Groww To Acquire Wealthtech Startup Fisdom
Weekly APAC news up to Wednesday, 21st of May 2025.
👀 NEWS HIGHLIGHT
IPO-bound investment tech unicorn Groww has signed a definitive agreement to acquire wealthtech startup Fisdom in an all-cash deal, sources told Inc42.
The deal, which values Fisdom at about $150 Mn, is subject to regulatory approval.
“The move will bolster Groww’s capabilities and expand its offerings in the wealth management sector. With Fisdom’s expertise and established partnerships with 15 national and regional banks, including Punjab National Bank and Indian Bank, Groww will be able to enhance its offerings and expand its customer base,” one of the sources said.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🧋 REGIONAL HIGHLIGHTS
⭐️ CrediLinq raises $8.5M Series A to boost B2B embedded finance growth.
⭐️ Kakao Pay Securities integrates TradingView charts.
⭐️ Myne partners with FinTech Galaxy to launch open banking in Bahrain.
⭐️ CoinDCX Launches BitOasis In Bahrain.
SINGAPORE 🇸🇬
PayPal launches ‘Complete Payments’ solution in Singapore. Merchants can display prices in local currencies and allow customers to securely store multiple payment methods for future purchases. Keep reading
DCS and Visa roll-out micro credit card allowing stablecoin conversion for everyday use. Users can fund the card through Singapore dollar transfers or, for those already active in digital finance, by converting stablecoins such as USDT and USDC.
Singapore’s GIC seeks CCI approval to acquire 2.14% stake in Groww. Groww has been planning to raise around $200 million in its pre-IPO round. The deal could value the Bengaluru-based stockbroking platform at $6.5- 7 billion. Read more
UNITED ARAB EMIRATES 🇦🇪
Checkout.com and du Pay announce strategic partnership to power wallet top-ups supporting FinTech services. This collaboration enables du Pay to leverage Checkout.com’s robust and scalable payments infrastructure to deliver high-performance payments and elevate its core offerings.
Wio Bank PJSC announces H.E. Mansour AlMulla as new Chairman and Board appointments. These appointments will help to further accelerate Wio Bank’s growth trajectory, whilst ensuring the bank continues to drive long-term value for its stakeholders, and contribute meaningfully to the UAE’s digital economy.
Capital.com accelerates regional growth, with MENA clients accounting for more than half of the global trading volumes in Q1 2025. Thanks to the Capital.com MENA securities trading subsidiary, the Middle East contributed more than half of trading volume by global clients, making up 53% compared with Europe’s 24% share.
HONG KONG 🇭🇰
Hong Kong’s FinTech ambitions keep lawyers busy on policymaking and deals. Law firms have been advising on FinTech regulation to keep pace with innovation in digital assets. The move comes as competition from the US and other countries in the Asia-Pacific region, led by Singapore, intensifies.
INDIA 🇮🇳
China's Ant Group to sell 4% stake in India's Paytm for $242 million, term sheet shows. Ant, an affiliate of Chinese conglomerate Alibaba Group, will sell the stake at 809.75 rupees per share, a discount of 6.5% to Paytm's closing price on Monday.
Moneyview plans to launch IPO, aiming to capitalise on the region's developing startup ecosystem and the IPO market's expansion. Additionally, the company is projected to have an offer-to-sale component (OFS) that will include existing investors offloading shares of the firm.
FinTechs push AI, new protocol to simplify backend tools for merchants. Cashfree and Razorpay use AI agents and a new protocol to simplify backend systems and automate payments, easing merchant operations across FinTech platforms.
Groww to make confidential IPO filing in two weeks. The unicorn is eyeing a valuation of $7 Bn to $8 Bn for its upcoming IPO. It is also raising $150 Mn from GIC as part of a larger $250-300 Mn pre-IPO round. Continue reading
MOVERS & SHAKERS
BharatPe CTO Pankaj Goel resigns. Goel's departure comes after a tenure of less than two years at the Delhi-based FinTech unicorn. He was responsible for leading the technology team and spearheading the innovation strategy across the group of companies.