Allianz considers selling N26 stake at steep discount
Terrific Thursday FinTech Fanatic,
Let’s start today's newsletter with the news of Allianz X, which considers selling its stake in German online bank N26 at a steep discount, valuing the lender at $3 billion.
According to sources familiar with the matter Allianz X, the venture capital arm of the Munich-based insurance group, has mandated an adviser to sell about 5% in N26 at a discount of around 68% compared to a 2021 valuation of $9 billion.
Allianz X is one of the largest external investors in N26, according to the Financial Times, who reported first on the story on Wednesday.
Meanwhile Goldman Sachs CEO David Solomon reacted to Apple’s launch of its new savings accounts, earlier this week. Although Apple is going to offer an Annual Percentage Yield of 4.15% Solomon said he isn't worried about Apple's proposition will overshadow his bank's own Marcus savings accounts.
But Solomon also said that he's watching closely for "cannibalization" from Apple new saving accounts.
Worthwhile following the developments, which I will;-)
Please find a selection of other FinTech news below??, and have a nice day!
INSIGHTS
A deep dive into the European 'buy now, pay later' (BNPL) market. After his longread on Europe's neobanks, fintech journalist John Reynolds is back with a comprehensive look at the European BNPL industry. Check out the full analysis here
#FINTECHREPORT
Check out "Global Payments Report" by FIS Global, which gives actionable insights and relevant facts across 40 markets to grow business. Download the full report here
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FINTECH NEWS
Square launches Tap to Pay on Android. The new technology enables sellers to accept contactless payments securely with a compatible Android device with no requirement for additional hardware and at no added cost.?
Securities commission Malaysia launches new E-payment platform ‘e-PATH’. to provide a more seamless and secure way for market participants and the public to make online payments to the SC.?
Deko upgrades BNPL platform. The new solution brings together the very best checkout finance design insights from Deko’s rich heritage in Point-of-Sale lending.?
Zurich-based fintech receives Finma licence. Everon, a Zurich-based fintech, has gained an asset management licence from the Swiss Financial Market Supervisory Authority (Finma).
Q2 Holdings unveils instant payments manager. The new payment solution will be among the first business-to-business (B2B) payment solutions available in the market to support the full instant payment message set. Read more
DIGITAL BANKING NEWS
Pix continues to break records in Brazil. 2023 started strong for Pix volumes and transactions yet below the levels seen during Dec/22, which is expected. But it only took three months to surpass the volume and complete the largest quarter ever for Pix.?
Monzo launches instant access savings pots for businesses. The Business Instant Access Savings Pot offers a 1.5% AER interest rate (variable) per year, paid monthly into the Pot with no minimum deposit required.
Bank of Israel outlines scenarios for issuing a digital shekel. The Bank of Israel is preparing an action plan for the potential issuance of a digital shekel (SHAKED), despite the fact that a decision has not yet been made as to whether the Bank intends on doing so.
Klar, a Mexican FinTech company, aims to reach three million users by the end of the year. Klar offers a digital banking platform that allows users to open accounts, receive loans, and make payments, among other services.
Goldman Sachs kicks off process to explore sale of fintech unit GreenSky. GreenSky's performance remains high, Solomon reportedly said, but added that Goldman does not see itself as best suited to lead the company in the long run.
Ripple-based P2P service MoneyTap adopted by three Japanese banks. Effective April 17, the RippleNet-based mobile MoneyTap application is now supported by three major banks belonging to Yamaguchi Financial Group – Yamaguchi Bank, Momiji Bank, and Kitakyushu Bank.
领英推荐
BLOCKCHAIN
Coinbase open to London move if regulatory confusion remains in the US. Brian Armstrong, Coinbase CEO, called for more comprehensive crypto regulation, noting a possible move from the US if it doesn’t come soon.?
PARTNERSHIPS?
Credit Agricole and Worldline plan French payments business. The companies have begun exclusive talks to set up a joint venture to provide payment services to businesses and their customers, they said.
Thought Machine integrates with MQube to streamline mortgage lending. The partnership will allow banks, building societies and non-bank lenders to make real-time decisions on mortgage loans, giving end customers more timely, accurate and straightforward loans and mortgages.
Mbank partners with Dgpays to launch a digital wallet. The partnership aims to offer facilitated financial solutions to business owners, entrepreneurs, and freelancers by allowing them to seamlessly integrate digital payments into their businesses.
#DONEDEAL
Financial automation platform Clerkie secures $33m Series A. Clerkie claims that its proprietary platform has become the go-to tool for creditors looking to manage their loan losses while simultaneously helping millions of borrowers get out of debt and improve their credit.
Hokodo tops up Series B funding with investment from Citi. The latest cash injection will support Hokodo’s ambition to grow and enter new geographic regions. Read more
Triver, a London-based fintech emerging from stealth, has raised $8 million in funding. The company wants to launch its platform within this quarter and said that it had a "line-of-sight" to a very profitable business by 2027.?
Razor Group, an e-commerce aggregator, closes Series C at $88M at $1.2B valuation, acquires Stryze to consolidate. Razor’s M&A, fundraise and valuation bump are coming at a time when many e-commerce startups, and specifically aggregators within it, have found themselves at a crossroads.
AI-powered SMB credit advisor Charm Solutions raises $3.5m. The platform is currently being used by lending institutions to make decisions for loans faster, reduce processing cycle time, and understand which loans in their portfolio need review during this period of ongoing economic volatility.?
Bitcoin firm Unchained raises $60m. The new funding will be used to acquire clients and improve upon its core suite of financial services, as well as expand its product offerings. Link here
MOVERS & SHAKERS
Adyen appoints Priyanka Gargav as Country Manager, Singapore. In her new role, Priyanka will oversee Adyen's operations in Singapore and be responsible for driving the company's growth locally. Read more
Belvo appoints Federica Gregorini as the new General Manager of Mexico. Federica will be responsible for driving growth in Mexico and expanding Belvo's presence in the country.
CleverCards announced the appointment of Gaurav Khurana as the company’s Senior Vice President of marketing. Khurana’s appointment will accelerate the launch of the business into new regions. Link here
Lindsay Hodges to guide BankiFi push in the US. In her new role, Lindsay will be responsible for guiding BankiFi’s clients, partners and product roadmap, while creating strategic plans that contribute to overall client success for the North American region.
N26 makes senior hires. N26 announced the appointment of three new senior executives, Carine van der Heijden as Vice President of Brand Marketing, Kertu-Liina Lehismae as Director of Digital Marketing and Global Media, and Nicole Heider as Director of Labor Relations and Employment Law. Read more
Viva Wallet announces the appointment of Samy Touboul, as its new Head of E-Commerce & Enterprise for the French market. Mr. Touboul aspires to take Viva Wallet’s e-commerce business in France to new heights, harnessing the possibilities of the tech powerhouse’ state-of-the-art, in-house payment technologies.
Looking to work with me in any of the following areas?
Cheers,
Marcel van Oost
Managing Partner at Garden District Ventures. Currently on medical leave.
1 年Dealing with N26 was one of the worst customer experiences I have ever had. When they ceased U.S. operations it took months to get my funds returned and no one there did anything to help until my attorney contacted the CFPB.