5 FinTech funding rounds that occurred in APAC in March 2023

By Leandra Monteiro

The rise of new FinTech start-ups, new-to-bank population, and technological advancements have paved the way for an upsurge in FinTech evolution. FinTechs are becoming mainstream with more investment made than ever before. Tracking FinTech investments provides a better perspective on the competitive and strategic trends in the industry.

Below are five notable FinTech funding rounds in APAC in the month of March 2023:

• PhonePe raises $200m

PhonePe, one of India’s largest FinTech platforms, announced it has raised additional $200 million in primary capital from Walmart, at a pre-money valuation of $12 billion.

This new funding comes as a part of PhonePe’s ongoing fundraise of up to $1 billion in capital, following its domicile shift to India last year. With this tranche, the company has raised $650 million from several global investors. The company expects further investments, which will be announced in due course.

• Till Payments secures $70m

Till Payments announced that it has raised $70 million (AUD) in its most recent Series D funding round led by Silva Fortune.

With a fresh focus on sustainable growth and fast-tracking profitability, Till is poised for an exciting new chapter, commencing with the immediate launch of Till’s new Core Acquiring Platform. Till has seen a 300% increase in transaction volumes and a 200% increase in its merchant base over the past 12 months.

• Mystifly raises $8m

Singapore-based Mystifly, a vertical SaaS and marketplace provider for the airline industry announced the conclusion of Pre-Series B funding with CSVP (Cornerstone Venture Partners) bringing the total of this round to $8 million combined with earlier investments from RSI Fund I. LLC (a subsidiary of Recruit Co. Ltd.), Jenfi & Crusade Partners among others.

With this Pre-series B funding, Mystifly plans to extend the market reach of its SaaS products and services. The company is poised for growth and looks forward to delivering even greater value to its customers and partners.

• iLex raises $4.5m

iLex, a market infrastructure provider for syndicated loan and private debt markets, announced it has raised $4.5 million in new capital. The round was led by QBN Capital, with participation from existing and new investors. This brings iLex’s total equity fundraising to $8.5 million.

The funding will be used to accelerate iLex’s product roadmap and client acquisition across Asia Pacific and EMEA, as well as to expand the team to drive user adoption.

• Finsire raises $1.3m

Chennai-based lending Infratech and asset collateralization API FinTech Company, Finsire announced that it has raised $1.3 million in seed funding from Strategic Investors.

The round saw participation from iSeed, Spark Capital, Devx, 1947 Rise, Adept ventures, Portal Angel Investors, Purple Matters, DeVC India, Lets Ventures, Shashank Kumar and Harshil Mathur, Co-Founders of Razorpay and many more.