Affirm IPO sees shares surge 98%
Affirm managed to halve its losses by June 2020.
USA
Digital lender Blend raises $300m in Series G funding round
Lending firm plans to expand team and grow its products with the substantial raise.
DXC sells Fixnetix trading system to Options Technology
Options looks to expand its product suite.
Walmart prepares launch of its own fintech start-up
Retailer says customers want more of its financial products.
Visa and Plaid call off $5.3bn merger after US regulatory pressure
The two had initially intended to close the deal by June 2020.
FLEX moves 13 US credit unions to its core tech in 2020
Another 12 credit unions are scheduled to go live with FLEX’s core processing tech in 2021.
IHS Markit acquires compliance firm Cappitech after year-long partnership
Cappitech had provided its platform for Markit’s SFTR system.
Stripe cuts off Trump campaign for inciting violence
Payments processor strips Trump for encouraging violence.
Fintech funding deals globally 4-10 January 2021
Featuring Grab, Mynt, Divvy, Mambu, and SimpleNexus.
PAYMYNT Financial buys crypto e-wallet LettucePay
LettucePay operates on top of Stellar Network, an open source blockchain platform.
BBVA shutters Simple after paying $117m for it in 2014
The bank is cutting out standalone entities which no longer make sense to operate solo.
SoFi set to go public via merger with Palihapitiya’s fourth Spac
The IPO will value SoFi at $8.65 billion.
CODE Credit Union implements Symitar’s Episys with MDT
The conversion occurred entirely virtually.
Customer service start-up Glia lands $78m to help banks and credit unions
The round was led by Shopify and Checkout.com backer Insight Partners.
Trump bans transactions through Chinese apps including Alipay
The applications have 45 days to prepare for the ban.
African-American-owned Citizens Bank selects CSI for core banking
NuPoint is a fully integrated core banking solution.
PayPal investment lands SME fintech Divvy with unicorn status
The start-up announced a $165 million Series D funding round.
AvidXchange acquires TimberScan provider Core Associates
Firm now claims to be largest account payable firm in the construction sector.
San Francisco challenger Oxygen raises $17m in Series A
Runa Capital, S7V, EFG Hermes, and Rucker Park, took part in the investment.
eToro plans for a $5 billion US IPO
The broker is eyeing a listing in New York and is already in talks with Goldman Sachs.
Crypto platforms drop support for XRP amid SEC’s Ripple lawsuit
Some crypto exchanges have delisted it while others have halted, suspended, or disabled trading for XRP.
2020 review: 10 largest regulatory fines this year
The fines kept flowing even in a year as turbulent as 2020.
SoftBank aims to raise $525m with Spac IPO
Goldman Sachs Group and Citigroup are managing the deal.
Cyberpunk 2077 makers face potential securities class action lawsuit
Cyberpunk 2077 – from lawsuits and refunds to big wins from hedge funds.
Coinbase files for IPO listing amidst racism scandal
The start-up has long struggled with its management of Black employees.
Central State Bank goes live on Finastra’s Fusion Phoenix core
Fusion Phoenix is a modern core, built entirely on Microsoft technology.
EXCLUSIVE: Neobank First Boulevard launching next year to target Black America
CEO and founder, Donald Hawkins, tells FinTech Futures about the process of the name change.
Unit raises Series A funding to offer banking intergration
The start-up has raised a total of $18.6 million to-date.
Fintech projections for 2021
Top five fintech trends to watch in 2021.
US state regulator says Robinhood is “aggressively marketing” to novices
The regulator calls out Robinhood’s approach of “gamifying” trading.
Former JP Morgan execs launch wealthtech Vestrata with $4m
Vestrata has already signed up a number of investment managers and solution partners.
Fintech digital transformation challenges during COVID-19
How to get ahead in realising revenues and returning profits to shareholders.
New York-based Synechron buys Australian payments firm Attra
Attra and Synechron will have a combined workforce of 10,000 employees and annual revenue of $650m.
Wolters Kluwer snaps up cloud-based lender eOrignal for €231m
eOriginal claims “double-digit” revenue growth over the last three years.
Thoma Bravo investment takes identity start-up Venafi to unicorn status
Thoma Bravo are investing right at time, says Venafi CEO.
Financial assistant app Cleo raises $44 million
Cleo has four million Gen-Z and millennial users; and recorded a 400% revenue growth in the last year.
Don’t turn a blind eye to spreadsheet vulnerabilities
Introducing PrizmDoc Cells, a secure solution in an intuitive, Excel-like web interface.
Challenger for teens Step raises $50m in Series B
Among new investors are Charli D’Amelio, Justin Timberlake, Eli Manning, and Mantis VC.
Capital One takes swipe against “risky” BNPL firms
“These kinds of transactions can be risky for customers and the banks that serve them.”
Market infrastructure firm Pico raises $135m in Series C
Intel Capital leads the latest round for network company.
