Hi fintech friends, I'm Osborne, Principal at EMVC.
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).
🧐🏆 Posts of the Week
A data-driven look at fintech adoption in vertical software
I gathered data on how embedded fintech is actually used today across verticals and what that means for founders and investors.
Here's what I learned: pic.twitter.com/dZGDPeBFTi— Matt Brown (@matttbrown) April 10, 2024
Nearly every new Fintech company I see is unbundling some Stripe product— Simon Taylor (@sytaylor) May 24, 2024
Mistakes are made in a Bull market,
But are realized in the Bear Market.— Abhijit Chokshi | Investors का दोस्त (@stockifi_Invest) May 24, 2024
Every time I do bank/insurance/investment work for my parents, I have to go through a mess of OTPs. And me being in a timezone 9 hours behind doesn't help.
Is there a way to forward their SMSes to me? Or maybe view in a browser app?— Aditya⚡ (@adityarao310) May 23, 2024
(Note: Neither TWIF nor I endorse any views in the tweets highlighted above.)
📈 Chart of the Week
🇮🇳 India
📰 Market Updates
New PoS terminaldeployment grew at 14% YoY in FY24 (ended Mar, 2024), compared to 28% and 29% in the preceding two years, the slowest growth rate in PoS terminals since demonetisation.
The Trade Receivables and Discounting System (TReDS) platform facilitated INR 1tn ($12bn) in invoice financing for 5mm invoices in FY24.
Niro, an embedded unsecured credit startup, disbursed $125mm in disbursals over 27 months since launch.
Rupay card acceptance is being launched in Maldives.
Fintech startupsraised $29mm in funding in April, 2024, taking the total funding raised by startups in the sector to $203mm in 2024.
The total market size of all listed companies in Indiagrew to $5tn.
Paytmreported revenue from operations of INR 2267cr ($273mm), declining 3% QoQ, and a net loss of $66mm.
Godigit, a general insurance company, listed its shares on India's stock exchanges at a 5% gain over issue price.
🚀 Product Launches
Jupiter MoneylaunchedMagic Spends, a feature to invest a fixed amount per transaction in gold and mutual funds.
Upstox, a stock broking startup, launched a term insurance distribution products.
Credilio, a personal loan distribution company, launchedNovio, a payments app.
Decentro, a fintech infra startup, launchedFlow 2.0, it's latest payments stack after receiving RBI approval to operate as a payment aggregator.
HDFC BanklaunchedPixel Card, a credit card with customisable rewards.
📝 Regulatory Update
💰 Financing Announcements
ACQUISITIONS:
CashFlo, a supply chain financing startup, acquiredLogiTax, a tax compliance management provider.
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🌏 Asia
📰 Market Updates
Visareleased the names of startups that are part of its 2024 Asia Pacific Accelerator cohort.
Singapore's courts approvedPine Lab's request to move HQ domicile from Singapore to India.
GCash, a Philippine payment wallet company, is planning to become a super app and launching insurance, investments and other products.
Worldcoinwas ordered to halt operations in Hong Kong over privacy concerns.
💰 Financing Announcements
Honest Bank, an Indonesian consumer finance startup, raised $2.5mm.
🌏 Sponsor on TWIF
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