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Tess Munsie is a senior associate at Oak HC/FT based in New York City. She focuses on early- and growth-stage investments in fintech. If there has ever been a golden age for fintech, it surely must be now. As of Q1 2021, the number of fintech startups in the U.S. crossed 10,000 for the first time ever — well more than double that if you include EMEA and APAC. There are now three fintech companies worth more than $100 billion (Paypal, Square and Shopify) with another three in the $50 billion-$100 billion club (Stripe, Adyen and Coinbase). Yet, as fintech companies have begun to go public,...

Ant Group CEO is Out as Fintech Attempts to Mollify Regulators: Report Ant Group CEO   Simon Hu has resigned from the Fintech according to multiple reports. Ant Group has seen its trajectory diminish in recent months following the decision of securities regulators to halt a pending initial public offering. Some reports linked the halted IPO to comments made by Alibaba founder Jack Ma that appeared to disparage Chinese regulatory authorities. Ant Group is an offshoot of Alibaba. According to a report by Reuters, the Board of Directors accepted Hu’s resignation. The exit is said to be part o...

Search Southeast Asian Fintech Grab Decides to Increase its Term Loan Facility to $2 Billion due to Growing Investor Demand Southeast Asian Fintech firm Grab has decided to upsize its term loan facility to $2 billion due to  growing interest from new investors. Grab, which is one of Southeast Asia’s largest “Super App” providers, confirmed the successful closing of its first senior secured term loan facility, after commitments were made by global institutional investors. The term loan facility should assist Grab with improving its liquidity and will also help diversify its funding sou...

Published on: Sunday, January 31, 2021 By: Assif Shameen Text Size: FEW could have predicted the disruption wrought by the coronavirus in 2020. Indeed, when the virus first began to engulf the world last March, nobody was bold enough to forecast how the pandemic was about to become an accelerant for technologies and tech firms around the world. Crises tend to have a transformative effect on societies. Covid-19 merely helped accelerate changes that were already in the making from the rise and rise of e-commerce platforms such as Amazon.com, grocery delivery services such as DoorDash as well as...

Egyptian fintech in 2021: The journey ahead [Part Two] Image courtesy of Shutterstock In the second part series, Michel Assaad, vice president of Europe, Middle East and Africa strategy at Citi Bank, outlines the trends that have emerged in Egypt's financial technology (fintech) space over the past year. The views expressed below belong solely to him and not his employer.    The past 10 months have been eventful, exhausting and sometimes painful. With vaccines being rolled-out, there is finally hope and a tentative timeline to get on a bumpy road to recovery. Regardless of the timing of th...