Total fintech funding in 2016 declined to $24.7 billion from $46.7 billion in 2015
By Antonia Timmerman
Australia-based VC firm AirTree Ventures has led a $25 million investment into online lender Prospa, in a deal claimed to be “the largest fintech venture capital investment in an Australian business”. Prospa said it will use the funds to boost technology, product expansion and distribution, as well as ramping up… Read more »
Mandiri Capital Indonesia (MCI), the corporate venture capital (CVC) of state-owned Bank Mandiri, said that it is looking to expand regionally this year, and is in dialogue with the authorities to “find ways around” a recently launched rule on foreign ownership for payment services. “Expanding to Southeast Asia has always… Read more »
Bengaluru-based fintech company ZestMoney has raised $6.5 million in a series A round of funding led by Naspers-owned PayU, the company said on Wednesday. Existing investors, US-based Ribbit Capital and Omidyar Network, also participated in the round along with individual investors. ZestMoney, owned by Camden Town Technologies Pvt. Ltd, will… Read more »
Coiney plans to use the funds to expand its online and smartphone-based payment solution business, develop more product innovations and new services, as well as boost its sales and marketing team.