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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: London-Listed, Global Fintech Wise To Expand Its North America Business

November 30, 2021

Wise (LON: WISE), the global payments processor previously known as TransferWise, announced a 2022 expansion plan for its operations in North America given its solid growth in the half year concluded on September 30, 2021.

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More Stories on FinTech

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.

FinTech: U.K.’s Atom Bank Hits Twin Billion-Pound Milestones On Single Day

July 8, 2021

App-based Atom Bank, which calls itself the UK’s first bank completely for mobile, hit two major milestones this week on the same day: More than £3bn of residential mortgage completions and £1bn in deposits into its Instant Saver accounts. The growth has encouraged the company enough to reconfirm its intention to go public in the next two years.

FinTech: Money Transfer App Wise Gets $11B Valuation In London Direct Listing

July 7, 2021

Fintech Wise Plc (LON: WISE) on Wednesday pioneered the direct listing route for a tech company going public on the London Stock Exchange (LSE), and in the process, garnered a solid capitalization of £8 billion ($11 billion). Apart from turning founders Taavet Hinrikus and Kristo Kaarman into billionaires, Wise’s bumper listing also marked a win for the UK, which has set its heart on turning London into a fintech superhub after Brexit.

FinTech: Revolut In Talks To Raise Upto $1B At A Valuation Over $30B

July 6, 2021

Revolut, the British challenger bank, and its advisers have sounded a select group of investors on an investment between $750m (£542m) and $1bn (£723m), according to Sky News. The report, which cited “industry sources,” also said SoftBank’s Vision Fund 2 is one of those investors, and that the round, if successful could value Revolut at a massive $30 billion or more.

FinTech: ClearScore, UK, Scores $200M Investment From Invus Opportunities

June 25, 2021

ClearScore, the UK-based fintech that provides free credit scores to everybody (forever) announced it had received an investment of $200 million, at a valuation of $700 million, from Invus Opportunities, the global equity investor. Existing investors QED, Blenheim Chalcot and LeadEdge, together with management, retained the majority of their positions in ClearScore, but allowed Invus Opportunities to take a significant minority position in the company.

FinTech: Visa To Acquire European Open Banking Platform Tink For $2.2B

June 24, 2021

Visa (NYSE: V) announced Thursday its deal to acquire European open banking platform Tink for €1.8 billion ($2.2 billion) as it moves to take advantage of European Union law – the revised Payment Services Directive (PSD2) – which facilitates open banking. The law requires banks to allow access to customer data by registered third-party providers to boost competition.

FinTech: Dutch Fintech Mollie Scores $800M Raise In Round Led By Blackstone

June 23, 2021

Fast-growing Dutch payment service provider Mollie announced Tuesday its closing of a US$800 million in a Series C funding round led by Blackstone Growth. TCV who led the Series B investment in September 2020 also participated in the funding round along with EQT Growth, General Atlantic, HMI Capital and Alkeon Capital.

FinTech: Revolut Reports Better Margins But A Higher Total Loss For 2020

June 22, 2021

Revolut, the London-based challenger bank led by Nikolay Storonsky, reported its numbers for the year ended December 31, 2020 on Monday. Though the financial superapp reported strong growth on various metrics including customer base, gross margins and revenue, it incurred a total loss of £168 million for the year, up 57% from 2019.

FinTech: Dutch Neobank bunq To Raise $190M, Acquire Lending Platform

June 21, 2021

Dutch digital banking challenger bunq, which offers a completely mobile-based, branch-free banking experience, is to raise €160 million ($190 million) at a €1.65 billion (nearly $2 billion) valuation. Pending regulatory approval, the transaction is an investment from an unnamed UK-based private equity company for 10% of Bunq’s equity. As part of the deal, bunq will also acquire a small business lender from the same investor.

FinTech: Fintech Credijusto Snaps Up Mexican Bank; Becomes Regulated Neobank

June 18, 2021

According to Entrepreneur, Credijusto, the Mexican fintech and lending platform acquired Banco Finterra for about $50 million, in the process bagging a banking license. Banco Finterra specializes in financing solutions for the agri-food sector.

