Public.com is in talks to acquire Dutch trading startup Bux; & more!
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NEWS HIGHLIGHT
Public.com is in talks to acquire Dutch trading startup Bux. Bux has never stated its valuation but was valued between $320 million and $480 million at its 2021 funding round, according to Dealroom estimates. Should a sale go ahead, the price is expected to be substantially lower. A move for Bux by Public would continue a trend of US fintechs gobbling up their European peers. Link here
FINTECH?NEWS
Barclays is set to take over Tech Nation’s UK government grant. Investors say they’re concerned after reports emerged that the government had put a key contract with accelerator Tech Nation up for grabs. Barclays is set to take over the ￡12 million contract. Link here
The most valuable and impactful FinTechs. Heading this year’s IDC Fintech Top 100 rankings are three US financial services software companies: FIS, Fiserv, and SS&C Technologies. Link here
Revenues at Stripe's Dublin unit are rising. New accounts filed by Stripe show that the online payments biz enjoyed an $896.9m increase in revenues, rising from $1.358B to $2.255B. Link here
Top DeFi Investment rounds in LatAm – 2022. The trend in LatAm is not lost among venture capital firms. Investments in this sector jumped from $68M in 2020 to $658M in 2021. Link here
Aquila enters the LATAM fintech ecosystem through the platform acquisition of Neosoft. Neosoft will continue to support its customers and partners as an autonomous biz unit of Aquila. Link here
Gemini partnered with Betterment to begin offering cryptocurrency investment portfolios to customers across its retail and Betterment for Advisors offerings. Link here
Tabby partnered with Paymob. The partnership creates an innovative ecosystem that delivers value to merchants and exceptional customer experiences. Link here
Hello Clever partnered with Launtel. Launtel will use Hello Clever’s Pay ID for Business and the NPP to send and receive customer payments faster, more securely, and at a lower cost. Link here
DIGITAL BANKING?NEWS
Allica Bank reaches profitability. The SME fintech lender has been profitable on a monthly basis since June 2022, just over two years since opening its doors to lending in March 2020. Since its launch, the bank has lent over ￡1bn to SMEs, and is expecting to complete ￡3bn of lending in the next three years. Link here
Vivid expands its product offering to include business banking for freelancers and self-employed people. Vivid business customers have access to Business Pockets. Link here
领英推荐
sync. goes into administration. The open banking app’s features include a digital wallet, currency exchange, transfers, cards, budgeting, and “instant” payments. Link here
Chase reaches 1M UK customers. Chase now holds over ￡10B in customer deposits in the U.K., and has processed approximately 92M card and payment transactions since launch. Link here
Banking app Onuu goes live in the US. Through a subscription membership service, Onuu aims to provide financial tools such as checking and savings accounts. Link here
Families rely on cross-border payments to live. Mastercard shared data on its cross-border network, revealing that 40% of families receiving payments rely on the transaction system to survive. Link here
Crypto lender Nexo gets a US bank charter. Crypto lender Nexo said it has agreed to buy an undisclosed stake in Hulett Bancorp, which owns a little-known bank called Summit National Bank. Link here
DoorDash partnered with Mastercard. The DoorDash Rewards Mastercard will allow cardmembers to unlock benefits and earn rewards on purchases both on and off the DoorDash platform. Link here
Avenue Bank partnered with nCino. nCino’s platform supports financial institutions and the customer from the beginning to deliver an efficient, end-to-end banking relationship. Link here
Envestnet | Yodlee partnered with Lumiant. The partnership enables Lumiant to reap the benefits of open banking by accessing real-time data from financial institutions. Link here
ZEN.COM & Neosurf expand their cooperation. ZEN.COM customers will also be able to top up their accounts using a Neosurf voucher. This is another step in strengthening the cooperation. Link here
Mono’s new initiative fund, Mono VC. Mono VC is a new initiative to connect Colombian startups to investors. Some of the participant investors and funds are Magma Partners, QED, ALLVP, startup founders, Rappi investors, and other angel investors. Link here
Numida has raised $12.3 million. Numida believes there are 20 million small and micro businesses lacking working capital, an opportunity it values at around $5 billion. Link here
Satispay has raised €320 million in a Series D round from big-name investors. It brings the total amount raised by Satispay to date to €450m, and its valuation to over €1bn. Link here
Liberis secured an additional ￡140 million. The refinancing round was led by Barclays and follows on from the bank’s ￡34 million investment in Liberis in December last year. Link here
myTU closed a €5 million seed round. This allows myTU to accelerate product development by adding new features and product lines, including consumer lending, to its offering. 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
Thank you Marcel van Oost for the shout-out and the support.
Thank you Marcel van Oost for the mention - we’re excited to power real time payment for Australian leading telco businesses.