Jakarta Fintech Happy Hour; WhatsApp rolled out payment acceptance | TWIF - 24th Sept, 2023

Zagglewent public on the Indian stock exchanges, at a price at par with its offer price of INR 164 ($2), it's IPO was oversubscribed by 12.6 times.

OlaMoneyreported INR 110cr ($13.4mm) in revenue in FY22 (ended March, 2022).

ONDC, India's digital commerce network, enabled digital gift card issuance via RuPay network.

Safexpay, a cross border payments startup, expanded to GCC countries.

FlexiLoansreported INR 108cr ($13mm) in revenue and INR 6.7cr ($ 0.81mm) in FY23 (ended March, 2023).

SBI Bankreportedly intends to send defulating borrowers chocolates to nudge them to pay.

Total fintech funding raised by Indian startups in August was $130mm, from $164mm in July.

Flipkart is reportedly investing $15-20mm in its credit marketplace product.

JP Morgan Chasedecided to include India as part of its Emerging Market global bond index.

Innoviti, a POS payment acceptance company, reported INR 110cr ($13.4mm) in revenue in FY23 (ended March, 2023).

InsuranceDekho, an insurance marketplace, reported INR 96cr ($11.8mm) in revenue in FY23.

WhatsApppartnered withPayU and Razorpay to launch in-app payment acceptance for its merchant userbase.

Axis BanklaunchedNEO, a business banking platform for small businesses.

Shopifypartnered withCashfree Payments to launch payment acceptance for Indian small businesses.

EBANX, a Latin American payments company, launched payment acceptance for global merchants from Indian users.

NPCIpartnered withFonepay, a Nepali payments company, to launch QR based UPI payment acceptance in Nepal using INR.

Hyperfacepartnered withVisa to launch card as a service product.

QubeHealth, a healthcare payments and credit startup, raised an undisclosed amount.

PerfiosacquiredFego.ai, a financial insights platform for banks and other institutions.

Grablaunched a crypto wallet for is Singaporean customers.

Ant Groupextended its A+China Program, a cross border payments product of Alipay+ in China, to seven new countries in Asia including Mongolia, Singapore, South Korea, Thailand and more.

Thailand’s digital economy reportedly grew by 14% in 2022, according to the Thailand Digital Economy Promotion Agency.

2C2P, a Singaporean payments company, reported $15mm of net loss in 2022.

Bank Mandiri, an Indonesian bank, partnered withFishLog, to launch small business financing.

MoneyGrampartnered withWireBarley, a South Korean payment company, to launch direct to bank account payout integration in South Korea. +

DTCPay, a Singaporean payments company, partnered withSumsub to provide eKYC and onboarding in several global markets.

MASbanned the founders of Three Arrows Capital for 9 years from Singapore's capital markets for "flagrant disregard of Singapore's regulations".

Wisepartnered withSWIFT to launch cross border payments for SEA small businesses.

Singtelpartnered with Great Eastern Insurance to launch flexible home insurance plans.

Fintech as a share of the Singaporean GDP could reach 3.56% by 2027, according to a report by Una Financial.

Sumitomo Mitsui Financeextended an asset backed loan to Tsuzaki in which casks of whisky were pledged as collateral.

Indonesian central banklaunched a national “de-dollarisation” task force to facilitate cross-border local currency transactions with regional partners.

SBI Ripple Asia, a joint venture between SBI Holdings, Ripple, Tranglo, and SBI Remit, launched XRP-enabled cross border remittance service in Southeast Asia.

Bolttech, a Southeast Asian insurance infrastructure company, raised $50mm.

CrossFund, a Singaporean and Vietnamese equity financing startup, raised $1.5mm at a $47mm valuation.

ANT Groupacquired a 36% stake in Toss Payments, a South Korean super app, for $75mm.