Latest news with #Fintech
Entrepreneur
23 minutes ago
- Business
- Entrepreneur
Bengaluru Tops Karnataka's USD 1.7 Bn Tech Funding in H1 2025: Report
Fintech and enterprise applications led sectoral funding, attracting the highest capital. Among investors, Accel topped with the most deals, followed by active participation from Angel List, LetsVenture, and Premji Invest. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Karnataka's tech sector recorded a total funding of USD 1.7 billion in the first half of 2025, marking a significant decline from previous periods, as per the latest semi-annual report. The report, which assesses the state's tech funding activity across stages, sectors, and investor trends, highlights a continued slowdown in investment momentum. However, despite this downturn, some areas such as fintech and enterprise applications showed resilience. Bengaluru remained the dominant contributor to the funding activity, reinforcing its position as the core hub of Karnataka's tech landscape. Tracxn, which released the Karnataka Tech H1 2025 Funding Report, noted that the overall capital raised dropped by 30% compared to the second half of 2024 and 44% compared to the first half of 2024. The report attributes this contraction to reduced activity across most funding stages, with the exception of early-stage rounds, which showed a slight improvement. Seed-stage funding amounted to USD 141 million, registering a sharp fall of 39% from USD 233 million in the previous half and 41% from USD 239 million in the same period last year. Early-stage investments reached USD 611 million, reflecting a modest 15% increase from H2 2024, although still down 3% year-on-year. Late-stage deals dropped significantly, totaling USD 930 million in H1 2025, down from USD 1.6 billion in the previous half and USD 2.1 billion in H1 2024. Fintech emerged as the leading sector, attracting USD 701 million, more than triple the USD 197 million raised in H2 2024. This also marked a 57% growth from H1 2024. Enterprise Applications followed with USD 619 million, representing steady growth. Retail saw USD 542 million in funding, which, although up 27% from the previous half, was down substantially from the USD 1 billion raised in H1 2024. Only two companies managed to raise over USD 100 million this half, a drop from five such rounds in the same period last year. Groww raised USD 202 million in its Series F round, while Jumbotail secured USD 120 million through a Series D fundraise. These large rounds were predominantly seen in the fintech and retail sectors. On the public markets front, Ather Energy was the sole company to go public in H1 2025. Meanwhile, the state saw the creation of two unicorns, up from one in H2 2024 but fewer than the three seen in H1 2024. In terms of mergers and acquisitions, there were 26 deals in H1 2025. This marked a slight dip from 27 in the previous half but was an improvement over the 21 recorded in H1 2024. The acquisition of Fisdom by Groww for USD 150 million stood out as the largest deal in this period. The second-highest was the USD 26 million acquisition of Fintellix by ICRA. Bengaluru-based companies continued to dominate, accounting for a majority of the deals and total capital raised across the state. The city's role as the nerve center of Karnataka's tech investment activity remained unchanged. Among investors, Accel led with the most number of investments at 34 rounds. Angel List and LetsVenture were also active across stages. In the seed-stage category, Antler, and Rainmatter stood out. Accel, Alteria Capital and Peak XV Partners were the most prominent in early-stage deals, while Premji Invest, SoftBank Vision Fund and Creaegis took the lead in late-stage rounds. India-based Z47 added three new startups to its portfolio during this period. The funding landscape in Karnataka has undoubtedly cooled in the first half of 2025. However, activity in sectors like fintech and enterprise applications suggests that investor interest remains strong in targeted verticals. While overall deal volumes and mega-rounds declined, the emergence of new unicorns and sustained early-stage funding reflect underlying resilience in the state's innovation ecosystem.
