global financial hub. The city had last year proposed limiting crypto trade to professional inves

Egyptian fintech Money Fellows has raised $31 million in what it describes as the first close of its Series B investment. The round, which the startup expects to top up in the coming months, was led by CommerzVentures, Middle East Venture Partners (MEVP) and Arzan Venture Capital. Other participati

Xiaomi has quietly discontinued its financial services in India, less than three years after launching payment and lending apps in the key global market, two sources familiar with the matter told technewss, retreating from what analysts say is a $1 trillion opportunity. The Chinese giant recently

India’s Money View is in talks to raise a new round of funding at a unicorn valuation, two sources familiar with the matter told technewss, in a boost to the local fintech community that has been rattled by the central bank’s stringent guidelines and funding crunch in recent months. Ap

Crowded, a free banking app targeting member-based nonprofit organizations, like fraternities, sororities and booster clubs, closed on $6 million to continue developing its suite of banking and member management tools. Organizations often open banking accounts at nearby institutions, while some gro