US neobank Oxygen bags $20m Series B, appoints new CEO
Former Sber CTO David Rafalovsky joins Oxygen as CEO, replacing founder Hussein Ahmed.
Business-to-Consumer/B2C
US fintech Stash appoints Liza Landsman as new CEO
Prior to joining Stash, Landsman served as general partner at NEA, a global venture capital firm.
PayPal to lay off 2,000 staff over the next few weeks
The job cuts will see PayPal reduce its total staff headcount be around 7%.
ICYMI fintech funding round-up: Twinco Capital, Architect and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
Kueski names ex-Stripe exec Fausto Ibarra as chief product officer
Ibarra brings over 20 years of experience, most recently serving as Stripe’s head of product for Latin America.
Alipay partners Splitit for ‘pay after delivery’ offering
The service will initially launch in Germany, France and Spain, with plans to expand into other global markets.
MICT completes acquisition of African agri-fintech firm Tingo
MICT owns “100% of the operating business and assets” of Tingo after snapping up Tingo Mobile.
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.
US fintech start-up Nirvana Money is shutting down just weeks after launch
On its website, Nirvana Money says all accounts will be closed on 1 December 2022.
Hamsa: A new investment app for women, by women
Hamsa will offer a recurring investment product with regular payments, designed for women.
Arta Finance exits stealth with more than $90m in funding
Arta raised the capital from Sequoia Capital India, Ribbit Capital, Coatue and more than 140 angel investors.
Credit Karma pauses “almost all new hiring” citing revenue challenges
The firm has made the decision “due to the uncertainty of the macroeconomic environment”.
Automated debt payment platform Tally bags $80m Series D
The round was led by Sway Ventures with participation from Menora Mivtachim, an Israeli insurance firm.
Global PSP Worldline obtains 40% stake in Dutch Online Payment Platform
OPP founder and CEO between them own the remaining 60% of the company.
New “hybrid” banking app Dexy gears up for launch in the US
Founded this year and based in Miami, Florida, Dexy is currently waitlisting applicants.
New banking and insurance app Onuu goes live in the US
Founded in 2021, Onuu claims to have 600,000 members on its waitlist.
Stash goes live with self-built core banking system Stash Core
Stash partnered with Stride Bank, Mastercard, Marqeta, Mambu and Alloy, among others, to develop Stash Core.
FTC orders Credit Karma to pay $3m for “misleading” consumers
Credit Karma says it disagrees with the FTC’s allegations but that it has reached an agreement.
ICYMI fintech funding round-up: R2, NowNow and Hive Wealth
Our weekly fintech round-up for you to get the latest funding news from around the world.
Japan’s SMBC Group to launch Jenius Bank in the US
Jenius Bank will initially offer personal loans before expanding with savings and checking products.
First Federal Bank of Kansas City debuts new digital banking platform
The new digital offering is powered by enterprise solutions provider Narmi.
New bank for the US military community to launch this winter – Moonbeam
Moonbeam says its digital banking products will aim to emphasise financial literacy and economic mobility.
eToro snaps up options trading start-up Gatsby
eToro says the acquisition is a “key step” as it looks to diversify its offering to US users.
Fintech start-up Pomelo raises $70m in seed financing
Pomelo’s investors include celebrities The Chainsmokers and The Weeknd.
New debit card fintech Seltz gears up for launch in the US
There are currently over 1,300 sign-ups for the debit card’s waitlist.
Q&A: How Linqto is helping democratise the private investment space
Linqto’s COO Joe Endoso chats with FinTech Futures about the platform’s goals and ambitions.
KeyBank taps BlueSnap to facilitate cross-border e-commerce payments
KeyBank says BlueSnap’s operating model will give clients the flexibility to process global payments.
TomoCredit bags $122m funding to expand product offerings
Investors include Morgan Stanley’s Next Level Fund and Mastercard.
Mojaloop: the open source software powering payments for the unbanked
FinTech Futures chats with Kim Walters, who led the building of Mojaloop’s software from the ground up.
US crypto firm Voyager Digital files for bankruptcy protection
The firm says it has “filed voluntary petitions for Chapter 11 protection to implement restructuring”.
Linkbancorp taps Jack Henry for digital banking and lending upgrade
Linkbancorp will look to utilise Jack Henry’s Banno Digital Platform and LoanVantage offerings.
London BNPL firm Zilch raises additional $50m in Series C extension
The extension follows an initial raise of $110m in November, which valued the company at more than $2bn.
Blockchain paytech Roxe to go public via SPAC merger in $3.6bn deal
Roxe will merge with Goldenstone Acquisition and become a publicly traded company on Nasdaq.
Digital banking tech vendor Narmi raises $35m Series B
The fresh capital will be used to develop and accelerate the overall digitisation of the US banking industry.
Fintech Zytara partners deadmau5 to create branded banking solution
deadmau5 will join Zytara’s advisory board “to help enhance the creative direction for Zytara moving forward”.
Money 20/20 Europe: A new era for a digital Sterling
Project New Era, set to launch in September, is a pilot evaluating the future digital currency ecosystem in the UK.
New financial planning start-up Fruitful raises $33m in funding
The rounds were led by Emigrant Bank and 8VC with participation from other investors.
Fleetcor to acquire cross-border paytech Global Reach
Fleetcor has signed a definitive agreement to acquire UK-based Global Reach Group.
How Stilt is helping immigrants build a financially stable life in the US
FinTech Futures chats with Stilt co-founder Rohit Mittal about the firm’s aims to help immigrants in the US.
Crypto exchange Coinbase extends hiring pause and rescinds some job offers
The firm cites “current market conditions” as a reason behind the move.
