The Weekly Wrap: all you need to know by Friday COB | September 15th

By Puja Sharma

September 15, 2023

Deals of the Week
fintech event 2023
fintech funding

The Weekly Wrap is published every Friday and recaps the week’s main stories and deals, as well as upcoming events and announcements. For Prime subscribers only.

The Big Story

Perfios, India’s B2B SaaS FinTech company has announced that Kedaara Capital, a private equity investor, will invest $229 million in its Series-D funding round, through the combination of a primary fund raise and a secondary sale.

Perfios plans to deploy the funds to continue global expansion plans in North America and Europe. The company also plans to invest in new-age technologies to enhance its comprehensive stack of Decision Analytics SaaS products to solve the entire end-to-end customer journey across banking, insurance, and embedded commerce.

Nishant Sharma, Founder and Managing Partner, Kedaara Capital, said, “Led by one of the strongest teams in the space, Perfios has created truly the best-in-class FinTech SaaS business that plays on the strong secular growth and increasing digitization levels in the financial services sector in India and globally. Their pioneering approach has led to a strong positive flywheel effect that will help the company maintain its market-leading position, and we are excited to partner with them.”

Deals of the week

Finastra launches Compliance-as-a-Service for instant payments
Visa launches Cross-Border Solutions for businesses globally
FinTech Swan raises €37m Series B to fuel expansion in Europe
Qardy and Sandah team to expand financing for MSMEs in Egypt
Samunnati joins FinTech finbots.ai to facilitate AI-based credit risk management
Saudi Venture Capital invests $5m in VentureSouq FinTech fund
FinTech GenTwo raises $15m Series A led by Point72 Ventures
Tradeteq raises $12.5m in A Plus funding led by MS&AD Ventures
Nigerian BaaS platform Anchor secures $2.4m to boost expansion
UK neobank Zopa raises £75m in funding to accelerate growth
InsurTech inari raises $5.2m Seed Round to explore new markets

Be on the lookout for

Instant, Real-time Payments, e-KYC and digital onboarding; the FinTech space in the Middle East is rapidly evolving. As witnessed in Oman, banking customer expectations are quickly changing, increasing the need for an enhanced personalised experience with 24-hour access to financial services. Artificial Intelligence, Cloud Computing, and Open APIs drive these financial service innovations.

Cedar-IBSi’s Summit on NextGen Banking & Technology will take place in Muscat on November 2, 2023, and will gather leading bankers, technology companies, and industry regulators to discuss Innovation, Digital Adoption, FinTech Collaboration, Customer Journeys, Open Banking, Payments, and more.

September 14, 2023