FinTech Futures: Top five news stories of the week – 2 February 2024
Our pick of the top fintech news stories this week includes Lloyds, HSBC, PayPal, Santander and more.
Payments
UK open banking fintech Kikapay winds down
Douglas Pinteau and Dermot Coakley of WSM Marks Bloom LLP were instated as joint liquidators on 16 January.
State of play: payments
Today, consumers have more options than ever to make payments. So which method will ultimately win?
Blackhawk Network inks agreement to acquire Rewards-as-a-Service platform Tango Card
The acquisition, which will combine both parties’ rewards platforms, is expected to close later this year.
MessageBird seeks entry into financial services with call for potential acquisitions
The platform’s search is currently focused on companies with EMI/PI licences and revenues of up to $5 million.
Kriya announces new £50m funding facility from Viola Group
Kriya aims to use the facility to enhance its offerings for B2B retailers.
Jack Dorsey’s Block lays off staff across Cash App, Square and foundational teams
The cuts are to be actioned with immediate effect, according to a staff memo from Dorsey.
PayPal to trim workforce by 9% over 2024 in bid to streamline business
PayPal president and CEO Alex Chriss says the cuts aim to “reduce complexity and duplication”.
What the FinTech? | S.5 Episode 1 | The growth of fintech in Africa
In this episode of the podcast, we’re joined by Hangwi Muambadzi, Principal and Head of Africa at CommerzVentures.
UK fintech Paysme winds down operations
Founder Derek Stewart says Paysme is “not in a sufficiently strong financial position to grow to the next milestone”.
Power in simplicity: confirmation of payee provider SurePay wins at Banking Tech Awards
Making life difficult for fraudsters but easier for business is the real success story, says SurePay.
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.
Bread Financial names former Amex CIO Allegra Driscoll as new CTO
Driscoll has also previously held senior positions at Goldman Sachs and Credit Suisse.
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.
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.
CFPB proposes new laws to stamp out NSF fees for transactions declined in real time
NSF fees on debit card and ATM transactions will be “unlawful” under the proposed rule.
Former Adyen exec Jan-Pieter Lips joins UK’s DNA Payments as CEO
The London-headquartered firm has tasked its new CEO with leading its next period of growth.
PayTech Awards 2024 sponsorship opportunities
Unmissable sponsorship opportunities – digital and physical – at the upcoming PayTech Awards on 28 June.
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.
Oracle strikes deal with Slovenia’s SID Bank for core banking and payments technology
The bank will utilise Oracle’s core banking, payments, trade finance, treasury and corporate lending applications.
Finnish fintech Aibidia names Matthias Grabellus as new chief product officer
Aibidia says Grabellus will be tasked with globalising its product suite for cross-border business management.
Aussie paytech EML Payments to wind down Irish subsidiary PCSIL
Interpath Advisory has been instated as provisional liquidator for PCSIL.
Demystify Podcast: Lettspay and Griffin – demystifying working with a challenger bank
Our guests on the Demystify podcast this week are Adam Moulson, Griffin’s COO, and Garrett Foxon, CEO of Lettspay.
DailyPay secures $175m in debt and equity to tap new markets
The $75 million equity funding valued the NYC-headquartered fintech at $1.75 billion.
LatAm fintech Pomelo secures $40m Series B led by Kaszek
The fintech has now raised $103 million to date, including a $35 million Series A in October 2021.
ICYMI fintech funding round-up: Prometeo, Zeal, Detected and Finbridge Global
A handy round-up of the recent funding endeavours of fintech companies across the globe.
NPCI teams up with Google Pay to expand UPI beyond India
UPI has been recognised as a key accelerant in the real-time availability of financial services in India.
Join us as a judge for PayTech Awards 2024!
The prestigious PayTech Awards 2024 invites payments professionals to apply to join the esteemed panel of judges.
Put yourself in the spotlight at this year’s Banking Tech Awards USA
Nominations for the 2024 awards are now open – apply today!
Nepal’s Kumari Bank taps Compass Plus Technologies for payments processing
The pair states that it has migrated over 500,000 cards, 1,200 POS terminals and almost 300 ATMs.
The ai Corporation names CCO Piers Horak as new CEO
Horak succeeds Dr Mark Goldspink in the role after over 10 years with the UK-based paytech.
Save the date: The Banking Tech Awards celebrates its 25th anniversary on 4 December
Nominations for the 25th annual Banking Tech Awards will open this spring.
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.
Paymob lands PSP licence from Oman’s central bank
Paymob now claims to be the first international fintech company to be fully licenced in Oman.
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.
Subscription billing fintech Recurly names Joe Rohrlich as CEO
Rohrlich previously served as CEO of Top Hat, a US-based higher education engagement platform.
Commerzbank forms joint venture with Global Payments for SME payment solutions
The new joint venture, Commerz Globalpay, is expected to launch in H1 2024 and will be based in Frankfurt.
Brazil’s Conta Simples plots product expansion following $41.5m Series B
The company last raised $24 million during a Series A round in December 2021.
JP Morgan Chase-owned WePay reportedly offboards a number of business clients
JP Morgan Chase bought WePay back in 2017 in a $400 million deal in a push to compete with Stripe.
European fintech funding round-up: Unbox, Rivero, ProjectPay & Ryft
Our weekly fintech round-up for you to get the latest funding news from across Europe.
