This Week in Fintech - Asia | 12th Nov, 2022

Fintech news, updates and fund raise announcements from Asia for the week ending 12th Nov, 2022.

This Week in Fintech - Asia | 12th Nov, 2022

Hi fintech friends,

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).

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🦉🏆 Tweets of the Week

🇮🇳 India

📰 Market Updates

  1. ZestMoney, a BNPL startup, reported a 62.4% YoY growth in revenues to 17.7mm for FY22 (ended Mar 2022).
  2. PB Fintech, holding company of Policybazaar and Paisabazaar, reported $77.3mm in total revenues for the quarter ended Sept 2022.
  3. Paytm reported $233.4mm in total revenue (76% YoY) for the quarter ended Sept, 2022.
  4. CarDekho, a marketplace for cars, announced that it will invest $100mm in its fintech arm, Rupyy.
  5. EvolutionX Debt Capital, a debt financing platform by DBS and Temasek, made its maiden debt investment in API Holding.
  6. KFin Technologies received approval to raise Rs 2,400 crore ($293mm) through an initial public offering.

🚀 Product Launches

  1. Razorpay launched a RTO Analytics Dashboard.
  2. Carret, a crypto investment startup, launched 24Carret, an institutional investment product.
  3. Zomato launched Zomato Pay, its pay in restaurant feature.

📝 Regulatory Updates

  1. RBI (central bank): Claimed that its new regulations for micro finance are aimed at improving credit worthiness of borrowers. Approved Digio’s payment aggregator license.
  2. SEBI (securities): Introduced regulatory framework for online bond platforms.

💰 Financing Announcements

  1. Even, a healthcare subscription startup, raised $15mm.
  2. Doola, a US and India based, professional and banking services startup, raised $8mm.
  3. Bold Finance, a gold financing startup, raised $1.5mm.
  4. InPrime, a retail credit startup, raised $1.4mm.
  5. QubeHealth, a healthcare payments and finance startup, raised an undisclosed amount.
  6. Monsoon Creditech, a loan underwriting startup, raised an undisclosed amount.


  • ZikZuk, a small business neo bank, acquired TaxSpanner, a tax planning startup.

Note: $1 = INR 82

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🌏 Asia

📰 Market Updates

  1. Ant Financial launched a BNPL product in Hong Kong.
  2. iLex, a Singaporean corporate debt marketplace company, reported crossing $10bn of assets listed on its marketplace.
  3. launched a credit card with crypto capabilities in Singapore.
  4. Tonik Bank, a Philippine digital bank, launched two new loan products - Flex Loan and Big Loan.
  5. Atome secured a major payment institution license from MAS in Singapore.
  6. Pine Labs partnered with KPJ Healthcare to launch BNPL for healthcare expenses in Malaysia.
  7. Stockbit, an Indonesian stcok trading startup, launched crypto trading.

💰 Financing Announcements

(there were no funding announcements. Did I miss any?)

🌏 International

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