Start-up


Barclays Africa looks for innovation heads-up with nine start-ups

Barclays Africa will collaborate with nine firms to explore new technology-based solutions to improve its banking services. The nifty nine are not just fintech but include Abe.ai and Kapitalwise from the US; FOMO Group and Byte Money from South Africa; and FlexPay, Spatialedge, Sun Exchange and Avenews-GT. Details below if you want the full show. […]

Personal Capital extends Series E funding round by $40m

Wealth management company Personal Capital has scored $40 million in additional funding. The money comes from existing investors as an add-on to the $75 million Series E the firm received from IGM Financial in May 2016, reports Finovate (Banking Technology‘s sister company). This brings Personal Capital’s total funding to $215 million since it was founded in 2009 […]

Banking Technology Awards: celebrating people that make things happen

This year’s Banking Technology Awards will be taking place on 13 December in London and once again we will be celebrating people that make things happen! The Leadership Awards will recognise individuals and teams that made a considerable contribution to our industry. What are the categories you can nominate in? Woman in Technology (W.I.T.) Award, in partnership with FemTechGlobal, will […]

Mobile identity firm Juvo scores with $40m in new funding

In a round led by New Enterprise Associates (NEA) and Wing Venture Capital, mobile identity scoring specialist Juvo has raised $40 million in new funding, reports Finovate (Banking Technology‘s sister company). The Series B, which featured participation from SignalFire and other existing investors, takes the company’s total funding to $54 million. Juvo will use the […]

xPressTap wants to eliminate payment card readers

With the launch of its Tap2App merchant payment solution and pilot programme, xPressTap is enabling micro-retailers and small business owners to use their smartphones to accept card payments without a dongle or a portable card reader, reports Paybefore, Banking Technology’s sister publication. The California-based start-up says its patented technology turns any NFC-enabled smartphone or tablet […]

Digital asset start-up NextBlock out of the blocks with $20m funding

Toronto-based NextBlock Global, a new digital asset investment company, has got itself off to a good start with the closing of an “oversubscribed” $20 million financing round. Like many other start-ups, NextBlock says it’s “disruptive” – and is setting its targets on the new digital asset economy. It says these assets, like Bitcoin and Ethereum, […]

Lendico and SolarisBank team up for SME lending

The Berlin-based duo of peer-to-peer lending provider Lendico and fintech firm SolarisBank are working together on a long-term collaboration for financing SME loans. To begin with, SolarisBank is providing an “eight-digit sum” for financing loans via Lendico – with unspecified plans to expand this commitment in the medium-term. Dr. Clemens Paschke, co-founder and managing director […]

UK fintech start-up DueCourse goes into administration

UK-based DueCourse, a cloud-based invoice financing start-up, has run its course with the revelation that it has gone into administration. The bad news comes less than a year after it received £6.25 million in funding from investors, including the founders of TransferWise, and non-fintech firms such as LinkedIn, Zoopla and Lovefilm. According to online publication […]

Fintech funding round-up: 28 July 2017

The riches rounded up. Following on from the brief report on 26 July, here’s our latest fintech funding round-up. Features Brolly, Callsign and Aquiline Capital Partners. Insurtech start-up Brolly has got itself some lolly – with the closing of a £1 million seed round. The round, led by Valar Ventures, Pi Labs and Entrepreneur First, […]

Visa invests in payment card issuing platform Marqeta

Visa and Marqeta, the open API payment card issuing platform, have formed a multiyear, global partnership to “drive further innovations in commercial and consumer payments”. What’s more, Visa has made a strategic investment in Marqeta to support the company’s domestic and international growth. Initially, the partnership will involve expanding opportunities for virtual, physical and tokenised […]

Hong Kong kicks off fintech career accelerator scheme

Fintech is coming on strong in Hong Kong with the unleashing of a career accelerator scheme to tap into the juicy veins of young blood. The Hong Kong Monetary Authority (HKMA) and the Hong Kong Applied Science and Technology Research Institute (ASTRI) have launched their Fintech Career Accelerator Scheme (FCAS) induction day today (27 July), […]

Legal & General Insurance unveils fintech business

Legal & General Insurance (LGI) has created a new business to build and buy into a range of fintech companies. LGI says its fintech subsidiary Investments Discounts Online (IDOL), which was established in 1999, will form a key part of the new fintech business area. Nick Frankland, who’s been with LGI since 2010, will take […]

