/
•
•
Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Regulatory curbs have forced Open Financial Technologies to shed some of its core neobanking offerings and focus on growing as a SaaS fintech. But success in this segment won’t come easy.
When Open Financial Technologies launched in 2017, it made a bold promise: a completely digitized banking experience with no physical branches or paperwork, all through one seamless interface. On the back of that ambition, within five years, the Bengaluru-based startup became the first neobank in India to join the coveted unicorn club. But the halcyon days seem to be over.
Eight years on, the numbers hardly inspire confidence, with profitability nowhere in sight. In the year ended March 2025, Open reported a top line of Rs 58 crore ($6.6 million), a marginal increase of 3.5% from 2021-22. And while its …
The UAE is looking at its first public listing of the year while Egypt just delivered a big one; OpenAI’s bugging accused has ties to Saudi Arabia; and other updates from the week.
Billionaire Mohamed Alabbar goes for the Indian Ocean archipelago, India’s PhonePe gets UAE approval, and other updates from the week.
Europe’s largest fintech firm has its sights set on the Emirates. What can we expect?
