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Digital payments alone could become a $100 trillion industry, according to PwC. And that’s just one component of the global Fintech industry. This channel tackles the lenders and buyers, the obstacles and achievements, and the trends and trend makers leading the ongoing technological evolution in global finance.

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FinTech: AeroPay And Jane Tie-Up To Offer Online Payments For Cannabis

October 15, 2021

AeroPay and Jane Technologies announced Thursday a partnership to enable online payments via AeroPay across 36 U.S. state markets where cannabis is legal. More than 2,100 dispensaries and 300 companies sell through Jane’s online platform.

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More Stories on FinTech

FinTech: Freshly Listed Zomato Floats Subsidiary For Payments Business

August 6, 2021

Zomato (NSE: ZOMATO), the Indian online food delivery service that was recently listed with a blockbuster IPO on Indian bourses, and is backed by the likes of the Ant Group, Fidelity, and Tiger Global, is getting into payments processing.

FinTech: Indian Payments Startup BharatPe Earns Horn, Values At $2.85B

August 5, 2021

Bharatpe, the Indian payments startup, enables shop owners to accept payments from any payment app for free. It makes payment acceptance simple by offering merchants a single QR to accept all payment apps such as PayTm, PhonePe, Google Pay, BHIM and 150+ other UPI apps. It announced a raise of $370 million in a Series E round led by Tiger Global Management and including participation by Dragoneer Investment Group and Steadfast Capital.

FinTech: Blockchain-Based Fintech Figure Technologies To Merge With Homebridge

August 4, 2021

Mike Cagney-led Figure Technologies announced Tuesday (3 August 2021), its merger deal with Homebridge Financial Services, a mortgage lender which funded more than $25 billion in home loans at the close of 2020. Figure Technologies is on a mission to transform financial services using blockchain technology, particularly the origination, finance, servicing and trade of loans. you know

FinTech: Rapyd, A Fintech-As-A-Service Startup, Lands $300M Series E

August 3, 2021

Fintech-as-a-Service provider Rapyd, which enables ecommerce companies, technology firms, marketplaces, and financial institutions to quickly integrate fintech and payment capabilities into their applications, has raised $300 million.

FinTech: Square Plonks Down $29B For Aussie BNPL Giant Afterpay

August 2, 2021

Jack Dorsey-led Square (NYSE: SQ) announced today (August 2, 2021) its acquisition of Australian fintech and buy-now-pay-later (BNPL) leader Afterpay (ASX: APT) for $29 billion in an all-stock deal. Square will acquire all the outstanding shares of Afterpay at this valuation based on the closing price of Square common stock on July 30, 2021.

FinTech: Bankers Fight For Wealth Management Turf; Lloyds Acquires Embark For $500M

July 30, 2021

Lloyds Banking Group (LON: LLOY) announced Thursday (July 29, 2021) the acquisition of Embark Group, an investment and retirement platform business, for £390 million (US$500 million). Embark will become a wholly subsidiary of Lloyds’ Scottish Widows Group, bringing with it about £35 billion of assets under administration on behalf of 410,000 consumer clients. Jackie Leiper, Managing Director Pensions, Stockbroking & Distribution at Scottish Widows, will become CEO of Embark.

FinTech: Google Pay Users Get Virtual Card Powered By Marqeta

July 29, 2021

Global card issuer Marqeta (NASDAQ: MQ) has tied up with Google Pay to offer a new virtual payment card that expands its users’ ability to use their mobile wallet for purchases at more merchants, both online and in-store.

Digital Assets: Mike Cagney’s Figure Tech Closes Oversubscribed Series D At $200M

July 29, 2021

New investors joined Figure Technologies’ Series D, taking the round to $200 million. The Series D, originally announced in May, saw new investors joining up, including entities and funds managed and/or advised by affiliates of Apollo Global Management, Inc., Blockchain.com, Rockaway Blockchain, HOF Capital, Endeavour Capital, National Bank Holdings, Goldentree Asset Management and L1 Digital.

FinTech: Revolut Ties With UK Restaurants To Offer Upto 30% Cashback To Diners

July 28, 2021

Revolut, the UK-based challenger bank, is rolling out new features in its banking app aggressively after its giant fundraise of nearly $800m in a Series E round earlier this month that valued it at $33 billion. The latest new facility for Revolut users is Restaurant Rewards, a cashback feature that rewards them for dining at Revolut-partnered restaurants across the UK.

FinTech: Alternative Investments Platform Yieldstreet Funded Over $2 Billion

July 27, 2021

Yieldstreet offers retail investors the opportunity to invest in alternative asset classes such as real estate, marine, art, legal finance, and commercial lending. Products are offered across a range of various yields, durations, and minimums after specialized teams evaluate each opportunity within their respective asset class. According to Yieldstreet, investors earn a passive income while diversifying their portfolios. The platform has topped $2 billion in deals funded while returning over $1 billion to investors.

FinTech: UK-Based PensionBee Reports Assets Under Administration Have Doubled In A Year

July 26, 2021

An influx of new customers has boosted two-fold PensionBee’s assets under administration as at June 30, 2021. Further, in a landmark year, PensionBee (LON: PBEE) raised £55 million from an IPO in April, putting it on course to achieve profitability by 2023.

