The fintech has filed for an IPO and is set to issue fresh shares to meet its fundraising target of $304m.
,Existing investors including PayPal, Mastercard and Peak XV are also set to divest up to 147.8 shares, as stated in the filing.
,The proceeds from the IPO will be used to invest in international branches to expand the company’s presence outside of India, advance technology and reduce debt.
,
Using payments data, privacy-enhancing technologies, AI and enhanced cooperation for a behavioural-based analysis approach to detecting money laundering networks is more effective than the current rules-based approach, concludes new research from the BIS Innovation Hub.
Nubank is doubling down on its AI-first strategy with the acquisition of Silicon Valley-based data intelligence outfit Hyperplane for an undisclosed fee.
Deutsche Bank is setting up an environmental, social and governance (ESG) centre of excellence in Singapore.
Alibaba Group has cancelled its plans to spin-off its cloud division due to uncertainties from US exports on AI chips.