5 major FinTech funding rounds reported in the APAC

By Gloria Mathias

The rise of new FinTech start-ups, new-to-bank population, and technological advancements have paved the way for an upsurge in FinTech evolution. FinTechs are becoming mainstream with more investment made than ever before. Tracking FinTech investments provides a better perspective on the competitive and strategic trends in the industry.

Below listed are five notable FinTech funding rounds in APAC:

• Altitude raises $500k in Pre-seed funding

Altitude, a financial services platform offering alternative investment tools, has raised around $500k in a pre-seed round and is on a mission to build an alternate investment ecosystem leading to the launch of Prism. The funding round saw participation from over 40 esteemed investors from notable institutions and various sectors.

• Collectius secures $581m

Collectius, the restructuring partner for financial institutions in Asia, has secured an additional $42 million (THB1.48 billion) in non-performing loans (NPL) in Thailand. The deal, which includes a combination of credit cards and personal loans, extends the strong momentum of portfolio acquisition for Collectius.

• DPDzero raises $3.25m in Seed round

DPDzero, an India-based FinTech with a vision to build a robust repayments infrastructure has raised $3.25 million in Seed Funding led by Blume Ventures and IndiaQuotient. The round witnessed participation from banking and FinTech leaders such as Sunil Gulati and Nikhil Kumar.

•  Pahal bags $12m loan

Pahal Financial Services (Pahal), a microfinance institution dedicated to promoting financial inclusion, has announced its collaboration with the U.S. International Development Finance Corporation (DFC), resulting in a substantial $12 million investment aimed at advancing financial inclusion efforts in rural and semi-urban regions of India.

• Uzum to invest $300 million in Uzbekistan

Uzum has planned to invest $300 million to fund further growth of the digital economy in Uzbekistan alongside prominent international investors. Investments are planned to be allocated towards accelerating the expansion of e-commerce, digital banking and FinTech services offered by Uzum Group as well as expanding the company’s own logistics infrastructure.