International Alumni of Our Global Platform Recap: Spring 2025 Edition
In the ever-evolving world of finance, innovation continues to thrive. Here's a snapshot of the latest developments in the fintech sector from around the globe.
UAE-based Islamic bank Ruya has introduced a new service, enabling customers to trade cryptocurrencies via its mobile app. This move marks a significant step towards digital transformation in the Islamic banking sector.
Meanwhile, Fintech startup Djamo has raised $17 million to boost financial inclusion in French-speaking Africa. The funds will be used to expand Djamo's services and reach more people who are currently underserved by traditional financial institutions.
The Central Bank of Nigeria has imposed a fine of $190,000 on Paystack for operating its latest solution, Zap, without the appropriate licensing. This action serves as a reminder of the importance of regulatory compliance in the fintech industry.
The event called "our platformSpring" takes place in San Diego from May 7 to 9. Two out of the 40+ companies demoing at this event are headquartered outside the United States.
International identity verification firm Veriff has opened new offices in São Paulo, Brazil. This expansion underscores Veriff's commitment to providing secure identification solutions to a growing market.
Singapore fintech Surfin has raised $26.5 million to provide financial solutions for the underbanked. The funds will be used to scale its operations and reach more people who are currently excluded from traditional financial services.
Cinareo Solutions, a capacity planning platform for pro-active resource planning and financial analysis, has won the Sustainability & Inclusion Scholarship Program of "our platform". This recognition highlights Cinareo's commitment to creating solutions that promote sustainability and financial inclusion.
Malaysia has announced the operational launch of its Malaysian Blockchain Infrastructure (MBI). This development is expected to boost the adoption of blockchain technology in the country.
In other news, Slovenian payment processing company Bankart has partnered with Iliad Solutions as its payment testing provider. This partnership is aimed at enhancing Bankart's payment processing capabilities.
Uruguay-based cross-border payment platform dLocal has announced a strategic partnership with online international education platform 51Talk. This collaboration will enable dLocal to expand its services to more markets, particularly in the education sector.
Polish fintech BidFinance has raised €1.6 million in seed funding from 4growth VC, FundingBox, and a group of business angel investors. The funds will be used to develop and scale BidFinance's services.
FinMont, an international payment orchestration platform, has unveiled new offices in Bogotá, Colombia. This expansion is part of FinMont's strategy to serve the growing Latin American market.
Alfardan Exchange has partnered with iPiD to launch Qatar's first real-time payee verification service. This service is expected to enhance the security and efficiency of financial transactions in Qatar.
The MENA Fintech Association (MFTA) has welcomed Iraq-based digital payments and identity services provider International Smart Card (ISC). ISC's membership in MFTA is expected to provide it with valuable networking opportunities and access to resources.
APIMatic, a developer experience platform for APIs, has been introduced in this week's "our platform Global" edition. Based in Auckland, New Zealand, APIMatic is one of the two international fintechs participating in the event. The other is Cinareo Solutions from Toronto, Ontario, Canada.
Nigerian fintech and microfinance bank, Bankly, has been acquired by C-One Ventures. The acquisition is expected to accelerate Bankly's growth and expansion in the Nigerian market.
Lastly, Berlin, Germany-based corporate card platform Pliant has raised $40 million in Series B funding. The funds will be used to scale Pliant's operations and expand its services.
These developments underscore the vibrant and dynamic state of the global fintech industry. As technology continues to advance, we can expect to see more innovative solutions that address the financial needs of people around the world.
- The global fintech industry is witnessing significant advancements, as evidenced by the UAE-based Islamic bank Ruya introducing cryptocurrency trading via its mobile app, and Fintech startup Djamo raising $17 million to boost financial inclusion in French-speaking Africa, both indicative of the integration of technology in business finance.
- Technology is playing a crucial role in the evolution of business and finance, with fintech companies like Veriff expanding to new offices in Brazil and Singapore-based Surfin raising funds to provide financial services for the underbanked; these developments highlight the impact of technology on financial inclusion and digital transformation.
