Open, the Bangalore-based SME-focussed neo-banking platform, has acquired a consumer neo-banking platform Finin for $10 million in a cash-and-stock deal. The Open platform currently powers around 2 million SMEs and processes over US$24 billion in annualized transactions. Every month, Open also adds over 100,000 SMEs, making it the fastest-growing SME-focused neo-banking platform globally. Meanwhile, Finin offers a savings account to enable consumers to save and invest their money. This acquisition will bolster Google-backed Open’s cloud-native enterprise business significantly. Lately, Open is witnessing demand in foreign countries like Vietnam and the Philippines, and the purchase of Finin is expected to prove helpful over there.
FinTech’s Green Revolution: Nurturing Sustainable Practices Among Small Businesses
BY Triterras
- 09/04/24
Ashish Srivastava, our Triterras' Chief Commercial Officer shares in-depth with Intelligent Fin.Tech, a global technology intelligence platform which gathers the latest financial information, on how FinTech has emerged as a crucial catalyst, motivating and supporting small to medium enterprises on their path towards environmental responsibility through sustainable trade finance.