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.
Business-to-Consumer/B2C
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.
N26 “nearly” hits half a million US customer mark
“Over the past 12 months, we have learned a lot about our US customer base.”
R8 relaunches as Mode, appoints ex-Alipay CEO Rita Liu as CCO
Mode is one of R8’s two entities.
Standard Chartered Korea brings banking to consumers’ keyboards
“Banks must weave their services into customers’ digital lives”.
Wesleyan Bank bags former TSB exec as digital head
The firm also hired a new chief financial officer in June.
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.
Zopa launches its first fixed-rate savings accounts
The range of accounts pay 1.05%, all the way up to 1.3%.
Afterpay acquires Spanish BNPL to advance into Europe
Afterpay already owns UK BNPL player, Clearpay.
JP Morgan to launch digital lender in UK early next year
The new cloud-based venture will sit under the Chase brand.
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.
NatWest creates new COO role for its personal bank division
The appointment comes as the bank makes around 550 employees redundant.
ABN Amro winds down savings arm of Moneyou
Moneyou has around 500,000 clients spread across the Netherlands and Germany.
Mortgage fintech Habito lands £35m Series C, becomes B Corp
The round attracted new investors Augmentum Fintech, SBI Group and mojo.capital.
UK challenger bank Chetwood quietly lands another £10m
“If it wasn’t for COVID-19, we’d be well on our way to turning a profit.”
UK pensions firm Options teams with US Halal fintech Wahed Invest
Options UK thinks there is a noticeable gap in the Islamic pension market.
Dosh powers PayPal’s Venmo and US challenger Jelli
The fintech says it will soon have 60 million indirect users.
Revolut’s losses treble to £104.7m after year of rapid growth
Revolut’s revenue was up to £162.7 million in 2019.
TransferWise delivers cross-border transfers for Aussie challenger Up
TransferWise thinks there’s money on the table in Australia.
UK fintech VibePay launches business accounts
The fintech – which launched last October – has also integrated with a host of new banks.
Aussie BNPL Splitit lands $71.5m for US and UK expansion
Woodson Capital has become a substantial shareholder.
US challenger Purple to tap America’s disabled community
The fintech allows users to receive disability benefits up to two days early.
N26 outed for 2019 data breach, employees ask for works council
Around 300 of N26’s 1,500 employees should have access to unencrypted data.
UK challenger sync. reveals £5.5m seed round
The fintech was forced to delay launch due to COVID-19.
Cambodia payments fintech Clik lands $3.7m
The capital will also underpin its launch in Cambodia later this year.
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.
Greek fintech Viva Wallet officially becomes a bank
The Attica-based start-up acquired Praxia Bank’s banking licence on 3 August.
Grab launches micro-investment, third-party loan and BNPL offerings
The firm is further cementing itself in the financial services industry.
UK leads the way in Islamic fintech ahead of Malaysia and UAE
The UK is a notable eight ahead of second-place Malaysia.
Google Pay to launch bank accounts in 2021 with flurry of partners
The US Big Tech announces another six of its banking partners.
