TerraPay lands EMI licence in Italy as it plots European expansion
With the approval, TerraPay is now looking to expand within Italy and subsequently across the European Union.
Investment & Funding
Mastercard Strive India launches to help small businesses go digital
Strive India will focus on micro-enterprises, women-led businesses and agri-entrepreneurs in the country.
Mexican challenger Klar lands $100m debt facility to expand credit product offerings
The new facility has been provided by US investment firm Victory Park Capital.
The Savings Bank Group of Finland taps Tietoevry to replace lending platform
The Savings Bank Group says the new lending platform will enhance its digital offerings and operational efficiency.
US climate tech start-up Persefoni secures $50m in Series C-1 funding round
The company has now raised more than $150 million to date.
Better.com gears up to go public through SPAC merger
According to an SEC filing, the merger is set to close “on or about” 22 August 2023.
Mastercard signs MoU to buy minority stake in MTN’s $5.2bn fintech business
MTN says its partnership with Mastercard will enable its customers “to participate in the global economy”.
Cartoon: Betting on the swing
The crypto industry’s economics is currently dangerously dependent on the next market swing.
ICYMI fintech funding round-up: Chargeflow, Knot, Treasure Financial & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Indian fintech start-up Credgenics secures $50m Series B funding
The round was led by Westbridge Capital, Accel, Tanglin Ventures, Beams Fintech Fund and other strategic investors.
Mobility fintech Moove secures $76m funding to fuel global expansion
The latest investment brings Moove’s total funding to date to over $335 million across equity and debt.
SumUp secures $100m credit facility to expand merchant cash advance product
The facility is being provided by Chicago-based investment firm Victory Park Capital.
Singapore’s Endowus raises $35m as it eyes regional expansion
The round saw participation from existing investors including UBS Next, EDBI and Prosus Ventures.
Hong Kong fintech Micro Connect raises $458m Series C funding
According to Forbes Asia, the funding round values the start-up at $1.7 billion, making it Hong Kong’s latest unicorn.
MAS pledges up to $112m towards tech and innovation in financial sector
The funding comes as part of a renewal of the Financial Sector Technology and Innovation Scheme (FSTI 3.0).
US insurtech start-up Lula raises $35.5m Series B funding
The insurtech previously raised $18 million in its Series A funding round of July 2021.
Credit card fintech Petal secures $200m debt facility from Victory Park Capital
In addition, the company has also raised $20 million in new equity financing from its existing investors.
MSUFCU partners Nymbus for SMB “bank in a box” solution
MSUFCU previously participated in Nymbus’ $70 million Series D funding round in May.
FinTech Futures: Top five stories of the week – 4 August 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
ICYMI fintech funding round-up: Pockit, Orbital, Traction & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Novo secures $125m credit facility to provide working capital to small businesses through Novo Funding
Once approved, small businesses will have instant access to up to $75,000 of working capital.
Nexi buys 30% stake in German PSP Computop
Computop’s founders, Frank Arnoldt and Ralf Gladis, previously held 50% of the company’s shares each.
HSBC joins forces with Tradeshift to launch embedded finance business
The joint venture will focus on the development of embedded finance solutions and financial services apps.
Global fintech funding drops 17% to $52.4bn in first half of 2023
Fintech investment fell in EMEA and APAC, while the US took the lion’s share of global funding.
South Korea’s Finda bags $37m Series C funding
JB Financial Group took part in the round as a strategic investor, acquiring a 15% stake in the company.
US fintech start-up Croissant launches with $24m funding
Croissant integrates into merchants’ shopping experiences to offer customers guaranteed buyback value at checkout.
Mercury Financial secures $200m debt facility to expand credit card business
The facility has been provided by client funds managed by US investment banking company Neuberger Berman.
Trustmi aims to stamp out B2B payment fraud with global launch
The launch comes just days after the company secured $17 million in a Series A funding round.
ICYMI fintech funding round-up: Giraffe, eflow Global, Galaxy Ventures & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
BlackRock and Jio Financial Services to launch joint asset management venture in India
The announcement follows JFS’s recent demerger from Reliance Industries.
US earned wage access start-up Immediate bags fresh funding, expands credit facility
The Alabama-based firm aims to “improve financial wellness and eliminate cycles of debt for employees”.
Settle secures $145m credit facility from Silicon Valley Bank
Settle will use the expanded facility to boost its lending to e-commerce and consumer brands.
Italy’s Mediobanca partners Founders Factory for new UK fintech venture studio
The joint venture is central to the Italian bank’s strategic plan to strengthen its technology ecosystem.
Vietnamese fintech start-up Gimo secures $17m in Series A funding
Founded in 2019, Gimo provides flexible pay and financial wellbeing solutions for underbanked workers in Vietnam.
Dutch challenger Bunq lands additional €44.5m funding to fuel international expansion
The digital bank says it has now raised around €100m in funding over this year alone.
Bain Capital buys majority stake in India’s Adani Capital, invests $120m to boost growth
Bain Capital will pick up a 90% stake, with current CEO Gaurav Gupta retaining the other 10%.
US healthcare fintech Collectly lands $29m Series A funding
The company will put the funding towards enhancing its software and furthering its market expansion.
ICYMI fintech funding round-up: Anduin, Thunes, Portrait Analytics & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FinTech Futures: Top five stories of the week – 21 July 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Filipino fintech start-up Salmon lands $20m debt funding
Salmon says the investment marks the “largest ever” debt financing for a Series A tech company in the Philippines.
