Covalto to become Mexico’s first US-listed fintech following SPAC merger
The deal values Covalto at $547 million and will see the firm listed on the Nasdaq exchange.
Lending
Underwriting with alternative and cash flow data
Use of non-bureau, “alternative’’ credit data can help better understand the risk of a consumer.
FinTech Futures Jobs: Here’s how to position yourself as a leader at work
Explore thousands of open roles on the FinTech Futures Job Board today.
Fintech start-up Arc lands $20m in Series A funding
Arc will use the funding to accelerate its growth and expand the availability of its treasury and software products.
Lendflow partners Ocrolus to streamline credit decisioning
Ocrolus’ document automation technology will help Lendflow better analyse more data.
Founderpath bags $145m to fund bootstrapped SaaS ventures
Founder Nathan Latka says the firm has deployed over $50m in capital over the last 12 months.
State of play: BNPL
BNPL has become one of the most divisive credit products of the modern age.
BaaS start-up Unit partners Thread to offer embedded banking services
Unit says the collaboration with Thread will “empower more companies to offer unique banking solutions”.
Growth capital fund Upper90 raises $180m to fuel fintech start-ups
The firm’s investment model combines credit and equity for fintech businesses that have predictable revenue.
Income verification platform Truework lands $50m Series C funding
Truework says the funds will support its product development and hiring plans.
CFPB investigating Goldman Sachs over credit card practices
Goldman Sachs says it is cooperating with the regulatory body.
B2B paytech Plastiq to list publicly following SPAC merger
The new entity, set to be worth $480 million, will continue to be headed up by CEO Eliot Buchanan.
Growth capital firm Clearco cuts 125 jobs citing “significant” economic headwinds
Clearco founders cite rising interest rates, high inflation and e-commerce growth slowdown as factors.
ICYMI fintech funding round-up: Wombat, Atlantic Money, Fairbanc and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Don’t let the doom and gloom clip your fintech’s wings
The key to managing this downturn is to focus entirely on your own circumstances.
Banking Tech Awards USA 2022 Winner: Citizens Pay – Best Innovation
What retailers need to know about buy now, pay later (BNPL).
Cartoon: Rodeo
A new cartoon by Ian Foley illustrating why fintechs should view risk management as a core competency.
FinTech Futures: Top five stories of the week – 22 July 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
TomoCredit bags $122m funding to expand product offerings
Investors include Morgan Stanley’s Next Level Fund and Mastercard.
EXL, Corridor Platforms and Oliver Wyman partner up for new risk decisioning product
The solution leverages analytics, AI and cloud to deliver “instant” credit decisions to support digital lending.
BNPL firms Zip and Sezzle agree to call off proposed merger agreement
The merger was initially announced earlier this year.
Australia’s ANZ snaps up Suncorp Bank in $3.3bn deal
ANZ CEO Shayne Elliott says the acquisition is a “cornerstone investment” for the firm.
FinTech Futures: Top five stories of the week – 15 July 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
US fintech funding round-up: Finalis, Quiltt and Realfinity
A handy Friday funding round-up of US-based fintech start-ups: Finalis, Quiltt and Realfinity.
How Zolve is helping US immigrants land on their feet
Zolve helps immigrants accelerate their financial health through products that build wealth in the long run.
Recurring-revenue business lender Capchase secures $400m debt financing
The funds will be used to support SaaS start-ups across the US and Europe.
Klarna lands $800m funding as valuation cut to $6.7bn from $45.6bn last year
The firm says it “has not been immune to the significant downdrafts of fintech stock in public markets”.
Linkbancorp taps Jack Henry for digital banking and lending upgrade
Linkbancorp will look to utilise Jack Henry’s Banno Digital Platform and LoanVantage offerings.
New digital payment platform Kasheesh launches in US
Kasheesh reduces the cost burden on individual cards and helps users build their credit scores.
Banking Tech Awards USA 2022 Winner: Freddie Mac – Best UX/CX in Finance Initiative
Get Clarity into mortgage credit risk investing through Freddie Mac.
Aussie BNPL firm Openpay puts a pause on US operations
The company’s available capital and funding will be redirected to its Australian business.
FinTech Futures: Top five stories of the week – 1 July 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
London BNPL firm Zilch raises additional $50m in Series C extension
The extension follows an initial raise of $110m in November, which valued the company at more than $2bn.
Tenet launches financing platform to drive EV adoption
The firm has also raised $18 million in seed funding.
State of play: Money 20/20 Europe
Fintech analyst Philip Benton recaps key themes and trends at Money 20/20 Europe.
US proptech HomeLight acquires Accept, raises $115m at $1.7bn valuation
The acquisition of Accept will make HomeLight the largest agent-focused cash offer programme in the country.
Canadian wealthtech Wealthsimple sheds 12.6% of workforce due to market volatility
As well as the layoffs the wealthtech will be “laser-focused” on core businesses investing, banking and crypto.
Crypto firm Celsius halts withdrawals, cites “extreme market conditions”
Celsius says the pause is designed to put the firm in a “better position” to honour its withdrawal obligations in the future.
Nuula launches operations in Canada for small business owners
Nuula provides financial products and services to small business owners.
Money 20/20 Europe: A new era for a digital Sterling
Project New Era, set to launch in September, is a pilot evaluating the future digital currency ecosystem in the UK.
