FinTech Futures: Top five stories of the week – 16 September 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Start-up
Goldman Sachs and Modern Treasury partner for embedded payments initiative
Modern Treasury and Goldman Sachs Transaction Banking aim “to accelerate the shift to embedded payments”.
ICYMI fintech funding round-up: Kippa, Payall, Trek Health and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Europe fintech funding round-up: Claimer, Freetrade, InvestSuite, Ruleguard
A handy round-up of the recent funding endeavours of fintech companies across UK and Europe
US credit card start-up Power raises $316m funding
The start-up has raised $300 million in a credit facility and $16.1 million in seed funding.
US fintech Kafene lands $18m in Series B funding
The new funding will be used to increase Kafene’s employee headcount and onboard more merchants onto its platform.
US digital bank for migrants Majority lands $37.5m Series B
Majority says it will deploy the new funds towards enhancing its suite of essential services.
Fintech analytics start-up KlariVis signs First Farmers Bank & Trust
KlariVis says it was built by bankers for bankers.
Former Citi banking veteran joins leadership team of challenger bank Zolve
Freiberg was co-chairman and CEO of Citigroup’s global consumer group for three decades.
New challenger Wio Bank launches in the UAE
It will provide financial solutions via digital banking apps, embedded finance and as Banking-as-a-Service.
US fintech Bankjoy appoints Michael Carroll as its new CTO
Carroll will oversee the development of technology, supporting Bankjoy’s digital service ecosystem.
Software management start-up Cledara lands $20m Series A
The money raised by Cledara will go towards the US expansion.
Are challenger banks now facing challengers of their own?
For the first time in their short history, the challengers are now being challenged themselves.
UK’s Amplifi Capital launches personal loans provider Reevo Money
Reevo Money says its ultimate goal is to help people build their credit rating.
How Etcho is aiming to help save the planet through conscious investing
Etcho wants to increase people’s knowledge and awareness of the global impact of their investments.
Chilean fintech Xepelin lands $140m credit line from Goldman Sachs
The credit line is designed to help finance further expansion into Mexico, Bloomberg reports.
ICYMI fintech funding round-up: R2, NowNow and Hive Wealth
Our weekly fintech round-up for you to get the latest funding news from around the world.
Europe fintech funding round-up: Ark Kapital, Credix and Nokkel
A handy round-up of the recent funding endeavours of fintech companies across Europe.
Mesh Payments lands $60m in Series C funding
The new money will be used to expand its go-to-market efforts and accelerate product innovation.
New challenger bank in the UK – StreamBank
StreamBank intends to be a partner for property professionals looking for bridging or development finance.
Swiss digital bank Alpian partners Visa for new debit card
Alpian has plans for a full public rollout by the end of this year.
Mexican fintech Clip lands $50m credit facility from top banks
The funding will be used to “improve financial access” for Mexican businesses.
Mambu core banking tech underpins new African bank, Carbon Finance
Nigeria’s Carbon Finance is now a full-service bank with pan-African aspirations.
Colombian fintech start-up Plurall bags $20m debt funding
The debt funding will be complemented by a seed equity round that Plurall is currently raising.
Liberty Bank to launch new digital bank for small businesses next year
The new digital bank for small businesses will operate as a separate entity under Liberty Bank.
DeFi for the masses — crypto investment platform Solvo readies for launch
Solvo will offer investments, savings, crypto buying and selling as well as a card for payments.
African challenger Kuda cuts 5% of workforce
Kuda says cuts were made across growth, marketing and product departments in the company.
US fintech Carta snaps up UK counterpart Capdesk
Together, the firms also have plans to expand into new markets such as India and Singapore.
Danish fintech start-up Moneyflow lands €250m in debt financing
Moneyflow says the facility will help accelerate the rollout of its embedded finance services.
US fintech start-up Solid lands $63m in Series B funding
The round was led by FTV Capital, with existing investor Headline also participating.
New digital bank Trust launches in Singapore
Trust Bank’s shareholders have invested $285 million in the new challenger.
ICYMI fintech funding round-up: Banco and Stake
Our weekly fintech round-up for you to get the latest funding news from around the world.
Europe fintech funding round-up: Justhome, Ryft and SageWealth
A fintech funding round-up featuring three start-ups from Europe.
Africa fintech funding round-up: Pezesha, Duplo, SubsBase, Grey and Anchor
A handy round-up of the recent funding endeavours of fintech companies across Africa.
Banking Technology Magazine September 2022 issue out now
Cover story: MONEY PUZZLE – Helping US arrivals get on track financially.
UK parliamentary group on challengers calls for financial services “big bang”
The APPG says reforms in the sector could support the government’s levelling-up agenda.
What the FinTech? | S.3 Episode 13 | A look at what’s in store at FinovateFall
In this episode of the podcast, we’re joined by Greg Palmer, vice president and host of Finovate.
Q&A: How SEBx aims to “reinvent banking inside the bank”
Christoffer Malmer, head of SEBx, discusses the Nordic bank’s BaaS venture with FinTech Futures.
Y Combinator appoints Garry Tan as its next president and CEO
Tan previously joined Y Combinator as a partner back in 2010 before leaving in 2015.
Web3 credit scoring start-up Spectral raises $23m
The firm leverages blockchain technology to calculate credit scores.