Blockchain firm Symbiont gets investment from Medici Ventures

Blockchain technology investor Medici Ventures has teamed up with Symbiont, providing investment to the company and announcing a collaboration involving both Medici and its parent company Overstock, reports Finovate (Banking Technology’s sister company). The partnership will enable Medici Ventures to become the first company to register corporate ownership shares using the blockchain. The news follows on […]

Australia calls for risk-loving fintech firms

The Risk Management Association of Australia (RMA) has partnered with KPMG and match-making firm Matchi to offer three fintech companies the opportunity to pitch their solutions to forty chief risk officers (CROs) from various Australian banks. KPMG is arranging this year’s CRO roundtable event for the RMA members with the theme “Generation Next”. Matchi says […]

Fintech funding round-up: 26 July 2017

Bread but with the bluster removed. Following on from yesterday’s concise report, our latest fintech funding round-up keeps it brief. Features Cleo, Skype, ItzCash, Ebix and research from Innovate Finance. The “Siri of personal finance,” Cleo, a virtual money assistant, has received £2 million in funding from Skype’s co-founder Niklas Zennström and venture capital (VC) […]

Fintech funding round-up: 25 July 2017

Whether you call it dinero or dough, the fintech funding does flow! This latest round-up features Revolut, Constellation Digital Partners, Paytm, Mobiquest Mobile Technologies and Wesleyan Bank. Following on from the $66 million raised in a Series B round, UK-based payments start-up Revolut is looking for an additional £4 million in exchange for shares in […]

JP Morgan Chase start-up portfolio with CFSI powers on

JP Morgan Chase is more than halfway through its five-year $30 million commitment to start-up innovation in its partnership with Centre for Financial Services Innovation’s (CFSI) FinLab, reports Finovate (Banking Technology’s sister company). Each of the past three years, fintech start-ups have been invited to apply to the accelerator which is focused on finding financial solutions for low- and […]

Banking Technology and FemTechGlobal looking for inspiring women in fintech

Do you know any special women in technology who have made a huge contribution to fintech? Then we want to know! Banking Technology and FemTechGlobal, a global diversity and inclusion organisation, are again on the look-out for all amazing women who deserve the Woman In Technology (W.I.T.) Award, part of Banking Technology’s 2017 annual Awards show. […]

New Indian SME digital bank Open readies for launch

India’s SME-focused digital challenger bank Open is getting ready for its mid-August launch with a round of seed funding. Open calls itself “Asia’s first SME neo-banking start-up” and is using the same business model as Tide in the UK and Finnish start-up Holvi (recently acquired by BBVA). With its launch date in sight, the bank […]

The Monday mindset: 24 July 2017

Fintech zeitgeist! Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. This week, Claire Calmejane, director of innovation at Lloyds Banking Group, presents “Digital Zero to Hero: Myth Debunking”. (This is part of a series […]

Aire pulls in $5m, lands partnerships with Zopa and Toyota Financial Services

Alternative credit scoring company, Aire, has raised $5 million in Series A funding. The round was led by Sunstone Capital, with funds also coming from White Star Capital, which led the company’s 2016 seed round. Aire’s funding now totals $12 million, reports Finovate (Banking Technology’s sister company). The London-based company plans to use the funds […]

New investment boosts Betterment valuation to $800m

Robo advisor Betterment is now that much closer to achieving unicorn status – courtesy of a $70 million investment from Sweden’s Kinnevik. The investment takes Betterment’s total capital to $275 million, and gives the robo advisor a valuation estimated at $800 million, reports Finovate (Banking Technology’s sister company). Praising the “strong partnership” between his firm and Kinnevik, Betterment CEO […]

DoubleNet Pay garners $4m investment

Financial wellness company DoubleNet Pay has closed $4 million in seed funding. The investment, which marks the Atlanta-based company’s first round of funding since it was founded in 2013, comes from TTV Capital and Fuqua Investments, reports Finovate (Banking Technology’s sister company). The 12-person company will use the funds to boost product development and bolster sales. […]

LendKey raises $13m in equity and debt financing

Lending-as-a-Service (LaaS) specialist LendKey raised $13 million in Series C funding this week, reports Finovate (Banking Technology’s sister company). The round consisted of both equity and debt financing ($8 million of the former, $5 million of the latter) and was led by Maine-based North Atlantic Capital. Also participating in the investment were existing investors DFJ, Gotham […]

Data Pitch launches European accelerator

Data Pitch has unleashed its new accelerator in the search for start-ups and SMEs across Europe with fresh ideas for data products and services. The plan is to connect data providers “with nagging business problems” to firms with the right solutions. It’s not limited to fintech, but successful applicants will receive up to €100,000 equity […]

