The Monday Roundup: what we are watching this week | Sept 8th

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.

From Insurance Streets to Digital Highways

Turtlemint Fintech Solutions has submitted a confidential Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) and stock exchanges, signalling a potential move toward an initial public offering (IPO). However, the company clarified that this filing does not guarantee an IPO will take place. Turtlemint, a tech-enabled insurance distribution platform, connects customers, insurance advisors, and insurers to offer health, life, and motor insurance products. It also provides access to mutual funds and loans.

Founded in 2015 by Dhirendra Mahyavanshi and Anand Prabhudesai, Turtlemint leveraged the rise of mobile and internet technologies to make insurance more accessible. The company is backed by investors such as Peak XV, Nexus Venture Partners, Amansa Capital, and Jungle Ventures. Between 2023 and 2025, it facilitated the sale of over 1.6 crore insurance policies across 19,105 pin codes through a network of more than 400,000 point-of-sale agents. It has also partnered with over 42 insurance companies and trained more than 430,000 advisors.

Lead Bank has raised $70 million Series B funding round, led by  ICONIQ and Greycroft, alongside continued support from existing investors Ribbit Capital, Coatue, Khosla Ventures, Andreessen Horowitz, and Zeev Ventures. This investment brings Lead Bank’s post-money valuation to $1.47 billion, underscoring its position as a driving force in digital-first banking.

Since its acquisition in 2022 for $56 million under the leadership of CEO Jackie Reses, Lead Bank has transformed into a cornerstone institution for the global FinTech ecosystem. Its rapidly expanding banking-as-a-service (BaaS) platform is designed to meet the pace and scale of high-growth FinTechs, combining agility with robust risk and compliance frameworks.

The strong investor interest and rising valuation reflect confidence in Lead Bank’s vision to redefine banking for the digital age. With this new capital, the bank is well-positioned to continue its rapid expansion and deliver cutting-edge financial solutions nationwide.

From Fees to Freedom

equipifi has partnered with Jack Henry™ FinTech Integration Network (FIN) to bring modern, consumer-centric payment solutions directly into the banking ecosystem.

By joining Jack Henry’s FIN, equipifi gains access to advanced technical resources that streamline deployment and integration, ensuring financial institutions can adopt its BNPL platform with speed and efficiency. The collaboration highlights the increasing significance of BNPL as a vital component of digital banking transformation, aligning with financial institutions’ efforts to provide innovative, customer-centric solutions.

equipifi’s BNPL platform integrates seamlessly with SilverLake System through jXchange™, a services-based programming interface designed to provide secure access to core data and business rules. This architecture safeguards data integrity by mediating all interactions through a managed service layer, enabling consistent, compliant, and secure data exchange between financial institutions and FinTech providers.

The result is a faster time-to-market for financial institutions looking to launch in-house BNPL programmes. Banks and credit unions leveraging SilverLake System can now offer state-of-the-art payment flexibility, elevating digital banking experiences, increasing customer engagement, and creating new revenue opportunities through enhanced interest income. The expansion positions BNPL as a cornerstone capability for institutions modernising checking accounts, debit cards, and mobile banking applications to meet rising consumer expectations.

Prime Bank PLC has launched Zero by Prime Bank, a credit card designed to eliminate all fees and set a new benchmark for customer-centric innovation in Bangladesh’s financial services sector.

The new product was formally unveiled by Nazeem A. Choudhury, Deputy Managing Director, Consumer Banking, Prime Bank, and Sabbir Ahmed, Country Manager, Visa, alongside senior leaders from both organisations.

Zero by Prime Bank is a Visa Signature card that reimagines the credit card experience by offering premium features with absolute fee transparency. For the first time in Bangladesh, customers are assured of no Issuing Fee, no Annual Fee, no EMI Processing Fee, no Renewal Fee, no Mobile Financial Service (MFS) Transfer Fee, and no hidden charges.

In line with Prime Bank’s commitment to inclusive banking, the card also introduces a blind notch to support visually impaired customers, an industry-first design feature aimed at enhancing accessibility and universal usability.

What is the Buzz

Viyona Fintech, a digital payments platform, has received approval from the National Payments Corporation of India (NPCI) to operate as a Third-Party Application Provider (TPAP). This authorisation allows Viyona to offer Unified Payments Interface (UPI) services in partnership with banks, contributing to the growth of India’s digital payments ecosystem.

With this milestone, Viyona aims to deliver secure and scalable UPI solutions that promote financial inclusion across both urban and rural regions. Its flagship product, GraamPay, is designed to support farmers, small merchants, and local communities by enabling seamless digital transactions, collections, and payouts.

In addition to its core services, Viyona is launching a farmers’ marketplace within GraamPay. This platform will connect farmers directly with buyers, helping ensure fair pricing, quicker settlements, and broader access to UPI-based financial tools. The initiative aligns with Viyona’s broader mission to empower underserved segments and enhance digital financial accessibility in India.