FinTech: UK-Based BNPL Player Zilch Closes Series B With Additional $110M

July 23, 2021

The $110 million comprised both debt and equity capital. Zilch, the UK-based BNPL platform has raised an additional $110 million from Goldman Sachs and DMG Ventures. The funding is part of the extended Series B round, first announced by Zilch in April for launching in the USA and Europe. It had then raised $80 million…

FinTech: UK Digital Bank Starling Halves Losses, Boosts Turnover 600%

July 22, 2021

Starling today reported numbers for the 16 months ended March 31, 2021. Revenue at British neobank Starling for the 16 months ended March 31, 2021, rose by nearly 600% to £97.6 million from £14 million for the previous period ending 30 November 2019, while loss after tax more than halved to £23.3 million from £52.1…

FinTech: Eyeing A ‘Global Super App,’ Revolut Launches Travel Booking Feature

July 21, 2021

After its recent $800 million funding, Revolut, the UK-based challenger bank has lost no time in announcing Stays, a travel booking facility in its app. The bank’s Premium and Metal category of users get 10% instant cashback on their bookings, the bank said in a blog, marking its entry into a non-finance-related product.

FinTech: Founderspeak From Checkout.com, One Of Europe’s Most Valuable Fintechs

July 19, 2021

Guillaume Pousaz, founder, Checkout.com, spoke to CNBC last week on everything fintech. Charting a torrid growth trajectory this year, Checkout.com is one of Europe’s most valuable fintechs. What is not so well known, however, is the fact that the startup bootstrapped it for seven of its initial years under founder Pousaz. Pousaz dwells on a…

Venture Capital: Tennis Superstar Serena Williams Backs Fintech Esusu

July 16, 2021

Serena Williams has invested an undisclosed amount through her venture capital arm in Esusu, a fintech that automates credit building by reporting a person’s rent payments to credit bureaus, “boosting credit scores one rent payment at a time.”

FinTech: Berkshire Could Romp Home With 60% Gains In Paytm’s IPO

July 16, 2021

A Reuters report said Paytm, a leading Indian digital payments processor, has filed for a $2.23 billion IPO.
The proposed IPO would value Paytm at about $25 billion, with the pandemic having fuelled a surge in digital payments in the country. It would potentially mark a lucrative payday for Paytm’s investors, which include the Ant Group (HK: 6688), Softbank (TYO: 9984), and Berkshire Hathaway (NYSE: BRK.A).

FinTech: Thiel-Backed N26 In Funding Talks, Could Value At $10B

July 15, 2021

Bloomberg reports that German fintech and digital bank N26 is in talks to raise funds, likely in the hundreds of millions of dollars, at a tentative valuation of about $10 billion. Bloomberg quoted people familiar with the matter; however, N26 declined to comment.

Venture Capital: Revolut Valued At $33B In $800M Funding Round

July 15, 2021

Revolut, the Uk-based challenger bank and fintech, raised $800 million in a funding round led by SoftBank’s Vision Fund 2 and Tiger Global Management, both new investors. The funding came in at a valuation of $33 billion, about six times Revolut’s valuation in a previous round in 2020.

FinTech: M1 Finance Raises $150M In Its Fourth Funding Round In A Year

July 14, 2021

M1 Finance, which helps its users to invest, borrow, and spend on one Super App platform, announced today its raise of $150 million in a Series E round led by SoftBank Vision Fund 2. Existing investors also participated in the funding.

FinTech: Mastercard And Verizon To Collaborate On 5G Contactless Payments

July 13, 2021

Mastercard (NYSE: MA) and Verizon Communications (NYSE: VZ) announced today a partnership to combine their card network and 5G connectivity in innovative solutions such as contactless shopping, autonomous checkouts, Cloud POS and Internet of Things (IoT).

FinTech: UK Fintechs Pull Out All The Stops In Fundraising In H1 2021

July 12, 2021

A report by trade body Innovate Finance says that the UK fintech sector raised more in just the first six months of 2021 than the whole of 2020. Enthusiastic investors pumped $5.7 billion into the sector in H1, 34% higher than the total amount of $4.3 billion received in all of 2020, and more than pre-pandemic levels.

FinTech: Stripe Makes The First Move En Route To Much Anticipated Stock Market Listing

July 9, 2021

A Reuters exclusive report said digital payments processor Stripe Inc had hired a law firm to advise on a potential listing. Stripe is reckoned as the most valuable US tech startup after it garnered a valuation of $95 billion in a $600 million fundraising round in March. Investors included Allianz X, Baillie Gifford, Sequoia Capital, and Ireland’s National Treasury Management Agency (NTMA).

Venture Capital: Clearco, Which Offers Equity-Free Capital To Startups, Raises $215M

July 8, 2021

That model is clearly working because Clearco has so far paid out $2.4 billion to 5,500 founders in the e-commerce, mobile app, and enterprise software segments. Today (July 8, 2021) the company said it raised $215 million in an equity funding round led by SoftBank Group Corp’s Vision Fund 2.