Bikesh Lakhmichand’s Post

Turkish FinTech Colendi secures $65m funding round led by Citi Ventures Turkish FinTech startup, Colendi, has successfully raised $65m in fresh funding. This latest funding round saw participation from a diverse group of investors, including Citigroup Inc.’s venture capital arm, Migros Ticaret AS, Sepil Ventures, Re-Pie Asset Management, Finberg, and Hedef Holding, according to a report from Bloomberg. Existing investors also contributed to the Series B round. Colendi, known for its innovative digital banking and financial services, has received approval from Turkey’s banking regulator to establish a digital bank. Colendi co-founder and CEO Bulent Tekmen said, “With the oversubscribed Series B round the investment necessary for the establishment of Colendi Bank has been raised.” The Istanbul-based company, which launched a new funding round in March, aims to raise over $150m by the end of the year. Tekmen anticipates that Colendi’s value will reach $1bn once the round concludes, achieving unicorn status. Colendi has outlined a strategy to become a major digital banking entity across the EMEA, the GCC, and Turkic republics. With a current user base of 17 million in Turkey, Colendi has ambitious plans to expand to emerging markets with large populations, such as Pakistan and Indonesia, aiming for a user base of 1 billion over an unspecified period. The company also targets a dual listing in Istanbul and London, planning to be IPO-ready by 2026. News credit FinTech Global #news #dailynews #trendingnews #dailynewsletter #viralnews #dailynewsupdates #financenews #fintech

EG Bank Launches Mint FinTech Accelerator to Drive Innovation in Egypt's Financial Sector 💼 EG Bank, in partnership with the USAID-funded Egypt Business Program and DAI, has unveiled the Mint FinTech Accelerator. This initiative is part of the bank’s strategy to expand partnerships, attract a broader customer base, and solidify its leadership in Egypt's financial sector. Mint offers emerging fintech startups a unique opportunity for growth, providing them with intensive training, essential funding, and a collaborative environment to foster innovation. The program aims to strengthen partnerships between startups and EG Bank, leading to the development of innovative financial services that cater to a diverse range of customer needs. This initiative also aims to support financial inclusion in Egypt by bringing new customer segments into the financial system and creating job opportunities, marking a significant step forward in the country’s fintech landscape. #FinTech #Egypt #Innovation #EGbank #FinancialInclusion #Startups

JoPACC in partnership with the ISSF have launched an incubation program to support ... - ZAWYA: Jordan's Fintech ecosystem holds immense potential to address pressing economic and societal challenges. This program was designed to provide ...

💳 €13.5M Series A Funding for Qomodo! Italian fintech startup Qomodo, co-founded in 2023 by Gianluca Cocco and Gaetano De Maio, is reshaping merchant payment systems. With €13.5M raised in its Series A round, co-led by RTP Global and LMDV Capital, Qomodo is paving the way for smarter payment solutions for small businesses. 🔑 Key Highlights: Achieved +500% customer growth in 12 months. Raised a total of €48M, including €18M in equity and €30M in credit facilities. Empowered 2,500+ businesses with AI-powered tools for in-store and remote payments. 📍 Implications for Global Markets: Qomodo's success offers inspiration for fintech ecosystems worldwide, including emerging hubs like Tamil Nadu, where localized, tech-driven payment solutions can unlock new opportunities. 👉 Read More:- https://lnkd.in/gWm2FBza #Fintech #Qomodo #SeriesAFunding #MerchantSolutions #AIInnovation

Egyptian fintech startup Sahl has successfully raised $6 million in Series A and seed funding rounds, led by Ayady for Investment and Development, with participation from existing investors Egypt Pay, Delta Electronics Systems, and E-Finance . Founded in 2020, Sahl aims to serve as a one-stop shop for household bills, collaborating closely with government agencies to provide seamless digital payment solutions. Sahl is poised to transform into a comprehensive provider of financial services by enhancing existing offerings and developing new ones. With plans to solidify its presence in Egypt and expand regionally, Sahl is set to become a leading facilitator of digital payment transactions in Egypt’s evolving digital payments sector. Strategic alliances enable new distribution channels, collaborative technology ventures, and co-marketing opportunities. Co-founder Ibrahim Assal emphasized Sahl’s commitment to simplifying utility payments for consumers. By integrating with multiple government entities, Sahl allows users to access services from major utilities and telecom operators. Their innovative use of NFC technology ensures that consumers can charge prepaid cards from home, saving time and effort. Sahl has also expanded its reach into the B2B sector through its Services Gateway and Acceptance solution. These products enable businesses to seamlessly collect bill payment services and accept online payments, creating a more interconnected financial ecosystem. With over 12 million monthly customers and 15 million households served, Sahl is set to make significant strides in the digital payment landscape. #Sahl #Fintech #DigitalPayments #Egypt #Investment #FinancialInclusion #TechInnovation #StartupSuccess #B2C #B2B #UtilityPayments #NFC #ExpansionPlans #FundingRound To read more: https://zurl.co/p52Q

Turkish fintech startups are making waves in 2024 with a strategic pivot from customer growth to profitability, sparking increased global investor interest and promising a dynamic future for the sector. #TurkishFintech #InvestmentTrends #StartupGrowth

With the launch of the GIFT International Fintech Institute and Innovation Hub, Gujarat is shaping the future of Fintech. From nurturing startups and creating jobs to driving innovation on a global scale, this initiative marks a monumental step towards making India a global Fintech leader. #M1NXT #Fintech #GIFTFintechHub #FintechInnovation #FintechRevolution #EmpoweringStartups #GlobalFintech #SmartFinance

Sustained drive from GiFT and Gujarat Govt is creating one more lever for elevating state and country GDP. Watching this space for last 9 years and I see that this relentless drive has elevated IFSC’s ranking to ~50 rank from bottom…( about 123 such IFSC globally). Seeds of growth have now started germinating with transactional beginning across numerous financial services … Saurabh Singhal GIFTCITY FINANCIALHUB

🚀 Breaking Ground: EdfaPay Raises $5M to Revolutionize Mobile Payments! 💸🌍 🇸🇦 Saudi fintech startup EdfaPay just secured $5 million in pre-Series A funding, led by OmanTel Innovation Labs. 🏆 Founded by visionary entrepreneurs Ghormallah Al-Ghamdi and Nedal Sabbah, they're transforming how SMEs handle digital payments! 📱💳 🔑 Key Highlights: - 🌐 Expanding across Middle East, North Africa, and Pakistan - 🚀 Enabling businesses to accept payments via smartphones - 💼 Backed by top venture capital firms 📣 "This investment marks a pivotal milestone in our mission to drive financial innovation," says CEO Ghormallah Alghamdi. EdfaPay is not just changing payments—they're empowering entrepreneurs and small businesses to thrive in the digital economy! 💪🤝 #Fintech #Innovation #StartupFunding #MENA #TechEntrepreneurship https://lnkd.in/de5_97Dy

FinTech Summit Africa partners with Start-up World Cup competition for collaboration and $1 ...: FinTech Summit Africa is collaborating to support emerging start-ups and provide them with significant opportunities for development and success.