pwc’s fintech insights june 2018 · 3 pwc pwc’s fintech insights pwc’s fintech insights our...
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PwC’s FinTech Insights
Our insights From around the web
FinTech tales Contacts
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An exclusive look at the latest developments and evolving technologies in the FinTech space
China is one of the largest e-commerce markets and adopters of digital technologies in the world. In 2013, it overtook the US to emerge as the largest e-commerce market. In FY17, China had over 750 million Internet users and a penetration of nearly 55%. Its online retail market is expected to grow from 17% of total retail sales in 2017 to 25% by 2020. Other Asian markets such as India are on track to follow China’s growth trajectory.
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Mobile phones and the Internet have propelled the digital wave and connected billions of people. Companies across geographies and industries agree that digital is the next battle field and are gearing up their entire strategy towards digital first. As a result, for the first time in history, digital ad spends have outgrown all other channels and are expected to reach 50% of the overall advertising sales by 2020.
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AI-driven digital marketing
The continued momentum of e-commerce growth in China
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Bermuda to create new class of banks to encourage fintech
From farm to plate via blockchain: Solving agriculture supply chain problems one grain at a time
The Government of Bermuda is to amend the Banking Act to create a new class of bank specifically to cater to local fintech and blockchain companies. The British island territory is bidding to put its name on the map as an outlier destination for fintech innovation, having recently passed an ICO Bill and Digital Asset Business Act to attract companies in the blockchain and virtual currency space.
In Australia there are 85,681 farm businesses. According to the National Farmers Federation, the complete agricultural supply chain, including the affiliated food and fibre industries, provide over 1.6 million jobs to the Australian economy. Agriculture, however, is one of the least digitised sectors in Australia.
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Japanese Financial Services Agency to change crypto exchange regulations
How can fintechs help migrants?
Maharashtra to support over 500 startups under fintech policy
Japanese financial regulator the Financial Services Agency (FSA) is considering to change the legal basis for how it regulates cryptocurrency exchanges, local media Sankei reports July 3. The FSA reportedly is considering to regulate crypto exchanges by the Financial Instruments and Exchange Act (FIEA), instead of its current legal foundation, the Payment Services Act. According to Senkai, this means that the exchanges will have stronger customer protections. The FIEA obliges securities companies to manage customer funds and securities, such as stocks, separately from corporate assets.
Jim Mattis, US Defence Secretary, confirmed this week that two military bases will be used as temporary areas to house the migrants that have entered the US at the Texas border. While it was not confirmed that children will be housed with their families, Trump called for deportations without a judicial process on Twitter.
The Maharashtra government said it is seeking to add over 500 startups to its registry so that they can participate in government projects and policies.
“As far as the road ahead is concerned, we envisage that in near future we will at least have 500 FinTech startups which are enabled, stable, have successful sizeable funding and are going to make India and Maharashtra proud,” Joint secretary and officer on special duty to Chief Minister Kaustubh Dhavse said.
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News on recent investments, partnerships and acquisitions in FinTech in India
Company Automation Anywhere
Sector Robotics process automation
Ticket size 250 million USD
Investor(s) NEA and Goldman Sachs Growth Equity
Company overviewAutomation Anywhere empowers companies with robotic process automation to automate virtually anything.
Source: https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/automation-anywhere-raises-250-million-in-series-a-round-to-join-the-billion-dollar-plus-club/articleshow/64849330.cms
Company Policy Bazaar
Sector Insurance aggregator
Ticket size 200 million USD
Investor(s) SoftBank Vision Funds
Company overview
Policybazaar is India’s leading insurance aggregator website. It specialises in conducting comparative analysis of insurance products of various insurance policies based on price, quality and key benefits.
Source: https://www.thenewsminute.com/article/policybazaar-raises-200-million-softbank-vision-fund-attains-unicorn-status-83678
Investments
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Company SigTuple
Sector Health technology
Ticket size 19 million USD
Investor(s) Accel Partners and IDG Ventures
Company overviewSigTuple uses artificial intelligence to develop hardware and software to digitise pathological tests for hospitals and clinics.
Source: https://www.livemint.com/Money/zrhKnyN6IInE6Na8Rl3zTM/SigTuple-raises-19-million-from-Accel-IDG-others.html
Company Drip Capital
Sector Lending
Ticket size 15 million USD
Investor(s) Sequoia Capital, Accel Partners & others
Company overview
Drip Capital offers a unique trade financing product targeted towards SMEs in developing markets. Their comprehensive and automated risk assessment model gives rapidly growing SMEs quick and easy access to finance.
Source: https://tech.economictimes.indiatimes.com/news/startups/drip-capital-raises-15m-from-sequoia-capital-accel-partners-and-others/64675078
InvestmentsNews on recent investments, partnerships and acquisitions in FinTech in India
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Company CredAble
Sector Supply chain financing
Ticket size 14.8 million USD
Investor(s) Alpha Capital
Company overviewCredAble combines technology, financing, deep learning, and analytics to dynamically create innovative supply chain financing products.
