Klarna lands $800m funding as valuation cut to $6.7bn from $45.6bn last year
The firm says it “has not been immune to the significant downdrafts of fintech stock in public markets”.
The firm says it “has not been immune to the significant downdrafts of fintech stock in public markets”.
The deadline for nominations for the Banking Tech Awards 2022 is Friday 22 July.
The new funds will be used to grow its 30-person team and for further product development.
The appointments sit alongside the nearly 500 new staff hired this year.
The company is developing an integration with Visa DPS.
Jajodia joined Revolut as chief banking officer in 2021 and will continue in this role alongside his new position.
Lee joins from micro-investing app Acorns, where she served as CFO and COO.
Both firms will continue to operate under their own brands with no change in leadership or headcount.
Here’s our pick of five of the top news stories from the world of finance and tech this week.
The firm says it has “filed voluntary petitions for Chapter 11 protection to implement restructuring”.
Madeira brings engineering and product building expertise from stints at Google, Snap, and Coinbase.
Sonovate says the deal will enable it to lend over £1.3 billion in invoices “this year alone”.
A handy round-up of the recent funding endeavours of fintech companies across the world.
Linkbancorp will look to utilise Jack Henry’s Banno Digital Platform and LoanVantage offerings.
A handy round-up of the recent funding endeavours of fintech companies across Europe.
Loureda will be tasked with helping Mode enhance its digital wallet offering.
Our weekly round-up for you to get the latest fintech funding news from the US.
Lucinity says the funding will help expand its customer base, partner network and product offering.
It’s hoped the integration will address a “major pain point for users” in the crypto ecosystem.
The partnership will make it easier for retail investors to invest in European businesses, Seedrs says.
Start-up says the funding will support expansion into Saudi Arabia, Pakistan, Ghana and Egypt.
Finuevo Core is the evolution of FMS.next, the vendor’s flagship core banking offering.
Intellect Design Arena will implement its Intellect Quantum system at the central bank.
Stripe and Revolut will explore opportunities to “deepen” their collaboration.
The new capital takes Tesorio’s total funding raised to date to $37.6 million.
Neither party will be required to pay the other a termination fee, as the decision was mutual.
The potential acquisition is pending a satisfactory outcome of the initiated due diligence process.
The newly-licensed bank marked the occasion by welcoming its first corporate customers.
Kasheesh reduces the cost burden on individual cards and helps users build their credit scores.
The Score Mastercard enables new-to-UK users to transact and build up their credit history.
As part of a joint venture with Eurobank, Worldline will hold an 80% stake in the new company.
BII is the new name of CDC Group, the UK government’s development finance institution.
NPP Australia has been working with the financial services industry to develop the PayTo service.
The new cash injection takes the firm’s total capital raised to £68 million.
Banks and building societies will have to assess the impact of any reduction in the services they provide.
The Novi app and Novi on WhatsApp will no longer be available starting 1 September 2022.
Dewar was CEO at GPS for over four years, while Schultz joins over from Fiserv.
The company’s available capital and funding will be redirected to its Australian business.
Synch provides an account-to-account (A2A) mobile payment solution for consumers and businesses in Ireland.
Careem plans to offer “simple and affordable international remittance services” through its super-app.