Fintech funding round-up: 22 June 2017
It was only yesterday we did a fintech funding round-up. But as there’s a mad dash for cash, here’s another one. Features Digital Financial Services Lab, TrueLayer and Enterprise Ireland. Digital Financial Services Lab (DFS Lab) will invest $250,000 in four separate fintech start-ups that are building products to help low-income consumers in developing markets. […]
Mastercard launches competition for African financial inclusion
The Mastercard Foundation Fund for Rural Prosperity (FRP) has launched a new competition to find financial products and services that improve the lives of poor people in rural areas of Africa. The 2017 competition will follow a rolling format and will be open throughout the year with applications submitted and evaluated periodically. The first submission […]
Softbank ups investment in security AI firm Cybereason
Softbank has upped its investment in security firm Cybereason, as the focus on artificial intelligence (AI) continues.
Fintech funding round-up: 21 June 2017
Some people have got deep pockets, because the funding fun never ends. Our latest round-up features Soldo, Atom Bank, British Business Bank, BlackRock and Scalable Capital. Multi-user spending account, Soldo, has reported a Series A funding round of $11 million, led by Accel and includes participation from Connect Ventures, InReach Ventures, U-Start and R204 Partners. […]
Investors to the rescue for UK’s Co-op Bank?
The UK’s Co-operative Bank’s life may not be over just yet as it reveals it is in advanced discussions with existing investors over a rescue package. As reported in February, the bank was put up for sale – with the minority investor Co-op Group saying it is “supportive of the plan to find the bank […]
HSBC unveils £10bn fund for UK SMEs
HSBC has launched a £10 billion lending fund for SMEs in the UK as it looks to tap into this lively market. The bank says it continues to be open to lending, having approved 91% of small business lending applications in the last year. Ian Stuart, UK CEO, HSBC, says: “We want to put SMEs […]
Where top European banks are investing in fintech – CB Insights
European banks are placing strategic bets in areas ranging from wealth management, lending, payments, regulatory technology, software, and blockchain. Which banks were the most active and what did they invest in?
Fintech outside London – part 3
Our tour of the UK fintech scene concludes in this third instalment of the report. We started from the south of the country, then travelled west and are now travelling through the northern England and Scotland.
Avaloq Community Conference 2017: not trapped in a geography
Avaloq has hit back at Temenos’ claims that it is “trapped in a relatively small geography” by pointing to its revenue rise and innovation drive as reasons for something to be cheerful about.
Fintech funding round-up: 8 June 2017
It felt like only yesterday (7 June) that we published a fintech funding round-up. In fact, we did. But this latest version features Kasikornbank, Lmrkts, International Finance Corporation and Entersekt. Kasikornbank (Kbank), one of the largest banks in Thailand, has launched its “Beacon Venture Capital” investment unit with $30 million on hand to support start-ups […]
Fintech funding round-up: 7 June 2017
Fintech funding can be an intense blur of money, jargon and unerringly similar expansion plans. Here’s a round-up that gets to the heart of the matter. Features Plynk, IHS Markit, Barclays, Goldman Sachs, HSBC, Morgan Stanley and Wahed. Ireland’s Plynk, a money messaging app, has revealed a Series A raise of €25 million. Led by […]
Payments firm Tilt wilts
Following Airbnb’s acquisition of crowdfunding and social payments start-up Tilt in February, it is now being wound down. Tilt (formerly Crowdtilt) was built with the aim to allow groups and communities to collect, fundraise, or pool money online. It was founded five years ago with high hopes. Its co-founder and CEO James Beshara said at […]
Fintech funding round-up: 2 June 2017
The money’s rolling in for fintech – as this round-up follows hot on the heels from 30 May. This latest report features Zopa, RateSetter and Niyogin Fintech. The plans of peer-to-peer (P2P) lender Zopa to launch a new digital-only bank in the UK are going well as it has completed a £32 million funding round […]
Fintech funding round-up: 30 May 2017
It’s all go for money flow. Our latest fintech funding round-up, featuring NetGuardians, Banco BNI Europa, Raize and Wave. Swiss fraud prevention vendor NetGuardians has reported a Series C investment of CHF 8.5 million ($8.7 million). The investors in this round are Swisscom Ventures and Freemont Management. The financing will be used to fund NetGuardians’ […]
