Fintech Daily Briefing

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The following is the Fintech Daily Information Briefing on [February 24, 2021] recommended by And this article belongs to the classification: Fintech Daily Briefing.

[1]. Tyme, the South African digital bank, has won US $110 million in round B financing and intends to enter the Southeast Asian market in the future

On February 23, 2021, South African digital bank Tyme announced that it would obtain US $110 million in round B financing. This financing is jointly provided by the famous emerging market private equity management company APIs Growth Fund II and the owners of JG summit holdings, a well-known enterprise group in Southeast Asia. Tyme was officially launched in February 2019 and has successfully attracted more than 2.8 million users. It is reported that this financing will be mainly used for the further development of Tyme digital bank in South Africa. In addition, JG summit holdings and Tyme will also jointly apply for a digital banking license from the Central Bank of the Philippines to prepare for the development of the digital inclusive financial market in the Philippines and even the whole Southeast Asia.

[2]. Klarna, a “buy before pay” service provider, may plan to go public directly

In September 2020, klanna, a Swedish “buy before pay” service provider, completed financing of US $650 million, with a platform valuation of US $11 billion. Recently, according to people familiar with the matter, klarna is conducting a new round of financing negotiations, which is expected to be completed in a few days, with a scale of at least US $500 million. Sebastian siemiatkowski, the company’s chief executive, declined to comment on the financing, but said klanna might choose to go public directly to avoid the expensive marketing process of the traditional stock market.

[3]. Penta, a German Digital Banking service platform, received another 7.5 million euro round B financing

Recently, penta, a Berlin Based Digital Banking Service Platform for small and medium-sized enterprises and start-ups, received another 7.5 million euros in financing. It is reported that this financing is part of its round B financing, led by anb AMRO ventures and participated by finleap, HV capital and s7v. After the completion of this financing, the accumulated financing amount of the platform has reached 30 million euros, and the total number of enterprise users has exceeded 25000. In the future, penta will use this financing to continue to increase product research and development, and expand the scope of account services for independent traders, freelancers and other users.

[4]. Insurance technology venture Oscar health determines IPO pricing

On February 22, 2021, according to relevant regulatory documents, Oscar health, a US health insurance technology venture, plans to issue 31 million shares, priced between $32 and $34 per share. On February 5, 2021, Oscar health submitted S-1 registration documents to the US stock exchange. According to the document, the total revenue of Oscar health in 2019 exceeded US $488 million, an increase of about 5% over 2018, and the loss of the same period also decreased. At present, the total number of users of Oscar health is 529000, distributed in 18 states of the United States. Oscar health mainly provides free remote virtual diagnosis and treatment appointment and medical insurance services for adults. Just last week, Circulo, an insurance technology venture also from the United States, was officially launched and received $50 million in financing. The main target group of the platform is the growing young generation.

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