Hi fintech friends, Osborne here!

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).

Don’t forget to share with fellow fintech friends!

✨ Join us for the Fintech Living Room Singapore presented by AWS on 15th June, 2023

Super excited to be bringing our community mixers to Singapore on 15th June! We're hosting a meet-up to bring Southeast Asia's fintech ecosystem together.

Join other founders, senior operators and investors at the Fintech Living Room!

We are hosting a fireside Q&A (Chatham House Rules) to get candid about the state of fintech today. Space is limited at the venue, so register now!

🐦🏆 Tweets of the Week

📈 Chart of the week

(Source)

🇮🇳 India

📰 Market Updates

  1. PB Fintech, holding company of Policybazaar and Paisabazaar, reported 61% YoY growth in Q4 FY23 (ended Mar 2023) revenue to $105mm (INR 869.09cr) and 96% YoY reduction in consolidated net loss to $1.1mm (INR 9cr) for the same period.

  2. Vivritiis launching a new $250mm debt fund to invest in small and medium-sized companies.

  3. LendkingKart claimed to have generated INR 828cr ($100mm) in revenue and INR 120 cr ($14.5mm) in net profit in FY23 on INR 3,959cr ($479mm) loan disbursal.

🚀 Product Launches

  1. BetterPlacelaunchedBetterPlace Money, its credit and other financial services product.

  2. Google Paylaunched support for UPI on RuPay credit cards.

  3. Gupshup, a conversational engagement company, launched UPI payments for feature phone users.

📝 Regulatory Updates

  1. IRDAI (insurance): Is hosting Open Houses for insurtech and fintech startups on the 15th of every month.

💰 Financing Announcements

  1. PhonePeraised $100mm.

  2. XFlow, a cross border infrastructure startup, raised $10mm.

  3. Coverzy, a small business insurance startup, raised $390K.

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🌏 Asia

📰 Market Updates

  1. The New York Federal Reserve and the Monetary Authority of Singapore (MAS) published a report on the findings of their cross-border payments study.

  2. MASlaunched Financial Sector Artificial Intelligence and Data Analytics (AIDA), a program to build AI talent pipeline for the financial sector.

  3. AXA Insurance Thailand partnered withCoverGo, a Hong Kong based no-code insurance SaaS startup, to provide better health claims processes.

  4. Superbank Indonesia partnered withHome Credit Indonesia to expand access to inclusive financing for underbanked communities in Indonesia.

  5. Amazonpartnered withAtome to launch BNPL for Amazon's Singaporean customers.

  6. HSBC Hong Kong launched a B2B transaction financing tool.

  7. ZA Bank, a Hong Kong virtual bank, launched virtual-asset trading for retail investors.

  8. A Mckinseyreport stated that fintech revenue in MENA region and Pakistan could triple to $4.5bn by 2025.

💰 Financing Announcements

  1. Skorlife, an Indonesian credit scoring startup, raised $4mm.

  2. Netbank, a Philippine fintech infrastructure startup, raised an undisclosed amount.

🌏 International

Please find our global coverage and consider subscribing.

And of course, our podcast series - Beyond Two Percent and Hey Fintech Friends.

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

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