FinTech: U.K. Fintech Wise Announces Plans for A Direct Listing on the London Stock Exchange

June 17, 2021

This is the first time a tech company is going public via a direct listing in London. Wise, previously known as TransferWise, announced Thursday its decision to go public via a direct listing on the London Stock Exchange. The company justified a direct listing in favour of an IPO on grounds that it is “a…

FinTech: 10X, The Fintech Founded By Ex-Barclays Chief Antony Jenkins, Rakes In $187M To Scale Massively

June 16, 2021

Founded in 2016 by Antony Jenkins, former CEO of Barclays (LON: BARC), fintech 10X Future Technologies has raised $187 million from a clutch of bulge bracket investors. The firm’s oversubscribed Series C was co-led by BlackRock (NYSE: BLK) and Canada Pension Plan Investment Board (CPP Investments). Existing investors JPMorgan Chase (NYSE: JPM), Nationwide (LON: NBS), Ping An (SHA: 601318), and Westpac (ASX: WBC).

FinTech: Stripe Shareholders Sold $1B Shares Last Month (WSJ); Company Launches ID Tool

June 15, 2021

Major investors last month snapped up $1 billion worth of shares from existing shareholders in Stripe in a tender offer that received as much as $4 billion in bids according to the WSJ.

FinTech: Virgin Money Australia, A Digital Bank, Goes Live On Temenos Cloud

June 14, 2021

Temenos (SIX: TEMN), a global leader in banking software, announced the successful launch of Virgin Money Australia on the Temenos Banking Cloud. Fully integrated digital banking, bringing together credit cards, transaction and savings accounts, plus a loyalty program and personal financial management tools into a single, native mobile app, is now available to Virgin Money customers.

FinTech: Mexican Payments Platform Clip Raises $250M, Turns Unicorn

June 11, 2021

Clip, a Mexican digital payments and commerce platform founded in 2012, announced June 10, its raise of $250 million in a round led by the SoftBank Latin America Fund and Viking Global Investors LP. The round valued Clip at approximately $2 billion.

FinTech: With $639M In The Bag, Klarna Notches Massive $45.6B Valuation

June 10, 2021

Klarna, the Swedish fintech best known for its buy-now-pay-later offering, announced today its raise of $639 million in a round led by SoftBank Vision Fund 2. It included participation by Adit Ventures, Honeycomb Asset Management and WestCap Group, all existing investors. Klarna achieved a post-money valuation of a staggering $45.6 billion.

FinTech: NeoBank Tonik Awarded Philippines’ Digital Banking License

June 9, 2021

With the award of the two licenses, which marks a further push in favor of fintech banking in Southeast Asia, the Philippines central bank has greenlighted a total of three banks for digital banking in the country. It awarded a license to state-backed Overseas Filipino Bank in March. Tonik had received its initial rural bank license from the BSP in 2019, allowing the neobank to provide retail banking services focused on retail deposits, card payments, and consumer loans. It claims its digital license is the first for any private and purely digital bank in the country.

FinTech: Buffett’s Berkshire Invests $500M In Brazilian Digital Bank Nubank’s $750M Extension Round

June 8, 2021

Brazilian digital bank Nubank, the largest fintech in Brazil and one of the biggest in the world, on Friday closed a $750 million funding round that included an investment of $500 million by Warren Buffett’s Berkshire Hathaway (NYSE: BRK.A).

FinTech: Challenger Bank Dave To Go Public Via $4 Billion SPAC Merger

June 7, 2021

Challenger bank Dave, which is backed by billionaire Mark Cuban and other investors such as Norwest, Section 32, Capital One, The Kraft Group, SV Angel, and The Chernin Group, said today it was going public by merging with VPC Impact Acquisition Holdings III, Inc. (NYSE: VPCC), a so-called Special Purpose Acquisition Company or SPAC.