Nuri terminates its business after failing to find an acquirer; & more!

Welcome to?your?daily?FinTech?news!

In case you missed it, please see below today's most relevant news, or tune in to our?Daily Fintech Podcast?here.?

NEWS HIGHLIGHT

Nuri terminates its business after failing to find an acquirer. They had not been able to find investors to continue their mission. Customers have been asked to withdraw their funds by December 18. Link here

BREAKING NEWS

bunq wins appeal case against DNB. Earlier this year, the neobank sued DNB over a disagreement over the use of technology to combat money laundering. Link here

INSIGHTS

€269m was raised across 9 European FinTech deals. Crypto custodian?Copper?raised €186m in a Series C, followed by?GoHenry?raised a €57m Growth round, and?Net Purpose raised €11m in Series A funding. Link here

FINTECH NEWS

Paycell begins its European journey. They are making significant international investments to achieve their goal of becoming an inclusive financial service provider. Link here

Creditclan rebrands as Clan. Also, they’ve introduced swap now pay later to accommodate the growing segment of item upgrade finance across Africa. Link here

DIGITAL BANKING NEWS

New PayPal rewards program. When checking out with PayPal, consumers in the US can now earn points towards cash back with the ability to redeem. Link here

PARTNERSHIPS

Crowdz picks GoCardless. They will incorporate three GoCardless payment features powered by open banking to improve their payment and risk modeling capabilities. Link here

Belize Bank extends its partnership with Finastra. Their transformation required a platform that would allow them to expand their presence locally in Belize and in the wider region. Link here

M&As

Westpac is in discussions to acquire 100% of Tyro. They see that the acquisition of Tyro would strengthen their small business proposition, enabling it to better support customers and more. Link here

#DONEDEAL

Capital on Tap secures ￡100m funding. The large cash injection comes from Atalaya Capital Management and will be used to build a central hub in both the UK and US. Link here

bolttech now valued at US$1.5 Billion. The insurtech firm announced that Japanese multinational insurance holding company Tokio Marine will lead its Series B funding round. Link here

Paytrix secures pre-seed investment. The embedded payments company for high-growth vertical software platforms announced that it has secured ￡5 million of new capital. Link here

MOVERS & SHAKERS

Flutterwave adds former JPMorgan Chase executive Marshall Lux as a senior advisor. He has extensive experience in model building, stress testing, portfolio management and optimization, line setting and increases, fraud, regulation, cyber, operations risk, and the like. 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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