B2B BNPL platform Tranch raises $100m in debt and equity
$5 million have been raised in equity while the rest – $95 million – have been taken on as debt.
Cash
PayQuicker appoints Nazuk Jain to lead product development
Jain will build out the firm’s product team and manage its expanding product roadmap.
2022: Top five crypto developments
FinTech Futures takes a look back at some of the year’s top crypto developments and stories.
Nine UK banks link up to form company protecting access to cash
The company’s aim is to provide cash access, deposit and basic banking services where they are needed, across the UK.
Getting banked: financial services and the US cannabis industry
We chat with Michael Beird of Infused Banking about how banking is changing for US cannabis businesses.
Dubai-based fintech Leap aims to improve youth financial literacy
The Dubai-based start-up wants to improve youth financial literacy, targeting the under-18s.
Fintech mortgage lender Gen H secures £600m partnership with The Nottingham
The funding will enable Gen H to speed up the rollout of its mortgage products.
Binance signals intent to acquire rival crypto exchange FTX
FTX’s CEO wrote on Twitter that a “strategic transaction” has been hashed out with Binance, pending due diligence.
Brazil’s Agrolend lands $27m Series B funding
The start-up provides Brazilian farmers access to credit through a mobile-first platform.
Ampla Technologies acquires B2B BNPL firm Upside Financing
Ampla says the acquisition will open up a B2B BNPL market that is worth an estimated $1 trillion.
DBS and digitalisation: what the West can learn from the East
“Meaningful innovation is the true litmus test,” says DBS’ Shee Tse Koon.
Video: Brim Financial at Sibos 2022 – Card and payments innovation
At Sibos 2022, Brim Financial’s Meenaz Sunderji discusses the evolving retail and corporate card landscape.
Jiko lands $40m Series B, launches T-bill corporate money storage solution
Jiko’s solution provides firms access to spendable T-bills.
Billtrust snapped up by EQT Private Equity in $1.7bn deal
The deal, set to close in Q1 2023, will see Billtrust become a private company.
Banking hubs set to open in 13 locations across UK
The increase in shared banking hubs comes as retail banks continue to pull out of the country’s high streets.
Lessons from a car that won’t unlock
Based on recent experiences, here are some thoughts on what finance can learn from the auto industry.
The role of the payments industry in saving people and planet
Changing the way we make payments can have a substantial positive impact on our society’s carbon emissions.
What comes after cashless?
Data lies at the heart of the financial services sector’s digital transformation.
Digital makes the world go round: a reflection
We have the tools and resources to do more, and to do better, but more action is needed.
The gathering momentum of CBDCs
CBDCs offer a means for secure digital payments with legal tender status, and no bank account is required.
Consumer finance provider Home Credit appoints Jan Cenkr as group CIO
Home Credit is working towards the launch of its new Global Mobile App.
Wyre partners MoneyGram to allow crypto-to-cash conversion
It’s hoped the integration will address a “major pain point for users” in the crypto ecosystem.
US proptech HomeLight acquires Accept, raises $115m at $1.7bn valuation
The acquisition of Accept will make HomeLight the largest agent-focused cash offer programme in the country.
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.
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.
UK’s Previse raises $18m in Series B round
The round was led by Tencent with participation from existing investors.
How CBDCs will transform the way India transacts
The proposed implementation of CBDCs will completely change how the country perceives money.
Experian buys majority stake in Brazilian fintech MOVA
Experian will buy a 51% stake in MOVA for $7.9 million.
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.
FinTech Futures: Top five stories of the week – 13 May 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
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.”
New small business payments platform Hopscotch seeks to make invoicing hassle-free
Hopscotch, founded in June 2021, has raised nearly $10m from 12 investors.
California fintech Point secures $115m Series C to accelerate growth
Point enables homeowners to unlock equity from their homes.
When cash ceases to be king: the rise of innovative payment methods
Digital payment systems have seen explosive growth with many people moving away from cash.
Singapore’s Nium to acquire alternative payments network Socash
The acquisition is expected to close in Q3 2022, subject to customary regulatory conditions.
Funding pours into rapidly growing climate fintech scene across Europe and US
Climate fintech start-ups raised $1.2 billion in 2021, according to figures from CommerzVentures.
NatWest and RBS to shutter 32 branches in England and Wales
The UK banking giant says it has taken steps to mitigate the impact of the closures.
Colombian paytech Bold secures $55m Series B to boost financial inclusion
Bold wants to accelerate Colombia’s transition from cash to a digital payments economy.
House of Lords committee says UK digital pound is “solution in search of a problem”
The Economic Affairs Committee cited financial, privacy and data concerns over UK CBDC.
The impact of the contactless limit increase on financial inclusion
What does the contactless limit increase mean for the future of the payments industry and financial services?
