Indian fintech lender KreditBee boosts record Series C with extra $70m
KreditBee’s fresh funding also saw the exit of Finnov’s Chinese investors.
Business-to-Consumer/B2C
Revolut applies for US banking licence days after Canada exit
Revolut’s US operations are led by banking veteran Ron Oliviera.
Freetrade raising £50m Series B for European expansion
Customers have been waiting years for European expansion.
Indiana-based fintech Zoro Card builds credit through a debit card
The fintech focuses on those disproportionately affected by insufficient credit histories.
Dallas fintech Stretch to offer former prison inmates bank accounts
The start-up’s aim is to help America’s formerly incarcerated people transition back into the country’s economy.
Wise considers rare direct listing on London Stock Exchange
This would see Wise circumvent the conventional IPO process.
Australia consults industry on more “sustainable” challenger bank licence
The APRA’s consultation closes at the end of April.
Sheroes Money is banking on India’s female entrepreneurs
India is home to just two self-made female billionaires.
US fintech Sincere to target “pet parents” with debit cards
In 2019, Americans spent $95.7 billion on their pets.
NatWest’s FCA laundering charge the “first of a few” to come in 2021
The FCA is currently still investigating 6 other cases.
Wealthtech for asset managers FundSense launches in UK
FundSense licenses the platform on a per-user basis.
New central bank rules push Pakistan’s banks towards digital payments
All Pakistani banks will need to provide debit cards to users who don’t already have one.
Ikigai launches in UK to disrupt the asset percentage pricing model
Ikigai is charging a flat £10-a-month fee to early access users.
Web browser Opera hires ex-PayPal and Tencent exec to lead new fintech arm
The new EVP likens Dify’s potential to PayPal’s market disruptor status.
Revolut exits Canada after trialling beta for year and a half
Canada is a difficult market for challengers to crack.
NatWest faces FCA money laundering charge over £365m account
The bank will appear before Westminster Magistrates’ Court next month.
N26 loses 300 employees and head of HR in 12 months
The company is now trying to recruit 500 new employees by end of June.
State of play: account-to-account (A2A) payments
In-depth analysis and understanding of the market landscape by our resident fintech analyst.
Russian Big Tech Yandex launches payment service
The local internet giant plans to rival Apple Pay, Samsung Pay, and Google Pay.
Banking Technology March 2021 issue out now
Creating communities: celebrating women in fintech this Women’s History Month
South African fintech Adumo lands $15m from World Bank member
Adumo helps businesses move from cash transactions to digital payments.
London fintech WorldRemit mulls taking $1.5bn Spac listing to US
Refinitiv data shows Spac mergers have surged to a record $170 billion this year.
YAP throws hat into UAE’s digital banking ring
The start-up’s partner is National Bank of Ras Al Khaimah.
MFS Africa invests in London with all-new executive team
“London has taken up the mantle of fintech advocate and champion.”
Starling raises £272m to land unicorn status with £1.1bn valuation
The capital will boost Starling’s lending, launch Starling in Europe, and underpin M&A.
International cash transfer app Rewire lands $20m led by OurCrowd
Jerry Yang, former Yahoo! CEO and director at Alibaba, also invested.
M&S Bank closing all bank accounts and 29 in-store branches
M&S has moved towards retail-focused solutions in recent times.
Square buys majority stake in Tidal for $297m as Jay Z joins board
Tidal is the latest in a few sales Jay Z has made in recent weeks.
Orange seeks buyer for loss-making banking unit
Orange’s banking ops in trouble despite an income of €79 million last year.
Square finally launches bank after filing first application in 2017
Previously, Jack Dorsey’s fintech partnered with Celtic Bank for banking products.
ECB wants final say on stablecoin issuance under new EU regulation
This new regulation won’t apply in the UK following Brexit.
Branch closures mount with latest Bank of Ireland and TD Bank cuts
Latest branches following the pandemic-induced shift to digital channels.
Goldman’s consumer head Omer Ismail leaves for Walmart’s fintech venture
Ismail architected the firm’s move into consumer digital banking.
Robinhood pushes on with IPO plans despite facing 49 GameStop lawsuits
Robinhood has held talks with underwriters about filing “within weeks”.
Ethical challenger algbra banks on tech to define it in “fintech gold rush”
“We’re building a backend on a global level,” says co-founder.
Kalifa report says UK’s fintech crown at risk from waiting competitors
To mitigate the risks posed to UK fintechs, the report lists a number of recommendations.
Subway standardises its payments over all 42,500 restaurants globally
Subway claims it is one of the first in North America to standardise payments on this scale.
What did the GameStop saga expose about UK trading regulation?
FinTech Futures unpacks the FCA’s published response to trading restrictions on 29 January.
Aviva breaks into cash savings market with help of German fintech Raisin
Savings accounts via partner banks offer interest rates of up to 0.64% AER.
Oraan CEO: Women in finance weren’t welcomed in Pakistan
Oraan’s research found that savings – particularly for women – just wasn’t tapped into.
