What to expect from the Wirecard trial this week
Hi FinTech Fanatics,
Starting on Thursday, December 8, two and half years after one of Europe’s most spectacular accounting scandals unraveled, a criminal court in Munich will start dissecting the collapse of Wirecard.
Wirecard, once worth €24bn and hailed as one of Europe’s most successful tech start-ups, collapsed in June 2020 after disclosing that half of its €2bn in annual revenue and €1.9bn in corporate cash were a sham.
I'm sure we'll see a lot of news on this subject in the upcoming weeks, but first, let's get into the other FinTech news of the day!
NEWS INSIGHT
Be Mobile Africa has introduced a crypto-currency payments gateway that allows businesses and merchants in South Africa and the rest of the continent to accept and make crypto payments. Link here
BREAKING NEWS
Hong Kong’s XanPool is accelerating expansion plans across Europe, Middle East, North Africa and Latin America, after raising $41 million this year. The funding will also bankroll plans to establish a research and development hub in Thailand. Link here
Weavr sets up in Singapore as it aims to simplify embedded finance. The move will also enable Weavr to contribute to meaningful advances in financial inclusion, green tech and more. Link here
#FINTECHREPORT
Fintech for Sustainable Finance is a study of the Luxembourg House of Financial Technology (LHoFT) and Deloitte Luxembourg that explores the role that FinTechs can play in supporting financial institutions (FIs) in their sustainable finance efforts. Link here
Check out The 2022 Benelux Unicorn Founder Roadmap: How to build unicorns in Benelux. An Antler report which is an in-depth look at the Benelux startup ecosystem and its brightest stars, as well as a must read for all startup founders in the region. Link here
INSIGHTS
German FinTech companies announced 43 deals in Q3 2022, projecting their total deals for 2022 to reach 249. German FinTech investment is expected to reach $3.7bn in 2022, based on investment during the first three quarters of the year. Link here
Nordic Fintech Snippets – November 2022, is the latest review of Helsinki Fintech Farm, featuring Fintech Industry news, insights, facts and activity from the Nordics. Check it out here.
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DIGITAL BANKING NEWS
Kroo Bank launches a 2% interest bearing current account aimed at Millennials and Gen Z. In addition, the bank says it will plant two trees for every new customer who opens a current account. Link here
PARTNERSHIPS
Finaro partners with Ginger Payments. The partnership offers a ready-made suite of PSP solutions for banks and fintechs that want to offer the full spectrum of payment services to their clients. Link here
M&As
Svea Bank acquires Arex fintech operations in Finland. The deal will allow Svea to further strengthen its position as a corporate financier, as AREX's c.1200 Finnish customers and partnerships will be transferred to the bank’s portfolio. Link here
BUX has acquired the retail arm of its Spanish rival Ninety Nine. The acquisition will boost BUX’s presence in Spain and will allow Ninety Nine users to have access to a wide range of services provided by BUX. Link here
#DONEDEAL
Teampay raises $47 million in Series B funding. The new funds will be used to expand its partnership with Mastercard to accelerate its go-to-market strategy, and work together to explore opportunities to enhance product capabilities at scale. Link here
Allica Bank raises ￡100m Series C. This new investment allows Allica to scale rapidly and accelerate its disruptive impact in the UK SME market, following the bank’s impressive growth, as well as its profitability milestone. 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
Connecting the dots in FinTech...
9 个月?? ????????????????: Wirecard fugitive Jan Marsalek was recruited by Russian intelligence at a meeting on a yacht in July 2014, sparking a decade-long association with the country’s security services. More info: https://www.dhirubhai.net/posts/marcelvanoost_wirecard-fintech-financialtechnology-activity-7169676147486613504-E8ZF?utm_source=share&utm_medium=member_desktop