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.
As banks close their branches to help stop the spread of the novel coronavirus, N26 GmbH sees an opportunity to convert new users. In its home market, Germany’s largest lender Deutsche Bank announced Monday it would temporarily close more than 200 branches in response to the pandemic, joining others lenders in reducing physical contact between employees and customers.
With immediate effect, Dutch banks are enabling customers to make more contactless payments in stores without having to enter their PIN, as part of the exceptional measures required to deter the spread of the Coronavirus.
International money transfer company WorldRemit has partnered with Paykii to launch na international bill payments service using WorldRemit’s app. Recently, WorldRemit has announced several material partnerships including with Varo Money in the US, a digital bank, and Alipay – part of Ant Financial in China.
Singapore financial-technology firm MatchMove has teamed up with homegrown finance company Singapura Finance Ltd. and two others to apply for a digital banking license in the city-state.
London-based FinTech unicorn TransferWise said on Tuesday (March 17) that it is partnering with Alibaba’s Alipay to power international money transfers in China. The partnership gives TransferWise’s estimated 7 million customers the ability to transfer Chinese yuan from 17 currencies to Alipay’s 1.2 billion users across the globe.
Penta, the Berlin-based business banking challenger that also now operates in Italy, has raised €18.5 million, described as the first closing of a new funding round. Leading the round is new investor RTP Global and existing investor HV Holtzbrinck Ventures. Also participating is ABN AMRO Ventures, and VR-Ventures, and Finleap (the fintech company builder that has a major stake in Penta).
Monzo, the U.K. challenger bank, is officially launching business bank accounts today, after an extensive trial period over the last 12 months that saw early access given to 2,500 business customers.
Arcus, a U.S.-based fintech platform, announced on Monday it has formed a partnership with global retail chain 7-Eleven to introduce a suite of payment solutions to its mobile app to focus on “cash-centric” consumers. Through the partnership, 7-Eleven is using Arcus’ technology to power an integrated payment experience for Latin American customers who are paying with cash.