Challenger Envel plans “autonomous” banking with Autumn launch
The fintech claims it will “optimise” users’ money.
Business-to-Consumer/B2C
Black-led UK challenger Atmen is raising half a million
The fintech will launch within six to eight weeks of closing its crowdfund.
CleverCards CEO: There’s only going to be one winning challenger bank
CleverCard’s Kealan Lennon reckons the market isn’t big enough for so many neobanks.
SEB combines personal and business finance to launch Unquo
The new venture is spearheaded by Christoffer Malmer, head of SEBx.
US neobank Chime set to more than double in value to $15bn
The new valuation would pit Chime ahead of Brazilian neobank Nubank.
German fintech lender Monedo files for bankruptcy
Founded in 2012, Monedo was called Kreditech until earlier this year.
Subaio launches outside Nordic home with ABN Amro
To date, the 25-person fintech has signed contracts with seven banks.
AFME: EU must focus regulatory efforts on emerging technology
The AFME focuses on crypto-assets, artificial intelligence and cloud computing.
Ex-N26 employee lands $1.8m to launch ETF-linked checking account
“This is an everyday account, we don’t want you to risk your money,” says CEO.
Glint launches P2P service months after takeover saga
The gold wallet has launched a new service amid claims of a string of record months.
FinovateFall 2020: COVID-19 a chance to build, not just react
“Companies need to leverage this inflection point correctly.”
Santander spins out Innoventures successor Mouro Capital with $400m
The bank has doubled its investment into its VC arm.
Mastercard unveils virtual CBDC testing environment
A switch in tactic from Mastercard, which wasn’t always in favour of CBDCs.
Regulatory sandbox at heart of Egyptian fintech boom
“For the first time, we are seeing a key dialogue with central players,” says Paymob.
Hungarian fintech PeasyPay continues hand and face payment roll out
In the UK, the start-up is working with taxi drivers in Glasgow.
Fintech Mode joins Hut Group wave with London IPO listing
Mode anticipates a valuation of around £40 million.
GoCardless bags new chief revenue officer to tap enterprise space
The fintech is currently drawing back its growth to preserve cash.
Klarna set to nearly double valuation to $10bn
Klarna is looking to raise half a billion from a mixture of new and old investors.
UK crime agency criticised for inaction over alleged bank forgery
“You can’t ‘assess’ for 15 months.”
Ex-Starling CTO’s start-up Ziglu launches crypto P2P payments
Ziglu insures digital assets against cyberattacks.
To win the battle of banking, you need a digital war room
Here, banks can get visibility into every single process in their business as they actually behave.
Vanquis Bank partners with NatWest’s Payit
Payit was built by London-based, RBS-backed fintech, Pollinate.
Monzo introduces ATM withdrawal fees
Users may have to pay a fee when withdrawing upwards of £250 from an ATM.
Trade Republic launches share savings plan to rival incumbents
It claims to be the first to bring consumers the service for free.
Singapore fintech GoBear lays off 11% of workforce
The fintech landed $17 million in May,
Brazilian challenger Nubank lands $300m
The raise was spotted in a SEC filing.
Four US digital trading apps experienced technical issues this week
It’s rare for as many as four digital brokerage platforms to experience issues all at the same time.
Aussie BNPL Zip closes $296m acquisition of US player QuadPay
“The US is a critical part of our global strategy,” says CEO.
Singapore’s cross-border transfer fintech Nium lands EMI in UK
Nium evolved from a consumer remittance service to a B2B offering.
Pan-African challenger Union54 to launch in 2021
Both Union54 and Zazu were founded by Perseus Mlambo.
Singapore fintech Atlantis enters India with challenger Neo
Atlantis believes market adoption in India will be particularly successful.
Revolut customers got paid late last week after technical glitch
Several users said they couldn’t get through to an agent.
Singapore firm Razer reveals overseas digital bank plans
“With a digital bank, being more nimble, we want to build a global business”.
NerdWallet steps outside US, acquires UK’s Know Your Money
Know Your Money had some five million consumers and 1.2 million business clients in 2019.
Swiss challenger Neon lands $5.5m, bags new investor in Helvetia
“The cooperation with Neon gives Helvetia the opportunity to access new customers.”
Spanish sustainability fintech Mitto to launch in UK next year
“Every payment counts and determines the world we live in.”
Klarna’s losses widen following first year of negative profit
Profits have been slowly declining for the company.
Video: Top fintech stories this week – 28 August 2020
FinTech Futures’ weekly news round-up.
US credit fintech for minorities Esusu lands £2.3m
More than 5,000 renters in the US have applied for Esusu.
Fronted lands seed investment from Monzo-backer Passion Capital
Fronted wants to help renters finance their rental deposits.
