Ghana’s Fido raises $30m Series A to broaden financial inclusion in Africa
Fido has now raised $38m to date and intends to use the fresh capital to launch new financial products in Ghana.
Start-up
Brex to stop serving “traditional” small businesses
Small businesses using Brex have until August 15 to move their funds.
UK start-up StrideUp in £280m funding deal for new mortgage plan
It has also entered a strategic partnership with ARA Venn, a real-estate debt investment manager.
Starting small: how Nearside is trying to help create a more inclusive economy
With this rise in new small businesses comes a need for new banking services catered to these new entrepreneurs.
What the FinTech? | S.3 Episode 9 | Smart applications for AI and ML
We are joined by Jethro MacDonald, product manager, artificial intelligence and machine learning at SmartStream.
Gen Z financial assistant app Cleo raises $80m at $500m valuation
Cleo will use the funds to shore up and expand its services as a global economic winter begins to bite.
The Bank of London invests in Belfast and creates over 200 new jobs
The Bank of London says it is making a “multi-million pound” investment in Belfast.
US fintech Wahed Invest to receive $50m in Series B funding
The Series B round will support the start-up’s plans to launch an ethical neobank.
Denmark’s Mazepay receives pan-European payments license to streamline B2B purchases
The license will enable Mazepay to handle transactions on behalf of companies.
FinTech Futures: Top five stories of the week – 17 June 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Banking start-up Fiinu to launch plug-in overdraft, list on LSE
Fiinu is set to be acquired by media company Immedia for approximately £37.5 million.
Digital banking tech vendor Narmi raises $35m Series B
The fresh capital will be used to develop and accelerate the overall digitisation of the US banking industry.
New banking app Chippit launches in beta in Australia
Founded in May this year, Chippit calls itself a “social banking app”.
ICYMI fintech funding round-up: CapIntel, Clausematch, Swoop & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
CBA’s new digital mortgage brand, Unloan, underpinned by Mambu’s tech
CBA positions Unloan as “a revolutionary force in the Australian mortgage industry”.
Indonesian paytech Flip bags $55m in second Series B round
The new funding brings Flip’s total Series B round to over $100 million.
Nuula launches operations in Canada for small business owners
Nuula provides financial products and services to small business owners.
Airbank raises $20m to build “the most comprehensive global SMB banking solution”
Airbank raises $20m in a Series A funding round led by Molten Ventures.
Virgin Money in three-year deal with Trade Ledger to digitise business lending
“At the heart of the partnership is the delivery of a digital decisioning platform,” Trade Ledger says.
Challenger bank for UK SMEs, Allica, secures additional £55m funding
The total funding raised by Allica Bank now stands at £285 million.
Open banking specialist Yapily appoints new CTO
Yapily has named Noam Oren its new CTO as it plans European expansion.
Jewel Bank, a new digital asset bank, launches in Bermuda
Bitbull Capital invested in Jewel Bank’s Series A round in 2022.
New financial planning start-up Fruitful raises $33m in funding
The rounds were led by Emigrant Bank and 8VC with participation from other investors.
Layoffs and hires: Curve, Gemini and Citigroup
Curve and Gemini lay off employees, while Citi plans on hiring 4,000 techies.
Blockchain-based trade finance platform we.trade shuts shop
We.trade claims to be “the world’s first enterprise-grade blockchain-enabled trade finance platform”.
New trade finance bank Neotrade launches in the UK
Neotrade provides financing for SMEs using an AI-based scoring system.
New bank alternative, Fluid Finance, launches “revolutionary global super-app”
Fluid Finance offers “the world’s first bank alternative linked to your Web3 wallet”.
HSBC-backed trade platform Serai shuts down
Serai was on a mission “to simplify global trade” by providing supply chain solutions to brands and manufacturers.
Codat raises $100m from JP Morgan in Series C round
Codat aims to be “the default means of sharing data for the small business economy”.
MENA’s BaaS provider NymCard raises $22.5m funding
This venture round takes NymCard’s total funding to over $35 million.
Swedish fintech start-up Juni raises $206m in funding and debt financing
Juni’s Series B funding round comprises $100 million in funding and $106 million in venture debt financing.
Europe fintech funding round-up: Cryptio, Fung, Financielle and more
This weekly fintech round-up brings to you funding news from around Europe.
North America fintech funding round-up: Klasha, Proper, Manzil and more
A handy round-up of the recent funding endeavours of fintech companies across North America.
Money 20/20 Europe: Mastercard’s open banking guru on payments and data
Jim Wadsworth discusses working with fintechs, open banking, becoming a paytech and safeguarding data.
New European entrant in banking and payments space – Monty Finance
Its two main products are MyMonty, a digital banking service, and MontyPay, a digital payment gateway system.
Challenger banks Allica and Plazo turn to Mambu for tech
Allica Bank is live with Mambu’s core, while Plazo will use the vendor’s tech to support its lending business.
Money 20/20 Europe: How is the rise of fintech transforming the next generation of banking?
Kahina Van Dyke believes the biggest shift in legacy financial services is learning to unlock human potential.
New super-app Rauva aims to fill Mediterranean online banking gap
Rauva plans to launch its app in early 2023, initially in Spain and Portugal.
LatAm paytech Kushki valued at over $1bn following Series B extension
Kushki says the funding will be used to accelerate development of its payments infrastructure.
How Stilt is helping immigrants build a financially stable life in the US
FinTech Futures chats with Stilt co-founder Rohit Mittal about the firm’s aims to help immigrants in the US.
