This Week in Fintech India + SEA | 24th Jul, 2021

Hi Fintech friends,

Welcome to the second edition of This Week in Fintech - India and SEA! If you’re looking for our global coverage, please read the below editions and consider subscribing.

Please find all the Fintech updates from this past week.


Editor’s Note: If you’re an early-stage startup founder raising equity or debt, I may be able to help - reach out to osborne@thisweekinfintech.com.


Want to be a This Week in Fintech - India and SEA Sponsor? Reach fintech founders, industry professionals and enthusiasts. Reach out to me at sponsor@thisweekinfintech.com.


🦉🏆 Tweet of the Week

🇮🇳 India

📰 Market Updates

Policybazaar filed its draft IPO prospectus to raise $ 890mm. STAR Health Insurance filed its draft IPO prospectus to raise $ 300mm. Northern Arc Capital filed its draft IPO prospectus for fresh offer of $ 42mm.

NPCI is engaging with global agencies to expand UPI and RuPay cards internationally. BharatPe is in talks to raise $250mm led by Tiger Global.

Sachin Bansal's NAVI records $ 15mm in its Index fund offer. SBM Bank tied up with 30 fintechs to grow deposits.

Indian Banks added 5.2 mn credit cards and 67 mm debit cards between Jun-20 to May-21. HDFC Life Insurance to stay away from group term business.

Total outstanding credit to micro and small businesses dipped by 3.6% YoY. HDFC Bank's small business NBFC arm reported 2x QoQ growth in GNPA from 3.89% to 7.75% in Jun-21 quarter. Bajaj Finance reported 19% GNPA in its auto finance vertical for the quarter ended Jun-21.

BharatPe offered superbikes, tickets to world cup to hire for 100 vacancies.

🚀 Product Launches

Cashaa launched a cryptocurrency savings accounts and loan for and against crypto in India. ICICI Bank launched a new co-branded card with HPCL.

Eduvanz partnered with Flipkart to provide financing solutions for e-learning tools. NPCI is piloting its voice-based payments interface

U GRO Capital partnered with Bank of Baroda to disburse $ 150mm loan to MSMEs under co-lending program.

📝 Regulatory Updates

SEBI (securities regulator): Introduced expected loss-based rating scale for rating agencies for infrastructure projects.

RBI (central bank): To begin phased roll out of its CBDC in phases.

💰 Fund Raise Announcements

Funding: Flow (social trading, undisclosed). Galaxy Card (instant credit card, $ 450K). NFTically (NFT marketplace, undisclosed). Even (health subscription, $ 5mm)

Acquisitions: Razorpay acquired TERA Finlabs, a risk management SaaS platform.

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🌏 South East Asia

📰 Market Updates

VISA launched an Islamic banking card in Bangladesh. Visa, Nium, Fuiou partnered to launch a Hong Kong and Greater China B2B payments interface.

Thunes, partnered with ABA Bank enabling Cambodians overseas to send money back home. Grab partnered with Adyen to expand its BNPL offering across SEA.

KakaoBank's IPO draws $ 2tn in bids, offer was oversubscribed 1,700x. Gojek partnered with Bank Jago to introduce digital banking products.

Philippine central bank ordered social media platform Lyka to cease its payment operations. GCash, Philippine mobile wallet operator, is seeking $ 2bn valuation in next fund raise.

💰 Fund Raise Announcements

Funding: Majoo (small business SaaS, Indonesia, $4.8mm). Zetl (small business finance, Singapore/HK, $ 700K). FTX (cryptocurrency exchange, Hong Kong, $ 900mm). DragonPay (payments, Philippines, undisclosed).

M&A: Thunes acquired Limonetik for a European payments platform.


🧐 Looking for context, deep dives and further insights?

Read the latest edition of Fintech Inside, also authored by me, delivered every weekend.


📜 Notable Nuggets

  1. The (Neo) Bank Bundle & Transition to Subscription Revenue

  2. BNPL's Next Phase: Shakeout and Profitability

  3. Free the data, unleash growth, report by McKinsey

  4. Decoding the profitability of UPI based BNPL

  5. What are the most under-discussed trends in consumer fintech at the moment?

  6. Goldman Says "Don't Buy This Dip" And Here's Why...

  7. Everything about IPOs – The complete IPO Lifecycle explained


If you’ve made it this far - thanks! As always, you can always reach me at osborne@thisweekinfintech.com. I’d genuinely appreciate any and all feedback. If you liked what you read, please consider sharing or subscribing.

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