R3 hits jackpot with $107m investment for DLT
Blockchain consortium R3 has completed the first two of three tranches in its Series A fundraising round, securing $107 million in the “world’s largest distributed ledger technology (DLT) investment to date”. The consortia contest is heating up as this handy cash injection follows on from yesterday’s (22 May) announcement from the Enterprise Ethereum Alliance (EEA) […]
Fintech funding round-up: 17 May 2017
Quickly following on from the cash flow glow of 15 May, here’s another fintech funding round-up. Features Additiv, BZ Bank, Symphony, BNP Parabis and IOTA. Zurich-based digital finance provider Additiv knows how to stay healthy as it has secured its first capital investment funding round of CHF 21 million ($21.3 million). The round was headed […]
Fintech funding round-up: 15 May 2017
Brevity and celerity. It’s our latest fintech funding round-up for a quick fix – featuring Axoni, Citi, MarketInvoice, Banco BNI Europa, Alibaba and Qupital. Distributed ledger technology (DLT) provider Axoni has revealed that Citi has joined its Series A funding round, bringing the total amount raised to over $20 million. Citi joins a group of […]
Fintech funding round-up: 10 May 2017
Whether it’s blockchain, lending or core banking – everyone likes a bit of cash. Our latest funding round-up – featuring Coinsilium Group, Coindash, Kreditech, PayU and Finxact. Blockchain accelerator Coinsilium Group has completed its investment of $75,000 in Coindash, which is developing a social trading platform for cryptocurrency investors. Coinsilium will also receive an entitlement […]
Fintech funding round-up: 4 May 2017
Money talks, but it doesn’t sing and dance, and it doesn’t walk. And long as I can have you here with me, I’d much rather be, forever in fintech funding. Featuring FriendlyScore, Nav, Stockspot and InDebted. London-based FriendlyScore, a Software-as-a-Service (SaaS) B2B credit-scoring platform, will be opening its doors to new investors. The company is […]
Lessons learnt on a start-up journey
I grew up in Darwin, northern Australia and dreamt of playing hockey for my country. Today I live in Glasgow, thousands of miles away from the sunny climes of home and head up the UK operations and marketing for regtech firm Encompass.
Old Mutual Wealth drops IFDS from £450m tech revamp contract
UK investment service Old Mutual Wealth (OMW) has terminated its £450 million tech revamp contract with International Financial Data Services (IFDS) due to rising costs. OMW says the costs of implementation – which entails platform delivery and outsourcing services – would have been “materially greater than those advised to the market” in October 2016 (see […]
Innotribe unveils ten start-ups for Africa challenge
Innotribe, Swift’s innovation arm, has named the ten firms who will compete in its Start-up Challenge Africa. The start-ups will pitch their products in Abidjan, Ivory Coast, on 17 May 2017 during Swift’s African Regional Conference. Innotribe evaluated close to 100 applications received for the third edition of the Startup Challenge in Africa. The applications […]
Australia’s Mosaic to unveil “bank account on steroids”
An Australian start-up is set to launch a “bank account on steroids” by offering investment, transaction and savings accounts in one product. Called Mosaic, the bank will allow a user to invest in any asset class if they’re an active investor or be risk profiled to determine a passive fund “best suited to their situation”. […]
Fintech funding round-up: 26 April 2017
They said it. We read it. We edit. Hot on the heels of Monday’s (24 April) fintech funding round-up, we have more action. Featuring Quovo, Gnosis and Indian Angel Network. New York-based Quovo, a data platform providing insights and connectivity for financial accounts, has raised $10 million in Series B funding. F-Prime Capital and Napier […]
Put a SocGen in it for Euronext’s new fund investment model
Societe Generale Securities Services (SGSS) is contributing to a new model, Euronext Fund Service, to help investments in funds for domestic and international investors. Launched by Euronext and available from 15 May 2017, this new service will enable institutional and retail investors to place subscription/redemption orders, in a “simplified and automated manner”, through their brokers […]
Fintech funding round-up: 24 April 2017
The latest fintech funding round-up featuring Token, Ongo, National Bank of Canada (NBC) and a bunch of venture capitalist firms.
