Cuscal-backed challenger bank 86 400 has brought on its first outside investors, raising a total of $34 million in new capital. The series A capital raising led by Morgan Stanley brings its total capital to $90 million. The investors included fund managers, an Australian superannuation fund, high net worth individuals and family offices, the neobank said.
Singapore is setting aside SG$125 million ($70.89 million) to help its financial services industry (FSI) and fintech firms boost their digital capabilities and drive their deployment of digital tools. The funds also will offer financial support for workforce training and manpower costs.
The payment orchestration platform IXOPAY and NOTO, turn key solution for all financial crime threats, announce their partnership. From now on, worldwide e-merchants connected to the IXOPAY platform will have the opportunity to use NOTO, and benefit from their extensive industry experience.
The fintech wars continue to heat up with another major exit in the space. Consumer financial services platform SoFi announced today that it is acquiring payments and bank account infrastructure company Galileo for $1.2 billion in total cash and stock. The acquisition is dependent on customary closing conditions.
UK FinTech Curve has announced that its crowdfund investors will be among the first in Europe to benefit from a new credit card without numbers printed into its design. The banking platform, which consolidates multiple cards and accounts into one card and app, has become one of the first companies in Europe to provision numberless cards.
Yapily, one of a number of fintech startups that offer an opening banking API to let enterprises, such as financial service providers and merchants, connect to banks, has raised $13 million in Series A funding. Leading the round is Lakestar, which is also a backer of fintech unicorn Revolut.
Australian challenger bank Judo will now have an extra $500 million to distribute in loans to small businesses amid the coronavirus pandemic, coming directly from the government, The Sydney Morning Herald reported.
The Fintech Frank has now matched about $12 billion in funding for over 400,000 students seeking higher education including scholarships, loans, grants and more. That’s a big number. But according to Frank, about $40 billion is left on the table each year. Many students simply do not know how to access this money and that is where Frank steps in.
In a new report titled “FinTech: The Future Post CV-19”, Amsterdam-based Finch Capital predicts a rough road for newcomers, an age of opportunity for agents of digitalisation, and a slow recovery for late-stage funding. Defining “post-crisis” as the fourth quarter of 2020 and beyond, the VC firm forecasts a 12 to 18 month recovery that contains a few promising and perilous areas for fintech companies and investors.
London-based FinTech Mode Banking has announced the release of a new interest- generating product for Bitcoin along with a new app redesign for 2020. Bitcoin Jar, the new release, will enable Mode’s customers to utilize their Bitcoin and generate interest in Bitcoin. The new solution is expected to utilize the potential of the digital asset.
Tokyo, Japan’s digital banking startup Kyash has closed a $45 million Series C funding deal co-led by Greenspring Associates and Goodwater Capital, Kyash said in a statement on Sunday (March 30).
The use of financial apps and mobile banking services has increased by 72% in Europe as a result of coronavirus, according to research The research, published by independent financial advisory organisation deVere Group, found that the 72% increase had occurred over just one week.
Microsoft has teamed up with Plaid to let people automatically import their bank and credit card account data into a new personal finance tool called Money in Excel. Available to Microsoft 365 subscribers, initially in the US, the new offering promises to make it easy to manage, track, and analyse users' money and spending all in one place — the Excel spreadsheet software.
Several of Britain's digital banks are still waiting to hear if they can offer government-backed loans to struggling small businesses damaged by the coronavirus outbreak, days after a multi-billion pound rescue scheme was launched.
Fast, a startup building platform-agnostic login and checkout services, announced that Stripe has led a $20 million investment into its business. Prior investors Index Ventures and Susa Ventures took part in the round. Susa previously participated in the company’s late-2019 round that Index led.
Mexican fintech startup Credijusto has raised $100 million in debt from Credit Suisse Group, a move that will help it extend more loans to small and mid-sized businesses as banks gauge how to respond to the impact of coronavirus, its joint CEO said.
NortheOne – the leading American digital challenger bank for small businesses is waving all account fees for thousands of their customers that have been most impacted by the COVID-19 pandemic.
European fintech startup Revolut is launching its app and service in the U.S. Starting today, anybody can sign up and get a Revolut debit card. In the U.S., Revolut has partnered with Metropolitan Commercial Bank for the banking infrastructure — deposits are FDIC insured up to $250,000.
Temenos, a banking software company, announced its selection by Virgin Money Australia, a division of Bank of Queensland (BOQ), as its digital banking technology partner.
Climate change has become the biggest theme within ESG investing. With Europe leading the $31trn charge on sustainable investing, the investment community is fully aware of the serious returns at stake from the climate revolution.