SME paytech SumUp raises €590m at €8bn valuation
SumUp says the latest funding is “indicative of our strength, execution, and potential”.
Cards
Stashfin lands $270m in Series C funding to expand in Asia
Stashfin says it will use the new money to expand its footprint across South and Southeast Asia.
Payment Systems Regulator outlines upcoming card fee market reviews
Both reviews focus on Mastercard and Visa; the pair make up 99% of debit and credit card payments in the UK.
Brex to stop serving “traditional” small businesses
Small businesses using Brex have until August 15 to move their funds.
Reserve Bank of India lifts ban on Mastercard onboarding new customers
RBI had imposed a ban on Mastercard in July 2021 for non-compliance.
FinTech Futures: Top five stories of the week – 17 June 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Fintech for migrants Rewire acquires prepaid card provider Imagen
Imagen is Rewire’s first acquisition and will enable it to provide prepaid debit cards in Israel.
Fintech Zytara partners deadmau5 to create branded banking solution
deadmau5 will join Zytara’s advisory board “to help enhance the creative direction for Zytara moving forward”.
Money 20/20 Europe: Digiseq connects the digital and physical world
At Money 20/20 Europe, FinTech Futures sat down with David Birch, chair of wearable payments disruptor Digiseq.
Nuula launches operations in Canada for small business owners
Nuula provides financial products and services to small business owners.
Layoffs and hires: Curve, Gemini and Citigroup
Curve and Gemini lay off employees, while Citi plans on hiring 4,000 techies.
MENA’s BaaS provider NymCard raises $22.5m funding
This venture round takes NymCard’s total funding to over $35 million.
Swedish fintech start-up Juni raises $206m in funding and debt financing
Juni’s Series B funding round comprises $100 million in funding and $106 million in venture debt financing.
Money 20/20 Europe: Mastercard’s open banking guru on payments and data
Jim Wadsworth discusses working with fintechs, open banking, becoming a paytech and safeguarding data.
Temenos gains new paytech client in the UK, Optimus Cards
Temenos’ tech was chosen for its proven reliability, resilience, and flexibility, says CEO of Optimus Cards.
Indian fintech start-up Slice raises $50m in ongoing Series C round
The round has been led by Tiger Global with participation from new investor GMO Venture Partners.
Barclays to shutter 27 more branches, taking its total to 103 branch closures for the year
As customers increasingly bank digitally, Barclays is “carefully reducing” the number of underused branches.
UK paytech GPS appoints Jill Docherty as director of global partnerships
Docherty will sit on GPS’ global executive committee overseeing all GPS ecosystem partners.
Mastercard partners HyperPay to boost digital payments across MENA
As part of the deal, Mastercard has also invested in HyperPay, leading a $40 million funding round.
Mambu partners Brim Financial for new digital banking offering
Through the partnership, the firms will deliver a new digital banking platform in North America.
Webinar: How to keep up with the card payments industry upstarts and capitalise on the opportunities
Lessons from neobanks, start-ups and paytechs to exploit these substantial revenue opportunities.
Card-issuing platform Marqeta partners Evolve Bank & Trust
Evolve will support the full range of Marqeta’s card programme management capabilities.
Moneybase partners Compass Plus Technologies for new app and cards
Moneybase has built its new offering on Compass Plus Technologies’ TranzAxis platform.
YAP expands into Pakistan with EMI licence approval
YAP Pakistan hopes to address the challenges consumers face in the foreign remittance market.
Payments infrastructure firm Xendit lands $300m Series D round
This latest round brings Xendit’s total funding raised to date to $538 million.
ICYMI fintech funding round-up: CertifID, Bridgecard & Forward
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Europe fintech funding round-up: Findity, Recognise Bank, Moneybox, Circit & Klarpay
Our weekly fintech round-up for you to get the latest funding news from around Europe.
CommBank-backed money app Kit enters trial phase
Kit is available in trial mode to 5000 people living in Australia.
NatWest Group fined £1.82m for overcharging credit card interchange fees
NatWest, RBS, Ulster Bank and Coutts incorrectly treated a number of cards as being ‘commercial’ cards.
LeapFrog and Tana Africa invest in Nigerian paytech Interswitch
LeapFrog and Tana will work with Interswitch to increase its customer base and develop new products.
Credit card platform Deserve secures $250m credit facility
The new facility follows a $50 million Series D raise in October 2021.
Airwallex hires Pranav Sood to head up EMEA operations
Sood joins from GoCardless, where he was most recently vice president of small business.
UK government unveils new law to protect access to cash
Economic secretary to the Treasury John Glen says: “We know that access to cash is still vital for many people.”
Egyptian B2B paytech Paymob raises $50m Series B
The Series B round, the largest fintech Series B in Egypt, was led by Kora Capital, PayPal Ventures and Clay Point.
MDI aims to become Egypt’s first fully digital bank
MDI aims to drive financial inclusion within Egypt.
Developer infrastructure bank Column launches to cut middleware bloat
Column is the only nationally chartered developer infrastructure bank in the US.
Teen financial literacy app Wingocard shuts down
The Montreal-based fintech was founded in January 2020 and launched in May 2021.
Canada’s Neo Financial hits unicorn status with $145m Series C raise
The round was led by Valar Ventures, with new and existing investors also participating.
Latin American Bitcoin rewards credit card provider YoCripto readies for launch
YoCripto is on a mission to be the first in Latin America to offer a credit card with Bitcoin rewards.
Co-branded credit card platform Concerto launches with $21m funding
The early-stage round was led by Matrix Partners and saw participation from PayPal Ventures.
