Webull set for Nasdaq public listing via $7.3bn SPAC merger
The merger between Webull and SK Growth Opportunities is due to close in H2 2024.
Super-app
State of play: banking
Banks are facing a myriad of challenges, from transformative technological shifts to increasing competition.
Viva Republica’s Toss Bank announces Rhee Eun-mi as first female CEO
Rhee Eun-mi joins from DGB Daegu Bank, where she has been serving as CFO and managing director.
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”.
Singapore’s GXS Bank reportedly receives $109m investment from parent company Grab
The capital injection follows a $104m investment in July and a $56.8m investment in April last year.
Rappi to discontinue RappiCuenta offering in Mexico next month
Users in Mexico have been asked to withdraw all funds before the closing date of 11 February 2024.
US stock trading app Webull enters Mexico with Flink acquisition
The deal also includes Mexican brokerage house Vifaru Casa de Bolsa, which Flink agreed to purchase in 2022.
Orange launches super-app Max it in Africa
The app will debut in Cameroon, Senegal, Mali, Burkina Faso and Botswana.
Monzo hires Brolly founder Phoebe Chibuzo Hugh to lead its “charge into insurance”
Hugh founded digital insurance platform Brolly in 2016, which was acquired by Direct Line Group in 2020.
Ziglu founder Mark Hipperson rejoins company as executive chairman
Kevin Hanley and Mark Jenkinson are also joining Ziglu as co-CEOs.
FinTech Futures: Top five stories of the week – 27 October 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Colombia’s Nequi taps TerraPay for international remittances
The partnership will extend the app’s remittance network to over 200 countries worldwide.
Coop taps Additiv to launch new financial services app Coop Finance+
Coop says its “super-app” will provide banking services, payments and pension solutions to its customers.
Íkualo to launch next month as neobank for Europe’s financially excluded immigrant community
The licensed electronic money institution will be able to onboard new customers with just a passport.
Revolut reportedly in talks with the UK’s FCA over AML failures
The fintech reportedly allowed funds to be released from accounts which were flagged as suspicious by the National Crime Agency (NCA).
CardsPal founder and CEO Saim Yeong Harng steps down three months after Utu acquisition
Utu acquired the Singapore-based lifestyle app in June following its $33 million Series B.
Fintech start-up Rauva buys Banco Empresas Montepio for €30m
Rauva’s CEO and founder, Jon Fath, says the start-up is on its way to become one of Portugal’s first unicorns.
BMO Commercial Bank taps Extend to launch corporate spend management app
BMO is the first global Mastercard issuer to offer contactless virtual cards through Extend.
Beyond the single customer view
Even if we have all the data on our finances, we need to be able to understand it.
Naga integrates Rezolve AI into its social trading platform
The integration is also set to extend to Naga’s e-payments solution, Naga Pay.
US fintech Block set to close European payments app Verse
The move is part of Block’s plans to reduce brand spending.
ICYMI fintech funding round-up: Pockit, Orbital, Traction & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Alexander Weber departs as CGO of German challenger N26
Weber is departing the position to pursue his own entrepreneurial journey.
Bank of England reportedly planning to reject Revolut banking licence
The PRA reportedly intended to issue a warning notice to Revolut over its balance sheet.
Revolut’s chief financial officer Mikko Salovaara departs
Salovaara’s departure follows the exit of James Radford in March, who served as chief executive of banking.
Banking super-apps, marketplaces, ecosystems and platforms
You should always have a clear understanding of exactly what you’re building before you get started.
Banking on SMBs: How Rauva aims to bridge the business app gap in Portugal
FinTech Futures speaks with Rauva founder Jon Fath about the company’s launch and future plans.
UK fintech Revolut marks Latin America debut with Brazil launch
Revolut will initially offer a multi-currency account and crypto investing for customers.
State of play: European fintech
The recent FinovateEurope conference featured a number of key discussions on the European financial services sector.
A day at the circus
The last few years have shown us that the arrogant, ‘I will take over the world’ founder… didn’t.
FinTech Futures: Top five stories of the week – 3 March 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Revolut records first full year of profitability, plots global expansion
In its long-awaited annual report, Revolut says it recorded £26.3 million in profit for 2021.
Inter&Co acquires real estate investment start-up YellowFi
Inter&Co provides financial services through its ‘super-app’ to more than 25 million users.
Ten fintech predictions for the year ahead
2023 will be another year of fintech innovation and growth.
2022: The year of fintech job cuts
FinTech Futures takes a look back at a bruising year of job cuts in fintech.
South Korean tech firm behind super-app Toss raises $405m Series G funding
Tonic Private Equity led the Series G round along with a number of existing investors.
Financial super-app Curve lands $1bn credit facility from Credit Suisse
The firm plans to scale its lending business Curve Flex across the UK, EU and US.
Saudi financial super-app Tweeq lands central bank e-money licence
Tweeq leverages Paymentology’s Banking.Live platform and hopes to launch its app soon.
Spanish employee benefits platform Cobee raises €40m Series B
Cobee plans to expand throughout southern Europe and into Latin America, particularly Mexico.
North African super-app Yassir lands $150m to fuel expansion
The new funding brings the total capital raised by Yassir to around $193 million since launch.
