October 2024: Top five movers and shakers stories of the month
FinTech Futures takes a look back at five of the top movers and shakers stories in October.
Consumer/Personal Finance
Western Union acquires Singtel’s mobile wallet Dash
Dash has accrued 1.4 million customers since launching 10 years ago.
Moneybox’s valuation climbs to £550m with new £70m investment
Moneybox says the investment will “mainly be facilitated through a secondary share sale”.
TransUnion appoints HSBC’s Madhusudan Kejriwal as new CEO for UK and Europe
Kejriwal will succeed Mark Horsey, who has acted as TransUnion’s interim regional CEO for the past year.
CFPB orders Apple and Goldman Sachs to pay combined $89m over “Apple Card failures”
Apple first selected Goldman Sachs in 2018 to develop and power its credit card offering.
LendInvest renews £300m warehouse financing deal with HSBC, Barclays, and BNP Paribas
In September, LendInvest also increased its funding agreement with JP Morgan by £500 million.
Banking Tech Awards USA 2025 now open for entries
The deadline for entries is 7 February 2025.
Daily News at Sibos 2024
Download your free copy of the Daily News at Sibos publication today!
Klarna sells UK loan portfolio to hedge fund Elliott Advisors in £30bn deal
Klarna says it will still own “all consumer-facing activities, including underwriting and servicing”.
Banking Tech Awards 2024 finalists revealed!
We are delighted to share with you the shortlist for FinTech Futures’ Banking Tech Awards 2024.
Morocco’s CIH Bank taps Backbase for Engagement Banking platform
CIH Bank will use the platform to onboard both local customers and Moroccans living abroad.
Barclays signs agreement to become exclusive issuer of GM credit card programme
The bank will replace Goldman Sachs as the issuer of the US automotive giant’s credit card programme.
FinVolution expands into Pakistan with Daira launch
Daira is a new lending platform offering low-interest, flexible loans for customers in Pakistan.
SoFi secures $2bn deal with Fortress Investment Group to expand loan platform business
The deal will help fuel the company’s personal loan origination activities.
Best Egg lands $500m purchase facility to expand personal loan product
The purchase facility builds on the company’s $225 million Series E round completed in March 2022.
LendingClub and Pagaya acquire intellectual property of shuttered fintech Tally
Tally closed in August, citing insufficient funding as the primary reason for its shutdown.
Financial planning fintech Facet raises $35m funding round
This round increases Facet’s total raised to $210 million.
Hastings Direct Loans boosts fraud prevention capabilities with IDVerse partnership
Hastings Direct expanded into personal loans around three years ago.
September 2024: Top five fintech funding rounds of the month
FinTech Futures takes a look back at five of the top funding rounds to take place over September.
Let’s switch again
Current account switching is on the rise. But what factors are driving consumers to switch?
Banking Tech Insights: Limitless Banking – 14 November 2024, London
Save the date for Thursday 14 November 2024 for an exclusive half-day networking event in London.
Aussie debt collection fintech InDebted bags $41m Series C
The funding round values InDebted at approximately $240 million.
Multi-banking: convenience or chaos?
The direction of travel is clear – we are all going to be increasingly multi-banked. But is that a good thing?
Building a community from data
Behind every transaction is a human story, waiting for us to connect the dots.
ICYMI fintech funding round-up: Datricks, PastPay, LineLeap, Kompasbank and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
India’s FlexiLoans bags $34.5m Series C for lending platform expansion
The platform has now raised $76.6 million in equity and over $240.9 million in debt to date.
Danish family-focused fintech start-up MyMonii closes down
The Copenhagen-based fintech has now been acquired by undisclosed “new owners”.
Canadian fintech start-up Hardbacon closes down
Co-founder and CEO Julien Brault writes that the fintech’s operations are now suspended.
Migrant-focused fintech Comun lands $21.5m Series A
The funds add to the $4.5 million seed round Comun raised in December.
New UK climate fintech Zero gears up for end-of-year launch
Zero secured seed funding in 2023 and is now pursuing additional capital through a seed extension round.
Australia’s MyState Bank taps Backbase for Engagement Banking platform
MyState’s new platform supports banking features including payments, PFM, and integrated fraud protection.
August 2024: Top five fintech funding rounds of the month
FinTech Futures takes a look back at five of the top funding rounds to take place over August.
What the FinTech? | S.5 Episode 14 | Investment trends and the future of UK fintech
In this podcast episode, we chat with Innovate Finance CEO Janine Hirt about what’s next for UK fintech under Labour.
India’s DMI Finance lands a further $334m investment from MUFG
The new capital injection brings MUFG’s total investment in DMI Finance to $565 million.
Sharon Naidoo named new TransUnion CFO for the UK and Europe
Naidoo previously served as CFO at TransUnion Africa.
Revolut becomes Europe’s most valuable private tech firm after $500m employee share sale
Following the share sale, Revolut is now valued at $45 billion, up from $33 million in 2021.
Science Card introduces new debit card offering to help accelerate UK scientific discovery
Customers can support ongoing projects focused on dementia, cervical cancer, and kidney transplants.
Singapore-based wealthtech Syfe lands $27m Series C funding
Syfe claims to have achieved profitability in Singapore in “early 2024”, five years after its launch.
US fintech Tally to shut down after failing to secure “necessary funding” to continue operations
The fintech had previously secured $80 million in Series D funding in 2022.
Debt repayment platform Haboo Money prepares for 2025 launch
The service will leverage open banking to make repayments “more personalised and dynamic”.
