The Monday Roundup: what we are watching this week | Apr 7th

By Puja Sharma

The Monday Roundup sets the scene for the week’s biggest news stories, industry deals, and upcoming events. For Prime subscribers only.

The shifting sands of FinTech funding

​Plaid, a San Francisco-based FinTech company, has secured a $575 million funding round led by Franklin Templeton. Participation came from Fidelity Management and Research, as well as existing investors NEA and Ribbit Capital. This investment values Plaid at approximately $6.1 billion, a significant decrease from its over $13 billion valuation in 2021. The funds are primarily allocated to cover employee tax obligations related to the conversion of restricted stock units (RSUs) and to provide liquidity to team members. ​

This funding reflects the evolving dynamics of the FinTech sector. Plaid’s reduced valuation mirrors broader market trends where sustained higher interest rates have led to more cautious investor sentiment and compressed tech valuations. Despite this, Plaid’s ability to secure substantial investment indicates continued confidence in FinTech infrastructure providers. The company’s focus on internal financial health and employee liquidity, rather than immediate public listing, underscores a shift towards sustainable growth and operational stability. For the FinTech industry, this move highlights the importance of adaptability and resilience amid changing economic conditions.

Bessemer Venture Partners has led a $30 million Series A funding round in Pune-based SaaS FinTech firm Easebuzz. According to media reports, the round included both primary and secondary transactions and values the company at $200 million. Existing investors 8i Ventures and Varanium Capital also participated. Founded in 2014, Easebuzz offers an end-to-end payment solutions platform, serving over 200,000 businesses across various sectors. The company has been profitable for the last seven years, showing consistent growth in revenue and net profit.

Hunger for wallet-friendly wealth hacks

Scapia, an Indian travel FinTech startup, has raised $40 million in its Series B funding round, backed by top-tier venture capital firms. The newly secured funds will be directed toward expanding the company’s product offerings and upgrading its technological infrastructure. With a mission to transform the way users experience travel and finance, Scapia is set to deepen its innovation efforts across both sectors. The company plans to introduce more user-centric solutions that simplify travel planning, enhance rewards, and offer greater financial flexibility. This round of funding not only marks a significant milestone in Scapia’s growth journey but also reinforces investor confidence in the growing demand for integrated travel and FinTech experiences in India’s evolving digital ecosystem.

Swiss-based digital financial services provider additiv has expanded its Asia-Pacific footprint with a new office in Manila, Philippines, signaling its commitment to supporting the region’s digital banking evolution. The move comes as the Philippines experiences a FinTech boom, fueled by high mobile usage, regulatory support, and a growing middle class seeking accessible wealth solutions. With financial inclusion a national priority, additiv’s presence puts it in a strategic position to partner with banks and wealth firms aiming to scale digital offerings. This expansion not only strengthens additiv’s regional relevance but also taps into a market ripe for innovative financial platforms.

What is the Buzz

​At the Startup Mahakumbh in New Delhi, Amitabh Kant, India’s G20 Sherpa and former CEO of NITI Aayog, has called for self-regulatory organisations (SROs) in the FinTech sector to be more inclusive. He emphasised that SROs should encompass representatives from various segments of the FinTech industry, including lending, payments, InsurTech, and WealthTech. Kant believes that such diversity is crucial for developing practical and forward-thinking guidelines that balance innovation with regulatory compliance. He asserts that broad-based participation will strengthen oversight, mitigate risks, and foster responsible growth in the rapidly evolving FinTech landscape. Kant envisions SROs as collaborative platforms that bridge the gap between regulators and innovators, crafting policies that build trust and resilience within India’s dynamic FinTech ecosystem.

With India’s development ambitions in sight, Amitabh Kant asserted that transforming into a $30 trillion economy by 2047 will require FinTech to be a key engine powering the journey to Viksit Bharat.