Welcome to?your?daily?FinTech?news!
- Global cryptocurrency exchange?KuCoin Exchange?has raised $150 million in a pre-Series B funding round, taking its valuation up to $10 billion. Led by?Jump Crypto, the round saw participation from multiple investment funds including Circle Ventures,?IDG Capital,?and?Matrix Partners. Link here.
- PayPal?is seeing an expansion of people using its services as the world becomes more digitized, a company blog noted. In a press release, PayPal said that they know that an omnichannel payments strategy is important if businesses want to compete and keep up with the preferences of customers. Link here.?
- CoverGo | Insurtech, a global enterprise no-code SAAS insurance platform, secured $15 million in Series A funding. The round was led by?SemperVirens Venture Capital?with participation from?SixThirty,?Tribeca Early Stage Partners,?and?Fresco Capital, as well as strategic investors?Old Mutual Limited,?Asia Financial?Holdings,?XN Worldwide Insurance?(part of the Henner Group) and?Noria Capital LLP. Link here.?
- Ness, a New York-based fintech company building credit cards limiting the cost of wellcare, raised $15.5M in Seed funding. The round was led by?Will Ventures?with participation from?Core Innovation Capital,?Accomplice VC, Digitalis, GFC,?Portage Ventures,?Refactor Capital,?RiverPark Ventures, and Atypical. Link here.?
- Google?announced that its Chrome browser will now offer users the ability to use a virtual credit card number in online payment forms on the web. These virtual card numbers allow you to keep your “real” credit card number safe when you buy something online since they can be easily revoked if a merchant’s systems get hacked. Link here.?
- Bengaluru-based fintech startup?BharatX?has bagged $4.5 Mn in its seed round. The fresh investment round was led by?Y Combinator,?8i Ventures,?Multiply Ventures,?and?Soma Capital. Link here.
- SurePay, the leading Confirmation of Payee provider, announced that it has partnered with?Buckaroo, an established payment service provider for businesses, to offer its Confirmation of Payee solution to their customers in the Netherlands. Link here.?
- The use of cryptocurrency in sub-Saharan Africa, particularly among its young people, cannot be overstated. Data from blockchain intelligence firm?Chainalysis Inc.?says the region’s crypto usage grew 1,200% last year, making it the third-fastest growing cryptocurrency economy. Link here.?
- Magazine Luiza, the Brazilian retail behemoth, launched its own fintech, called?Fintech Magalu. The new business arm will integrate other financial products and services already offered by Magazine Luiza, and is a new step in the company’s strategy of diversifying its portfolio, aiming at user retention and recurrence. Link here.?
- Habi, a real-estate company that is trying to create a digital marketplace for home buyers and sellers in Latin America, has raised $200 million in a Series C funding round. Link here.?
- Skaleet (ex: TagPay), a French fintech providing a next-generation Core Banking Platform announced a new partnership with?Marqeta, the global modern card issuing platform, to enrich its existing ecosystem. According to the European Central Bank, the number of cards carried per inhabitant in EU member countries ranges from 0.8 to 3.91. And for many financial institutions, offering credit/debit cards is now a necessity. Link here.?
- Monoova, a leading B2B payments solutions provider, and?TrueLayer, a global leader in open banking, are partnering to harness financial and identity insights using Australia’s Consumer Data Right (CDR) for smarter, faster, data-enabled payments in the Australian market. Link here.?
- Spurring a growing trend of traditional banks making investments in fintech, Dubai-based?Mashreq Bank?announced a $10 million investment in?Cashew Payments, one of the leading “buy now, pay later” service providers to consumers in the UAE and Saudi Arabia. Link here.?
This ends?Your?Daily?Fintech?News. Let me know if there are any questions or comments. Until the next!
