This Week in Fintech India + SEA | 17th Jul, 2021

Hello Fintech friends,

Welcome to the first edition of This Week in Fintech - India and SEA! Yesterday we announced this collaboration between Nik, Michael, and myself to provide readers with better coverage of fintech news in various markets.

This was a monster week for Fintech in India and SEA. In India Paytm and Mobikwik filed their draft IPO prospectus’. In SEA, there were 8 new fund raise announcements and 2 acquisitions.

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.


🦉🏆 Tweet of the Week


🇮🇳 India

📰 Market Updates

NPCI to launch FAST-tag enabled parking lots India starting with Maharashtra, India.

Paytm filed its draft IPO prospectus (DRHP) for India's largest IPO of $ 2.2bn. Mobikwik filed its DRHP for IPO with public offer of $ 225mm.

Bhutan became the 2nd country after Singapore to accept UPI payments infrastructure. BharatPe is targetting $ 6bn in annualised transaction processed value from POS business.

🚀 Product Launches

CoinDCX, a cryptocurrency exchange, launched ethereum-backed Liqueth token to make staking accessible. ZebPay launched mutual fund-like SIP facility in Bitcoin and Ethereum.

Winvesta launched a multi-currency account for investors investing abroad.

📝 Regulatory Updates

RBI (central bank): Allowed retail participation in direct purchase of government securities. Indefinitely barred MasterCard India from issuing new cards (debit, credit or prepaid) starting 22nd July, 2021.

💰 Fund Raise Announcements

Aquaconnect (neobanking, undisclosed). CerditFair (Consumer lending, $ 15mm). OneCode (agent-led distribution, $ 5mm). Protonn (freelancer SaaS, $ 9mm).


🌏 South East Asia

📰 Market Updates

Payfazz, Indonesian payments startup, received its e-Money license. Thai regulator cautioned public that cryptocurrencies are not legal tender.

Report says that Neobanking market in Southeast Asia will grow 1.5 times in 2021. China’s digital yuan trial reached $ 5.3bn in transaction value.

In the Philippines and Vietnam, cash transactions account for 37% and 26% of all transactions, per a report by ACI Worldwide.

💰 Fund Raise Announcements

Fund raise announcements: Nium (Singapore, Fintech API, $ 80.4mm). OnlinePajak (Indonesia, retail tax filing SaaS, $ 12 mm). Velotrade (Malaysia, trade finance, undisclosed). Syfe (Singapore, robo advisory, $ 30mm). Tinvio (Singapore, supply chain SaaS and finance, $ 12mm). Ape Board (Thailand, DeFi asset aggregator, undisclosed). CrediLinq.AI (Singapore, risk underwriting SaaS, SGD 1.5mm). Zetl (Hong Kong, HR finance, $ 700K).

Acquisitions and Exits: NomuPay acquried Wirecard's operations in Malaysia and Hong Kong. Bambu acquired Tradesocio in Singapore.


🧐 Looking for context, deep dives and further insights?

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


📜 Notable Nuggets


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