Fintech

Paytm, one of India's most valuable startups, is seeking to raise as much as $2.4 billion in what is shaping up to be the biggest initial public offering in the country at a valuation of $20 billion, according to two people familiar with the matter and internal documents seen by technewss. Pay

Digital lenders that share personal data of loan defaulters, with third parties, risk license withdrawal in Kenya after lawmakers added a clause — granting the banking regulator the mandate to revoke permits of operators who breach customer confidentiality — to the new law passed by the

Small and medium enterprises make up more than 95% of all businesses in Nigeria. But despite their sheer size and importance, a majority of them are underserved by financial institutions and lack the full suite of financial services needed to scale their operations. Aside from full-stack financial

Earlier this month, Citibanamex — Mexico’s second-largest bank — announced that it is building new APIs to allow fintech companies real-time access to information like its services and ATM locations. The move comes as Mexico's fintech ecosystem flourishes so fiercely that traditional

Another big infusion of cash from a major investor is making its way to a fintech out of the U.K. on the heels of strong growth. Today Zopa — a neobank with some 500,000 users in the U.K. where it provides peer-to-peer lending, savings accounts, credit cards and other services — has rai

Google has today launched TaskMate in Kenya, a crowdsourcing app that lets people use smartphones to do tasks and get paid, tapping the growing gig economy. The tech giant said it has rolled out the beta version after a year-long experiment in the East African country and is preparing to introduce

Fintech startup N26 has raised a $900 million Series E round at a $9 billion valuation. That represents a big jump from the company's Series D valuation of $3.5 billion. The Berlin-based startup operates a digital bank with 7 million clients across 25 countries. Third Point Ventures and Coatue

Tala, an emerging markets digital lender that offers loans between $10 to $500 to consumers and small business owners, has raised $145 million in Series E funding. Upstart, a company founded by ex-Googlers Dave Girouard, Anna Counselman and Paul Gu, led the round. The Stellar Development Foundatio

When Visa announced plans to purchase Plaid for $5.3 billion in January 2020, the deal represented one of the largest acquisitions of a fintech upstart by an incumbent financial powerhouse. But 12 months, one pandemic and one DOJ antitrust lawsuit later, and the credit card network provider decided

Embedded finance continues to be a major theme in the world of fintech, with a wide swathe of new financial services companies tapping APIs built by others to power payments and other financial transactions, and more. In the latest development, Global Processing Services — one of the big play

"speakable-summary" dir="ltr">Fraud continues to be a major issue in the world of digital transactions, a situation that research shows was only compounded in the last 20 months of online activity growing as a result of COVID-19. Today, a Melboune startup called FrankieOne that has but an automated

CostCertified, a Canadian startup which provides real-time, interactive residential construction estimates, raised $8.45 million in a seed round of funding. FUSE, a Pacific Northwest venture firm which counts former Microsoft CFO John Connors and Seattle Seahawks linebacker Bobby Wagner as venture

Sure, an insurance infrastructure startup, announced today that it has closed on $100 million in Series C funding at a $550 million valuation. New York-based Declaration Partners and European growth investor Kinnevik co-led the financing, which also included participation from WndrCo and existing b

The average penetration rate for insurance in Africa is between 3% to 5%. South Africa makes up a large bulk of it; without it, the continent is on a 1% to 2% rate even with other developed technology and financial markets like Kenya, Nigeria and Egypt. The insurance market is still one of the indu