FinTech Funding Special - Jupiter plans to sell its ￡100m Starling Bank stake; & more!

Happy Sunday!

Before we dive into the news, I like to shine a light on the FinTech startups that are raising funding. The first thing I like to mention is that I list all successful funding rounds in FinTech, together with more stats and figures, in a weekly #donedeal roundup.

So if you are a FinTech Fanatic like me, who loves to know where the funding is flowing, I recommend you to follow the hashtag #donedeal on Linkedin and sign up for this newsletter. I'll make sure you won't miss a round!

If you want to get into the action yourself, you can also sign up for my FinTech Focussed Angel Investors Syndicate, where you can co-invest alongside me in the most exciting early-stage FinTech startups. If you are not familiar with Angel Syndicates, this post can bring you more clarity:

And last but not least: if you are a startup that is looking for funding, you can always share your deck with me so I can have a look. And when you closed a round, please do share your press release with me so I can highlight the details with my network.

It's gonna be a busy week, and an even busier month, ahead for me with lots of events like Sibos in Amsterdam, TechCrunch Disrupt in San Francisco, and Money2020 in Las Vegas. I'm really looking forward to these events though, so please drop me a message if you are around at any of these events so we can meet for a coffee or a beer!

Enjoy your Sunday and below you can find today's most relevant news, or tune in to our?Daily Fintech Podcast?here.?

Cheers,

Marcel

NEWS HIGHLIGHT

Jupiter plans to sell its ￡100m Starling Bank stake to fellow investors, including Goldman Sachs, at a sharply reduced valuation of ￡1.5bn. Shares in Jupiter, one of Britain's best-known asset managers, have fallen in the past year. On Thursday, it told staff it was looking to cut its workforce by almost 15%, and Andrew Formica, its chief executive, is soon to be replaced by Matthew Beesley. Link here.

FINTECH?NEWS

Block brings BNPL to Square in Canada. Block Inc. is now offering buy now, pay later options for vendors and shoppers in Canada on Square. Inflation at levels not seen in decades has only propelled BNPL adoption. In July and August, growth in the consumer price index in Canada slowed to 7.6 and seven percent, respectively, but still well above the Bank of Canada’s target of two percent. Link here.

#LATAM

• Payretailers partnered with xbo.com. The partnership opens the door for LatAm users to trade and invest cryptocurrencies on the XBO platform and exchange fiat for crypto. Link here

#WomenInFinTech

• Belvo has 30% of women in leadership positions. Three women at Belvo share the stories of how they’ve grown in the company since they joined. Belvo is committed to building a culture of diversity, inclusion, and equity. Link here

#Payments

• Colombia to import the instant payments Pix. The Colombian Fintech Association has approached the monetary authorities in Colombia and Brazil to adopt Pix. Link here
• Mastercard & noqodi to expand digital payment acceptance across the UAE. Consumers and businesses in Dubai will soon be able to make seamless and safe contactless payments for select government and private sector services, due to a strategic partnership between Mastercard and noqodi. Link here

#Podcast

• Podcast with the CEO of Treinta. Treinta’s super-app helps use smartphones to take on tasks, receive digital payments, create online stores, and access a B2B. Link here

#Crypto

• Coinbase gains regulatory approval in the Netherlands, becoming the first major global crypto exchange to register with the Dutch Central Bank successfully. This registration will allow Coinbase to offer its entire suite of retail, institutional, and ecosystem products. Link here

#BNPL

• Playter to offer up to ￡1m per year?to UK SME's. Up until now, Playter could offer up to ￡400k, with bespoke subscriptions calculated per customer through a unique algorithm. Link here

#APAC

• Shenzhen aims to build a fintech hub by 2025 through an all-around digital upgrading of FI and propping up economies with fundraising. It plans to build 5 industrial parks and office clusters. Link here
• PPRO makes moves in Malaysia by integrating Grabpay and Touch 'N Go. Consumers can now use the GrabPay app for purchases both in-store and online. Everything from fund transfers to food delivery and ride-hailing services. Link here
• Indonesia is a magnet for fintech investment. In the first half of 2022, Indonesian fintechs managed to raise US$1.8 billion, exceeding the total of US$1.6 billion raised in 2021. Link here

#DoneDeal

• Scratch raised $35 M in a Series C round to accelerate the development of technology designed to connect medical providers with clients to provide an end-to-end patient experience. Link here
• Remofirst raised $14.1 million. The startup allows companies to hire people in more than 150 countries without setting up their own entities. Link here

DIGITAL BANKING?NEWS

#BankingInnovation

• Weavr updates its product suite with Apple Pay and Google Wallet, improving digital security, and in turn fuelling transaction growth for embedded finance innovators. Link here
• Spire Tech expands to Saudi Arabia. Spire provides services like Open Banking compliance, infrastructure, and strategic fin management solutions for banks and small businesses. Link here

#BankingReport

• Customers will dictate the future of banks. “Financial institutions need to keep up with innovation and changing operational models in technology-driven environments.” Read Fincog’s report: Banking for Tomorrow here

#Partnerships

• Treasury Prime partners with FirstBank. The partnership brings Treasury Prime’s bank network to well over a dozen, adding to their growing available deposit base within the bank network. Link here
• Delio partnered with Blockdaemon to launch retail-focused staking services, giving customers a more seamless way to earn rewards on their digital asset holdings. Link here
• Wipro partnered with Finastra. Wipro has been active in India for several decades, as the country represents one of the six focus regions that comprise Wipro’s APMEA. Link here

#FundingRound

• Noble emerges from stealth with $18 million. Founded in 2021 and based in Tel Aviv, Noble provides the infrastructure for companies to build, launch and scale credit products. 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

marcelvanoost.com

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