APIs, open banking and the changing face of financial services
The pandemic played a substantial role in boosting the adoption of open banking and APIs.
Start-up
Digital wealth manager Wealthsimple exits UK
All eligible accounts will be transferred to Moneyfarm in January.
WeLab to launch new digital bank in Indonesia following BJJ acquisition
WeLab has raised $240m to fund the acquisition – “the largest fintech funding in Indonesia in 2021”.
Start-up Quantile acquired by London Stock Exchange Group
LSEG will pay a maximum aggregate consideration of up to £274 million to Quantile’s shareholders.
Finnish paytech Enfuce raises €45m in Series C round
The Series C investment round was led by Vitruvian Partners, with participation from Tencent.
Mexican spend management start-up Mendel lands $35m in new funding
Funds will be used for product development and to accelerate growth in Mexico and Latin America.
DIY investment platform Tillit launches
Tillit offers “a curated investment universe, exclusive content and a fee that is based on time rather than wealth”.
Banking service for migrants Majority raises $27m in Series A
The company has identified 180+ unique migrant communities it intends to offer its services to.
Fintech funding deals globally 29 November – 5 December 2021
Featuring Slice, 1inch, Prytek, Kueski and Fundbox.
Finance reporting start-up Abacum gains $25m Series A funding
The company provides a SaaS platform for streamlining reporting and improving forecasting accuracy.
Slice hits unicorn status with $220m Series B funding round
Cash injection will be used to further develop its product offerings and hire more staff.
Indian fintech start-up Simpl lands $40m in Series B funding
Fast-growing Indian e-commerce sector is in the company’s sights with its cardless payments offerings.
ICYMI funding round-up: Bunq, Qapita, GajiGesa, Knowledge Bank, Anchor, Goalsetter, & Lamaa
In Case You Missed It (ICYMI) funding round-up for you to get the latest fintech funding news.
Australia’s Mr Yum secures $64m Series A funding
Female-led company is focused on mobile orders and payments in restaurant and hospitality sectors.
New neobank designed exclusively for women of colour launching in 2022
GoWomen says it will provide banking services and financial awareness and wellness products.
Jeeves and Mastercard partner in Mexico for physical and virtual business cards
Tie-up follows $188m funding for Jeeves, which launched at the start of 2021.
The Bank of London launches in UK with $1.1bn valuation
The company received its first bank licence as the sixth principal clearing bank of the UK.
YouTrip plans B2B expansion following $30m Series A
The Singapore-based fintech offers a multi-currency wallet, with a push into the corporate market now planned.
Money management app Plum raises $24m from investors and crowdfunding
The London-based company plans European expansion and product development.
New neobank Migom provides unbanked entrepreneurs essential banking services
The digital bank also provides crypto capabilities, including instant crypto transfers.
Digital wealth app Endowus secures $27m in latest funding round
The Singapore start-up gains backing from new and existing investors from across Asia.
In your own time
If you think you can dictate timings for the business you are in, think again.
New e-money fintech Twig launches in UK
Twig customers can turn their unwanted possessions into cash.
Mastercard acquires Latin American Start Path protégé Arcus
The payments specialist will aid introduction of Mastercard Bill Pay to Latin America.
Dear Luc: When is the best time to go fundraising?
Feeling the pressure seeing all the funding rounds lately for fintechs so early on in development?
ICYMI funding round-up: Pomelo Pay, Nudge, Recordent, fintus, EarlyBird, WLTH, and Basiq
In Case You Missed It (ICYMI) funding round-up for you to get the latest fintech funding news.
Payhawk raises $112m in second largest B2B Series B in CEE
Funding round takes payments and expenses solution provider to $570m valuation.
What happens next?
The deal is: you can moan and rant and vent as much as you want. Provided you do something next.
Family savings fintech UNest raises $26m in Series B round
Company is one of the few US fintechs with a female founder to gain investor funding to date.
US fintech start-up Settle closes $60m Series B round
The San Francisco-based company has now raised $100m in total funding to date.
8fig raises $50m to reinvent supply chain management for e-commerce sellers
8fig says it’s on a mission to propel 10,000 sellers to eight-figure revenue by 2025.
UK challenger Bank North goes crowdfunding
The SME focused start-up aims to raise £1 million ahead of its Series B funding round.
The right way to build a fintech
Fintech entrepreneurs need to ensure they get back-end processes right when launching their business.
Mexican BNPL platform Aplazo completes $27m Series A round
Increase in headcount and Latin American expansion planned.
New fintech start-up Arbo Works gains seed funding ahead of launch
Set up by ex-Google execs earlier this year, the firm is embarking on a major recruitment drive.
Crypto platform Gemini secures $400m in first outside funding round
The new capital injection values the company at $7.1 billion.
Black-owned Adelphi Bank files for licence in the US
The new bank is intended to provide African Americans with better access to financial services.
US credit card fintech Black Opal prepares for full launch
The firm intends to issue credit cards for expats and is seeking funding of $100m.
Upgrade raises $280m in Series F funding at $6bn valuation
The fintech has raised $600 million in equity capital since inception in 2017.
Singapore fintech Sleek raises $14m to fund global expansion
The company’s platform acts an ‘operating system’ for entrepreneurs and small businesses.
