Welcome to?your?daily?FinTech?news!
- Nik Storonsky?plans to launch his own venture fund, powered by artificial intelligence, to compete with “legacy” venture capital investors. He will himself invest, with other investors, around $200 million into the?Quantum Light?Capital fund. “Based on my experience as an entrepreneur for the last eight years I found VCs’ product pretty frustrating,” says Storonsky, whose stake in Revolut is worth $7.1 billion.?“In the bad times no one wants to invest, in the good times they all want to invest — so the lessons were that VCs are pretty unstable and there is some element of crowd mentality.” Read the full?Forbes?article by?Iain Martin here.?
- The COVID-19 pandemic is considered to have had a significant impact on B2B payments, acting as a catalyst for further accelerating the digitalisation of both accounts receivable and payable.?In this article,?Gregoire Toussaint, Director at?Edgar, Dunn & Company?(EDC) is highlighting some of the key trends that are analysed in a white paper to be published next month on the increasing digitalisation of B2B payments. Link here.?
- Digital wealth manager?Moneybox?has raised ￡6.25m in a crowdfunding round. Coming at a time of turmoil in public stock markets, investors didn’t seem deterred by negative sentiment toward growth companies. Over 15,000 investors backed the round, which took place on Crowdcube and lasted just three days. Link here.?
- Amsterdam-based?Gain.pro, a platform that provides investment insights to private firms, announced on Thursday that it has raised $10M (approximately €9.61M) in a fresh round of funding. Link here.?
- Swedish FinTech startup?Juni?has chosen the UK payment solutions provider?B4B Payments ???to deliver their innovative financial services offering for eCommerce companies, this is delivered as part of a new service by B4B, designed to help FinTech startups scale their offerings more rapidly.?Link here.?
- Sudozi, a financial software innovator, announced new solutions to help finance teams automate workflows and improve spend decisions, as well as the close of a $4.3 million seed round led by?Pear VC?with participation from?S3 Ventures?and?Mischief. Link here.?
- Unit, a banking-as-a-service startup, has closed on a $100 million Series C round of funding led by Insight Partners. Existing backers?Accel,?Better Tomorrow Ventures?and?Flourish Ventures?also participated in the financing, which values the company at $1.2 billion. Link here.?
- Sam Bankman-Fried, the CEO of crypto exchange?FTX, has taken a 7.6% stake in?Robinhood, according to a Thursday filing with the Securities and Exchange Commission. Shares of the investing company jumped 36% at one point in extended trading before pulling back. They were last up about 25%. Link here.?
- Synctera, a leading FinTech banking provider helping innovators build their own FinTechs more efficiently, is expanding its partnership with?Mastercard?by integrating Mastercard’s open banking platform (provided by Mastercard’s wholly owned subsidiary,?Finicity, a Mastercard Company) to provide account verification solutions for Synctera-powered FinTechs. Link here.?
- A?Goldman Sachs?executive known for securing some of the industry’s biggest credit card deals in recent years has left to join early stage start-up?iCreditWorks,?CNBC?has learned. Link here.?
- Harlem Capital?asked six women founders in LATAM to share how they started their companies, experiences raising capital, and perspectives on the landscape for women entrepreneurs. Link here.?
- In the confusing muddle of hybrid and remote working,?Klarna?has become the latest fintech to put its flag down with an ambitious global flexible work policy. Klarna employees will be able to pick whether they work remotely, work from the office, or work internationally for up to 20 days per year at a Klarna office abroad. Link here.?
- Since launching in 2016,?Monzo Bank?has won the hearts of gen z and millennials across the UK as their bank of choice. Read the full article about Monzo's brand story here.?
- Revolut, the global financial super-app with more than 18 million customers worldwide and over 4 million in the UK, has seen an increase of over 215% in the number of UK users aged between 55-74 over the past two years. Link here.?
- Griffin?– a UK Banking-as-a-Service (BaaS) fintech – announces the completion of an important step in its application for a banking licence. Griffin has submitted its application to the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). Link here.?
- Mexico's lending, payments and entertainment platform?baz súperapp?has an expansion in the works. In the coming months, it plans to add new forms of credit acquiring and delivery services, with the aim of creating a superapp incorporating everything from financial products to streaming. Baz belongs to?Banco Azteca, the banking arm of Groupo Salinas, and several of the conglomerate's businesses coverage there, emulating Asian superapp models such as Tencent's?WeChat. Link here.?
- Japan’s?SoftBank Group Corp.?reported a record $26.2 billion loss at its Vision Fund investment arm on Thursday, as rising interest rates and political instability whiplashed high-growth tech stocks. Link here.?
- Nomad, a US banking account fintech focused on Brazilians, said Monday that it raised $32 million (R$160 million) in an extension of a round led by the US venture capital fund?Stripes?accompanied by?monashees,?Spark Capital, Propel,?Globo Ventures?and Abstract. With the round, the company is valued at $200 million. Link here.?
This ends?Your?Daily?Fintech?News. Let me know if there are any questions or comments. Until the next!
Software Development Engineer, Infrastructure, @Securiti.ai
2 年Great content as always. The efforts put into compiling the ever-growing Fintech market is always appreciated, Marcel van Oost! ??
thank you for sharing everyday
Product Lead driving business innovation with MBA expertise | Fintech | Payments | Innovation
2 年Marcel van Oost daily dose of #fintechnews ??