eToro secures $250M at a $3.5B valuation after scrapping SPAC, seeing slower growth
Welcome to your daily FinTech news!
NEWS HIGHLIGHT
Enfuce to issue Mastercard for social neobank Science Card. Enfuce has teamed up with Science Card to launch a ground-breaking payments card, which forms part of a new infrastructure for funding scientific research, designed to create the future earlier rather than later .
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#FINTECHREPORT
Check out the "Indian FinTech Funding & Acquisition Report 2022-23". A deep dive into the Indian FinTech & Acquisition landscape. Get the full The Digital Fifth report here
INSIGHTS
The financial shock caused by the failure of Silicon Valley Bank and then by the collapse of Credit Suisse takes a toll on Latin American banks (as their stocks show). Link here
Is Revolut really worth $33bn right now? Banking stocks are in freefall and Stripe’s valuation is down by half. So does Revolut’s $33bn price tag stack up anymore? Revolut isn’t an easy business to value. Read all about the Revolut story in this great article by Amy O'Brien from Sifted .
Ex-Virgin Money chief Gadhia eyes sale of finance app Snoop . Dame Jayne-Anne Gadhia ’s money-saving start-up is working with bankers at Rothschild on a fundraising or sale after receiving several takeover approaches.The latest process is not the first time she has received interest in acquiring the start-up.
FINTECH NEWS
Apple launches Apple Pay in S. Korea. South Korean users can use Apple Pay in convenience stores, supermarkets like Lotte Department Store and coffee shops like Paul Bassett. Moreover, they can use the service overseas.
Lebanese FinTech Purpl launches digital wallet on Mambu. Purpl’s new offering will provide Lebanese citizens at home and abroad with seamless ways of transacting enabling easy access to stored money to cash out in hard currency.
Mastercard to settle transactions for stablecoin wallet in APAC. Mastercard has entered a collaboration with Australian stablecoin platform Stables to allow retail customers in the APAC region to spend their stablecoins anywhere Mastercard is accepted.
BLOCKCHAIN
Centi issues Swiss franc stablecoin. Combining the efficiency of blockchain technology with the rigor of Swiss banking, Centi has developed a comprehensive payment processing engine that solely relies on a cutting edge web3 infrastructure, a technology first use-case of many to follow.
PARTNERSHIPS
Curve debuts wearable payments tech. Under a partnership with wearable payments outfit Digiseq , Curve will offer customers the opportunity to make contactless payments via a range of fashion items, including rings, bracelets and clothing.
领英推荐
Alloy partners with Kyckr to streamline KYB checks for global companies. The partnership will strengthen Alloy's ability to help financial institutions overcome the challenges of achieving seamless digital business onboarding on an international basis.
Qolo and PayQuicker team up. The partnership aims to meet the needs of corporate clients needing to pay gig economy workers, marketplace sellers, and small to medium-sized businesses across a diverse set of industries.
Finastra and Aspire Systems team to accelerate instant payments. With Finastra’s Payments To Go and Aspire Systems’ implementation, customers will benefit from end-to-end , multi-rail payments processing SaaS solutions, available on Microsoft Azure .?
Acquired.com selects MultiPay as hardware provider for payment terminals. Through this partnership , Acquired.com can now offer merchants a streamlined in-person payment option, with MultiPay’s hardware solutions integrating seamlessly into their existing solution.
#DONEDEAL
eToro secures $250M at a $3.5B valuation after scrapping SPAC, seeing slower growth. The money is not a typical equity round: It comes by way of an Advanced Investment Agreement (AIA), eToro founder and CEO Yoni Assia told TechCrunch. Learn more
FinTech startup Rain raises $116 million to speed up hourly workers’ pay cycles. The four-year-old company says it secured a $250 million valuation through this funding round, and aims to provide cash-strapped workers with immediate access to their pay to cover essential expenses.
Credable secures $2.5M seed to expand its digital banking offering into Africa. The investment will go towards building Credable's team and scaling its market presence across Africa and the MENASA region from its current presence in Kenya, Tanzania, Uganda and Pakistan.
Turan receives $1 million to digitally move money around the Turkic States. In 2023, Turan plans to implement the digital money transfer model in Uzbekistan . This aims to solve the problem of sending money home for Uzbekistan citizens residing in Türkiye.
Crypto trading firm Auros secures $17M investment as it recovers from FTX woes. The firm, which lost $20 million in FTX’s implosion, was released from provisional liquidation by a British Virgin Island court after major debt restructuring and the investment led by TradFi trading firm Vivienne Court and bitcoin miner Bit Digital.
Norwegian FinTech Two raises €18 million Series A. Two’s portal is making B2B transactions on e-commerce platforms ‘as frictionless as consumer payments’ on via its open API or plugins. Link here
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Cheers,
Marcel van Oost
Thank you for sharing the news about the revolutionary new card product, Marcel! ??