NAO MURAKAMI’s Post

✦ The RESERVE BANK OF INDIA updates Foreign Exchange Management Regulations in 2024, aiming to benefit STARTUPS by simplifying business processes. ✦ Amendments include REVISED DEFINITIONS of startups based on the 2019 DPIIT order and permit AUTHORIZED BANKS to open foreign currency accounts. ✦ These regulations aim to STREAMLINE foreign exchange transactions for startups and PROMOTE EASE OF DOING BUSINESS. #RBI #Startups #BusinessEase #ForeignExchange #IndiaInnovation

Asian private credit is booming, with giants like BlackRock, HSBC, and Bank of Singapore, Asia's Global Private Bank filling a crucial $2.4 trillion financing gap for SMEs and burgeoning sectors like tech and education. #PrivateCredit #SMEFinancing #AsianMarketTrends #technology #coding #startups #tech https://lnkd.in/e4dBVBGP

#SME-focused fintech startup MODIFI has secured $15 million (around INR 126 crore) in a strategic investment led by SMBC Asia Rising Fund. Existing investors Maersk, Intesa Sanpaolo, and Heliad AG also participated. The #Japan-based SMBC’s VC fund is not only providing financial backing but also forming a strategic partnership with MODIFI. This collaboration, formalized through a Memorandum of Understanding (MoU), aims to expand digital solutions for SME exporters in Asia, facilitating cross-border financing. The new capital will enable #MODIFI to strengthen its foothold in high-growth markets like China and India. Founded in 2018 by Nelson Holzner, Jan Wehrs, and Sven Brauer, MODIFI offers SMEs digital tools for trade financing, risk protection, and shipment tracking. “With this funding, we’re set to redefine global trade finance—empowering businesses of all sizes with the liquidity and protection needed to grow internationally,” said Holzner. The investment arrives amid rapid fintech growth in India, where #AI-driven solutions, #neobanking, and BNPL services are reshaping the landscape. Monjur | Sarah | NAO | Mayank | Rohit | Rajeev | Masahiko | #modifi #fundingnews #startupnews #latestfunding #modifinews #fintechnews #revenue #profit #startupro

https://lnkd.in/gX3EXaAn #Singapore #Fintech  #Investment #Wise #Airwallex #Geopolitics Singapore-based real-time cross-border payments company Nium recently announced a successful Series E fundraising of $50 million. This round was led by an undisclosed Southeast Asian sovereign wealth fund, bringing the post-funding valuation to $1.4 billion. The company plans to use the funds for global expansion and acquisitions. Founded in 2014 by Prajit Nanu and Michael Bermingham, Nium's core business includes B2B payments, international remittances, multi-currency corporate account management, and payment card issuance services. Its business model is primarily based on providing infrastructure for cross-border payments and financial services, focusing on improving payment efficiency and reducing costs through digitalization. Unlike SWIFT, which facilitates global information transfer without handling the funds transfer directly, Nium provides both payment infrastructure and handles cross-border payments and fund transfers. Key investors of Nium include Riverwood Capital, Visa, Temasek, GIC, and BRI Ventures. Nium's primary international competitors include Wise (formerly TransferWise), Airwallex, and WorldRemit. Even in East Asia, it does not rank in the top ten by valuation, with higher-valued competitors in China (Ant Group, Pinduoduo Financial), Indonesia (GoTo Financial), India (Paytm), South Korea (KakaoPay), Vietnam (Momo, Zalopay), and even Singapore (Grab Financial Group). The distinction lies in that Nium does not face the geopolitical challenges that Chinese companies may encounter abroad. Additionally, financial companies within large conglomerates generally have a broad scope of operations that may overlap with Nium's cross-border payment services, but their primary customer base and flagship products likely differ based on ROI considerations. However, geopolitical risk could also represent Nium's greatest opportunity. From the current global investment landscape, only technology companies (including fintech) based in Singapore and India have managed to attract investment from both major opposing blocs in the US and China, potentially delaying the need to choose sides. In the future, if the BRICS nations establish a multilateral payment mechanism independent of SWIFT, as a company with the infrastructure and capability to handle direct fund transfers, Nium could have a faster rise. This may explain why multiple sovereign wealth funds are willing to invest in it.

YUP, the "Nubank" from Southeast Asia, Secured US$30 Million in Series B Funding Read more: https://lnkd.in/dVtK-vp3 #YUP #Nubank #SeriesBFunding #SoutheastAsiaFintech #FintechGrowth #InvestmentRound #StartupFunding #FinancialInnovation #finance #fintech #FinancialIT Dong Zhang

