Cedar co-founder: Our biggest competition is status quo and inertia
Cedar acquired San Francisco-based OODA Health for $425 million last week.
Business-to-Consumer/B2C
Facebook shifts crypto project Diem from Switzerland to the US
Diem says the partnership “is an important step in preparation for a Diem USD pilot”.
US challenger for freelancers Lili lands $55m and passes 200,000 users
Lili wants to be a go-to app for freelancers in the US.
US start-up EarlyBird re-thinks gifts for kids with investment platform
EarlyBird launched four months ago.
Canadian fintech Wealthsimple raises record $610m at $4bn valuation
The fintech started off as a robo-advisor back in 2014.
Digital challenger Arrow pledges to save Americans $5,000 in five years
Digital challenger pledges to save Americans $5,000 in five years.
Fintech funding deals globally 26 April – 2 May 2021
Featuring Brex, Paxos, Vena, Greenlight, and Current.
Square goes on hiring spree ahead of new banking product launches
Square is “building a suite of new financial products”.
MVB Bank snaps up majority stake in Indianapolis fintech Trabian
The value of the stake remains undisclosed.
Hospitality payment app Sunday raises record €20m seed round for Europe
The start-up claims to cut the costs for operators to 0.5% per transaction.
UK challenger Starling lands £50m investment from Goldman Sachs
Starling now claiming to hold a 6% share of the UK SME banking market.
Robinhood calls Massachusetts regulator “elitist” for trying to revoke its licence
“The complaint reflects the old way of thinking,” says Robinhood.
Video: Top fintech stories this week – 16 April 2021
To stories from across the fintech world, featuring Coinbase, Pine Labs, Ozon and more.
Better.com’s CPO accused of bullying days after $500m SoftBank investment
The CPO joined Better in 2017 from Goldman Sachs.
Coinbase IPO values hits $99.6bn valuation with shares up 52% on debut
Shares closed below $330, up a lesser 32%.
LA fintech Ensemble is helping divorced parents navigate their kids’ finances
App features range from organising one-off expenses, to saving for college tuition.
Cuba’s only telco ETECSA granted payment provider licence
The firm can now convert customers’ balances into electronic money.
Fair CMO Toni Harrison: Oppressors can’t be the underbanked’s saviours
Instead of shrinking, the racial wealth gap has only continued to swell and expand.
Top five tips as your fintech company explores European expansion
US fintech companies recognise the potential buying power of the European Union’s 550 million people.
Acorns bags second acquisition of 2021 with AI start-up Pillar
Pillar helps students manage loan debt.
Plaid announces $425m Series D with three new investors
“Mobile banking is no longer the realm of start-ups”.
Clubhouse introduces tipping for content creators with Stripe
The one-year-old start-up has raised around $100 million to date.
FTC shutters San Fran fintech Beam for not delivering on 7% interest rate
“Don’t lie about your customers’ ability to get their money when they need it.”
ICYMI funding round-up: Butter, Spiral, SadaPay, OVEX, Ensemble & more
We’ve put together an “In Case You Missed It” (ICYMI) funding list.
Global fintech M&A round-up Q1 2021
Whilst some big deals never closed in Q1, plenty others took their place.
Box: Insurance isn’t just about premium rates, it’s about the entire user experience process
Vaneet Grewal, Box’s financial services managing director, talks to FinTech Futures.
Visa pilots US stablecoin with Crypto.com to settle transactions
Other incumbents have moved to support cryptocurrency too.
Major US banks invest $40m in Black-owned challenger Greenwood
Backers include JP Morgan Chase, Citi, and Bank of America.
Revolut applies for US banking licence days after Canada exit
Revolut’s US operations are led by banking veteran Ron Oliviera.
Indiana-based fintech Zoro Card builds credit through a debit card
The fintech focuses on those disproportionately affected by insufficient credit histories.
Dallas fintech Stretch to offer former prison inmates bank accounts
The start-up’s aim is to help America’s formerly incarcerated people transition back into the country’s economy.
US fintech Sincere to target “pet parents” with debit cards
In 2019, Americans spent $95.7 billion on their pets.
Revolut exits Canada after trialling beta for year and a half
Canada is a difficult market for challengers to crack.
State of play: account-to-account (A2A) payments
In-depth analysis and understanding of the market landscape by our resident fintech analyst.
Banking Technology March 2021 issue out now
Creating communities: celebrating women in fintech this Women’s History Month
London fintech WorldRemit mulls taking $1.5bn Spac listing to US
Refinitiv data shows Spac mergers have surged to a record $170 billion this year.
Square buys majority stake in Tidal for $297m as Jay Z joins board
Tidal is the latest in a few sales Jay Z has made in recent weeks.
Square finally launches bank after filing first application in 2017
Previously, Jack Dorsey’s fintech partnered with Celtic Bank for banking products.
Branch closures mount with latest Bank of Ireland and TD Bank cuts
Latest branches following the pandemic-induced shift to digital channels.
Goldman’s consumer head Omer Ismail leaves for Walmart’s fintech venture
Ismail architected the firm’s move into consumer digital banking.
