Challenger Oyster Financial launches credit offering for Mexico’s SMEs
Instant credit will range from $500 to $1,500.
Consumer/Personal Finance
Indian fintech lender KreditBee boosts record Series C with extra $70m
KreditBee’s fresh funding also saw the exit of Finnov’s Chinese investors.
Revolut applies for US banking licence days after Canada exit
Revolut’s US operations are led by banking veteran Ron Oliviera.
Freetrade raising £50m Series B for European expansion
Customers have been waiting years for European expansion.
Dallas fintech Stretch to offer former prison inmates bank accounts
The start-up’s aim is to help America’s formerly incarcerated people transition back into the country’s economy.
Wise considers rare direct listing on London Stock Exchange
This would see Wise circumvent the conventional IPO process.
Australia consults industry on more “sustainable” challenger bank licence
The APRA’s consultation closes at the end of April.
US fintech Sincere to target “pet parents” with debit cards
In 2019, Americans spent $95.7 billion on their pets.
UK fintechs B-North, DIEM, Encompass, and Lumio raise funding
A round-up of recent investments clinched by the UK fintech start-ups.
Wealthtech for asset managers FundSense launches in UK
FundSense licenses the platform on a per-user basis.
Ikigai launches in UK to disrupt the asset percentage pricing model
Ikigai is charging a flat £10-a-month fee to early access users.
Web browser Opera hires ex-PayPal and Tencent exec to lead new fintech arm
The new EVP likens Dify’s potential to PayPal’s market disruptor status.
Revolut exits Canada after trialling beta for year and a half
Canada is a difficult market for challengers to crack.
Tencent suffers $65bn market value blow, analysts put fintech business at “zero”
Tencent, like Ant, holds a financial foothold in China which rivals banks.
Banking Tech Awards 2020 Winner: Yolt – Best Mobile Initiative
Yolt’s new mobile app: nudge techniques, open banking and smarter personal finance.
London fintech WorldRemit mulls taking $1.5bn Spac listing to US
Refinitiv data shows Spac mergers have surged to a record $170 billion this year.
YAP throws hat into UAE’s digital banking ring
The start-up’s partner is National Bank of Ras Al Khaimah.
MFS Africa invests in London with all-new executive team
“London has taken up the mantle of fintech advocate and champion.”
Amazon expands pay-with-hand tech, pushes on with digital currency
Amazon hopes to contract out the pay-with-hand technology to third parties.
M&S Bank closing all bank accounts and 29 in-store branches
M&S has moved towards retail-focused solutions in recent times.
Orange seeks buyer for loss-making banking unit
Orange’s banking ops in trouble despite an income of €79 million last year.
Square finally launches bank after filing first application in 2017
Previously, Jack Dorsey’s fintech partnered with Celtic Bank for banking products.
Goldman’s consumer head Omer Ismail leaves for Walmart’s fintech venture
Ismail architected the firm’s move into consumer digital banking.
Robinhood pushes on with IPO plans despite facing 49 GameStop lawsuits
Robinhood has held talks with underwriters about filing “within weeks”.
Ethical challenger algbra banks on tech to define it in “fintech gold rush”
“We’re building a backend on a global level,” says co-founder.
UK challengers Monument, Pockit and TreeCard bank funding
Three UK banking services start-ups have landed investment recently.
A seven-year-old tells us what we (should) already know about banking
Your customers aren’t seven-year-olds, but they probably want a lot of the same things.
Oraan CEO: Women in finance weren’t welcomed in Pakistan
Oraan’s research found that savings – particularly for women – just wasn’t tapped into.
UK Black-owned challenger Atmen to launch in March
The start-up is now looking to raise £5 million from institutional investors.
Neobank hopeful 11Onze to offer Catalans a non-Spanish alternative
The start-up intends to be a true representation of the country’s 7.6m population.
Robinhood backer Tiger Global leads $200m investment in rival Public.com
Public.com – as on 1 February – decided to stop making profits from payment for order flows.
MoneyLion set to go public via $2.9bn Spac deal
The fintech anticipates year-over-year growth of around 88%.
IKEA buys 49% stake in financial services partner Ikano Bank
Lending to IKEA shoppers accounted for about a quarter of the bank’s total business.
Danish edtech Female Invest targets UK expansion with $1.6m fresh capital
“It makes a big difference when you see someone like you on a platform.”
Italian neobank illimity turns €16m loss into €31m profit in a year
The neobank’s best-performing arm, by a long way, was its NPL unit.
Raiffeisen Bank to buy Czech Republic’s consumer lender Equa bank
In 2020, Equa bank’s consolidated net profit fell by 55% to $8.5 million.
Goldman Sachs re-opens Marcus in UK with 0.5% rate
0.5% is the highest paying easy-access rate in the UK.
Huawei to acquire Xunlian Zhipay for its payments licence
The deal is yet to be officially announced.
Klarna’s valuation set to triple to $30bln, says report
A report says Klarna is currently working on a half a billion new share issue.
UK-Nigeria mobile wallet Sendit.Money goes crowdfunding
It has already exceeded its £100,000 target, having raised £146,006 at time of writing.
