PFM app Bean shuts down 15 months after BGL Group acquisition
Bean no longer accepting new sign-ups and set to close later this month.
Investment & Funding
GFH buys 70% stake in MENA payments fintech Marshal
Marshal has a 85% market share across the United Arab Emirates (UAE).
Banking Technology March 2020 issue out now
Keep calm and carry on: Where does COVID-19 leave the Chinese fintech market?
Video: Top fintech stories this week – 06 March 2020
FinTech Futures’ weekly news round-up.
Money management app Emma bags $2.5m in seed funding
The fintech connects users’ bank accounts under a single dashboard.
Flywire’s CEO on unicorn status: “It means nothing until it is something”
“I’m the most anti-unicorn terminology person, so it’s quite ironic,” says Massaro.
Dutch fintech TerraPay gets acquired & raises $9.6m
“Fintechs like TerraPay play a vital role in increasing financial inclusion in emerging markets.”
CreditEnable announces $2m pre-Series A investment round
The investment will allow it to develop and launch a second-generation product.
Australian neobank Xinja launches $33m Series D with customer buy in opportunity
The challenger is offering a minimum investment of AUD 20,400 ($14,000).
China’s Ant Financial buys small stake in Swedish unicorn Klarna
Klarna is already embedded into Alibaba’s AliExpress.
India’s lending start-up SMEcorner bags $30m Series B
The round was led by a $10.5 million investment from Germany’s Paragon Partners.
Digital Risks raises $10.4m in Series A funding round
SME insurance firms plans to triple its headcount in 2020
Public.com raises $15m with help of Will Smith and JJ Watt
The trading app is focused around making investing ‘social’.
Thought Machine completes $83m Series B funding round
Core banking vendor plans to use the capital to expand into new markets.
Video: Top fintech stories this week – 28 February 2020
FinTech Futures’ weekly news round-up.
Monese set to make 30 employees into millionaires
This is expected after its next fundraise which will value the neobank at £1bn.
South African fintech Jumo raises $55m to fuel geographic expansion
Jumo plans to break into both Cote d’Ivoire and India in 2020.
Metro Bank cuts two thirds of new branches and returns £50m to BCR
The bank is paying back £50m of its fund from BCR.
Open Banking home finance start-up Youtility raises £4.5 million
Venture funding round to be used on new products and new hires.
UK fintech B-Social raises £7.8m ahead of ‘Kroo’ rebrand
The fintech has “significantly progressed” with its pre-application for a UK bank licence
Small business lender iwoca raises €100m for German loan growth
The company says it is the largest fintech small business lender in Germany.
ConsenSys-backed start-up Apex:E3 launches analytics platform
Initially focusing on digital assets, the fintech will branch out to more traditional asset classes in the future.
BBVA joins $1.3m round for UK gig economy start-up Wollit
It’s one of the first to evolve out of BBVA’s ‘Venture Creation Partnership’ with Anthemis.
TripActions lands $500m credit facility from SVB, Goldman and Comerica
TripActions Liquid will float an employees’ travel spend.
Revolut bags $500m from TCV to drive daily account usage
The challenger wants to “accelerate daily usage of accounts”.
UK fintech global investor figures for 2019 propped up by Worldpay deal
88% of the figure is made up of the Worldpay mega deal.
SoftBank to invest $100m in UK-based AI start-up Behavox
Behavox’s investment would be the fifth Vision Fund capital injection for a UK firm.
Credit card start-up Tribal Credit secures $5.5m in seed funding
New firm aims to help start-ups in emerging markets.
JP Morgan and Goldman Sachs back rival trading venue Members Exchange
MEMX is looking to rival the big three.
OTB Ventures raises $100m for Central and Eastern European tech start-ups
OTB aims to fill its portfolio with 16 CEE companies by 2022.
SoftBank to invest further $1bn in LatAm fintech, ecommerce and health care in 2020
LatAm has seen 17 companies and two VCs secure funding from the Japanese conglomerate.
Flywire secures unicorn status with $120 million Series E funding round
Goldman Sachs led the latest round.
Video: Top fintech stories this week – 14 February 2020
FinTech Future’s weekly news round-up.
Wells Fargo cuts 700 jobs, overhauls exec suite and invests $5m in crypto start-up
The bank is splitting its three-part structure into five.
Wealthtech FNZ secures investment from Temasek, acquires IPSI
FNZ hopes to benefit from Temasek’s “significant presence”.
Fenergo gains $80m investment from ABN Amro, DXC Technology
Fenergo aims to expand its product portfolio following new injection.
How far can venture capital take European challenger banks?
European challengers have been among the top recipients of regional venture capital.
Regtech firm SteelEye raises $10m growth capital
The Series A funding round was led by the Fidelity-backed Eight Roads.
Aspiring neobank EasyEuro raises $4m in pre-A round
The fintech is targeting cross-border trade between Europe and Asia.
Nigerian fintech start-up Aella raises $10m
This debt financing round is Aella’s second raise.
