Five Exciting Fintech Startups in Asia

When on the subject of fintech, a lot of the talk revolves around how disruptive it is. Now, I feel “disruption” is one of the most overused words within the startup ecosystem – right up there with “ecosystem,” really. But fintech has jolted the banking industry awake, that’s true enough.

It’s not going to bring banks down, nor is it going to automatically make rich people out of the poor. What it has been able to do is kickstart much-needed innovation and shake up the status quo when it comes to individuals’ relationship with things like remittances, lending, and ecommerce. Viewed through this lens, here are five fintech startups that had a particularly good year. The list is obviously meant to be indicative rather than exhaustive, and the startups are listed in no particular order.

Fastacash

The Singaporean startup makes an API for online payments made within Facebook, Twitter, Whatsapp, and SMS. Fastacash has also worked with banks and credit card companies to enable these kinds of transactions – the results can be seen in products like Singaporean bank DBS’ Paylah app.

If quick and easy ways to transfer money online are to become the norm, successful integration into services we use every day is going to be key.

The startup raised US$15 million in its series B round last July, which makes it the fintech startup with the most funding in Southeast Asia at the moment.

Omise

Thailand’s Omise is a payment methods provider for ecommerce websites. Its product allows ecommerce merchants to accept credit card payments via a mobile and web interface and suite of APIs.

As Southeast Asia comes increasingly online and ecommerce becomes a force to be reckoned with, particularly in the region’s developing economies, offerings like this will be especially valuable to newly-minted online merchants.

Omise’s latest funding round came in October. The amount remains undisclosed, but the startup says it’s one of Golden Gate Ventures’ largest investments in Southeast Asia to date.

Paytm

The Indian online payments service has had a stellar 2015. Not only was One97, the startup that makes Paytm, backed by the likes of Alibaba and Ratan Tata this year, it’s one of Asia’s newly-minted unicorns with a US$2 billion valuation. In fact, it’s the top-funded Indian startup operating in the ecommerce space in 2015, with a total disclosed funding of US$890 million.

Paytm is used by several popular ecommerce sites in India and has also partnered with Uber in the country. One97 announced the service crossed the 100-million-user threshold in August.

Dianrong

Shanghai-based Dianrong is a peer-to-peer lending platform, crowdsourcing loans from individuals to satisfy the lending needs of other individuals and small- and medium-sized enterprises (SMEs).

The space has been exploding in China, as startups are looking to fulfill a market need that banks aren’t interested in. Dianrong, however, has managed to secure by far the most funding in this space in the country, with a series C round worth US$207 million in August, led by Standard Chartered and China Fintech Fund.

The man behind Dianrong, Soul Htite, has plenty of experience in this space as he was a co-founder of US-based Lending Club, the model for a lot of P2P lending startups in Asia.

Coins.ph

Moving money around is a huge deal in the Philippines, where a large portion of the population is unbanked – and that’s even without taking into account its millions of workers abroad. Coins.ph uses bitcoin and the blockchain to operate its ewallet service. Your bitcoin ewallet is topped up by other individual users or small retailers who act as bank tellers. They take your cash payment, convert the funds into bitcoin and transfer them into your wallet, and keep a commission. You can then use your ewallet to remit funds to anyone you choose to.

Coins.ph surpassed 1,000 repeat customers in the country in July. While that number sounds small, especially for a market the size of the Philippines, it has to be looked at through the lenses of slow but rising bitcoin adoption – along with steadily increasing smartphone usage.

Source: techinasia.com

Author: Jason Williams

Share This Post On
ATM Africa

29 Comments

  1. This is really interesting, You are a very skilled blogger. I have joined your feed and look forward to seeking more of your great post. Also, I’ve shared your site in my social networks!

  2. I am truly enjoying the theme of your blog. Do you ever come across any kind of web browser interface situations? Some of my own website visitors have complained concerning my garageband for iphone site not working appropriately in Explorer but looks fantastic in Opera. Have you got any tips to aid fix this matter?

