FinTech Futures: Top five stories of the week – 8 April 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Cards
Savings and retirement wealthtech Lilly set to launch in US
Billed as “the world’s first retirement debit and credit card”, the service will cost from $5 a month.
US start-up Ramp reaches $8.1bn valuation with fresh $750m funding
Ramp’s raise included $200 million in fresh equity funding and $550 million in debt financing.
Expense management platform Jeeves raises $180m Series C funding
The Series C comes just seven months after the company’s $57 million Series B funding round.
Zeta partners Mastercard to shake up credit card issuance
The payments giant has also invested $30 million, alongside other investors, into Zeta.
New SME banking player Pillar set to launch in Canada
Based in Montreal, Quebec, the fintech offers business accounts for SMEs.
Banking challenger and investing platform Finch set to launch in US
Finch boosts users’ credit score by reporting spending to US credit bureaus Equifax, Experian and TransUnion.
Amazon and Visa bury the hatchet over UK credit card fees
Visa says the agreement includes “a joint commitment to collaboration on new product and technology initiatives”.
US mobile banking app Spruce launches powered by SoFi Technologies’ Galileo
The mobile banking platform has been built by H&R Block and launched on 20 January 2022.
Brazil’s Banco Itaú partners US paytech Rêv to launch multi-currency digital wallet
The Itaú Global Wallet was developed by Rêv on its multi-currency payments processing platform.
GoCardless joins unicorn club with $312m Series G funding
The direct bank payment solution provider is now valued at $2.1 billion.
Fintech funding deals globally 31 January – 6 February 2022
Featuring FTX, Chargebee, Koho, Phantom and League.
Canadian fintech Koho lands $165m Series D funding
The firm says the investment is one of Canada’s largest fintech funding rounds.
New US debit card fintech Xrent aims to help renters get on the property ladder
The fintech’s ‘rent-to-mortgage’ programme is designed to direct rent payments toward homeownership.
Anti-fraud firm ClearSale acquires US tech start-up ChargebackOps for initial $3.6m
“Chargebacks are an enormous and growing problem for e-commerce merchants,” says ClearSale EVP.
Garden of Eden: how Africa’s digital transformation promises to boost the continent
Demographics, technology and opportunity have set the stage for Africa to become a global fintech powerhouse.
Fintech start-up destream to launch bank card aimed at internet content creators
Destream says banks often block large payments from donations and platform subscriptions.
Paystone snaps up merchant services provider Canadian Payment Services
Paystone CEO Tarique Al-Ansari says the deal will “provide additional value to CPS merchants”.
BNPL provider Splitit appoints new CEO, Nandan Sheth
Nandan Sheth moves from Fiserv, where he was head of global digital commerce and the firm’s Carat business.
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GPS adds $100m to its latest funding round, appoints new chair
Global Processing Services (GPS) closes its latest funding round at over $400 million.
Fintech funding deals globally 3 January – 9 January 2022
Featuring OpenSea, PayFit, Petal, Sygnum and Starling Bank.
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Credit building start-up Petal raises $140m in Series D, faces lawsuit
Petal CEO says firm is hiring across the board for more than 100 positions this year.
Paytech Rêv launches X World Wallet “super-app” in US
The X World Wallet is Apple Pay, Google Pay, and Samsung Pay compatible.
2021: Top five new fintechs and neobanks
FinTech Futures takes a look back at some of the year’s top new fintechs and neobanks.
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The outlook for payments in 2022 and beyond
In 2022 we can expect more industry consolidation and further demand for alternative digital payment methods.
Nuvei partners Visa to launch branded crypto debit cards across Europe
The programme plays “a vital role in expanding the crypto ecosystem”, Nuvei CEO says.
Mexican fintech Clara hits unicorn status with $70m Series B round
The new cash will fund the start-up’s expansion into Brazil.
Fintech funding deals globally 6 December – 12 December 2021
Featuring Monzo, Tipalti, Mambu, Tradeshift and Pleo.
Finance management platform Rho raises $75m in Series B round
Founded in 2018, the start-up has raised $205 million in equity and debt financing to date.
TripActions partners with Stripe for European launch
TripActions is an all-in-one travel, corporate card, and expense management solution.
Mexican spend management start-up Mendel lands $35m in new funding
Funds will be used for product development and to accelerate growth in Mexico and Latin America.
Tutuka and Paymentology merge to create new paytech “powerhouse”
The merger will “create the world’s first global issuer-processor spanning 49 countries”.
Fintech funding deals globally 29 November – 5 December 2021
Featuring Slice, 1inch, Prytek, Kueski and Fundbox.
Jeeves and Mastercard partner in Mexico for physical and virtual business cards
Tie-up follows $188m funding for Jeeves, which launched at the start of 2021.
New neobank Migom provides unbanked entrepreneurs essential banking services
The digital bank also provides crypto capabilities, including instant crypto transfers.
Unit adds cross-border payments capabilities with Currencycloud
Tie-up expands capabilities for the US customers of Unit’s Banking-as-a-Service (BaaS) platform.
