Mitsubishi Acquires Half of Ayala's Stake in FinTech Unicorn Mynt
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?? NEWS HIGHLIGHT
Philippine conglomerate Ayala Corp, opens new tab is selling half of its stake in Mynt, the FinTech unicorn which operates e-wallet brand GCash, to Japan's Mitsubishi Corp , opens new tab for a minimum of 18.4 billion pesos ($318.89 million), it said on Friday.
The Japanese conglomerate will acquire the stake by buying 50% of Ayala-owned AC Ventures, the Philippine group said in a statement. Ayala owns a 13% stake in Mynt via AC Ventures.
NOW, ON TO THE SUMMARY OF LAST WEEK'S?NEWS
?? FINTECH HIGHLIGHTS
?? Ultimate Care Partners With DailyPay To Support Employee Financial Wellbeing.
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FINTECH
Sunshine+Kittens partners with Mastercard, The PayFirm and SaaScada to launch disruptive new kids money account. Sunshine+Kittens aims to disrupt the young person’s finance industry with cool designs and gamified experiences that make learning fun.
Liberis launches multi-product financial platform, boosting SME growth. The platform is designed to offer flexible funding solutions through its partners, and represents a significant step forward in addressing the financial needs of small businesses.
Klarna is offloading most of its UK “buy now, pay later” portfolio to US hedge fund Elliott for undisclosed terms, in a deal that will free up as much as ￡???????? for new loans, according to people familiar with the matter. Get the full story
Findity integrates with Mastercard, Visa to simplify business expenses. The firm has launched its innovative real-time Card Functionality which allows users to connect any Mastercard or Visa with their expense management platform to simplify the process of tracking and managing expenses in real-time.
Meet the most influential women in FinTech and crypto. Both sectors have recovered rapidly this year. Valuations have soared amid growing investor appetite. Some leading female executives in the space made the cut for Financial News’s 100 Most Influential in European Finance list this week. Find out more
FCA launches AI Lab to help firms with implementation. In a speech at an FCA Innovation 10th anniversary event, Jessica Rusu, Chief Data, Information and Intelligence Officer, announced the new initiative that will also align with the government’s efforts to promote safe and responsible AI development.?
PayPo has officially revealed plans to release virtual cards that allow purchases under the “buy now, pay later” model. Currently, the product is being tested by several thousand customers, and in November, it will be made available to all interested users.
FinTech start-up CapWay shuts down. The FinTech focused on financial inclusion has shut down, with founder Sheena Allen announcing on LinkedIn that the start-up is 'no longer an active business.' Link here
LoanPro launches Smart Verify tool for KYB/KYC and ongoing monitoring. This new suite of data solutions integrates third-party data sources into their platform for rapid identity verification and ongoing monitoring for business and consumer accounts.
领英推荐
FinTechs are literally passing the buck to private credit. Once-prominent companies like Klarna, SoFi, and Upstart have been selling loans worth billions of dollars. This latter group has been hammered by higher interest rates, heavy expenses and limited profits. Keep reading
PAYMENTS
Mollie, one of Europe’s fastest-growing financial service providers, announced its integration with HubSpot, the customer platform for scaling businesses. The new integration will enable businesses across The Netherlands, Belgium, Germany, France and the UK to initiate and track payments directly from HubSpot in seconds, making CRM payment processing faster and saving hours of work each month.?
RTGS.global launches unique solution for PSPs to drive ‘exponential growth’ with frictionless foreign exchange money transfers. This solution will enable them to offer cheaper and faster international payments to their retail and corporate customers.?
Tide and Adyen unite to enhance small businesses payments with Tap to Pay on iPhone. Merchants of all sizes can now accept all forms of contactless payments. This new ability will help new and existing Tide customers with a smoother checkout experience.
RoPay: Romania launches instant mobile payment system. TRANSFOND, the Romanian Banking Association, and the broader banking community in Romania announced the launch of the RoPay system, which allows users to conduct instant mobile payments in alignment with the national payment scheme.
Visa is transforming its B2B2X offering ???????? ????????????, bringing its full suite of Money Movement brands into a single portfolio for the first time. This updated Visa Direct will enable organisations including businesses, financial institutions, governments and FinTechs to access a broad range of capabilities.?
Worldline launches “Bank Transfer by Worldline”, a new account-to-account payment method in 14 European countries by the end of 2024. The solution enables retailers to accept payments, enhancing existing options and handling scenarios like invoices and high-value transactions that traditional methods often miss.
MuchBetter to offer free payment rings to UK consumers. The wearable payments company is offering free contactless ceramic payment rings to everyone in the UK. The ring requires no battery, bank affiliation, or phone to operate.?
OPEN BANKING
Neonomics introduces Nello, a Personal Finance Manager app. The app aims to elevate Open Banking through AI-driven solutions and simplified payment experiences. The firm is authorised by the Norwegian FSA and provides payment initiation and account information services to various businesses.
DIGITAL BANKING
Capital One has a new tool to help keep track of all your subscriptions. The bank launched a free subscription management tool, enabling customers to track, block, and cancel recurring payments from over 10,000 merchants through its mobile app.
CRYPTO
Crypto company Tether talking to commodity traders about lending them its billions. The crypto company has discussed US dollar lending opportunities with several firms across the credit-hungry sector, according to people familiar with the matter who asked not to be identified discussing private conversations.
PayPal's Venmo can now be used to buy Bitcoin and Ethereum via MoonPay. PayPal is diving deeper into the crypto world. In a recent announcement, the payments giant said that U.S. customers could now buy digital coins and tokens like Bitcoin and Ethereum on MoonPay using their Venmo accounts.
DONEDEAL
Ex-Adyen co-founder’s Amsterdam startup Tebi secures €20M to transform retail and hospitality operations. This marks Tebi’s first institutional investment since its founding three years ago. The firm aims to give independent businesses enterprise-level tools with the simplicity of a consumer app.
Acquired.com secures GBP 4 mln to boost digital payments growth. The new financing will allow the company to invest in its workforce and enhance its core payment offerings—card processing, direct debit, Pay by Bank, and real-time payments—driving growth and innovation in the payments sector.
London-based B2B SaaS Diesta secures $3.8M Seed. The insurtech plans to expand into new geographies and insurance classes, focusing on the UK, Europe, and the US, while investing in platform enhancements for insurance finance teams through AI-driven integrations and FinTech partnerships.
M&As
Invex Ventures acquires FinTech infrastructure platform Manigo. Adding to Invex’s portfolio of FinTech solutions, the acquisition will strengthen Manigo’s offering in the core banking and vendor orchestration space. Continue reading
MOVERS & SHAKERS
Backbase appoints Tim Rutten as Chief Marketing Officer. As CMO, Rutten will lead Backbase's global marketing strategy, focusing on brand positioning, demand generation, and strengthening the company's leadership in digital banking transformation during a key growth period.
Alexandra Chiaramonti appointed Managing Director, International at GoCardless. In her role, Chiaramonti is responsible for scaling the FinTech’s growth outside of the UK and Ireland, with a focus on Europe and Asia Pacific. Read on