OCBC Bank fights money laundering with AI double act

Singapore’s OCBC Bank has piloted two fintech solutions from a pair of start-ups as it looks to combat money laundering and terrorism financing via artificial intelligence (AI). The two firms involved – BlackSwan Technologies and Silent Eight – were part of OCBC’s second fintech accelerator programme, Open Vault, which was launched last year. Both companies […]

Fintech funding round-up: 20 July 2017

It’s a treble yell! Following quickly on from 18 July and 19 July, this latest fintech funding round-up features Receipt Bank, Billon Group and TickSmith. Receipt Bank, a bookkeeping automation platform (not an actual bank), has raised $50 million in Series B funding from Insight Venture Partners. The investment will be used to accelerate growth […]

EquityZen secures $3m funding

EquityZen, a secondary marketplace for trading pre-IPO shares, has taken in $3 million in funding this week, reports Finovate (Banking Technology’s sister company). This Series A round brings the company’s total funding to $6.5 million. Draper Associates led the round, with WorldQuant Ventures also participating. The EquityZen marketplace connects shareholders of private companies with its current pool of […]

Fintech funding round-up: 19 July 2017

Following on from yesterday’s fintech funding fun, here’s our latest round-up. Features Finstar Financial Group, Adjoint, Karmic and Trupay. Finstar Financial Group will invest $150 million into new start-ups over the next five years, Oleg Boyko, the chairman of Finstar, has confirmed. The money will also be used for research and development (R&D) within the […]

Nesta names 20 fintechs fired up for £5m SME innovation fund

UK-based innovation foundation Nesta has revealed the 20 fintech firms who will participate in its Open Up Challenge as it looks for services, apps and tools for SMEs – with a £5 million prize fund on offer. As reported in March, Nesta launched its challenge – open to entries from anywhere in the world that […]

Flybits raises $6.5m to help banks put data to work

Consumer data contextualisation company Flybits pulled in $6.5 million this week, bringing the Toronto-based firm’s total funds to $14 million, reports Finovate (Banking Technology’s sister company). The Series B funding was led by Information Venture Partners. New investor Portag3 Ventures LP also participated along with existing investors Robert Bosch Venture and Trellis Capital. As a part […]

Fintech funding round-up: 18 July 2017

You’ve come to the right section for cash injection. Today’s fintech funding round-up features Contego, Privitar, Form3 and Barclays. Maven Capital Partners, a UK private equity house, has led the £3.5 million investment in Contego Fraud Solutions to support its growth plans. Maven is putting in £1.8 million, NVM Private Equity is investing £1.5 million, […]

Monzo gently rolls out current account

Mobile-only challenger bank Monzo is taking it nice and easy with a steady roll-out of its current account. The bank, which received its full UK banking licence in April, says it’s been using the current account internally and today (17 July) is now inviting some of its customers to join and “help put it through […]

FinLeap reveals new €39m funding, partners and HQ

German fintech incubator FinLeap has a spring in its step with new capital, new partners and a new HQ. The company has raised around €39 million from several investors, including the German Insurer Signal Iduna, SBI Group from Japan and the Dutch NIBC bank. Furthermore, the reinsurer Hannover Re, as a “big institutional investor”, raised […]

Turnkey Lender raises $2m in Series A funding

In a round led by Vertex Ventures, the venture capital wing of Temasek Holdings, Turnkey Lender has picked up $2 million in funding, reports Finovate (Banking Technology’s sister company). The Singapore-based company specialises in loan management technology, delivered over the cloud, that automates all stages of the lending life cycle – from application processing to collections […]

Sumitomo Mitsui takes its place at Entrepreneurs Roundtable Accelerator

Sumitomo Mitsui Financial Group (SMFG) and Sumitomo Mitsui Banking Corporation (SMBC) are partnering with New York-based Entrepreneurs Roundtable Accelerator (ERA) for business development and tech innovation. According to Sumitomo Mitsui, ERA is New York’s largest and oldest tech accelerator, with 140 portfolio companies involved in a variety of markets. These firms have a combined market […]

Sydney and Melbourne launch fintech start-up hubs

It’s a double development delight in Australia with Sydney and Melbourne unveiling fintech start-up hubs for innovation across the nation. Industry body FinTech Australia says Sydney’s proposed new 11-floor start-up hub – set to be the largest in the southern hemisphere – “should help build even stronger links between the Australian fintech industry and global […]

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