Nasdaq goes on attack with fintech investment programme
Nasdaq has unveiled its venture investment programme, Nasdaq Ventures, as it seeks out new fintech firms to work with in the global capital markets. Adena Friedman, president and CEO, Nasdaq, says it plans to “accelerate the pace of innovation”. The minority stake investments made by Nasdaq Ventures are expected to range from less than $1 […]
Unauthorised transactions vex US prepaid consumers – CFPB’s latest report
Prepaid complaints to the Consumer Financial Protection Bureau (CFPB) in the US hit 2,500 in 2016, accounting for about 0.9% of the 291,400 complaints in agency’s latest Consumer Response Annual Report.
Fund times with BNP Paribas blockchain-powered platform
BNP Paribas Securities Services is partnering with AXA Investment Managers for the creation of a new digital fund distribution platform. Called BNP Paribas Fund Link, it aims to make the fund distribution process better by improving the flow of information between fund buyers and sellers via blockchain and smart contract technology. Jean Devambez, head of […]
Chart: fintech investment in 2016
Fintech investment fell in 2016 for the first time. On the bright side? Banks are becoming much more active in the space, putting money in 61% more start-ups.
Fintech funding round-up: 4 April 2017
The world is not short of money… for some. Our latest fintech funding round-up features Aeries Financial Technologies, CASHe, Perfios and Ayopop. There’s never a shortage of fintech news in India. Aeries Financial Technologies, which owns the app-only lending platform CASHe, has raised $3.8 million in Series A funding from an investor group led by […]
Fintech funding round-up: 31 March 2017
Lighter and brighter – catch up with fintech funding news in our brief round-up. Features Monzo, Quint and Lidya. Mobile-only challenger bank Monzo has raised another £2.5 million from more than 6,000 investors – the highest-ever number of any Crowdcube campaign. This follows its crowdfunding record of £1 million round last year, which closed in […]
Fintech funding round-up: 28 March 2017
Enjoy a word-lite delight with our brief fintech funding round-up. Features Clarity Money, The Glue and OOjiBO. US-based Clarity Money, a personal finance app, has announced a $11 million Series B funding round led by RRE Ventures and Citi Ventures. This financing comes three months after Clarity Money launched its product and eight months after […]
Top fintech stories this week – 24 March 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Fintech funding round-up: 23 March 2017
Fintech funding news comes thick and fast, so here are four stories in one to save you time. Featuring Revolut, Jirnexu, Airpay and Quantexa. UK-based payments start-up Revolut has launched its 2017 funding round. The latest bout takes place almost a year after it raised £1 million with 10,000 investors registering, pledging in excess of […]
ZrCoin crowdfunds first ever commodities option on blockchain
A new initiative will hold an initial coin offering (ICO) for the production of an industrial material using green technologies – creating the “first” commodity-backed cryptographic token in the process. Called ZrCoin, this will be a derivative – and with the option to buy an equivalent amount of synthetic Zirconium Dioxide (ZrO2). The latter may […]
Tandem pauses savings products plans, House of Fraser not to invest further
UK challenger bank Tandem is not to receive any further investment from retail chain House of Fraser. House of Fraser invested £6 million in December, as part of a planned £35 million injection.
Investment Roundup: Fintech Financing Heats Up
With funds flowing from some of the biggest names in payments, including PayPal and Ant Financial, March got off to a hot start for worldwide e-commerce and fintech investment. Providers around the globe have landed hefty financing rounds from some venture capital, payments and financial services heavyweights during the first half of the month.
Fintech funding round-up: 14 March 2017
Life needs less noise. So here words are destroyed. A round-up of key events in fintech funding. Featuring Autobooks, University of British Columbia, Scotiabank and more. Michigan-based start-up Autobooks has raised $5.5 million in funding. This follows an earlier $2 million seed funding round. Draper Triangle Ventures led the latest round and was joined by […]
SBI Holdings, Unicredit and Bertelsmann invest in SolarisBank
Berlin-based fintech SolarisBank has raised €26.3 million from Japanese financial group SBI Holdings, German media company Bertelsmann, Italian banking group Unicredit, plus other investors.