  3. g26fF3 Very good blog! Do you have any tips and hints for aspiring writers?

  4. We are a group of volunteers and starting a new scheme in our community. Your website provided us with helpful information to work on. You’ve done a formidable process and our entire group will probably be thankful to you.

  5. Hello There. I found your weblog the use of msn. This is an extremely neatly written article. I’ll make sure to bookmark it and return to read extra of your helpful info. Thanks for the post. I will certainly return.

  6. I am really intrigued to find out what blog platform you are using? I’m experiencing a few slight safety issues with my most recent blog on bluestacks download and I would love to find something far more risk-free. Have you got any alternatives?

  7. 4WD, ATV & Off-Road Tours in Dubai: Check out 367 reviews and photos of Viator’s Dubai Desert 4×4 Safari with Quad Ride, Camel Ride, BBQ Dinner and Belly Dancing

  8. Want a sightseeing bus tour and desert safari in Dubai? Read more about this deal: it combines the main attractions with an unique desert visit.

  9. F*ckin’ amazing issues here. I am very glad to see your article. Thank you a lot and i am taking a look forward to contact you. Will you kindly drop me a e-mail?

  10. I used to be suggested this web site by
    means of my cousin. I’m no longer positive whether or not this submit
    is written through him as nobody else understand such
    distinctive approximately my problem. You are
    incredible! Thank you!

  11. I really like reading through an article that can make people think.
    Also, many thanks for permitting me to comment!

  12. Wow, this post is pleasant, my younger sister is analyzing these kinds of things, so I am going to inform
    her.

  13. This design is steller! You definitely know how
    to keep a reader entertained. Between your wit and your videos, I was almost moved to start my own blog
    (well, almost…HaHa!) Excellent job. I really enjoyed what you had to say, and more than that, how you presented
    it. Too cool!

  14. I was suggested this web site by my cousin. I am not sure whether this
    post is written by him as nobody else know such detailed about my difficulty.

    You are amazing! Thanks!

  15. It was great to read this info and I feel you’re completely right. Tell me if perhaps you are thinking about facetime windows, that’s my primary competency. I hope to see you in the near future, take good care!

  16. Thanks , I’ve recently been searching for info approximately this subject for a long time and yours is the greatest I have discovered so far. But, what concerning the conclusion? Are you sure in regards to the source?

  17. Awesome, this is what I was looking for in google

  18. There are some attention-grabbing closing dates in this article however I don’t know if I see all of them heart to heart. There’s some validity however I’ll take maintain opinion till I look into it further. Good article , thanks and we want more! Added to FeedBurner as nicely

  19. I am really intrigued to understand just what blog system you have been working with? I’m having a few small security difficulties with the latest blog on shareit download and I would love to find something a lot more risk-free. Are there any strategies?

  20. There are certainly awesome upgrades on the design of this page, I certainly love this! My own is relating to aadhar card correction and there are a lot of things to do, I’m currently a newbie in website development. Thanks!

  21. My spouse and I stumbled here by a different web page and thought I should check things out. I like what I see so now i’m following you. Look forward to checking out your web page repeatedly.

  22. At this time it sounds like Movable Type is the best blogging platform out there right now. (from what I’ve read) Is that what you are using on your blog?

  23. V5U4yp I’а†ve learn some good stuff here. Certainly price bookmarking for revisiting. I wonder how much attempt you put to make such a excellent informative site.

  24. Does your website have a contact page? I’m having problems locating it but, I’d like to send you an e-mail. I’ve got some creative ideas for your blog you might be interested in hearing. Either way, great blog and I look forward to seeing it expand over time.

  25. excellent publish, very informative. I’m wondering why the other experts of this sector don’t understand this. You should continue your writing. I’m confident, you have a great readers’ base already!

Submit a Comment

Your email address will not be published.