Word-of-Mouth Fintech Processed Over One Billion Dollars in Payments

Welcome to TechCrunch Fintech!

This week, we’re diving into the latest developments in the fintech space. We’ll be exploring how Juicyway processed over $1 billion in cross-border payments, CarDekho SEA’s first round of external funding, and a fintech using AI to match financial advisers with prospective clients.

The Big Story

Table of Contents

How Stablecoin Technology Can Power Billions in Cross-Border Transactions

Juicyway is an African fintech that’s leveraging stablecoin technology to power fast and cheap cross-border payments. The company launched out of stealth after processing over $1 billion in transaction volume for thousands of African businesses over the last three years.

The Breakdown

Transaction Volume: Juicyway claims to have processed over 25,000 transactions, generating $1.3 billion in total payment volume from 4,000 users.
Word-of-Mouth Referrals: The company relied heavily on word-of-mouth referrals, with no publicly available app or marketing efforts.

A New Wave of Platforms

Juicyway is representative of a new wave of platforms powered by stablecoin technology that challenges conventional methods across developed and emerging markets. This innovative approach has the potential to revolutionize cross-border payments.

Dollars and Cents

Mynt Raises €22 Million in Funding

Mynt has raised €22 million in a round led by Vor Capital, bringing its total funding to around €50 million. The company is valued at roughly €200 million following this latest investment.

Upvest Announces $100 Million Series C Round

Upvest has announced a $100 million Series C round led by Hedosophia, with the company’s valuation significantly higher than its previous one.

Peak XV and HongShan Lead $10 Million Seed Investment in KAST

Peak XV and HongShan have co-led a $10 million seed investment in KAST, a dollar-denominated neobank-like platform that lets customers hold and spend stablecoins through traditional payment avenues.

CarDekho SEA Raises $60 Million in Equity

CarDekho SEA has raised $60 million in equity, valuing the company at over $300 million. This is the company’s first round of external funding, following a previous $40 million investment from parent company CarDekho Group.

Finny Raises $4.2 Million in Seed Funding

Finny has raised $4.2 million in a seed round co-led by Maple VC and HNVR to grow its engineering team and enhance its product that uses AI to match financial advisers with prospective clients.

Topics