HSBC-backed UK fintech Divido enters administration
Josh Dwyer and Richard Heis of Interpath Advisory have been appointed as joint administrators.
BNPL
Germany’s Mitgo Group to inject $20m into its new fintech division Capy
The $20 million “investment package” is to be spread over the “coming 3 years”.
Thailand’s Ascend Money lands $195m investment led by MUFG
Ascend Money became Thailand’s first fintech unicorn back in 2021.
Dutch payments firm MultiSafepay acquired by Ant International
Ant International will integrate the company with its payments and digitisation solutions unit Antom.
June 2024: Top five payments stories of the month
FinTech Futures takes a look back at five of the top payments stories during June.
Klarna sells checkout business to investor consortium
The deal is reportedly valued at around $515 million.
Reserve Bank of Australia set to conduct “holistic review” of retail payments regulation
The review will begin after the Australian government evaluates the Payment Systems Regulation Act 1998.
Zilch lands £100m in securitised debt financing ahead of planned IPO
Zilch is preparing to launch its IPO in the next one to two years.
Fintech start-up ZORRZ selects Clowd9 to process payments for new AI-powered BlueAccess credit card
ZORRZ is preparing to launch a financially inclusive credit card.
Apple to discontinue pay later service in the US
Apple Pay Later first launched in the US 15 months ago.
BNPL firm Laybuy’s search for new buyer results in Deloitte receivership
Gary Rohloff, managing director of Laybuy, describes the appointment of receivers as “gut wrenching”.
Apple partners Santander’s Zinia for BNPL financing services in Germany
Enabling Apple’s customers in Germany to split or defer payments when purchasing goods at physical or online stores.
May 2024: Top five payments stories of the month
FinTech Futures takes a look back at five of the top payments stories during May.
CFPB says BNPL firms must comply with credit card consumer protection rules for billing disputes and refunds
BNPL firms will now be required to investigate disputes, refund returned products and provide billing statements.
Mexican BNPL fintech Aplazo bags $70m in equity financing
Aplazo has now secured over $100 million in equity financing since its formation in 2020.
State of play: the future of credit
Alternative data sources will be key to ensuring the future of credit is affordable, inclusive, and accessible.
FinTech Futures: Top five news stories of the week – 19 April 2024
Our pick of the top fintech news stories this week includes Klarna, Ramp, Zopa and more.
Klarna to launch credit card offering in the US “over the next few months”
The US is set to be Klarna Card’s fourth market of entry, following earlier launches in Sweden, Germany and the UK.
BNPL firm Laybuy reportedly on the lookout for new buyer to potentially go private
The New Zealand-based firm is currently listed on the Catalist stock exchange with a value of around $5.4 million.
Colombian BNPL firm Addi lands $86m in equity and debt funding
The round consists of $50 million in debt financing and $36 million in equity.
PayPal extends payment options for online SMEs with new solution
PayPal Complete Payments launches this week to online sellers in 22 markets worldwide.
Santander names Petri Nikkilä as new Openbank CEO
Nikkilä joins Santander from ING, where he is currently serving as head of global retail transformation.
BNPL lender Sunbit secures $310m debt facility with Citi and Ares Management Credit
The LA-based fintech says it will use the facility to attract and retain more customers.
Mondu gears up for European expansion with €30m debt financing boost
Mondu’s credit facility with VVRB now stands at €50 million following an earlier deal in 2022.
BNPL firm Billink fuels European expansion plans with $32m funding from Varengold Bank
The Dutch paytech is looking to expand its presence and break into the neighbouring market of Germany.
FinTech Futures: Top five news stories of the week – 19 January 2024
Our pick of the top fintech news stories this week includes Citi, Sainsbury’s Bank and more.
India’s DMI Group snaps up BNPL fintech ZestMoney
The fire sale deal follows reports in December last year that ZestMoney was closing down.
New Year’s resolutions
We are uniquely placed to influence the application of tech and maturation of regulation. Go out there and do good.
FinTech Futures: Top five stories of the week – 22 December 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
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.
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.
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”.
Splitit delists from ASX as Motive Partners snaps up controlling stake
Motive Partners will invest two $25 million tranches as part of its growth commitment to the Aussie firm.
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.
FinTech Futures: Top five stories of the week – 8 December 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
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.
Apple’s partnership with Goldman Sachs is reportedly nearing its end
Apple has reportedly proposed ending its partnership with Goldman Sachs within the next 12 to 15 months.
FCA greenlights Klarna for payment and credit services in the UK
A newly formed entity, Klarna Financial Services UK, will now provide all consumer-facing services in the country.
Klarna prepares for SEPA instant payments with Form3 partnership
The agreement will directly connect Klarna to STEP2 and the gross settlement payment system RT1.
Saudi BNPL start-up Tamara expands lending capacity to $400m with Goldman Sachs
The company has secured an additional $250 million in debt financing to support its lending operations.
