HolyWally joins Tokyo Financial Award mentoring programme

Singapore-based HolyWally, the world’s first Wallet-as-a-Service platform that allows companies to quickly build their own digital wallet, has been selected to join the Tokyo Financial Award, a mentoring programme. Initially 15 companies, from Japan and internationally, have been chosen from a list of 108 applications, covering 26 different countries and regions. The 15 were selected … Read more

Moroccan fintechs get the nod for The Web Summit

Two Moroccan fintechs have been invited to attend The Web Summit in Lisbon, Portugal. The first is Fastdok which has developed a SaaS tool that creates documents for multiple sectors. The second is Henceforth, which provides car repair loans. Both have been invited via the Summit´s startup programme, ALPHA. The Summit starts on Tuesday 1 … Read more

TradFi in danger of missing out on embedded finance boom

Traditional finance is in danger of being let behind as the embedded finance market rockets. So said Bain in a recent report which predicted that the embedded finance transaction value is to more than double to $7 trillion in US by 2026. Embedded finance poses a major challenge to traditional financial institutions, threatening to separate … Read more

European FaaS to grow by 16.5%

The Europe Fintech-as-a-Service market is expected to grow by 16.5 % CAGR from now until 2028. The prediction comes from Research and Markets. The report explained that platforms and applications that provide banking as a service (BaaS) have developed as a practical and economical way to deliver financial services based on open banking concepts. To … Read more

Neem raises $2.5m in seed money to help Pakistan underbanked

Pakistan fintech Neem has raised $2.5m in seed funding round, furthering its mission of bringing financial wellness to the country’s underbanked communities – both individuals and businesses.  Neem’s ambition is to bring an embedded finance model to Pakistan with a market opportunity of $167bn. Investors include SparkLabs Fintech, leading investment house in Pakistan Arif Habib … Read more

Dubai’s DIFC grows

The Dubai International Financial Centre (DIFC), one of the leading global financial centres in the Middle East, Africa and South Asia (MEASA) region, has grown in the first half of 2022. A total of 537 new entities registered during the first half of this year, representing an 11 per cent year-to-date increase. The total number … Read more

Value of contactless payment transactions to jump

The value of contactless payment transactions will reach $10 trillion globally by 2027, up from $4.6 trillion in 2022. What’s more, the investment in the underlying contactless payments ecosystem, such as contactless‑enabled POS (Point-of-Sale) terminals and device-level support, will be the key driver of contactless transactions value growth over the next five years. So says … Read more

UM6P invests in animal free diary products

Moroccan fund UM6P has made an investment in South African outfit De Novo Diary which develops animal free diary products. It produces milk proteins gained from the precision fermentation of yeast strains. This has in the past been difficult to achieve. They can then be used in a number of products to boost human nutrition. … Read more

Morocco named as future fintech star growth area

A new report has named Morocco as one of the key African regions geared for fintech growth. It is amongst one of 11 key markets in Africa picked out by the report entitled Fintech in Africa: The end of the beginning by McKinsey. The others are Cameroon, Côte d’Ivoire, Egypt, Ghana, Kenya, Nigeria, Senegal, South … Read more

NFT transactions to nearly double by 2027

NFTs to doudle

The global number of NFT (Non-fungible Token) transactions will rise from 24 million in 2022 to 40 million by 2027. The good news comes from research house Juniper, but there are a couple of caveats. Firstly the environment impact on the environment as transactions rely on heavy power usage and the fact that NFTs operate … Read more

Remitly acquires Rewire for $80m

Israeli-based Remitly Global, a global digital financial services provider for immigrants and their families, has acquired Rewire, an Israeli-based financial services platform for migrant workers. The $80m price tag was a mix cash and stock. Founded in 2015 with offices in Amsterdam and Tel Aviv, Rewire’s remittance platform builds customer relationships and is geographically complementary to Remitly. Rewire’s customers create … Read more

Global players expanding prepaid card solutions in Mexico

The Mexian prepaid card market is expected to increase from US$19.57bn in 2022 to reach US$33.80bn by 2026. The report, from Research and Markets, shows that the emergence of innovative prepaid card solutions has accelerated the growth of the prepaid card market in Mexico. With a rising fintech industry coupled with a large unbanked population, … Read more

BNPL user numbers to climb dramatically

The number of Buy Now Pay Later (BNPL) users will surpass 900 million globally by 2027, up from 360 million in 2022. So says a new study from Juniper Research. This substantial growth of 157% will be driven by the anticipated economic downturn, which will increase the demand for low-cost credit solutions. BNPL schemes enable … Read more

KMS launches Kaypay, a BNPL commerce platform

KMS has launched Kaypay for Vietnamese users from August 2022. Kaypay is an application that combines a social commerce platform with a pay-later payment method. KMS is a global software company committed to implementing a transparent buy now, pay later service and bringing authentic products to its end users. Kaypay is a no-service-fee for users … Read more

OneLoads loads up with $11m

OneLoad, which targets micro-retailers in Pakistan, has raised $11m. The round was led by Sarmayacar and Shorooq Partners, and included Bill & Melinda Gates Foundation’s Strategic Investment Fund, making its first investment in Pakistan. The money will be used to fund its growth as it works on helping the world’s third largest unbanked population. It’s … Read more