Welcome to?your?daily?FinTech?news!
- Brazilian Super App Inter sees a Nasdaq listing as a springboard to US consumers. The super app offers a digital front door for a range of activities — from banking and investing to insurance, peer-to-peer (P2P) and beyond. In an interview with PYMNTS’ Karen Webster, Jo?o Vitor Menin, CEO of Inter&Co., told Webster that bringing Brazil’s super app — in fact, in his telling, the West’s first super app — to the States has a multi-pronged strategy. Link here.
- Only 7% of founders at Europe’s future unicorns are women, according to the ranking of 100 VC-backed, B2B European future unicorns published by Sifted. Out of the 100 companies, only six have a female CEO (or co-CEO). Sixteen companies on the ranking were founded by mixed-gender teams, and in total 19 of the cofounders in the cohort are women — representing 7% of the total number of cofounders among the 100 companies. Link here.
- Last week, €530m was raised across 13 FinTech deals. Congratulations to the British unicorn SumUp which raised a €295m venture round, followed by Playter with a €52m Debt & Equity round. And finally, congratulations to INSTANDA on raising a €44m Series B. Link here.
- The PayPal Business Cashback Mastercard offers a simple way for businesses to pay for both everyday business expenses and those that may unexpectedly arise, while also earning cashback rewards on all purchases. Link here.
- Thepeer, an African tech infrastructure startup connecting businesses’ wallets, has raised a $2.1 million seed round led by the Raba Partnership. Link here.
- It’s finally happened: a gaggle of Europe’s most active angel investors (and successful former founders) — including Wise’s Taavet Hinrikus and Songkick’s Ian Hogarth — are getting into the VC game. Link here.
- Mercado Libre, the Argentina launched a life insurance offering through its Mercado Pago, fintech app, the second step by the company led by Marcos Galperin in the insurance market. Link here.
- CloudWalk, Inc., a Brazilian FinTech that manages payments for small- to medium-sized businesses (SMBs), announced Monday (June 27) that it is launching a blockchain of its own. Link here.
- Celsius Network on Monday denied reports of the CEO leaving the US, claiming that all related allegations are false. The crypto lender platform's CEO Alex Mashinsky was reportedly stopped by authorities from leaving the U.S., amid insolvency rumors about his company. Link here.
- Enterprise blockchain firm SETL has been acquired by Turkey-based fintech Colendi. The news was confirmed by SETL via Twitter. “Excited to announce that Financial Services platform Colendi is acquiring SETL,” stated the company. Link here.
- San Mateo, CA-based The Employee Stock Option Fund (ESO Fund) closed ESO Venture Fund V, LP, at $200m. ESO plans to use this new fund to continue investing in the next generation of innovative private companies by partnering with their employees to finance stock option exercises and provide liquidity for shares already purchased. Link here.?
- In May, S&P Global reports that since 2012, only 3 deals by Banks surpassed $1 billion in deal value, whereas in 2021 alone, a total of 16 FinTech deals worth over $1 billion were made by FinTech firms and private equity investors. In other words, Traditional Banks do not have a strong track record of targeting FinTechs. C-Innovation article by Isabel Richardson. Link here.
- SME Bank, the bank making life simpler for small- and medium-sized enterprises, has partnered with next-generation payment infrastructure provider kevin. to create an easy-access one-stop-shop for e-commerce business owners seeking a range of online payment capabilities for customers, with payments into a single business account, combined with collateral-free growth financing. Link here.
- Griffin, the UK-based Banking as a Service firm, announces the promotion of Maria Campbell to Chief Operating Officer. Campbell first joined Griffin in 2021 as Vice President of People. Link here.?
This ends?Your?Daily?Fintech?News. Let me know if there are any questions or comments. Until the next!
