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In this edition, I’m going to look at a fintech being sold in a fire sale, a group of startup raises, and more! In mid-May, TC’s Manish Singh reported that founders of ZestMoney had resigned from the startup. The Indian fintech, whose ability to underwrite small ticket loans to first-time internet customers, once drew the backing of many high-profile investors, including Goldman Sachs.
Karachi-based Fintech firm Safepay has reportedly acquired seed funding from global financial technology company Stripe. Safepay hasn’t disclosed the amount it has received but claims that it’s a seven-figure (USD) amount. Other local and international investors also took part in the Pakistani Fintech firm’s investment round. As first reported by Menabytes, the round includes contributions from Berlin-headquartered Global Founders Capital (which recently made investments in Bazaar), US-based HOF Capital, Soma Capital, and Mantis Venture Capital. Pakistan’s VC Fatima Gobi Ventures pa...