FinTech Futures: Top five stories of the week – 27 May 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
PayTech
Payments fintech Bolt announces layoffs
The news follows a string of layoffs in the fintech space in recent weeks.
White paper: Intelligence capabilities for AML and CFT regulatory compliance
Enhancing KYC, AML, CFT and due diligence investigations for finance, banking and compliance sectors with digital intelligence.
Card-issuing platform Marqeta partners Evolve Bank & Trust
Evolve will support the full range of Marqeta’s card programme management capabilities.
Payments infrastructure provider Paddle snaps up ProfitWell for $200m
Paddle will integrate ProfitWell’s financial metrics, as well as its pricing and retention software.
Aussie payments regulator sets out QR code guidelines
The voluntary guidelines are directed at financial institutions, payment service providers and merchants.
Payments network TransferMate hits unicorn status after $70m funding
TransferMate will use the funding to expand its teams globally and develop its technology and product offering.
How CBDCs will transform the way India transacts
The proposed implementation of CBDCs will completely change how the country perceives money.
Payments infrastructure firm Xendit lands $300m Series D round
This latest round brings Xendit’s total funding raised to date to $538 million.
SpotOn bags $300m Series F at $3.6bn valuation
SpotOn has raised $928 million in funding to date.
The Credit Thing goes live with TrueLayer’s recurring payments API
The Credit Thing will now use TrueLayer’s recurring payment API for improved customer experience.
Europe fintech funding round-up: Findity, Recognise Bank, Moneybox, Circit & Klarpay
Our weekly fintech round-up for you to get the latest funding news from around Europe.
Embedded payments platform Modulr raises $108m Series C
Modulr will use the funding to expand its geographic footprint and become a “pan-European payments champion”.
Nude partners GoCardless to deliver VRP inter-account payments
Via the GoCardless network Nude will be among the first in the UK to leverage Variable Recurring Payments (VRP).
Report: Northern Ireland fintech – leaders in ESG
A deep dive into how Northern Ireland became a pioneer in the advances of fintech, regtech and ESG.
NatWest Group fined £1.82m for overcharging credit card interchange fees
NatWest, RBS, Ulster Bank and Coutts incorrectly treated a number of cards as being ‘commercial’ cards.
LeapFrog and Tana Africa invest in Nigerian paytech Interswitch
LeapFrog and Tana will work with Interswitch to increase its customer base and develop new products.
Token lands $40m to scale open banking payments in Europe
Existing investors Octopus Ventures, Opera Tech Ventures and SBI Investment also participated.
Edge: PayTech – all you need to know on the future of payments technology
We’re launching a new virtual event, FinTech Futures Edge: PayTech, taking place on 21 July.
Nets buys German POS specialist orderbird
Nets is part of European paytech conglomerate Nexi Group, which will own 100% of orderbird.
Embedded payments platform Infinicept raises $23m to boost growth
The round was led by SVB Financial Group and Piper Sandler Merchant Banking.
EMEA funding round-up: Cashew, Stanhope, Elucidate, Spades, Sun Zu Lab & sqft.capital
A handy round-up of the recent funding endeavours of fintech companies across EMEA.
Credit card platform Deserve secures $250m credit facility
The new facility follows a $50 million Series D raise in October 2021.
Checkout.com snaps up French ID verification firm ubble
The deal is set to close later this year.
What the FinTech? | S.3 Episode 7 | The future of digital payments
In this episode of the podcast, we’re joined by Claire Gates, chief commercial officer at PPRO.
UK crypto payments and banking platform BVNK lands $40m Series A
BVNK’s CEO says the funds will allow the company to “expand our services, markets and operations”.
Egyptian B2B paytech Paymob raises $50m Series B
The Series B round, the largest fintech Series B in Egypt, was led by Kora Capital, PayPal Ventures and Clay Point.
Join our PayTech roundtable discussions
Join our upcoming roundtable discussions on the hottest topics in the payments industry.
Paddle raises $200m Series D round at unicorn valuation
The latest round brings Paddle’s total funding to date to $293 million.
Yapily to acquire fellow open banking firm finAPI
The deal is subject to regulatory approvals and is expected to complete in H2 2022.
New small business payments platform Hopscotch seeks to make invoicing hassle-free
Hopscotch, founded in June 2021, has raised nearly $10m from 12 investors.
Bridging the gap between new and old payment methods
Payment experiences have changed significantly, with ‘alternative payment’ methods gaining more and more traction.
Shortlist announced for PayTech Awards 2022
View the finalists for the 2022 PayTech Awards, with winners to be revealed on 1 July 2022.
FinTech Futures Industry Survey & Report 2022
A deep-dive into the trends defining 2022 and beyond, based on a comprehensive survey of the industry.
ICYMI funding round-up: Estateguru, SaaScada, tell.money, Cheq, GMEX & Bluezone
A handy round-up of the recent funding endeavours of fintech companies across the globe.
First Bank partners Finzly to offer payments services to business customers
First Bank says Finzly’s Payment Hub “gives us the speed and agility to offer a fintech-like payment experience”.
NatWest partners paytechs to offer new payment option via Variable Recurring Payments
The “industry first” deal will allow for transactions to be conducted near instantaneously.
Paytech GoCardless hires former Mastercard exec Paul Stoddart as president
In his new role at GoCardless, Stoddart will oversee the strategy, sales, product, marketing and customer teams.
EU Commission blasts anti-competitive Apple for lack of third party NFC access
The EU Commission claims Apple has violated anti-trust rules for the benefit of its own Apple Pay.
LatAm SME financial services platform Xepelin raises $111m Series B
The company operates in Mexico and Chile and has more than 450 employees spread throughout LatAm.
