Robinhood’s value tops $11bn on new funding round
The new valuation increased by nearly one-third from a previous round just one month ago.
Investment, Asset & Fund Management
Landlords’ banking platform Hammock raises €1.1m in seed funding
The system claims to save landlords “significant time”.
PayActiv raises $100m Series C funding round led by Eldridge
The round comes less than a year after it became a Public Benefit Corporation.
SimCorp puts Dimension on the cloud with Microsoft Azure
Investment systems vendor signs public cloud deal with Microsoft.
Russian neobank Tinkoff launches charity cashback tool
Users could already make donations manually via the app.
Grab launches micro-investment, third-party loan and BNPL offerings
The firm is further cementing itself in the financial services industry.
Singapore’s robo-advisor StashAway lands $16m led by Square Peg
The fintech last raised funding in July 2019.
Siepe closes series A funding led by HNW individuals
It will use the proceeds to expand its cloud-based Software-as-a-Service.
UK fintech Beanstalk launches JISAs for parents with just £5 to invest
The start-up was co-founded by former Capital One employees.
BBVA collaborates with Fujitsu on quantum tech proof of concept
Spanish giant thinks quantum will be key to industry future.
Venture capital firm Ribbit plans $600m fintech Spac
Bow Capital Management is also aiming to raise $350m for a tech focused Spac.
Morgan Stanley publishes greenhouse gas emissions on loans & investments
The bank is joining the Partnership for Carbon Accounting Financials.
Lemonade rival Hippo raises $150m financing round
The Palo Alto, California-based start-up is valued in the investment at $1.5 billion.
The roaring 20s: when the asset manager becomes a data manager
Failure to adapt won’t just impact your existing client base’s investments.
Hummingbird raises $8.2m led by Flourish Ventures
Flourish Ventures led the round, with new support from Stripe alumni Lachy Groom and Jon Zieger.
Banca Ifis breaks into Germany with Raisin partnership
Raisin to power cross-border finance for Italian firm.
Your LP is your customer, that’s important to understand
Customers want fund managers to do the work for them.
Barclays launches robo-advisor for £5k investments with Scalable
The service is called ‘Barclays Plan & Invest’.
RBC commits CAD 150 million to diversity push
It aims to increase the proportion of non-white executive hires to 30% from 20%.
Banking Technology July/August 2020 issue out now
Unlocking the benefits of open banking.
Alibaba’s Ant plans Hong Kong IPO
“It is looking at selling between 5% and 10% of its shares in an IPO,” according to sources.
PolicyBazaar’s CEO calls SoftBank-backed expansion a “mistake”
“The point is you don’t double capacity suddenly, it doesn’t help,” says CEO Yashish Dahiya.
Liechtenstein’s VP Bank bags fintech CEO for client solutions unit
Thomas von Hohenhau is the Swiss CEO of Hamburg-based fintech Deposit Solutions.
UK challenger Monument to tap Britain’s mass affluent
The fintech has raised £10 million to date.
Commerzbank fined €650k by Cypriot regulator
German bank sanctioned in relation to dealings with now-defunct Laika
B21 launches crypto trading app in India following regulation clarity
India has seen a spike in crypto investing in the last months.
Lemonade lands $319m in IPO
The SoftBank-backed insurtech sold 11 million shares priced at $29 each.
TransferWise lands licence from FCA to offer investment products
The move marks its second side-step from cross-border payments.
Santander looks to William Vereker for UK chairman role
The appointment is expected to be approved later this week.
US regulators relax Volcker Rule restrictions
Major US banks allowed to unlock wider range of investment options.
PictureWealth lands AUD 12m and seals acquisition
The company has acquired NEO Financial Solutions (NFS) for an undisclosed sum.
Privitar receives $7m investment from HSBC
HSBC is expanding its strategic relationship with Privitar.
Memo Bank launches business offering and lands €20m
The funding round was led by Paris-based BlackFin Capital Partners.
MayStreet secures $21m Series A investment
The investment will be used to accelerate MayStreet’s product development and expansion.
Pagaya raises $102m in Series D funding round
The US-Israeli wealthtech will use the investment to hire more top tier data scientists.
Deutsche Bank to create new international private bank
The new global private bank will likely hold roughly €250 billion.
M1 Finance raises $33m in Series B funding
Left Lane Capital led the new round, brining M1’s total raised to $55m.
Baltic bank Luminor signs on FA Solutions to simplify cross-border ops
Luminor has been working on centralising its IT systems.
TIS raises $20m for its B2B payment platform
TIS will use the investment from Aquiline and 83North for its global expansion.
Northern Trust to deploy BlackRock Aladdin in new partnership
Chicago-based corporate bank extends “long-standing relationship” with BlackRock.
