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Related Fintech Industry News

• July 2023: Backbase, the world’s largest omni-channel bank, has partnered with OBC to accelerate its omni-channel banking transformation, as announced in a signing ceremony.
• February 2022: Visa, the world’s largest digital payment company, partnered with VNPAY, a leading fintech company in Vietnam, to improve the digital payments ecosystem in Vietnam.

• September 2023: PayU, an Indian payments company, partnered with WhatsApp to considerably improve Indians' purchasing experience.
• November 2022: The Hyderabad-based SaaS business CreditVidya was acquired by Bengaluru-based financial unicorn CRED in a deal that included cash and stock. The value of the agreement has not been made public by the companies.

• August 2023: MENA’s number one shopping and fintech app, Tabby, launched its latest all-in-one shopping tool, Tabby Shop. This is the biggest update to Tabby’s app since its inception. Tabi Shop is a comprehensive shopping app that brings together more than 500,000+ products from over 10,000+ brands in the Fashion, Beauty, Home, and Electronics categories. Tabby Shop offers several shopping tools, such as smarter search, better wishlists, deal notifications, and more.
• January 2023: Tabby, the number one shopping and fintech app in MENA, closed a USD 58 million Series C funding round led by Sequoia Capital India (SCI), STV (STV), and PayPal Ventures (PV), with participation from Mubadala investment capital (MIC), Arbor Ventures (ARAM) (CIVB) (CVC) and Endeavour Catalyst (Endeavor). According to PayPal Ventures, Tabby's Series C funding brings its total valuation to USD 660 million, making it the second-most valuable startup in MENA and the number one in the GCC.

• Mar 2022: Adyen, a global financial technology platform of choice for leading businesses, planned to expand beyond payments to build embedded financial products. These products will enable platforms and marketplaces to create tailored financial experiences for their users, such as small business owners or individual sellers. The suite of products will allow platforms to unlock new revenue streams and increase user loyalty.
• Jun 2021: Raisin and Deposit Solutions, two big German fintech startups and rivals, were planning to unite to form a pan-European group that will offer innovative, API-based B2B and B2C products in the savings and portfolio management areas. The company will keep its New York, London, Manchester, and Madrid offices open. Raisin DS will combine the best practices in B2B and B2C - 'every day' savings and investment products - to form a new enterprise.

• July 2023: Citi unveiled its trade and working capital eLoans, a financial solution tailored to address immediate and future working capital needs. Citi eLoans, emphasizing simplicity and security, aims to empower eligible clients with the necessary liquidity to sustain their commercial operations.
• May 2023: JPMorgan Chase made a significant move by acquiring the lion's share of assets, along with deposits and select liabilities, from First Republic Bank in a transaction facilitated by the Federal Deposit Insurance Corporation (FDIC). This acquisition contained First Republic Bank's assets, boasting a loan portfolio of around USD 173 billion and securities valued at approximately USD 30 billion.

• March 2024: CNB Bank & Trust (CIBC) and Insuritas partnered to launch an embedded full-service insurance agency. Insuritas is proud to announce that it has been chosen by CIBC to install its award-winning, fully-functioning digital insurance agency solution. BUNDLE is Insuritas' award-winning, full-functioning insurance agency platform embedded in CIBC's ecosystem and engineered to provide a complete solution for CIBC's retail and commercial clients.
• June 2023: Clover Health Investments Corp., a leading provider of physician enablement services with a mission to improve Medicare access to quality healthcare, announced that it had reached a partnership agreement in principle to settle seven derivative lawsuits that are pending in the courts of Delaware and New York, as well as in the courts of Tennessee.

• In August 2023, BlackRock Inc., a prominent international credit asset manager, acquired Kreos. Kreos, renowned for its specialization in growth and risk-based financing for technology and healthcare enterprises, enhances BlackRock's market presence. This acquisition aligns with BlackRock's strategic objective of broadening its private-market investment portfolio.
• In January 2023, Fidelity Investments acquired Shoobx, a leading provider of automated equity management and financing software. Shoobx caters to private companies across various growth stages, including IPOs.

• July 2023: Backbase, the world’s largest omni-channel bank, has partnered with OBC to accelerate its omni-channel banking transformation, as announced in a signing ceremony.
• February 2022: Visa, the world’s largest digital payment company, partnered with VNPAY, a leading fintech company in Vietnam, to improve the digital payments ecosystem in Vietnam.

• September 2023: PayU, an Indian payments company, partnered with WhatsApp to considerably improve Indians' purchasing experience.
• November 2022: The Hyderabad-based SaaS business CreditVidya was acquired by Bengaluru-based financial unicorn CRED in a deal that included cash and stock. The value of the agreement has not been made public by the companies.

• September 2023 - Standard Chartered Bank, a multinational bank, launched a sustainable trade loan offering for financial institutions. It will assist financial institutions in providing liquidity associated with sustainable development in the most needed areas.
• April 2022 – The Asian Development Bank signed a deal with Axis Bank Limited worth up to USD 150 million to work together to expand supply chain financing for small and medium-sized businesses. The Asian Development Bank will guarantee loans made by Axis Bank to assist supply chain finance for impact sectors under the terms of its Trade and Supply Chain Finance Programme (TSCFP).