Source: https://inc42.com/buzz/fintech-startup-credable-raises-14-8-mn-in-series-a-funding-from-alpha-capital/
Company SMEcorner
Sector Lending
Ticket size 7 million USD
Investor(s) Capital First, Accion Ventures
Company overviewSMEcorner is an online platform that enables small and medium enterprises to access loans from banks and NBFCs.
Source: https://economictimes.indiatimes.com/small-biz/sme-sector/smecorner-raises-7-million-from-capital-first-accion-ventures-others/articleshow/64658388.cms
InvestmentsNews on recent investments, partnerships and acquisitions in FinTech in India
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Company Sqrrl Fintech
Sector Investment
Ticket size 1 million USD
Investor(s) Equanimity Ventures Fund
Company overview
Sqrrl is a digital platform aimed at millennials. It help them save and grow their money effortlessly. Sqrrl has several tie-ups with multiple funds partners.
Source: https://www.thehindu.com/business/sqrrl-fintech-raises-1-million-from-equanimity-ventures-fund/article24273144.ece
InvestmentsNews on recent investments, partnerships and acquisitions in FinTech in India
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PartnershipsNews on recent investments, partnerships and acquisitions in FinTech in India
Start-up TerraPay
Partnered with Yes Bank
Sector Payments
PurposeTo enable real-time money transfer to bank accounts in India using by TerraPay’s global clearing and settlement service.
Source: https://economictimes.indiatimes.com/industry/banking/finance/banking/yes-bank-partners-with-terrapay-for-faster-international-remittance/articleshow/59144852.cms
Start-up PhonePe
Partnered with Goibibo
Sector Payments
PurposeTo provide a unified login and payments experience to over 100 million PhonePe users while making their hotel bookings via Goibibo.
Source: https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/goibibo-partners-with-phonepe-for-hotel-bookings/articleshow/64682504.cms
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News on recent investments, partnerships and acquisitions in FinTech in India
Start-up PhonePe
Partnered with Ola
Sector Payments
PurposeTo allow Ola users to book their rides using PhonePe’s payment platform.
Source: https://www.moneycontrol.com/news/business/flipkart-owned-phonepe-partners-with-ola-2592031.html
Start-up Payworld
Partnered with Reliance Mutual Funds
Sector Payments
PurposeTo encourage the rural and semi-urban population to start investing in mutual funds.
Source: https://tech.economictimes.indiatimes.com/news/internet/payworld-partners-with-reliance-mf-to-sell-mutual-funds/64641822
Partnerships
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News on recent investments, partnerships and acquisitions in FinTech in India
Start-up Chqbook
Partnered with METRO Cash & Carry
Sector Financial services
PurposeTo offer a range of financial products and solutions to its more than three million transacting customer base.
Source: https://tech.economictimes.indiatimes.com/news/corporate/metro-cash-carry-india-partners-chqbook-to-offer-financial-services-to-smes/64826151
Partnerships
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News on recent investments, partnerships and acquisitions in FinTech in India
Start-up Chillr
Partnered with Truecaller
Sector Payments
PurposeTo help Chillr to roll out credit and financial services to its Indian user base.
Source: https://timesofindia.indiatimes.com/business/india-business/truecaller-acquires-payments-startup-chillr/articleshow/64579911.cms
Start-up Cube26
Partnered with Paytm
Sector Payments
PurposeTo add more social engagement features to Paytm’s products and services and improve its customer service.
Source: https://inc42.com/buzz/tiger-global-and-flipkart-backed-cube26-team-gets-merged-with-paytm/
Acquisitions
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News on recent investments, partnerships and acquisitions in FinTech in India
Start-up Simility
Partnered with PayPal
Sector Fraud prevention
PurposeTo deliver new fraud prevention features and risk management solutions to merchants globally.
Source: https://techstory.in/paypal-acquire-simility-2018/
Acquisitions
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Leadership
Contributors
Vivek Belgavi Partner and India FinTech Leader Email: [email protected]
Vaidison Krishnamurty Partner, Deals
Joydeep K Roy Partner, Insurance and Allied Businesses
Richa GaurStrategy Consultant, FinTech
Krunal KapadiyaStrategy Consultant, FinTech
Nissar BeheraStrategy Consultant, FinTech
Zubin TaftiAssociate Director, FinTech and Innovation Strategy Email: [email protected] Phone: +91-9820358735
Shekhar Lele Principal Consultant Financial services – Payments and FinTech
Harshal Kamdar Partner, Tax and Regulatory Services
Vivek IyerPartner, Risk Assurance
Kuntal Sur Partner and Leader Financial Services – Risk and Regulation
Gaurav AroraStrategy Consultant, FinTech
Aiman FarazStrategy Consultant, FinTech
Pratik PathrabeStrategy Consultant, FinTech
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AW/July 2018-13746