Welcome to?your?daily?FinTech?news!
- Starting this month I’ll be launching a monthly re-cap in collaboration with BlackFin Capital Partners
. In May 2022 there was €1647m raised, over 45 FinTech deals, with an average deal of €37.4m. Link here
.
- New web3 fintech emerges from stealth with a $9.5m seed round. Merge
, founded by Kebbie Sebastian
wants to bring banking and payments infrastructure to the Web3 economy. Link here
.
- Trustly
has acquired UK open banking vendor Ecospend
. The acquisition gives Trustly a foothold in the UK market and a marquee client in Her Majesty's Revenue and Customs, for whom Ecospend has enabled open banking payments. Link here
.
- Raising a Series A or B round in the bear market? Here's what the VCs say: “Timing is everything". That's especially true with financial markets. And, unfortunately, we now find ourselves deep in bear country. Link here
.
- Indonesia-based investment app Bibit.id
has raised over US$80 million in a funding round led by GIC
, with participation from Prosus Ventures
and other existing investors. The stage of the fundraise was unspecified. Link here
.
- Technology-enabled innovation is reshaping financial products, market players, market structure, and even money itself, removing key frictions in the provision of financial services, enabling new business models, and allowing market participants to reach previously underserved segments at lower costs. Link here
.
- Mollie
is partnering with open banking and payments specialist Plaid
to improve customer experiences across their financial services, including onboarding and payments. Link here
.
- Captain?
, a fintech platform that helps homeowners rebuild after natural disasters by paying general contractors upfront, announced its ‘Build Now, Pay Later for Deductibles’ feature for homeowners’ insurance deductibles. Link here
.
- Banktivity by IGG Software
, a US-based PFM app, teamed up with Salt Edge
, a leader in offering open banking solutions, to enable its customers in the UK and EU to connect their bank accounts and have all their financial data pulled into the app instantly and fully digitally. Link here
.
- Affirm
is making its buy now, pay later technology available to businesses that use Stripe
’s payments tech. This means that a whole slew of companies that were not previously able to offer their customers the option to pay in installments, now can. Link here
.
- Gallup
finds 58% of Americans reporting that they own stock, based on its April Economy and Personal Finance survey. This is slightly higher than the 56% measured in 2021 and 55% measured in 2020 but is not a statistically meaningful increase. Link here
.
- Madrid-based PagoNxt (a Santander company)
, the payments fintech run by Banco Santander
, has appointed Kush Saxena as CEO of PagoNxt Merchant Solutions, a newly created role in the company. Link here
.
- Koen K?ppen
has joined Mollie
as their new chief technology officer (CTO) to support their expansion into world-class financial services. Koen joins after spending more than a decade at Klarna, where he held several leadership positions before being named the Swedish fintech’s CTO almost five years ago. Link here
.
- Global Processing Services
(GPS), a leading global payment technology platform, has announced the appointment of Jill Docherty
as Director, Global Partnerships. Link here
.
- In a pre-seed round, Bolivian startup Koban
raised $2.3 million from global funds such as Precursor Ventures
, Goldtruck Holdings
, and Class 5 Global
, as well as Latin America funds Newtopia VC
, BuenTrip Ventures
, ?Think VC. 99′s founder Ariel Lambrecht was an angel investor. Link here
.
- Last Thursday, May 26, a55
, a Brazilian fintech that offers revenue-based loans to startups and other companies in the so-called “new economy,” opened an office in Mexico, consolidating its presence in the country. Link here
.
- The number of transactions using Chivo Wallet, the digital Bitcoin wallet of the government of El Salvador, has fallen by 75% since its peak when authorities granted a $30 subsidy to users to incentivize the download of the technology. The wallet reached peaks of 20,000 transactions a day or more, but now users are making an average of 5,000, according to Leo Elduayen
, co-funder and CEO of Koibanx
. Link here
.?
- Children’s pocket money app Spriggy
has extended its latest funding round, raising an extra $10 million in capital to enable it to invest in more financial products for families, without having to focus on raising funds again for years. Spriggy co-founder Alex B.
said while the decision was driven more by investor demand than uncertainty about the tech downturn, he said having additional runway in this environment was a good thing. Link here
.
- Copper.co
, the award-winning provider of institutional digital asset custody and trading solutions, announced that it has been approved for membership of the Swiss Financial Services
Standard Association (‘VQF’) through Copper’s Swiss entity in Zug. Link here
.
- Tranch
, the B2B buy now, pay later provider that emerged from stealth just last week, has signed its first major technology partnership. The London-based fintech has chosen Yobota
to provide its core banking infrastructure as Tranch develops its flexible payments service. Link here
.
- Inter
(BIDI11) has just reached the 20 million client mark, a few weeks before migrating its shares to the US technology exchange Nasdaq
. The expectation is to maintain the pace of expansion recorded in 2021, opening another 4 million accounts by the end of the year. Link here
.
- According to LABS
,?after a record year in 2021, with $15.7 billion invested in Latin American startups, according to LAVCA
data (more than what was raised in the entire previous decade), the region shows no signs of cooling off. Link here
.?
This ends?Your?Daily?Fintech?News. Let me know if there are any questions or comments. Until the next!
