July 16, 2024

IPO News

Fintech IPO Index Story

The Fintech IPO index dropped by 9.1%, and now it is 44.7% lower. Triterras bucked the downdraft and made a 2.7% return. Blend crashed by 26.9% in the past five sessions, and Opendoor technologies lost beyond 24%. These are expected to create a dampening effect in real estate sectors and a few activities in the company platform.

Paymentus fell by 19.3%, and Katapult declined by 15.5%. 1StopBedrooms and Katapult stated that a partnership might help users with no or little access to credit when buying home furnishing items. 9F Group gave up 20.4%, and the company is still volatile as it navigates from the 180-day period to enlist back, following NASDAQ rules.

Affirm slipped 9.1% when the BNPL player told the world about their partnership with Intermix, a fashion boutique. They enabled customers to pay in installments for their apparel purchases at Intermix. Shares of Robinhood experienced a loss of 7% when the company stated that the USDC would be considered the primary stablecoin.

One Finance offered its services in Egypt and paid a capital worth 100 million EGP to make other businesses use BNPL models for clients. This company aims to provide an integrated user financing solution through different repayment options. The firm works in various sectors like household appliances, education fees, auto loans, home finishing, consumer goods and services, and other fields to meet the needs of Egyptian consumers.

The consumer finance services volume, which is at 15 billion EGP, is expected to rise to 50 billion at the end of 2026. In September, Walmart made an open statement saying that it offers bank-related services to 1.6 million employees with its Fintech One, a neo-bank. One provides checking and other primary bank offerings.

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


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