Ant Financial and SoftBank have expressed interest in backing a $1.2bn funding round for Paytm Money, the wealth management subsidiary of their portfolio company One97 Communications.

The OP Financial Group-backed open banking platform developer has collected $16.5m in a round that included BNP Paribas' Opera Tech unit.

GMO and Mastercard-backed online payment technology developer Razorpay has raised $75.4m at a reported $450m valuation to bring its overall funding to $107m.

GCV editor-in-chief James Mawson closed the second day of the symposium by moderating a discussion on the impact financial technology developers are having on incumbent banks.

Blockchain technology is an opportunity to change the way we see illiquid assets of ownership including venture capital, with implications for all stakeholders, according to a discussion moderated by GCV editor-in-chief James Mawson.

Power Corporation's Portag3 Ventures unit has anchored the venture capital investor and incubator's second vehicle, which will focus on financial and insurance technology.

Peer-to-peer lending platform PeopleFund has added $5m of equity and $30m of debt to a series B round that already included contributions from KakaoPay and Dayli Financial.

Iyzico has agreed to an acquisition by Naspers-owned PayU sized at $165m, after raising $24m in equity funding between 2013 and 2017 from investors including Beenos.

Cardworks and GM Ventures both signed up to back financial security platform developer Spring Labs in a round that brought the latter’s funding to nearly $38m in total.

WR Berkley Corporation led a $12.5m round for the online insurance portal, which counts Fosun, Assurant, AmTrust and Nationwide as existing investors.