FinTech Futures: Top five news stories of the week – 26 January 2024
Our pick of the top fintech news stories this week includes Abrdn, Kashable, Synchrony and more.
Consumer/Personal Finance
Bilt Rewards more than doubles its billion-dollar valuation with new $200m equity investment
Bilt Rewards was previously valued at $1.5 billion following a $150 million funding round back in 2022.
ICYMI fintech funding round-up: Safty, Ozone API, WealthKernel and Karty
A handy round-up of the recent funding endeavours of fintech companies across the globe.
UK fintech ieDigital snaps up AI tech provider Abaka
The fintech’s takeover of Abaka comes only four months after it also acquired US CUSO Connect FSS.
Synchrony hires former Santander exec Pierre Habis to lead consumer banking
Habis previously served as chief consumer banking and digital transformation officer at Santander.
India’s DMI Group snaps up BNPL fintech ZestMoney
The fire sale deal follows reports in December last year that ZestMoney was closing down.
How fintech is expanding the borders of financial inclusion
FinTech Futures takes a look at FS firms that are catering to vulnerable people or people with disabilities.
UK car finance fintech Carmoola lands £15.5m in equity funding
The start-up previously secured a £95m debt facility from NatWest and an £8.5m Series A round in February 2023.
Millennials and Gen-Z embrace digital banking and “mobile-first” payment mindset. Could that be a problem?
Consumers need to be clear on what constitutes proper – as well as improper – use of mobile banking and payment platforms.
Southeast Asian fintech Salmon acquires controlling stake in Filipino bank
Once the deal is completed, Salmon will own 59.7% of the Rural Bank of Sta. Rosa (Laguna).
Boost Bank secures regulatory approval to begin operations in Malaysia
The new digital bank has been formed through a partnership between Malaysian fintech Boost and RHB Banking Group.
Indian paytech MobiKwik refiles draft papers for IPO, hopes to raise $84m
The company’s initial plans for a $255m IPO in 2021 were scrapped due to weakening market conditions.
Nubank secures regulatory approval to operate as a financing company in Colombia
Nubank subsidiary Nu Colombia received the approval from the Financial Superintendence of Colombia (SFC).
ICYMI fintech funding round-up: Fimple, Money Industries and Koree
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Rappi to discontinue RappiCuenta offering in Mexico next month
Users in Mexico have been asked to withdraw all funds before the closing date of 11 February 2024.
UK fintech Bumper raises $48m in Series B funding round
The round, led by Autotech Ventures, takes Bumper’s total funding to date to $64 million.
HSBC unveils new international payments app Zing in the UK
Zing is a multi-currency app and debit card that UK residents will be able to use in more than 200 countries.
UK fintech Cushon appoints Ellen Louw as new chief financial officer
Louw’s previous experience includes holding senior finance roles at WorldRemit and American Express.
2023: Top five fintech start-ups of the year
Here are five of the top fintech start-up stories from 2023.
US fintech Vestwell secures $125m in Series D funding round
CEO and founder Aaron Schumm says the raise is “one of the largest Series D SaaS rounds in the US this year”.
BNPL fintech Tabby lands $700m debt facility from JP Morgan
Tabby has also extended its Series D funding round by $50 million to a total of $250 million.
Dutch neobank Bunq launches self-built GenAI platform for customers
Dubbed Finn, the platform allows users to ask advanced questions or seek advice about their finances.
Instant payments, BaaS and GenAI: A fintech industry review of 2023
FinTech Futures takes a look back at the key industry developments and trends to emerge over 2023.
UK fintech Pockit names Garreth Griffith as new COO
With a career spanning more than 25 years, Griffith joins Pockit from Habito, where he also served as COO.
US neobank Chime appoints Shara Chang as chief compliance officer
Chang brings 15 years of financial services, fintech and consumer protection experience to her new role.
CSI snaps up partner Hawthorn River for single-platform loan origination system
CSI initially struck a partnership with Hawthorn River in October to utilise its tech.
Credit Karma co-founder Nichole Mustard reportedly departs firm
Mustard founded the firm in 2007 with Ryan Graciano and Kenneth Lin.
Saudi BNPL fintech Tamara lands $340m Series C funding at $1bn valuation
Tamara says the Series C is “among the largest investments in a fintech company in the region”.
The What the FinTech? podcast | Season four’s jailed buzzwords
We run down all the buzzwords our podcast guests wanted gone from the industry this year.
What the FinTech? | S.4 Episode 23 | 2023 in review
In the final podcast episode of 2023, we’re joined by banking tech veteran Dharmesh Mistry.
Europe fintech funding round-up: Aria, AbbeyCross, Salv and more
A handy round-up of the recent funding endeavours of fintech companies across Europe.
ABN Amro to acquire Dutch neobroker Bux for undisclosed sum
ABN Amro hopes the deal will help it gain a foothold in the retail investment space.
AI, BNPL and CBDCs: The industry’s fintech predictions for 2024
We take a look at some of the fintech predictions being made by industry experts for 2024.
Marsden Building Society taps Jade ThirdEye for AML tech
The firm will deploy Jade ThirdEye’s Transaction Monitoring and Customer Screening solution.
Cartoon: Gravity
A new cartoon illustrating Apple’s growing impact on the financial services industry.
Building a world for the 99%
We have the technology to create a more supportive ecosystem for millions of SMEs worldwide.
US fintech Pontera secures $60m in fresh funding round led by new investor Iconiq Growth
This latest investment brings Pontera’s total funding to date to $160 million.
Germany’s Scalable Capital secures $65m in Series E extension
The raise follows on from the company’s $180 million Series E round in June 2021.
Canadian fintech Koho bags $63m funding at unchanged valuation
Founded in 2014, the Toronto-based fintech offers a full-service spending and savings account.
Indian BNPL fintech ZestMoney is reportedly closing down
ZestMoney’s leadership team has reportedly informed employees of its decision to wind down by the end of the month.
