Hi fintech friends,
Please enjoy all the news and updates from the past week in today’s edition. If you feel TWIF brings you value, please share it with your friends (and maybe suggest they subscribe too).
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🦉🏆 Tweets of the Week
🇮🇳 India
📰 Market Updates
Life Insurance Corporation (LIC) of India filed its draft IPO prospectus.
Infibeam Avenueslaunched a "Fintech Startup Management" infrastructure business based in GIFT City.
🚀 Product Launches
📝 Regulatory Updates
RBI (central bank): Deputy Governor made a statement that banning cryptocurrencies is the most advisable choice.
💰 Financing Announcements
Propelld, an education finance startup, raised $35mm.
RapiPay, the neo banking arm of Capital India, raised $15mm.
Kenko Health, a health subscription and insurance startup, raised $12mm.
Swipe, a billing and payments for SMB startup, raised $2mm.
HealthySure, an employee insurance startup, raised $1.5mm.
Tartan*, a payroll API startup, raised an undisclosed amount.
ACQUISITIONS:
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🌏 Asia
📰 Market Updates
DBS Digital Exchangesurpassed SGD 1bn in trading value in the first year of ops. It is also expected to launch crypto trading for retail users.
FinAccel, the parent company of Indonesian BNPL platform Kredivo, is increasing its stake in Bank BI from 40% to 75%.
Philippinesreceived $31.4bn (+5% YOY) in inward remittances.
MAS, Singapore's central bank, said it will not regulate activities related to NFT's.
Taiwan's central bank is expected to launch it's CBDC.
💰 Financing Announcements
Funding Societies, a Southeast Asian SMB finance startup, raised $144mm.
Akulaku, an Indonesian personal finance company, raised $100mm.
Cyber Sierra, a cyber insurance startup, raised $4.3mm.
NOBI, an Indonesian crypto exchange, raised $4mm.
Andalin, an Indonesian freight and trade finance startup, raised $4mm.
HolyWally, a digital wallet startup, raised $1.4mm.
Lummo, an Indonesian SMB accounting SaaS startup, raised an undisclosed amount.
ACQUISITION:
bolttech, a Singaporean insurance startup, acquired AVA Insurance, an insurance broker and distribution agency.
🌏 International
Please find our global coverage and consider subscribing.
US and Global, written by Nik Milanovic published on Friday’s and Saturday’s.
Europe and UK, written by Michael Jenkins published on Monday’s.
Latin America, written by Christine Chang.
Policy, written by Ben White.
If you’ve made it this far - thanks! As always, you can always reach me at [email protected]. I’d genuinely appreciate any and all feedback. If you liked what you read, please consider sharing or subscribing.
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