Fathom4sight Newsletter: Weekly FinTech news curated by Fathom4sight!
Monday November 18, 2024
Top FinTech News Headlines this Week
???Neo Financial raised $360M in Series D funding
?? Toronto-based global payouts platform Trolley raised $23M in Series B funding
?? Montreal-based Nuvei posts revenue growth in final earnings as go-private deal gets green light
?? Retailers can now use Square Kiosk in Canada
???BNPL giant?Klarna files for US IPO for a valuation between US$15B and US$20B
???Mastercard launches Biz360 platform to help small businesses consolidate digital tools
???Visa redefines small business as millions of global creators gain access to capital and financial tools
???Bitcoin surges to $82K, crypto analysts now forecast $100K+ BTC price by year-end
?? Mastercard and VoPay help empower a cross-border economy
Payments
Trolley, a global payouts platform, raised $23M in Series B funding. The round led by Wavecrest Growth Partners, with participation from Pace Capital. |?FinSMEs
The collaboration will allow Anyday members to access KOHO’s advanced financial tools, marking a notable enhancement to XTM’s daily tip payout and Earned Wage Access (EWA) services. |?Fintech.ca
Square Kiosk is launched in Canada, an intuitive kiosk designed predominantly for restaurants, diners, and other similar establishments where one can order meals (or other items) to take on the go. |?Wifi Hifi
Shopify saw its market capitalization surpass $200 billion after a 20% spike in shares following a strong quarterly earnings report, securing its position as Canada's second-largest publicly traded company. |?Fintech.ca
Nuvei posted another quarter of growth in revenue and transaction volume, marking what could be its final earnings report as a publicly traded company before transitioning back to private ownership, just four years after its 2020 IPO.?|?BetaKit
Visa announced it will classify creators as small businesses within its network, enabling them to access financial tools, resources, and products to facilitate payments and working capital. |?PYMNTS
“Every type of company is dealing with some sort of technical debt,” said Darrell MacMullin, SVP of Commercial and New Payment Flows, Mastercard, Canada. “As businesses modernize and the demands for cross-border and real-time payments increase, our integrations with merchants, governments, and banks, can enable companies to transact in a more real-time fashion around the world.” |?BetaKit
The Biz360 platform, a one-stop shop that helps small business owners consolidate and integrate their existing digital tools while accessing new features to grow their businesses. |?PYMNTS
Insurance
Manulife Insurance, Canada’s largest insurance company, announced the launch of two innovative products aimed at addressing the diverse needs of Canadians and their families: the 75/100 Segregated Fund Series and Manulife Guaranteed Issue Life. |?Manulife
Securian Canada announced the launch of the Creditor Insurance Digital Discovery Tool, a digital resource that allows lenders to compile customer information such as income, expenses, and liabilities into one platform to help discover their true insurance needs. |?Coverager
SCM Insurance Services, Canada’s largest independent provider of claims management and risk mitigation, acquired the MBC Group, a specialty engineering firm offering solutions across Canada. |?Insurance-Canada.ca
Hub International Limited?(Hub), a leading global insurance brokerage and financial services firm, acquires Global Ag Risk Solutions Corp. and Global Ag Weather Solutions Corp. known as Parametric Ag (collectively, Global Ag Risk Solutions). Hub International expands agribusiness risk and insurance capabilities with this acquisition.?|?Insurance-Canada.ca
Lending
Equifax estimates over three million Canadians are "credit invisible," and Toronto-based Chexy is helping address this by transforming rent payments into credit-building opportunities and rewards. |?Fintech.ca
Coming after months of speculation, Klarna now declared that it submitted a draft registration statement to the US Securities and Exchange Commission (SEC) for its initial public offering in the US.?|?The Paypers
Crypto & DeFi
Bitcoin (BTC) reached a new all-time high of over $82,000, with futures premiums surging as investors anticipate further gains after the U.S. elections boosted pro-crypto candidates. |?Crowdfund Insider
MoonPay now brings fiat balances into the decentralized ecosystem, enabling users to top up their MoonPay Balance for fast and affordable transactions. Previously, this payment method was only available on centralized exchanges and traditional FinTech platforms such as Coinbase, Revolut, and Robinhood. |?Fintech Finance News
Challenger Banks
The financing, which closed last month, consists of $112 million CAD in equity and $250 million CAD in debt. Led by an undisclosed Chinese investor, the round featured a number of notable tech leaders, including Shopify co-founder and CEO Tobi Lütke, Slack co-founder Stewart Butterfield, PointClickCare co-founder and executive chair Mike Wessinger, and Roblox co-founder and CEO David Baszucki.?| Betakit
PFM
Safe, a new personal finance app, launches with features like a “Safe to Spend” balance and AI-powered financial guidance, offering a fresh way to manage money without budgets or tracking. |?LinkedIn