Financial technology startup Rapyd Ltd. announced today that it has acquired Korta ehf, an Iceland-based payment card service provider, for an undisclosed sum.
Stripe, a well-known payments unicorn, today announced that it had raised another $600 million in new capital, money that it plans to use to continue investing in product development, further global expansion and strategic initiatives.
Google is developing its own physical and virtual debit cards. The Google card and associated checking account will allow users to buy things with a card, mobile phone or online. It connects to a Google app with new features that let users easily monitor purchases, check their balance or lock their account. The card will be co-branded with different bank partners, including CITI and Stanford Federal Credit Union.
IDnow, a leading provider of Identity Verification-as-a-Service solutions with more than 250 customers, publishes statistics on the changed customer habits since Europe has experienced restrictions on everyday life due to the coronavirus (COVID-19).
Sopra Banking Software released on March 31 Cassiopae V4.7, a leasing and lending application, which is part of the company’s Sopra Financing Platform. The company met the ambitious release date announced ten months ago.
InstallAware, technology leader and premium software installation tool developer has partnered with PayPro Global, well-known full-service eCommerce solution provider, to streamline eCommerce operations and drive global revenue.
Airwallex, a fintech startup that reached unicorn status last year, announced that it has raised US$160 million in a series D funding round, bringing its total capital raised to US$360 million.
Contactless transactions have become a major priority at a time when people all around the world are minimising their contact with others outside their households to slow down the often-insidious spread of the novel coronavirus. But if a lot of the consumer focus lately has been on things like payments or deliveries, that’s overlooking the fact that the “contactless” paradigm has been a big trend for years already.
Paidy, a Japanese fintech startup that allows customers to make online purchases without credit cards, announced today that it has raised a $48 million Series C extension from ITOCHU.
A little over a week after stating that there was a difficulty in offering a solution to help all customers, Nubank changed its stance and announced an 80% reduction in the collection of interest on the invoice.
Railsbank, the open banking and compliance platform, has picked up further investment, following the company’s $10 million Series A in September 2019. This time backing comes from Visa — a strategic investment, if you will — along with Global Brain, a venture capital firm based in Tokyo, Japan. The exact amount isn’t being disclosed, though sources peg it as “several million” U.S. dollars.
Fintech is white hot these days, with major acquisitions and funding rounds galore. It’s also a relatively new space, with startups only really breaching the thicket of regulations that defines the modern banking and finance world in the past few years.
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.
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.