Amazon will now allow customers to make payments through Venmo on its platform; & more!
Welcome to?your?daily?FinTech?news!
In case you missed it, please see below today's most relevant news, or tune in to our?Daily Fintech Podcast?here .?
NEWS HIGHLIGHT
Amazon will now allow customers to make payments through?Venmo ?on its platform.?The company said this option will be available to select customers starting today and will roll out to all U.S.-based users on the Amazon site and mobile app by Black Friday next month. Link here
INSIGHTS
Rishi Sunak becoming PM is good for crypto & FinTech. During his time as finance minister under former Johnson, Sunak announced he wanted to turn the UK into a ‘global hub for crypto’. He helped usher in the Financial Services and Markets Bill, currently making its way through Parliament. Link here
Nearly 60% of digital consumers in Vietnam use fintech solutions. Vietnam is a top market in adopting new technologies, in which 58% of digital consumers have used online banking solutions, e-wallets, money transfer applications, and digital banking. Link here
Nigerians shun the eNaira. A year after?launching Africa’s first digital currency, Nigeria’s central bank is turning to the nation’s three-wheeler taxi operators to speed the adoption of the eNaira, as regulators across the world scrutinise its every move. Link here
BaaS grows as regulators play catch-up. The BaaS space is expected to reach $74.55 billion by 2030, and has emerged as an enticing revenue stream for community banks. Link here
PODCAST
Miguel Armaza, host of FinTech Leaders, sits down with Hristo Borisov, CEO and Co-Founder of Payhawk , the first ever Bulgarian unicorn! Founded just four years ago, Payhawk now enjoys unicorn status and has raised equity from Greenoaks, QED, Lightspeed, Endeavor, Hubstpot, and many more. Link here
FINTECH NEWS
PrimaryBid launches pan-European Connect platform. This open-access technology enables investment platforms, wealth managers, retail brokers, IFAs and fintechs across the UK and in the European Union to offer IPOs, placings and bonds directly to their retail investor customers. Link here
Veriff launches Social Security Number verification offering built to further streamline and secure the identity verification (IDV) processes of U.S. citizens. This product is available for U.S.-based companies, and organizations in other countries with customers in the U.S. Link here
DIGITAL BANKING NEWS
ABN Amro merges PFM app Grip into mobile banking app. The first feature ABN AMRO is moving from Grip to the ABN AMRO app is the ability to view upcoming expenses for the next few months. Link here
Synctera launches support for charge cards. Synctera’s new offerings cement the platform’s value as a one-stop shop to rapidly build, test, and launch FinTech apps and embedded banking. Link?here
Temenos launches carbon emissions calculator. Banks running on Temenos Banking Cloud benefit from more than 90% lower carbon emissions over traditional on premise infrastructures. Link here
BLOCKCHAIN
Cathie Wood doubles down on Coinbase via ARK Fintech Innovation ETF. ?The crypto investment firm?previously reducing its ?Coinbase shares and its revelation of?Bitcoin ?purchase has kept the platform relevant. In more recent news, it was brought to light that ARK’s Fintech Innovation Fund [ARKF] expanded its shares of prominent crypto exchange Coinbase. Link here
PARTNERSHIPS
Raiffeisen Centrobank turns to Marqeta to power a new digital bank offering. Marqeta’s global modern card issuing platform will enable Raiffeisen to deliver a flexible, fast, and comprehensive digital banking suite for customers across Europe. Link here
领英推荐
MoneyLion partners with NFL player to bring a compelling curriculum centered around real-world money education and skills to consumers nationwide. Link here
SPONSORED CONTENT
Mark your calendar on the 14th – 15th November at The Brewery, London for this 2-day, must-attend festival of visionary ideas, practical innovation and deep dives into solving industry problems from a wide spectrum of financial services.
M&As
Yaydoo just announced the acquisition of Oyster Financial , a financial services startup that helps freelancers and SMEs in Mexico. Yaydoo will now increase its presence as a leader in payments, collections, and B2B transactions, said the company.?Following the merge, users can make payments and collections through various payment programs. Link here
Bilt Rewards ’ valuation jumps to $1.5B following new $150M growth round led by Left Lane Capital. Joining Left Lane in the investment was Wells Fargo, Greystar, Invitation Homes, Camber Creek, Fifth Wall, Smash Capital, Prosus Ventures and Kairos. Link here
Floryn secures €65M from NatWest to make B2B lending fast and efficient. Floryn is an online lending market for small and medium-sized enterprises, announced that it has raised €65M from NatWest, a London-based retail banking company.?Link here
Finexio closes a $35 million Series B funding round at a $100 million pre-money valuation. Mendon Venture Partners and National Bank Holdings Corporation (NYSE: NBHC) co-led the financing. Link here
Vesttoo raises $80 million at a $1 billion valuation. The Series C financing round was co-led by Mouro Capital and a private equity fund. A U.S.-based bulge-bracket investment bank, Gramercy Ventures, Black River Ventures, and Hanaco Ventures also participated in the round. Link here
ConnexPay secures a $110 million growth investment led by FTV Capital, a sector-focused growth equity investor with more than two decades of experience in payments and financial services. Link here
Menta raises $6M to help B2B companies become fintechs. The round led by?Base10 Partners , with follow-on support from Pear VC, MatterScale Ventures, and Gilgamesh Ventures. Menta is a plug-and-play solution that provides financial services to B2B companies. Link here
REWORTH was selected by Barclays to participate in RISE and increased its seed capital to USD $6.6m. Strategic new investors join the round including Tinder founder, Justin Mateen, Sergio Furio from Creditas, Daniel Vogel from Bitso, Alfonso de los Rios from Nowports, Ricardo Weder from Justo and Magma Fund. Link here
BNPL Nelo scores $100M to fuel its ambitious growth plans. The fintech secured a $100 million credit facility from?Victory Park Capital , a leading global alternative investment firm specializing in private credit. Founded by former Uber international growth team leads in 2019, Nelo is a consumer payments product in Mexico. Link here
Covalto closing two credit lines for $200M. The neobank supports the financial needs of SMEs in Mexico. Covalto is the first Mexican fintech to acquire a regulated bank. Link here
This ends?Your?Daily?Fintech?News. Let me know if there are any questions or comments. Until the next!
Regards,
Marcel van Oost
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