Hi fintech friends,

Please enjoy all the news and updates from the past week in today’s edition. If you feel TWIF brings you value, please share it with your friends (and maybe suggest they subscribe too).

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🦉🏆 Tweets of the Week

🇮🇳 India

📰 Market Updates

1. Paytm posted revenue growth of 42% YoY to $251mm (INR 2062cr) for the quarter ended Dec, 2022.
2. Indian government banned several digital lending apps including LazyPay, Kissht and others. Later in the week, it was announced that the ban on some of the banned apps will be lifted.
3. PhonePe's revenue grew to INR 1,913cr ($ 233mm) for the period Jan to Sept 2022.
4. Perfios reported 88% YoY growth to INR 136Cr ($16.6mm) revenue in FY22 (ending Mar 2022).
5. Setu reportedly crossed processing 10mm bills per months on the Bharat Bill Payment System (BBPS) becoming the 2nd largest TSP for BBPS.

🚀 Product Launches

1. PhonePe launched UPI payments for Indians traveling to select countries.
2. Easebuzz launched Payment Plus, a SaaS platform for businesses to manage their finances.
3. Ujjivan Small Finance Bank launched Hello Ujjivan, a mobile banking app for voice, visual and regional language-based banking.
4. Paytm launched a product to link one's RuPay Credit Card with UPI.

📝 Regulatory Updates

RBI (central bank): Released a special statement on the health of the Indian Banking Sector. Allowed inbound travelers, initially from G20 countries, to use UPI payments for merchant payments in India. Claimed that RBI's digital currency pilot has 50,000 users and 5,000 merchants.

💰 Financing Announcement

(there were no financing announcements in fintech. Did I miss any? Write to me)

ACQUISITIONS:

1. LendingKart acquired Upwards, a consumer credit startup, for $ 14.6mm (INR 120crs).

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🌏 Asia

📰 Market Updates

1. Ping An's NYSE-listed fintech company applied for secondary listing in Hong Kong.
2. FinAccel, owner of Indonesia's largest BNPL product Kredivo, is expected to launch its digital bank in March, 2023.

💰 Financing Announcements

1. SeABank, a Vietnamese bank, raised $100mm.
2. Monix, a Thai digital lending startup that operates Finnix, raised $20mm.
3. Tazapay, a Singaporean cross border payments startup for small businesses, raised $17mm.
4. Cenoa, a Singaporean cross border payments startup for retail users, raised $7mm.
5. Habitto, a Japanese financial habit forming startup, raised $3.9mm.
6. CrediLinq.Ai, a Singaporean B2B financing startup, raised an undisclosed amount.

🌏 International

Please find our global coverage and consider subscribing.

• US and Global, written by Nik Milanovic.
• Europe and UK, written by Michael Jenkins.
• Latin America, written by Christine Chang.
• Africa, written by Emeka Ajene.
• China written by Ning Ye.
• Policy written by Mohammad Hamdy.

And of course, our podcast series - Beyond Two Percent and Hey Fintech Friends.

If you’ve made it this far - thanks! As always, you can always reach me at osborne@thisweekinfintech.com. I’d genuinely appreciate any and all feedback. If you liked what you read, please consider sharing or subscribing.

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