Fourthline raises €50m funding
Welcome to your daily FinTech news!
NEWS HIGHLIGHT
Fourthline raises €50m funding. The funding will be used to transform financial compliance for banks, financial institutions and FinTechs and will help the AI-powered company to become the undisputed tech platform of choice to alleviate the compliance burden for European regulated institutions.?
INSIGHTS?
Mexico now receives more remittances than China. The surge owes much to stimulus in the US , which put dollars back in pockets, as well as to the generosity of migrants, who have dug deep to help relatives in need .?
Check out “Greater Manchester FinTech Ecosystem Report 2023,” the Whitecap Consulting ’s latest FinTech Report/Map, and get an overview of more European FinTech Maps .?
Here is a list of last month's top 10 European FinTech funding deals. Number of deals for the period: 56. Total raised for the period: €431.1m, according to BlackFin Tech . Read more
ETF market to hit $30trn in a decade, Brown Brothers Harriman predicts. Assets housed in ETFs could more than triple over the next decade as the wrapper starts to steal assets from other fund structures in exposures outside of low-cost beta, according to the latest Brown Brothers Harriman (BBH) investor survey. Link here
#FINTECHREPORT
Check out the latest "Innovation in Retail Banking" report by Qorus and Infosys Finacle , which provides benchmarks on global banking innovation investments , competitive landscape, progress with digital transformation, and success with modern technologies.
FINTECH NEWS
Atome exits Hong Kong market after 3 years, refocuses in SEA business. The company said that it has made a conscious and planned decision to pause its business in Hong Kong at the start of the year due to the unpredictable and depressed macro environment for the foreseeable future.
Lightyear launches 100 UK stocks and ETFs. With its European customers at the centre , the investment platform is also rejigging its pricing in line with the launch of the new stocks in an effort to remain simple, fair and transparent.
Malaysia and Singapore’s QR code payments linkage has gone live. This will support in-person payments through the scanning of physical QR codes displayed by merchants, and online cross-border e-commerce transactions .
Tranglo launches instant SEPA payout to Europe. Tranglo expects cross-border transactions to SEPA countries to increase significantly in the coming months .
Douugh integrates with ChatGPT and becomes the first micro-investment platform to utilise cutting-edge AI capabilities as part of its service offering which to allow customers to benefit from AI-powered assistance for searches.
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DIGITAL BANKING NEWS
A month after payment app said banking licence was imminent... regulator cautioned over Revolut . Concerns have mounted over its long-delayed 2021 accounts while a crisis in the banking sector has raised wider industry problems. Read more
Last week ended with an explosive article published by NY Magazine ; “The Meltdown of a Gay Bank”. The article homed in on Daylight , an LGBQT+ focused neobank. This is truly an explosive article that you can’t miss. Read here ?
Kasikornbank goes digital. In the past year or so, KBank has accelerated its push into digital banking . The license will almost certainly be approved given KBank’s status.?
领英推荐
Liberty Bank launches on Alkami ’s digital banking platform. The move to Alkami will enable Liberty Bank to leverage data and provide enhanced personalised communication channels for both its retail and business banking customers.
BLOCKCHAIN
Is Base, Coinbase ’s L2 Network the platform for Web3 adoption? The goal with Base is "to bring in billions of users to the crypto economy, so decentralised applications need to be easier, cheaper, and safer to interact with. For this to happen, we need to make it even easier for developers to build these decentralised," said Coinbase. Read more
M&As
Acorns acquires UK’s GoHenry , a FinTech focused on 6- to 18-year-olds. The acquisition now puts Acorns directly in competition with other U.S.-based FinTechs already offering debit cards to children and/or teens, including Greenlight, Step and Current.?
PARTNERSHIPS
WorkWhile and Marqeta announce partnership on new card solution to offer accelerated wage access for WorkWhile workers. Alongside powering WorkWhile’s new debit card, Marqeta’s platform will allow WorkWhile workers to tokenize their card instantly into a mobile wallet, and the company will handle KYC onboarding of cardholders, as well as disputes.
#DONEDEAL
Crypto wallet maker Ledger locks in bulk of €100 million funding round. The company will use the cash to grow the business by expanding its network of distributors, boosting production and developing its products, CEO Pascal Gauthier said.
Acre secures ￡6.5m to simplify home-buying. Acre says it plans to continue this growth in 2023 by rolling out new partnerships with lenders and insurers to help its brokers recommend and apply for the correct financial products and services.
SwissBorg raises USD 23 million in community funding round. "Our mission has always been to democratize wealth management and offer our users the opportunity to become shareholders and replace the traditional VC model," CEO Cyruz Fazel wrote in a LinkedIn post . Read more
Alchemy Pay partners with DWF Labs and secures $10 million funding at $400 million valuation. The funds will be utilized to expand Alchemy Pay’s payment business in Korea, capitalize on the region’s high level of cryptocurrency acceptance, and assist Korean enterprises in achieving greater internationalization.
MOVERS & SHAKERS
Paysafe hires Nicole Carroll as chief strategy and innovation officer. Her primary responsibilities at Paysafe will be to further develop the company’s corporate vision and long-term growth strategy, and lead on its product innovation and capital expenditure programmes.
PPRO appoints Motie Bring as Chief Commercial Officer. Based in London, Motie will report to CEO Simon Black, and will be responsible for advancing the company's commercial strategy , guiding the global business development teams and overseeing PPRO's Sales and Marketing departments.
Looking to work with me in any of the following areas?
Cheers,
Marcel van Oost
PR & Communications Manager at Fourthline
1 年Thanks Marcel van Oost ??
Thanks you Marcel for including Fourthline's funding round!