Paysafe to list via Bill Foley-backed Spac at $9bn valuation
Blackstone and CVC acquired Paysafe back in 2017 for £3 billion.
Business-to-Business/B2B
JPMorgan snaps up tax automation fintech 55ip
“Advisors are increasingly seeking intelligent, automated tools,” says bank.
Revolut launches acquiring service for merchant customers
Revolut undercuts Stripe by 0.1%.
Singapore issues digital bank licences to Grab, Ant & Sea
The regulator has issued four licences, rather than five.
Half of UK’s small businesses now use open banking, says OBIE
Open banking is speeding up account switches too.
Stripe launches BaaS-type service for merchants with top US banks
“[The] banking experience should be as easy as spinning up a virtual server.”
Monzo lands another £60m from new backers
The latest funding still sees to leave Monzo at its £1.2 billion valuation.
Web Summit 2020: A fintech summary
Stripe is looking at products around digital identity.
Libra and Facebook exec joins rental insurtech LeaseLock
The fintech removes the need for renters to pay a deposit for a rental property.
Sber partners with JP Morgan to pilot digital currency in 2021
Russia announced its new cryptocurrency law this year.
Nordigen unveils free open banking platform to industry’s dismay
Nordigen claims it is the first to launch a free open banking platform.
UK central bank unveils Islamic finance liquidity alternative
The central bank will run tests in early 2021.
Former Paypal execs raise £14m for start-up venture Primer
The co-founders met at PayPal-acquired Braintree.
Stripe chases $100bn valuation with no sign of IPO
Stripe could see its valuation quadruple in just two years.
S&P Global could buy IHS Markit for $44bn
S&P Global’s shares have risen 25% in New York this year alone.
JP Morgan and Lloyds considering acquisition of UK challenger Starling Bank
Pair of major banks interested in Starling Bank’s potential following profit announcement.
Banking Tech Awards 2020 hosted online by Tom Ward
Join comedian Tom Ward for the 2020 Banking Tech Awards. Broadcast online on 10 Dec, 3:30pm GMT and is free to attend.
G2A co-founder launches banking challenger Zen in 32 countries
Zen’s offering is split into consumer-facing and business-facing.
Credit Karma secures $7.1bn Intuit acquisition, sells tax ops to Square
Square enjoyed a 4% jump in stock market value following the announcement.
Embedded banking fintech Weavr lands $4m seed round
Weavr, once known as Open Payments Cloud, spun out of Ixaris in 2019.
Virgin Money profits dive 77% as it braces for bad loans
Before impairment charges, Virgin Money’s underlying profit stood at £625m.
South African BaaS provider Ukheshe to acquire local fintech Oltio
Oltio is a smaller South African firm which hosts QR code payments for Mastercard.
Indian payments fintech Cashfree lands Apis-led $35m Series B
Cashfree counts more than 50,000 businesses as customers.
Goldman’s former CIO becomes chairman of Israeli fintech The Floor
“I believe The Floor has transformative potential to impact the financial services industry.”
Western Union snaps up 15% stake in Saudi telco’s payments arm
Currently Western Union provides stc pay with money transfer services.
Deutsche Börse leads $15m round for sustainability start-up Clarity AI
“Our purpose is simple: to measure the impact of companies on our society and planet.”
Latvian loan investment marketplace Mintos crowdfunds €6m
Mintos currently hosts 68 lending companies.
UK payments provider Modulr lands £9m investment from PayPal
PayPal thinks Modulr is “well-positioned to be an enabler”.
US crypto exchange Gemini banks on ClearBank for UK operations
Gemini launched in the UK two months ago.
UK challenger Monument partners with Mambu, AWS & Accenture
“Monument concluded that no appropriate single solution existed”.
One of Turkey’s largest fintechs Papara gears up for expansion
It launched in 2016 and became cash flow positive in 2017.
App for US landlords NestEgg lands $7m Series A
Alongside its fresh capital injection, the start-up has also launched NestEgg Pay.
How real are real-time payments?
Incumbents and fintechs face the same challenges when scaling real-time payments.
Jumio discusses the importance of video-based identity verification
“With video, we can reduce onboarding time from days and hours to minutes.”
Santander to pay €100m for Wirecard’s core European business
The deal means the bank can expand its payment solution across Europe, says Santander’s CEO.
Nexi’s acquisition of Nets creates Europe’s largest payments firm by volume
Nexi is “uniquely positioned to catch further M&A opportunities”, says CFO.
MSU Federal Credit Union built its own app in 2009 – where is it now?
MSU holds around $5.5 billion in assets and is America’s 48th largest credit union.
United Fintech launches in UK and acquires NetDania
Danish fintech NetDania supplies forex and trading technology and data.
Lawyers turned payment processors serve world’s richest consumers
“We’ve already broken even,” says CEO.
PayNearby turning India’s small-time retailers into ATMs and bank branches
“I wanted to take high-end tech to the bottom of the pyramid,” says CEO.
