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Upstart Shares Plunge 31% on Reduced Lending Demand

World Fintech News February 19, 2023 0

The FinTech IPO Index experienced an 8% loss for the week due to the underperformance of lenders and platforms. However, the group remained in positive state till today, with a 24.6% rise. One of the decliners in the FinTech stock was Affirm, which reported a 17% loss on Thursday. The

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Learn How Paytm’s Success Fuels IPO Speculation

World Fintech News February 18, 2023 0

Paytm, the Indian fintech giant has reported continued growth in its loan disbursement sector. In January 2023, Paytm disbursed 38.65 lakh loans worth INR 3,928 crore, marking a 327% increase in value and a 103% increase in the number of loans disbursed year-on-year. In Q3 FY23, Paytm’s merchant gross merchandise volume (GMV) rose 38% to […]

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IPO News on BNPL Sector Facing Hurdles

World Fintech News February 14, 2023 0

Openpay, an Australian buy-now-pay-later (BNPL) firm, has fallen into receivership after announcing record quarterly results. As per the latest IPO news, the revenue and TTV of the firm grew by almost 50% to AUD126m and AUD10.1m, respectively. Openpay requested a trading suspension on the Australian Securities Exchange due to discussions with its financiers. Yaniv Meydan,

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Fintech Layoffs: Even Well-Funded IPOs Affected

World Fintech News February 12, 2023 0

The fintech industry is still experiencing layoffs. PayPal recently announced that it would lay off 2,000 full-time employees, which amounts to about 7% of its workforce. PayPal CEO Dan Schulman noted that while the company had made significant progress in reshaping and strengthening its cost structure over the past year, it had more work. SoFi […]

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Nasdaq IPO: Chinese Tech Group Sees Revival in Offshore Listings

World Fintech News February 8, 2023 0

Executives at the New York Stock Exchange are hopeful that the listing of a Shanghai-based producer of automotive sensors on the Nasdaq exchange will help defuse tensions that have prevented Chinese companies from going public in the United States for over two years. On Wednesday, Hesai Technology, a provider of laser-based sensors to automakers and […]

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IPO News: Coinbase Slumps as SEC Tightens Crypto Staking Regulations

World Fintech News February 8, 2023 0

The biggest US cryptocurrency exchange, Coinbase Global Inc., had its stock price drop the most in over six months after competitor Kraken was compelled to discontinue offering an investing option similar to one provided by Coinbase. Kraken has agreed to cease offering its crypto staking products in the United States and pays $30 million to […]

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Razorpay Considers Going Public in 2 or 3 Years

World Fintech News January 25, 2023 0

Bangalore-based fintech firm Razorpay announced that the company plans to go public within the next 2 or 3 years. Shashank Kumar and Harshil Mathur, Razorpay’s founders, said that despite the company’s 100% annual revenue growth, it does not need any additional capital to go public. Currently, the company has a valuation of $7.5 billion and […]

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IPOs to Bet on in 2023

World Fintech News January 11, 2023 0

As per the latest stock news, a few of the best IPOs are expected to go public in 2023. With 178 Initial Public Offerings as of December 26, 2022, it was a different banner year for US initial public offerings. This is an 83% decrease from the 1,035 IPOs in 2021. This decline also put […]

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FinTech IPO Index Down 5.5% as 3Q Earnings Roll Out

World Fintech News October 25, 2022 0

The FinTech IPO index decreased 5.5% following third-quarter earnings reports. Despite some individual companies experiencing growth, the overall index has dropped 46.6% this year. The earnings season is currently underway, giving us an insight into consumer spending and the demand for services such as BNPL loans and digital banking integration. Gainers 9F Group saw a […]

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DEWA & EPIC Offers 10% Stake in Empower in their 4th Government-linked IPO

World Fintech News October 24, 2022 0

The Dubai Electricity and Water Authority (DEWA) and Emirates Power Investment Company (EPIC) will issue a 10% stake in Empower in their fourth government-linked IPO this year. The subscription period will begin on October 31 and end on November 7. Dubai intends to issue 10% or 1 billion shares of Emirates Central Cooling Systems Corporation […]