Pinwheel raises $50m in Series B to help create “fairer financial system”
Pinwheel provides an API that allows businesses to connect payroll accounts to their applications.
Financial Inclusion
UK credit card Keebo launches for “credit invisibles” in “passion economy”
Keebo tackles financial exclusion in the “passion economy” – an economy built around “creators with a purpose”.
African fintechs Finclusion and Lipa Later raise pre-Series A funding
Finclusion has landed $20 million and Lipa Later has secured $12 million.
De novo Agility Bank opts for Numerated’s loan origination platform
Numerated’s SaaS loan origination platform will support Agility’s business banking products.
Open banking – a new stage in financial inclusion
Open banking is getting more mature day by day, and it keeps financial inclusion among its top priorities.
SaaS tech start-up financing platform Arc lands $161m investment
“We’re on a mission to help start-ups grow,” says Arc co-founder and CEO Don Muir.
Indonesian fintech start-up Pluang raises $55m in Series B follow-up round
The company has now raised $110 million in total Series B funding.
Credit building start-up Petal raises $140m in Series D, faces lawsuit
Petal CEO says firm is hiring across the board for more than 100 positions this year.
2021: Top five fundraises
FinTech Futures takes a look back at some of the year’s most eye-catching funding rounds.
2021: Top five mergers and acquisitions
FinTech Futures takes a look back at some of the year’s top mergers and acquisitions.
Bank Indonesia launches real-time payments infrastructure to broaden financial inclusion
The new payments system will form the “backbone” of a broader retail payment system infrastructure.
Vietnamese fintech MoMo raises $200m in Series E round
MoMo says it will use the cash to expand the suite of financial products available on its ‘super-app’.
MoneyLion acquires embedded finance marketplace Even Financial for $440m
The acquision is expected to add $90m of revenue for MoneyLion.
British Business Bank backs SME-focused lender Simply with £300m funding line boost
Simply has provided £650 million worth of support to businesses since it was founded in April 2017.
Why start-ups, not incumbents, will be the engines of post-pandemic SME growth
Many lendtechs are looking to leverage the digital revolution to help drive post-pandemic recovery in the UK.
Indian paytech Juspay secures $60m in Series C funding round
The funding will be used to support national and international expansion.
Brazilian neolender Open Co secures $115m funding to boost expansion
The start-up was formed through a merger of two consumer credit platforms earlier this year.
Reach, inclusivity and global impact – the cross-border payments opportunity
G20’s “Roadmap for Enhancing Cross-border Payments” – a landmark priority project.
India’s FSS and CSB Bank team up to provide banking services to the financially underserved
The partnership will see 1,000 Smart Cash franchises opened in underbanked areas.
Global paytech PPRO hires e-commerce tech veteran Bernie Miles as CTO
Miles will lead a global team based across Europe, South America and Asia.
UK SME lender OakNorth acquires cashflow forecasting solution Fluidly
Since its launch in September 2015, OakNorth Bank has lent over £6.5 billion to SMEs.
Indonesian fintech Flip plots expansion following $48m Series B
Cash will go towards strengthening its Indonesian operations and expanding its workforce.
MTN hires Hermann Tischendorf as CTIO for digital and fintech
Tischendorf joins from 4Finance Group, where he served as CTO.
APIs, open banking and the changing face of financial services
The pandemic played a substantial role in boosting the adoption of open banking and APIs.
Banking service for migrants Majority raises $27m in Series A
The company has identified 180+ unique migrant communities it intends to offer its services to.
Batelco and i2c to launch Bahrain’s first open banking super app, Beyon Money
Beyon Money has recently secured a “first of its kind” open banking licence.
New neobank designed exclusively for women of colour launching in 2022
GoWomen says it will provide banking services and financial awareness and wellness products.
The Bank of London launches in UK with $1.1bn valuation
The company received its first bank licence as the sixth principal clearing bank of the UK.
New neobank Migom provides unbanked entrepreneurs essential banking services
The digital bank also provides crypto capabilities, including instant crypto transfers.
TSB to close 70 branches across UK as digital-first banking becomes norm
Over 90% of customer transactions are now carried out digitally, the bank says.
Bridging the gap between banking and digital accessibility
In a digital by default world, banks need to be champions of ensuring everyone has access to financial services.
Indian government takes next step in banning cryptocurrencies
Scheduling of bill points to government’s stance despite speculation over rethink.
Israeli blockchain firm StarkWare raises $50m in Series C round
Company aims to increase blockchain bandwidth to scale technology for mass use.
South African e-payments platform Ozow lands $48m in Series B funding
The paytech says cash will help deepen financial inclusion on the African continent.
Black-owned Adelphi Bank files for licence in the US
The new bank is intended to provide African Americans with better access to financial services.
US credit card fintech Black Opal prepares for full launch
The firm intends to issue credit cards for expats and is seeking funding of $100m.
Talenthouse chooses Vodeno and Aion Bank for financial services launch
The global platform for creatives plans a phased roll-out of financial services from this month.
ID platform Alloy selected by LGBTQ+ digital bank Daylight for customer verification
Alloy’s API-based platform will be used to automate the bank’s identity verification process.
Kafene secures $75m funding to accelerate growth
Capital to support Kafene’s point-of-sale financing to Americans with limited access to credit.
Land of opportunity: The growth of BNPL in Brazil and South America
Brazil is South America’s biggest market for buy now, pay later (BNPL), and it looks set to keep growing.
