Ethical challenger algbra banks on tech to define it in “fintech gold rush”
“We’re building a backend on a global level,” says co-founder.
Business-to-Consumer/B2C
Kalifa report says UK’s fintech crown at risk from waiting competitors
To mitigate the risks posed to UK fintechs, the report lists a number of recommendations.
Subway standardises its payments over all 42,500 restaurants globally
Subway claims it is one of the first in North America to standardise payments on this scale.
What did the GameStop saga expose about UK trading regulation?
FinTech Futures unpacks the FCA’s published response to trading restrictions on 29 January.
Aviva breaks into cash savings market with help of German fintech Raisin
Savings accounts via partner banks offer interest rates of up to 0.64% AER.
Oraan CEO: Women in finance weren’t welcomed in Pakistan
Oraan’s research found that savings – particularly for women – just wasn’t tapped into.
Netflix bags Uber’s product head Ebi Atawodi as payments director
Atawodi spent more than six years at Uber.
UK Black-owned challenger Atmen to launch in March
The start-up is now looking to raise £5 million from institutional investors.
Newly licensed UK bank Cashplus is raising £50m
It intends to raise the funds from growth investment firms.
Norwegian web browser Opera launches fintech “Dify” in beta
Opera made two fintech-focused acquisitions last year.
UK government unveils digital identity plans based on wallet tech
The government likens a digital identity wallet to a bank card authorising a payment.
HSBC France sale to land this month, AnaCap goes back up against Cerberus
The French unit moved to the shelf back in September 2019.
Neobank hopeful 11Onze to offer Catalans a non-Spanish alternative
The start-up intends to be a true representation of the country’s 7.6m population.
Robinhood backer Tiger Global leads $200m investment in rival Public.com
Public.com – as on 1 February – decided to stop making profits from payment for order flows.
MoneyLion set to go public via $2.9bn Spac deal
The fintech anticipates year-over-year growth of around 88%.
IKEA buys 49% stake in financial services partner Ikano Bank
Lending to IKEA shoppers accounted for about a quarter of the bank’s total business.
Fintech funding deals globally 8-14 February 2021
Featuring Fraction, BharatPe, Agibank, Monzo, and Coinsquare.
Monzo appoints Carol Kobuke Nelson as new US president and CEO
Nelson spent 23 years at Bank of America.
Danish edtech Female Invest targets UK expansion with $1.6m fresh capital
“It makes a big difference when you see someone like you on a platform.”
Italian neobank illimity turns €16m loss into €31m profit in a year
The neobank’s best-performing arm, by a long way, was its NPL unit.
Raiffeisen Bank to buy Czech Republic’s consumer lender Equa bank
In 2020, Equa bank’s consolidated net profit fell by 55% to $8.5 million.
Goldman Sachs re-opens Marcus in UK with 0.5% rate
0.5% is the highest paying easy-access rate in the UK.
Huawei to acquire Xunlian Zhipay for its payments licence
The deal is yet to be officially announced.
Klarna’s valuation set to triple to $30bln, says report
A report says Klarna is currently working on a half a billion new share issue.
San Fran fintech Zeta lands $1.5m for couples banking
Currently, the start-up makes money on partial interchange fees.
Singapore’s central bank reviews BNPL regulation over debt fears
The MAS wants to ensure regulations are “risk-proportionate”.
Challenger Climate First Bank to launch in Florida’s Tampa Bay Area in Spring
The start-up wants to become a full-service community bank.
Monzo confirms £50m raise with help of new US backer
Monzo is on the cusp of five million customers.
UK-Nigeria mobile wallet Sendit.Money goes crowdfunding
It has already exceeded its £100,000 target, having raised £146,006 at time of writing.
EXCLUSIVE: Wirex users hit by unexplained account restrictions and “disappearing” funds
A growing number of customers are fleeing Wirex.
Nigeria’s central bank issues crypto shutdown throwing fintechs into disarray
Nigeria is one of the world’s largest users of virtual currencies.
Ant plans for IPO as it reaches restructure deal with regulators
Ant has until November 2021 to register a new financial holding.
Hapi rolls out UK savings and investments app for parents
The start-up is backed by Entrepreneur First.
UK carbon impact challenger Creed set to launch this year
Former Bank of America, UBS and Barclays exec Roshan George heads up Creed.
US investor Stash lands $125m Series G ten months after last round
Stash’s last valuation sits at around $812 million.
Texan digital challenger Fair set to launch in Spring
This month, the start-up opened its waiting list.
Cashplus lands full banking licence after 15 years as an EMI
The ability to lend on its deposits pits Cashplus directly against Starling.
PayPal posts 22% revenue rise on back of e-commerce growth
2020 set unprecedented records for PayPal, but its 2021 outlook is more conservative.
A look inside MENA investor Global Ventures’ fintech portfolio
Global Ventures’ portfolio covers payment acceptance, digital wallets, credit and trading.
Crypto exchange Gemini furthers banking play with savings accounts
Rates of up to 7.4% annual percentage yield (APY) will apply.
