Google launched credit products in India; Julo launched education financing in Indo | TWIF 21-10-2023

National Stock Exchange, one of India's stock exchanges, grew its active client base to 33.4mm in Sept, 2023.

PhonePereported INR 2,914cr ($ 355mm) of consolidated in FY23, growing 77% YoY.

Of the estimated 70mm merchants on UPI, 15-20% of them have requested their bank partners to disable Credit on UPI transactions, owing to MDR's.

SafexPay, a cross border payments company, launchedNeuX, a neo banking platform.

Cashfree Paymentspartnered withGlobal Trade Plaza to launch cross border payments.

Googlelaunched "DigiKavach" an early threat detection and warning system for financial fraud.

Googlepartnered withAxis Bank to disburse personal loans to its retail users.

Googlepartnered withICICI Bank to disburse loans to is UPI merchants.

NPCIlaunched B2B payments feature in Bharat Bill Payments platform.

Yubi, a debt facilitation platform, launchedAspero, an online bond platform.

Neo, a wealth management startup, raised $35mm.

Tap Invest (formerly Leaf Round), a fixed income investment platform, raised $2mm.

HiWi, a cross border banking startup, raised $915K.

Niyo, a neobanking startup, raised an undisclosed amount (brand capital).

Bajaj Finance acquired 26% stake in Pennant Technologies, a lending management platform, for INR 267.5cr ($32.6mm).

Aurionpro, a banking IT platform, acquiredOmniFin, a loan management system, for $9.8mm.

Vastu Housing Financeclosed a secondary transaction of $30mm from Faering Capital.

UpBit, a South Korean crypto startup, received final license as a Major Payments Institution in Singapore.

Bolttech, a Singaporean insurance infra company, is considering an IPO in US.

Tonik Bank in Philippines launchedPayhingya, a life and disability product for borrowers.

UBS SEA launched a digital platform for structured products for its users in Singapore and Hong Kong.

Goto and Bank Jagolaunched the bank account offering.

Julo, an Indonesian consumer credit startup, launched education financing product.

Nium, a global payments company, launched B2B travel payments via virtual cards in APAC.

MAS, Singapore's central bank, released Guidelines on Transition Planning, a supervisory set of expectations for financial firms to have framework to transition to net zero climate change mitigation.

Igloo, a Southeast Asian insurance platform, partnered with Oppo to launch smartphone protection plans.

Bolttech, a Southeast Asian insurance infra company, acquiredDigital Care, a Polish insurance infra company.