Zawya
3 hours ago
- Business
- Zawya
Saudi Arabia's Hakbah recognized by CNBC as one of World's Top Fintechs in 2025
Riyadh, Saudi Arabia – Saudi Arabia's Hakbah was named one of the 'World's Top Fintechs in 2025' by CNBC for the company's growth track record, increase in savings among underbanked, and social impact using AI to modernize and digitize social savings in a way that helps build, enable and empower a new fully inclusive Saudi savings culture. The Hakbah app and digital platform was designed to make it fast, easy and safe for residents to participate in and benefit from Jameya group savings programs, a traditional and culturally important practice that helps individuals and families increase savings habits as well as answer short special needs. Hakbah, which is permitted by the Saudi Central Bank (SAMA) and operates within the Regulatory Sandbox, has surpassed more than 1.3 million registered users with more than 70 percent coming from a youth population that needs assistance building positive savings habits. Hakbah customers have reported using the fintech app to enable them to save for life-changing needs for themselves and their families that they previously couldn't afford. This includes things like paying for critical medical care, fertility treatments to start a family, wedding expenses, travel expense, university tuition and small projects. Naif AbuSaida, Hakbah Founder, said that bringing the social savings concept into the AI and digital age creates a far more practical and applicable new social savings culture while preserving the core purpose and cultural heritage of the social savings practice. He said that while supporting short financial needs, Hakbah helps build new savings habits among its users that have long-term benefit for them and their families while contributing to the financial stability of communities across the country. Naif AbuSaida said: 'We greatly appreciate that such a highly respected international business organization like CNBC is recognizing the unique model we've created that marries the power of social savings and the Jameya concept to make a real and lasting impact on people's lives. What's equally important is that this is a validation of the Saudi Arabia and SAMA strategy to promote the creation of an ecosystem across the national financial community that encourages collaboration and partnership to help increase savings across all segments of the population as a high priority strategic goal in alignment with Saudi Vision 2030.' Hakbah has established a range of strategic partnerships under this national vision with organizations including Riyad Bank, Fransi Bank, ANB, Alrajhi Bank, flynas and Tawuniya, the country's leading national insurance company that supports Hakbah users by providing life insurance throughout the term of their Jameya. About Hakbah Hakbah is a Saudi Fintech enhancing financial wellness across the Kingdom of Saudi Arabia, directly supporting the ambitions of Saudi Vision 2030 and the Financial Sector Development Program (FSDP). We empower individuals, including the underbanked, to foster healthier financial habits, particularly in strengthening savings behaviours, through intuitive digital tools. By promoting comprehensive financial inclusion, addressing the gender gap in financial well-being, and fostering resilience, Hakbah contributes significantly to building the financially secure society envisioned by national programs while aligning with key UN Sustainable Development Goals. Since it's launch in late 2020, Hakbah has raised more than $9 million and has been recognized as one of the fastest growing Fintech startups in the MENA region. While the country boats a $20.5 billion traditional group savings market, the average Saudi household savings rate is just 1.6% with 70 percent of citizens lacking emergency savings, resulting in significant opportunity for growth under the country's Financial Sector Development program. In addition to being fully licensed by SAMA, Hakbah is supported by the Digital Government Authority, Monsha'at, The National technology Development Programme and Saudi Fintech. About CNBC's 'World's Top Fintech Companies: 2025' CNBC worked in partnership with Statista to conduct an in-depth analysis of a range of performance indicators of more than 2,000 eligible companies. CNBC analysed and recognized companies working across seven Fintech categories, including Alternative Financing, Digital Assets, Enterprise Fintech, Insurtech, Neobanking, Payments and Wealth Technology. Hakbah was the only Saudi Arabian company that made the CNBC list of global Fintech leaders and one of only four Middle East companies. Hakbah was recognized in the Wealth Technology category which includes companies offering digital products across the wealth management ecosystem, including personal finance and money management as well as online training, investment management and portfolio optimization.
Finextra
3 hours ago
- Business
- Finextra
Mondu adds pay now element to BNPL product suite
Mondu, the fast-growing B2B Fintech, has launched Pay Now, an account-to-account (A2A) instant payment solution for B2B e-commerce. 0 This new offering complements Mondu's existing Buy Now, Pay Later (BNPL) products, providing a comprehensive payment experience for online business buyers. The European B2B e-commerce market is experiencing explosive growth, projected to reach $2.2 trillion by 2027, almost double the value in 2022. This rapid shift to online sales highlights the increasing demand for more flexible and streamlined payment solutions. As businesses adapt to this digital-first environment, digital B2B payments are becoming a crucial tool. The European B2B BNPL market is projected to grow at an annual rate of 27.5% percent, reaching $256.7 billion by 2029. Mondu's new Pay Now product is the latest addition to its BNPL suite, which includes invoice payments, instalments, and digital trade accounts, creating a holistic proposition that directly addresses market needs. Pay Now allows buyers to pay directly from their bank accounts, providing a secure and streamlined checkout experience. It enables merchants to serve all buyers, whether they are eligible for deferred payments or not. For merchants, this means a hassle-free integration that eliminates the need for a separate A2A payment provider and simplifies reconciliation. Mondu handles risk and fraud checks, provides payment confirmation, and manages all buyer communication, allowing merchants to focus on their business. Malte Huffmann, Co-CEO of Mondu, said, "We've seen immense interest from existing customers in Pay Now. Our goal is to provide a comprehensive payment solution that caters to the evolving needs of B2B buyers and sellers. With Pay Now, we offer a best-in-class experience, combining the flexibility of BNPL with the simplicity of instant payments." In just three years, Mondu has become a prominent player in the European B2B payments industry, working with leading retailers and marketplaces, including Notebooksbilliger, WirMachenDruck, GGM Gastro, Enpal, Autodoc, Solago, and Qogita.
