Credit card fintech Petal secures $200m debt facility from Victory Park Capital
In addition, the company has also raised $20 million in new equity financing from its existing investors.
Financial Inclusion
ICYMI fintech funding round-up: Pockit, Orbital, Traction & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Vestwell taps workplace financial wellness with Gradifi Solutions acquisition
Vestwell acquires Gradifi Solutions from Morgan Stanley, following its acquisition of E*TRADE Financial.
Vanquis Banking Group buys UK smart money app Snoop
Snoop leverages AI and open banking technology to provide personalised overviews of spending habits.
The Republic of Palau taps Ripple for first stablecoin pilot
The pilot is expected to last for three months between selected merchants and government employees.
Mercury Financial secures $200m debt facility to expand credit card business
The facility has been provided by client funds managed by US investment banking company Neuberger Berman.
ICYMI fintech funding round-up: Giraffe, eflow Global, Galaxy Ventures & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Vietnamese fintech start-up Gimo secures $17m in Series A funding
Founded in 2019, Gimo provides flexible pay and financial wellbeing solutions for underbanked workers in Vietnam.
Bain Capital buys majority stake in India’s Adani Capital, invests $120m to boost growth
Bain Capital will pick up a 90% stake, with current CEO Gaurav Gupta retaining the other 10%.
Banking Tech Awards 2023: Nominations deadline extended!
Submit your nominations before 4 August 2023!
Filipino fintech start-up Salmon lands $20m debt funding
Salmon says the investment marks the “largest ever” debt financing for a Series A tech company in the Philippines.
Webinar | 6 September 2023: Pioneering innovative partnerships – unveiling the game-changing fintech hybrid model at the point-of-need
An insightful journey through the experience of the successful implementation of the hybrid start-up model.
US fintech Earnest partners Nova Credit to make international student loans more accessible
The partnership seeks to provide better financing opportunities to foreign-born students in the US.
ila Bank taps Arab Financial Services for prepaid card offering
The Bahraini denominated card can be used to pay for transactions in both an in-store and online setting.
Spend management platform EnKash launches Olympus solution for businesses
The solution targets MMEs that lack experience and accessibility of financial and non-financial products.
Mexican start-up mattilda lands $19m Series A funding
The capital will be used to accelerate its growth in Mexico and fuel its international expansion plans.
UK fintech Suits Me looks to revive face-to-face banking with new digital service
The service’s arrival is a response to the failings of chatbots.
Norway’s SPK selects Mambu and Knowit to support its upcoming housing loan solution
Mambu’s cloud technology and Knowit’s loan origination solution are to support the SPK’s housing loan offering.
Grow Finance joins Pismo as its first Australian client for card issuance
Launching this September, Grow seeks to provide businesses with better cash flow, management and capital.
Egypt Post meets SME financing capabilities with Qardy partnership
Qardy will provide its financing services to Egypt’s SME community through Egypt Post’s numerous post offices.
Silverbird announces Stu Bailey as new CPO
Bailey’s appointment will seek to assist Silverbird in “liberating cross-border trade” for SMEs.
Mexico’s BanCoppel taps Temenos for core banking overhaul
Utilising Temenos’ core banking platform, BanCoppel aims to scale its operations and offer more banking services.
Humo and Credo Bank to pilot RTGS.global settlement service
The pilots will seek to streamline historically cumbersome cross-border settlement processes.
Silvr secures up to €200m credit facility to close European SME funding gap
The new transaction is backed by Citi and Channel Capital, and the initial facility will be for €67 million.
ICYMI fintech funding round-up: Kanastra, Majority & Cloudbankin
Our weekly fintech round-up for you to get the latest funding news from around the world.
Video: MSUFCU at FinovateSpring 2023 – Boosting financial inclusion in the US
We chat with MSUFCU’s Ben Maxim about how banks across the US can do more to tackle the wealth gap.
Video: ICBA at FinovateSpring 2023 – How community banks can compete in a digital world
FinTech Futures speaks with Charles Potts, EVP and CIO at Independent Community Bankers of America (ICBA).
Amplifi Capital raises £50m from M&G to boost the UK credit union sector
Amplifi Capital is the company behind UK financial services brands My Community Finance and Reevo Money.
Mexican fintech Stori secures $50m debt capital from CIM
For Stori, it is the second debt facility from CIM, following a $75m debt facility in November 2021.
LatAm fintech start-up Kiwi secures $80m in funding
With the funding, Kiwi plans to introduce new products and reach more customers across US and Latin America.
US LGBTQ+ neobank Daylight to close down
The final day of Daylight’s banking operations will be 30 June.
Digital banking group Tyme lands $77.8m in pre-Series C funding
Existing investor Tencent also increased its stake to become Tyme’s third-largest stakeholder.
Sonata Bank taps Plinqit to help restaurant workers meet savings goals
Through the partnership, Sonata will provide customers with ways to save and plan for future financial needs.
Sonata Bank aims to boost quick service restaurant employees’ financial health
The challenger has raised more than $20 million in its initial round of funding.
Bank of America launches new accelerator programme for fintech start-ups
The programme aims to help entrepreneurs from underrepresented communities scale-up their businesses.
North East Small Finance Bank migrates to new core, Turing CBS from M2P
Turing CBS is understood to have replaced FIS’ Profile core banking system at NESFB.
NewDay partners ClearScore’s D One for open banking credit assessments
D One’s approach opens credit to those with limited credit histories and supports responsible lending.
African fintech M-Kopa secures $200m debt financing and $55m equity funding
The debt financing was led by Standard Bank Group and the equity round by Sumitomo Corporation.
How digital payments are changing the world
In both sociological and economic terms, the rapid switch to digital payments is fascinating.
US credit card start-up Petal bags $35m in fresh funding, spins out Prism Data
The new investment will be split between Petal and Prism Data as the businesses look to scale.
