Airwallex and Stripe, once close enough for a potential acquisition, are now moving into direct competition across overlapping markets. The two payments companies, which historically operated in distinct geographies and served different customer segments, are increasingly targeting the same buyers as both expand their global footprints. Stripe has long dominated among Western technology companies and startups, while Airwallex built its base across Asia-Pacific before pushing into Europe and North America. That geographic separation is eroding. Airwallex has been scaling its cross-border payments and financial infrastructure products in markets where Stripe is entrenched, while Stripe has pushed deeper into international corridors where Airwallex holds relationships. The competitive dynamic matters for enterprise buyers evaluating multi-currency payment infrastructure: pricing pressure and feature parity between the two could improve switching leverage for customers. For investors, the collision raises questions about margin sustainability as both companies compete for the same contract pipeline. Watch for product roadmap convergence, sales team overlap in key markets, and whether either company pursues partnerships or acquisitions to accelerate displacement of the other.
HDFC Bank's board has approved Rajiv Kumar, former Chief Election Commissioner and financial services secretary, as its Part-time Non-Executive Chairman from June 30, 2026. His chairmanship still requires RBI approval, but the move ends the bank's prolonged search for a permanent board leader.
Indian startups raised $1.1 billion across 16 deals in the week of June 21-26, 2026, up 2.5 times from the prior week, with CRED's $900 million Series H led by Meta accounting for most of the total. Square Yards became India's 131st unicorn after closing a $95 million round.
Jet fuel costs dropped sharply after a US-Iran interim peace deal, but airlines are expected to use the savings to rebuild margins rather than cut fares. Tight capacity, aircraft delivery delays, and weak budget carriers give major carriers unusual pricing power heading into the second half of 2026.
Meta is investing $900 million in CRED at a $4.5 billion valuation, the largest Indian startup round of 2026, as founder Kunal Shah moves to a global leadership role at WhatsApp. Miten Sampat takes over as interim CEO, and a major employee stock buyback is expected within weeks.
