Fintech funding deals globally 30 August – 5 September 2021
Featuring Insurify, Snap Raise, Clicklease, Jeeves and Origin.
Cards
CIBC acquires Costco’s Canadian credit card portfolio
CIBC will also become the exclusive issuer of Costco Mastercards in Canada.
Fintech funding deals globally 23 August – 29 August 2021
Featuring OPay, Ramp, Zepz, Ekuaibao and Cora.
Video: fintech news pick of the week – Mastercard, Ramp, PayPal & more
Our top pick of news from the world of finance and tech in bitesize video format, every week.
Ramp hits $3.9bn valuation with $300m Series C funding round
The start-up has also agreed a deal to acquire “negotiation-as-a-service” platform Buyer.
Transact365 – change the way you process online payments
Localise, globalise and optimise your business with Transact365’s range of payment and banking solutions.
Mastercard confirms timescale for phasing out magnetic stripe
Stripe-less cards will be issued from 2024 for selected regions.
Brex acquires Israeli start-up Weav in $50m deal
US fintech will aim to leverage Weav’s API technology.
Ualá hits $2.45bn valuation with $350m Series D round
Fintech start-up claims the funding is a record investment for an Argentine company.
US neobank Upgrade secures $105m Series E funding round
The new funding round values the firm at more than $3.3 billion.
Malaysian challenger BigPay raises $100m to fund Asian expansion
BigPay is the fintech unit of Malaysian budget airline AirAsia Group.
Card issuing platform Lithic secures $60m Series C funding
The raise follows hot on the heels of its $43 million Series B in May.
NewDay launches UK’s first cardless consumer credit offering
The credit provider plans a full launch of the paperless and plastic-less “Bip” later this year.
B2B payments platform Nium hits unicorn status with $200m Series D round
Nium has now raised a total of around $280 million in funding.
Deko hires former Barclays tech chief as new CTO
Tom Myles joins as CTO along with Rob Fernandes as CPO.
Lloyds and Mastercard sign open banking payments partnership
The new platform, PayFrom Bank, utilises Mastercard’s Payment Gateway technology.
Spendesk lands €100m Series C funding round
The Paris-based firm plans to use the funds to double its staff and accelerate product development.
Soldo secures $180m Series C funding round
Soldo says the round is a European record for the spend management category.
Cardless raises $40m in Series B funding
Cardless has now raised $50 million in total funding.
Verizon and Mastercard forge partnership to bring 5G capabilities to payments
Internet of Things (IoT) sensor connectivity will be combined with near real-time edge computing.
Discover targets BNPL offering with $30m Sezzle investment
The firm plans to launch a BNPL network solution on the Discover Global Network.
Reserve Bank of India blocks Mastercard from onboarding new domestic customers
RBI claims Mastercard Asia/Pacific has failed to comply with an earlier directive on data storage.
Video: fintech news pick of the week – Revolut, Lunar and the UK fintech sector
Our top pick of news from the world of finance and tech in bitesize video format, twice a week.
International Bank of Somalia partners Visa to launch card payment service
The partnership will enable cashless payments in the country.
Video: fintech news pick of the week – Revolut, Deutsche Bank and Pleo
Our top pick of news from the world of finance and tech in bitesize video format, twice a week.
Dutch challenger bank Bunq secures $228m Series A investment
The funding round was led by UK private equity firm Pollen Street Capital.
Winners announced for the 2021 PayTech Awards
24 winners and 31 highly commended for projects, companies, products, individuals and teams!
Singapore fintech Nium to acquire Wirecard Forex India
The acquisition is expected to close in the third quarter of 2021.
Indian fintech Pine Labs secures $600m investment
The firm landed an additional $315 million on top of the $285 million raised in May.
Dear Luc: Should I prepare for a wearable payments comeback post-COVID?
This week our writer asks: are wearables set for a comeback as social distancing eases?
Karat Financial raises $26m in Series A funding round
The company offers business credit cards designed for digital creators and influencers.
Pleo lands $150m Series C funding round
The firm says the investment brings its valuation to around $1.7 billion.
Tribe Payments partners ClearBank to provide banking access for fintechs
The partnership will allow clients to add banking services to their payment products.
Isbank deploys H2O AI platform for cash forecasting and default prediction
Turkish bank gives automated system the go-ahead after successful pilot.
Novus partners Visa and Railsbank to launch sustainable banking app
The app will reward “conscious consumers” for sustainable purchasing choices.
Payshop goes live on BHMI’s Concourse for back-office payments
Portuguese payments firm aims for “seamless support”.
PostFinance Switzerland picks FICO’s Falcon for fraud protection
One-third of all Swiss debit card transactions are made using PostFinance cards.
American Express debuts checking account product for small US businesses
The product has been developed by recent AmEx acquisition Kabbage.
Antelop reinvents digital cards and mobile issuance with a unified solution for banks and card issuing processors
Delivering a full range of digital card features through mobile-only integration, with no back-end dev required.
Telkom launches Africa’s first virtual card for transacting on WhatsApp
Telkom Pay users can now use WhatsApp to pay any merchant that accepts Mastercard.
