Fintech

With significant investment from Western Union, STC will convert its subsidiary STC Pay into a digital bank, STC Bank, with capital of USD 670 million.

Started in 2019, Tabby offers interest-free BNPL services in the United Arab Emirates and Saudi Arabia.

Haryopratomo left GoPay after three years leading the fintech division. He’s now working with other entrepreneurs to make changes in other industries.

Amid several unsuccessful ventures, Singtel is looking to make strategic investments in a variety of startups as part of its “strategic reset.”

Kredivo CEO Umang Rustagi said the funds will help the company reach its target of 10 million users in the country.

The number of crypto investors in Indonesia now exceeds its 2.2 million stock traders, per data released in March by the Indonesian Stock Exchange.

Open banking initiatives benefit “embedded fintech” solutions that are set to grow into a USD 3.6 trillion market, according to Bain Capital.

In May, Walmart-owned PhonePe signed the term sheet to acquire an over 90% stake in Indus OS, to boost its super app dream on the back of the latter’s content and app discovery platform.