Yahoo
15 hours ago
- Entertainment
- Yahoo
Rate and Chicago White Sox to Host Tribute Honoring Military Families at Rate Field on July 25
Rate CHICAGO, July 22, 2025 (GLOBE NEWSWIRE) -- Rate, a leading fintech company, will proudly honor America's military families during its second annual Military Appreciation Game with the Chicago White Sox at Rate Field. Held on Friday, July 25, the event will be a powerful tribute to service, sacrifice, and the enduring spirit of the armed forces. A pregame 'Take the Field' recognition will spotlight all seven Military Spouses of the Year, each representing a different branch of the U.S. military. They will be honored on the field as they meet with White Sox players at each defensive position in a moving pregame moment of appreciation and respect. The evening's Hero of the Game will be Marine Corps Captain Riley Tejcek, an active-duty officer, Olympic bobsled hopeful, author, and rising digital voice, who embodies the strength and versatility of today's military leaders. A highlight of the night will be a parachute jump into Rate Field, delivering the game ball into the hands of a military child who will throw out the ceremonial first pitch. Justin Holmes, a U.S. Air Force veteran and Nashville recording artist, will perform the National Anthem, bringing added meaning to this celebration of country and community. 'This night, honoring the military is our way of saying thank you,' said Victor Ciardelli, CEO of Rate. 'Military families are the backbone of this country, and we're proud to celebrate and serve them.' Earlier in the day, Rate will host a brunch and service project at its Chicago headquarters to welcome the honorees and connect them with company employees and leadership. The gathering will include a hands-on volunteer initiative supporting military causes. On game day, attendees will also be able to connect with key organizations at Rate Field, including: Marine Corps Recruiting Command Hiring Our Heroes United Through Reading Veterans of Foreign Wars (VFW) The evening coincides with a crosstown matchup between the White Sox and the Cubs, adding even more excitement to what is expected to be a deeply memorable occasion. This celebration is part of Rate's unwavering commitment to military families nationwide. Through its leading VA loan program, the company has waived more than $65 million in lender fees and actively supports military-focused nonprofits and educational initiatives throughout the year.
Yahoo
a day ago
- Business
- Yahoo
The strategic needs and challenges facing fintech businesses
Fintech businesses, especially those in the digital assets sector, are a fundamentally different generation of global business. Unlike more traditional sectors, they are inherently decentralised, agile and borderless, enabling them to operate across borders with speed and efficiency. While trying to conduct business in this fashion, global fintech leaders are also navigating the ongoing turbulence of the geopolitical landscape, the absence of any single standard for regulation and an uncertain macroeconomic environment. So far this year, the US has brought in a pro-crypto and blockchain Trump administration that has already put in place measures for lighter touch regulation alongside a vow to remove 'Operation Chokepoint 2.0', while the UK's Financial Conduct Authority (FCA) is assessing the future regulation of crypto asset activities. For some, this lack of clarity makes business planning a near-impossible task. BVI Finance's Destination Digital report, which surveyed 451 fintech executives, revealed that 94% of global fintech businesses view cross-border expansion as critical or important to their growth strategy, and 63% already operate through an entity in an International Finance Centre (IFC). Against this backdrop, how can they set themselves up for success? It is essential, first, to incorporate in a jurisdiction or market that is able to facilitate the level of growth required. These businesses must be dynamic and fast-paced so therefore they must be able to access global markets and capital, favourable regulatory environments, skilled workforce as well as strong financial and legal frameworks. The challenges facing fintechs As with all businesses, many fintechs face challenges as they look to scale - research shows that nearly a quarter (24%) of global fintech executives see the fragmented and ever-changing regulatory landscape as a significant hurdle. Given the global anti-incumbent election wave we will continue to witness changes to regulatory landscapes. In the past eighteen months alone, the US, UK and South Korea legislatures have all changed, creating shifting policies and uncertain business environments. When choosing where to incorporate, predictable licensing regimes, clear rule enforcement, and mechanisms for cross-border recognition allow businesses to make informed decisions and plan long-term. Something which is increasingly difficult in today's environment where economic sanctions and sudden policy shifts are common. The importance of choosing jurisdictions with stable legal frameworks and neutral political postures has elevated. What's more, it is not just about the regulatory environment, the people who service these businesses are important too. Fintech businesses require jurisdictions with local experts with the ability to navigate compliance requirements, such as Anti-Money Laundering and Know Your Client, across multiple markets, all while facilitating their growth. The role of IFCs in scaling fintech businesses IFCs can check all the boxes above – access to capital, markets and specialist advisers – so it is no surprise that nearly two-thirds of fintechs, and roughly the same share of crypto-native firms, already maintain an IFC presence. One-third (33 %) of survey respondents highlight access to international markets and banking services as decisive, while another 32 % point to a stable and business-friendly regulatory environment. IFCs provide the expertise to navigate complex compliance regimes as well as the access to international markets and investors required for international growth. Fintech businesses face a myriad of challenges but it is clear that, amongst these, cross-border growth remains a business priority and IFCs are ready to provide the support needed to capture it. IFCs offer the expertise in complex cross-border compliance policies, helping businesses overcome logistical and operational hurdles. With roughly one-third of fintechs still evaluating an IFC entry, the next wave of sector growth is likely to flow to the jurisdictions offering the clearest, most comprehensive propositions. Elise Donovan is CEO of BVI Finance "The strategic needs and challenges facing fintech businesses" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
