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Financial Infrastructure Developer Banking Circle Receives Banking License from Luxembourg’s Financial Regulator

Banking Circle, a financial infrastructure developer, has been awarded a banking license from Luxembourg’s financial regulator. Established in 2013, Banking Circle serves as an alternative to the high-cost traditional banking network. The company’s services aim to provide greater financial utility, allowing Fintech firms to gain access to real-time payments without making large investments into upgrading their own internal systems.

Revolut-rival Monese set to make 30 employees into millionaires as it eyes unicorn status

Monese, a digital banking app for expats, is expecting to turn 30 employees into paper millionaires after its next fundraise, which will reportedly value the company at £1bn. In an interview with Sifted, chief executive Norris Koppel declined to comment on the alleged valuation but said that Monese’s staff equity scheme had already minted over 20 paper millionaires — with several more expected at the next round.

Target Global launches €120 million Early-Stage Fund II to back tech founders across Europe

International investment firm Target Global has launched its €120 million Early Stage Fund II, to continue its support of early stage tech companies across Europe and Israel. The focus of the new fund will be on leading and co-leading Seed and Series A rounds.

Digital City Festival - A Landmark Celebration of Northern Innovation & Creativity

From the 9th to the 13th March 2020, Manchester will be hosting Digital City Festival, a celebration of the booming digital economy in the North and beyond, and an opportunity for globally focused organisations to connect, innovate and collaborate.

Klarna’s US and UK expansion take their toll, as fintech posts first annual loss

larna’s push for hyper-growth landed it in the red for the first time in its history according to the company’s 2019 annual report, published on Wednesday

Revolut's rocky road to a record raise

It’s been a tough 24 months for Revolut since its last funding round in 2018, here’s what happened. News that Revolut has landed a whopping $500m in additional funding will hardly surprise those who’ve followed the twists and turns of the digital banking group’s latest raise.

Unleashing the power of collaboration at Efma’s annual Bank + Fintech conference in Berlin

Senior level bankers and Fintechs from all over the world will come together from 21 – 23 April in Berlin for Efma’s Bank + Fintech conference. Successful partnerships between financial institutions and Fintechs will be on full display. Banks such as BNP Paribas, ING, Danske Bank, Société Générale, and BBVA will showcase how they have collaborated with Fintechs in order to meet the challenges of the new world of banking. Among the many Fintechs present will be Endor, Max, Mitto, Offr, and Personetics.

Venmo prototypes a debit card for youngsters

Allowance goes digital. Venmo has been noticed prototyping a brand new function that will enable grownup customers to create a debit card related to their account for his or her teenage youngsters.

Monzo launches new in-app credit checker

Monzo continues to disrupt the banking industry as it takes on credit giants with its new in-app credit checks for customers.

Spain’s Cobee raises €2.1M for its employee benefits app and payment card

Cobee, a Spanish fintech startup that has developed an employee benefit management app and accompanying card, has closed €2.1 million in “pre-Series A” funding.

Investors splash the cash on British fintech startups

Global investors poured money into the UK’s fintech sector last year, almost doubling the amount invested here between 2018 and 2019 — despite the rest of the world suffering a slight downturn in funding.

Intuit near deal to buy Credit Karma for $7B

Intuit Inc. is nearing a deal to buy personal-finance portal Credit Karma Inc. for about $7 billion in cash and stock, in a move that would push the bookkeeping-software giant further into consumer finance, according to people familiar with the matter.

Cashplus upgrades mobile app with Google maps spend tracking feature

Cashplus, the leading UK challenger to banks, has launched a UK-first payment tracking for its SME credit card products.

Reuters Events announces Executives from Goldman Sachs, Blackrock and UBS to join ESG Investment Summit in London

Reuters Events today announced the globally recognised funds that will share how they factoring ESG into their investment strategies at this year’s ESG Investments Europe Summit.

WorldRemit Becomes Preferred Remittance Provider for Challenger Bank Leader Varo Money

Leading digital international money transfer company WorldRemit announces today a partnership with Varo Money, the leading fintech in digital banking in the U.S. The partnership will enable Varo customers direct access in the Varo app to the WorldRemit service, making it easy for Varo customers to send money abroad directly from their mobile phones.

SentinelOne raises $200M at a $1.1B valuation to expand its AI-based endpoint security platform

As cybercrime continues to evolve and expand, a startup that is building a business focused on endpoint security has raised a big round of funding. SentinelOne has picked up $200 million, a Series E round of funding that it says catapults its valuation to $1.1 billion.

Weavr.io closes £500,000 seed round

Weavr.io, the open collaboration platform that makes designing, building and taking a brand new payment service live in weeks, today announced that it has closed its seed funding round totalling £500,000.

Klarna and Stripe investor Atomico launches fifth tech fund at $820m

London venture capital giant Atomico has today revealed the close of its fifth fund, aimed at young European tech startups, at $820m (£630.2m).

23 million Brits will have a digital-only bank account by 2025

Just over two in five (44%) UK adults will have a digital-only bank account in five years, equivalent to 23.2 million Brits, according to a study. Currently, almost a quarter (23%), about 12 million, Brits have a digital-only bank account, a survey of 2,000 Brits by finance comparison website finder found. A further fifth (21%) of Brits plan to get one in the next five years, with two-thirds (65%) of those planning to do so over the next year.

Face Payment in China

According to recent report by Forward, China is currently the largest consumer in the global face recognition device market, thanks to its booming facial payment sector