Ayannah, Equity Capital Merge; Planning for Southeast Asian Expansion

Ayannah, a Phillipino digital financial services provider, and Equity Capital Advisors, an Indian Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term company, have merged to form an entity called Ayannah Global, The Business Times reported.

The merged entity will be based in Singapore and will aim to offer affordable and accessible digital financial services to the growing middle-class demographics in the South Asian region.

The group companies did not disclose the transaction amount involved or other terms of the deal.

The retort also detailed that the new entity will be jointly led by two co-chief executives Miguel Perez, formerly the CEO of Ayannah, and Praveen Suri, formerly the CEO of Equity Capital.

Ray Ferguson, the former Standard Chartered CEO for Asia and the Middle East, has also been named as the chairman of Ayannah Global. He is the founding partner of Singapore-based Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term-focused fund manager and advisory firm Caber Partners and also chairs digital insurer Singapore Life.

Tapping the markets with massive growth potential

Ayannah Global is expected to see a user base of 10 million and a majority from India and the Philippines. It is also planning to penetrate Indonesia and Vietnam, and expand its fintech offerings suit.

It has launched Kaya, a digital marketplace connecting middle-class customers and entrepreneurs with financial institutions. The services are currently available in the Philippines and will be expanded to India, Vietnam, and Indonesia later this year.

The merged company is now looking to raise between $30 million to $50 million in a Series B funding round.

Both the companies have collectively raised $18 million and their backers include venture capital firms Wavemaker Partners, Golden Gate Ventures, and 500 Startups, along with several other Asian family offices.

Ayannah was established in 2010 and was offering services ranging from payments, remittance, insurance, and telemedicine. Equity Capital, on the other hand, was solely focused on domestic money transfers including utility bill payments, recharges, and travel ticketing.