April 23, 2024

IPO News

FinTech IPO Index show poor performance this month

This has been a short trading week, with no or negligible performance. To this FinTech IPO index lost 0.1%. There can be seen a slower movement in spending and investments, which is a matter of grave concern for many top companies. In early September, the index dipped to 11%, and the loss was at 40% which topped the list.

In recent news, Katapult topped the chart with a 16.8% rise as it expanded its network by adding a merchant partner, SimpleTire, an online tire retailer, to its business. This collaboration has benefited both companies; a bit more to SimpleTires consumers who have non-prime credit ratings and are unable to access other financing options. A press release regarding this partnership said, in order to replace a tire, this is the most transparent and flexible way.

Enfusion continued to rise as it gained 13.1%; according to last month’s reports, 9F Group stocks are trading below its minimum bid price, and thus a loss of 21% can be seen according to the previous month’s reports. The stocks are at 50 cents each. In the past 52 weeks (almost a year), they are off about 79%. The company has a grace period of 180 days to meet the requirements for listing.

Furthermore, Huize lost more than 11 percent, followed by Nuvei, which dipped to 3%. Nuvei was in the news this week regarding SaaS B2B and B2C market platform Arcadier, who selected Nuvei as a preferred payment partner in Europe, the U.S, the Middle East, Africa, and Latin America. The merchants will be able to tailor and customize payment flow, with more than 570 payment methods available to their checkout.

The Asia-based company Arcadier will benefit from this technology and help them expand their business globally. The company remarked that the tie-up with Arcadier has a separate announcement in which Air Transat selected Nuvei for Canadian Airlines.

Visit World Fintech News for the latest information and analysis on the financial sector and the fintech industry.

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