Moniepoint valued at $1 billion as Google, others invest $110 million Nigerian fintech, Moniepoint, has secured a $110 million investment from multiple investors including Google, bringing its valuation to $1 billion and giving it a unicorn status. The Series C investment was led by Development Partners International’s African Development Partners (ADP) III fund – a premier fund focused on Africa. Other new investors include Google’s Africa Investment Fund and Verod Capital – a leading African private equity firm. Global impact firm, Lightrock, an existing investor, also participated in the funding round. According to the company, the capital raised will be used to accelerate Moniepoint’s growth across Africa, building an all-in-one, seamlessly integrated platform for African businesses. Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint (formerly known as TeamApt) initially focused on providing infrastructure and payment solutions for banks and financial institutions. In August 2023, Moniepoint entered the personal banking market and has experienced 2,000% growth in personal finance customers over the past year while growing its revenue at over 150% CAGR in recent years. Moniepoint says it now processes over 800 million transactions, with a monthly total value exceeding US$17 billion. Why they invested Speaking to the rationale for their investment, Adefolarin Ogunsanya, Partner at Development Partners International, noted that Moniepoint has become one of Africa’s most exciting and fastest growing companies. “Moniepoint is well positioned to continue its impressive growth trajectory while driving financial inclusion for underserved businesses and individuals across Africa. DPI has a long-track record of supporting businesses like Moniepoint to achieve their next stage of scale. “The company’s combination of innovative technology, fast growth, and positive impact on the continent underpins our conviction in its future success. “We look forward to working closely with Tosin and his talented team to expand Moniepoint’s customer base by providing businesses and individuals with first-class banking. WhatsApp Facebook Twitter Email LinkedIn Reddit The post Moniepoint valued at $1 billion as Google, others invest $110 million appeared first on Akelicious.

Brasilian fintech Kanastra raised recently a $21 million series A #Kanastra raises $21 million in a Series A funding round. This significant investment will fuel the company's mission to enhance its tech-driven back office for private credit funds and securitizations in Brazil. Kanastra has been on a remarkable growth trajectory, expanding more than tenfold in the past year and acquiring 130 clients. Co-founded by Gustavo Mapeli (CEO), Kanastra is dedicated to solving the challenges of scaling while maintaining high-quality products and services. According to Mapeli, the key to success lies in having the best technology and team in the industry. The latest funding round was led by KASZEK, a prominent investor in the fintech sector. Kanastra offers a comprehensive technological platform and regulatory licenses, providing credit originators and institutional investors with automated operations, data analytics, and monitoring tools for their private credit funds and securitizations. Kanastra's offerings include fund management, fund administration, and custody for asset-backed private credit funds, as well as the issuance and management of securitization instruments. Additionally, the company provides banking products like escrow accounts, debt issuance, and debt payment methods, making it a versatile player in the financial ecosystem. The article on PYMNTS in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://t.ly/s541W   - Substack: https://lnkd.in/dzfGJzmW

The recent SEBI notification on the ICDR Regulations has resulted in a more market driven approach in overhauling the capital-regulations, aiming to facilitate the capital-raising process for start-ups in particular.          EVA Law’s article below analyses the amendments made and puts forth a perspective on the impact of these.

Brazilian fintech ASAAS secures a R$820 million Series C to fuel SMEs financial automation #Asaas, a Joinville-based #fintech firm in Santa Catarina, Brazil, has successfully secured R$820 million in its Series C funding round. The investment was led by BOND, with significant participation from SoftBank Group Corp., 23S Capital, and Endeavor Catalyst. Asaas specializes in financial automation solutions for small and medium-sized enterprises (SMEs), offering a comprehensive digital account that simplifies financial management by automating processes, increasing productivity, and reducing bureaucracy for businesses across Brazil. The new capital will be utilized to strengthen operations, enhance research and development capabilities, and pursue strategic acquisitions to rapidly diversify and enrich Asaas's solution offerings. Additionally, the company plans to expand its sales and marketing teams to bolster its market presence and penetrate new regions globally. This expansion aligns with Asaas's broader strategy to serve over 1 million digital accounts held by companies throughout Brazil. Asaas was founded by CEO Piero Contezini, who expressed enthusiasm about the investment: "This new investment will accelerate our growth and help us deliver even more value to Brazilian SMEs. Our goal is to make financial management as effortless as possible for our customers, allowing them to focus more on their core business activities." Prior to this round, Asaas had raised approximately R$150 million across Seed, Series A, and Series B funding stages. The company has demonstrated robust growth, maintaining an average annual growth rate of over 100% over the past five years. Recognized by the Central Bank as the 31st payment institution in Brazil, Asaas holds a license to operate as a Direct Credit Society (SCD), further solidifying its position in the financial services sector. The article on FinTech Global in the first comment.

Thrilled to announce our 2nd investment from SMBC Asia Rising Fund in India. We invested in Drip Capital - a leading cross-border trade finance platform, which supports Indian SMEs go global. The presence of Indian SMEs in global supply-chain will continue growing and financing is one of the key success factors for them. Drip Capital will play a pivotal role in it and SMBC as a global bank can collaborate with them in many ways. We are very excited to partner with Pushkar Mukewar and the entire Drip Capital team! Onwards and upwards! SMBCさんと進めているAsia Rising Fund*からインド第2号案件としてDrip Capitalへ投資しました。今回はRyu Muramatsuさん率いるGMOさんとご一緒させて頂いています。昨今の国際情勢の中、グローバルサプライチェーンにおけるインド、特にその中小企業が担う役割は日を追うごとに大きくなってきており、今後それは加速していくと考えられます。一方で、貿易に関わる彼らにとってはワーキングキャピタルの手当ては常に頭を悩ます問題で、大手銀行などの既存の金融機関がカバーしきれていない当該分野にDrip Capitalはソリューション提供しており、今後も大きく成長していくと見込んでいます。世界に展開する金融機関としてのSMBCグループとの協業ポイントも多く、こちらでも期待大です。 Incubate Fund Asia Incubate Fund Rajeev Ranka Masahiko Homma Alok Anand Patra Surbhi Bhatia Dave Kwong Xiang Darren Jawara Jasmin Y. Keiji Matsunaga Masaki Adachi Yusuke "Shuku" Shukuzawa KIMIE SUENAGA Mayoran Rajendra