Video: Top fintech stories this week – 28 August 2020
FinTech Futures’ weekly news round-up.
Business-to-Consumer/B2C
US credit fintech for minorities Esusu lands £2.3m
More than 5,000 renters in the US have applied for Esusu.
N26 “nearly” hits half a million US customer mark
“Over the past 12 months, we have learned a lot about our US customer base.”
US challenger for teens Copper lands $4.3m
The start-up has built an advisory board of teens.
LA start-up AmplifyX lets investors build portfolios around musicians
From 2015 to 2019, the entire music industry grew sales at a 9% rate.
2020 PayTech Awards hosted online by Zoe Lyons
Join our celebrity host Zoe Lyons for PayTech Awards 2020! Free broadcast on 10 September – everyone is welcome.
Banks need a single brain
Every bank needs a single brain to anticipate the needs, wants and quirks of every customer.
The social-savvy wave of entrepreneurs
They will push traditional banks to pivot their offerings once again.
John Legend-backed challenger Cred.ai runs beta in US
The fintech has built its own underwriting which it intends to outsource.
ABN Amro winds down savings arm of Moneyou
Moneyou has around 500,000 clients spread across the Netherlands and Germany.
Dosh powers PayPal’s Venmo and US challenger Jelli
The fintech says it will soon have 60 million indirect users.
US challenger Purple to tap America’s disabled community
The fintech allows users to receive disability benefits up to two days early.
Fintech funding rebounds in Q2 but deal numbers continue to fall
VC-backed fintech deals dived from 452 in Q1 to 397 in Q2.
Financial comparison marketplace Crediverso to launch in US for Latinos
Currently in beta, the 2019-founded start-up is yet to go live.
Google Pay to launch bank accounts in 2021 with flurry of partners
The US Big Tech announces another six of its banking partners.
US remittance start-up Remitly lands $85m
The remittance market is set to suffer from the pandemic.
True Link lands $35m in Series B investment
The fintech’s valuation sits at around $115 million.
Stock trading apps are booming, but what about the education gap?
Are fintechs just “paying lip service” to education?
Robinhood scraps UK expansion plans
The fintech landed its licence last August.
Finsie to launch US price comparison service
The fintech launched its beta in July.
Disposable card issuer Privacy.com lands $10.2m
The start-up has issued around five million virtual card numbers.
Twitter shares slide 4% in wake of unprecedented bitcoin promo hack
The hacked accounts have tens of millions of users.
Your LP is your customer, that’s important to understand
Customers want fund managers to do the work for them.
Robinhood lands $320m bumping valuation to $8.6bn
Its Series F stands at $600 million.
LA neobank Aspiration plants 1m trees in three months
The scheme launched in mid-April.
US buy now, pay later fintech Sezzle in $60m raise on ASX
The start-up still needs to close $5 million.
Square’s $55bn valuation reaches skies of major US banks
Square is $20 billion away from matching Goldman Sachs’ market valuation.
US challenger Point lands $10.5m for debit-credit hybrid
Rewards rest on a point-based system.
Car repair loan fintech DigniFi lands $14m Series A
DigniFi also landed a hefty sum of private equity for its auto financing platform.
Newly licensed RevoluPAY taps global remittance market
The fintech landed its PSD2 licence in Spain at the end of May.
Credit Sesame’s banking service uses i2c payments platform
More than 200,000 users have opened a Sesame Cash account.
P2P payments app Chipper Cash lands $13.8m
The San Francisco-based start-up operates across seven African countries.
PayPal and Venmo to “allow buys and sells of crypto directly”
It is understood the services will offer “a built-in wallet functionality” so you can store crypto.
Be Money looks to tap America’s 11m LGBT+ community
The start-up is planning to set up shop in Los Angeles.
Payfone identity verification firm lands $100m
The firm uses mobile data to create a “trust score”.
Santander gets US challenger bank Upgrade to unicorn status
The San Francisco-based challenger has landed a $40 million Series D.
RBC-backed start-up Mydoh launches banking offering for kids
The app and smart card launched more than two weeks ago.
Square buys up Spanish P2P payment app Verse
Verse will join forces with Square’s Cash App.
American Express first foreign credit card player to launch in China
AmEx won initial approval in 2018 for a bank card clearing licence in China.
Halal fintech Wahed lands $25m from Saudi Aramco’s venture arm
The Islamic finance industry is set to grow to $3.8tn by 2022.
