Global

We find Fintech news from around the world and share it with you here.

Digital Bank Zopa Raises $300 Million, Expects to be Profitable within Weeks

Zopa, a digital bank that started as a peer-to-peer lender, has raised $300 million (£220 million) in a funding round that reportedly gives the Fintech a $1 billion valuation. The deal is currently in the process of receiving regulatory approvals from UK regulators.  JP Morgan… Read More

Fintech Is Increasingly being Embedded where Financial Info, Money Is Involved: Report

Plaid and The Harris Poll have released a report, titled The Fintech Effect: Fintech’s Mass Adoption Moment. The report noted that as Fintech adoption approaches “parity” with traditional banking (95% of consumers are banked), it’s also become the main way that most consumers manage their… Read More

UK Fintech Moneybox Appoints Laurel Powers-Freeling as Independent, Non-Executive Chairperson

Laurel Powers-Freeling has reportedly joined saving and investing app provider, Moneybox, as an “independent” and non-executive chairperson. Powers-Freeling will aim to offer strategic counsel and governance oversight across key aspects of the business which currently offers services to over 700,000 clients and earlier this year… Read More

Lithuania’s Financing Platform, Debitum, Will No Longer Offer Cubefunder Loans via their Platform

At the beginning of October 2021, Debitum, a Lithuania-based financing platform, had reportedly asked Cubefunder to repay all the invested amounts and earned interest to their investors. On October 8, 2021, all final payments “were made,” the Debitum team confirmed in a blog post. Therefore,… Read More

BearingPoint Regtech Is Now Doing Business Under the New Company Name, Regnology.

BearingPoint Regtech is now doing business under the name Regnology. As noted in a release, the name stands for the firm’s Core business: Regulatory Technology. The change of name is “a logical step after BearingPoint Group sold the RegTech business to the private equity firm… Read More

Digital Bank N26 Raises “Record Breaking” $900 Million Round at $9+ Billion Valuation

Digital banking continues to be a hot sector of Fintech as Germany-based N26 has announced a $900 million “record-breaking” funding round at a whopping $9+ billion valuation. The capital infusion was led by Third Point Ventures and Coatue Management, with Dragoneer Investment Group joining as… Read More

Open Banking: Credit Kudos Introduces Signal, an Accurate, Explainable Credit Score for Efficient Loan Processing

Credit Kudos, the Open Banking credit reference agency, has introduced Signal, which aims to serve as an accurate, explainable Open Banking credit score in order to assist lenders with serving the requirements of more clients, lower defaults and evidence risk decisions. Currently available in the… Read More

Deel Raises Huge $425 Million Series D at $5.5 Billion Valuation

Deel has just raised $425 million at a valuation of $5.5 billion, according to a note from the company. Deel claims the title as the “highest valued company in the global hiring, payments, and compliance space.” The Series D funding round was led by Coatue,… Read More

Coventry Building Society and Atos Announce Program to Accelerate Digital Transformation

Coventry Building Society and Atos announced on Monday (October 18, 2021) the completion of a “major” upgrade of its digital infrastructure by Atos that will “help strengthen the Society’s position as a top 10 UK savings and mortgage provider.” As mentioned in the announcement, Coventry… Read More

Klarna Adds Pay Now Option Following Complaints About BNPL Service

Klarna, a neobank and payments platform, has announced the addition of the ability to “Pay Now” for UK customers alongside the option to pay overtime or Buy Now, Pay Later (BNPL) service. Klarna said it took these actions after being informed by the UK Financial… Read More

Digital Transformation: UK Fintech Modulr Explains how Contactless Payments have Evolved Over the Years

Over the years, technology has transformed the way we experience the world in ways that “few could have imagined,” the team at UK-based Fintech Modulr writes in a blog post. They’ve noted that technological advancements have consistently offered us faster and more convenient ways of… Read More

European P2P Lender Bondora Sets New Record: €2.3M Recovered in Sept 2021

The team at P2P lending platform Bondora notes that September was another month that will be recorded in the platform recovery and collections “hall of fame.” Bondora writes in a blog post that more than €2.3 million was recovered in missed payments, which is notably another… Read More

Rachid Ajaja: CEO and Founder at AllianceBlock Explains Why Blockchain Interoperability Is Becoming Key Requirement

We recently connected with Rachid Ajaja, CEO and Founder of AllianceBlock, the first “globally compliant” decentralized capital market. Ajaja explained what his organization is doing to support the nascent DeFi space. He also commented on the rise of crypto-assets and how to create a sustainable… Read More

Chip Now Over £11 Million on Crowdcube

Fintech Chip is now over £11.5 million for its equity offering on Crowdcube. As it stands today, around 9650 investors have participated in the securities offering which is raising equity capital at a pre-money valuation of over £86 million. Sales are expected to close today…. Read More

Railspay, Part of Railsbank, Collaborates with Parpera on Banking as a Service Offering

RailsPay, an offshoot of Railsbank operating in Australia, has partnered with Parpera to offer its first Banking as a Service (BaaS) product. Parpera is a money management platform for consultations, freelancers, startup founders, and gig-workers. There are an estimated 2.4 million businesses in Australia with… Read More

UK’s Digital Bank Monzo to Allow Contactless Payments up to £100, to Enhance User Experience

The team at UK-based digital bank Monzo notes that beginning on October 14, 2021, they have  increased the limit for contactless card payments “from £45 to £100.” So the Fintech firm’s clients can carry out single payments of “up to £100” using their contactless Monzo… Read More

Marc Hauser Appointed as Head of F10 Switzerland

Marc Hauser has been appointed as the Head of F10 Switzerland and member of the Global Leadership Team. As mentioned in the announcement, Marc will be responsible for “leading the Swiss team in achieving F10’s mission of shaping the future of banking and insurance.” In… Read More

PSD2 Payments: Financial API Platform Salt Edge Partners with Italian Fintech Accelerator Supernovae Labs

Salt Edge, a Financial API platform has partnered with Italian Fintech accelerator Supernovae Labs in order to support Italian financial institutions and third-party providers with aggregating banking data and carrying out payments enhanced by PSD2. Through their collaboration, Salt Edge and Supernovae Labs are providing… Read More

Digital Banking Fintech Revolut Performs Updates to Enhance Security, Streamline UX

Digital banking platform Revolut notes in a blog post that Halloween is soon on its way, however, there’s nothing “spooky” about the work they’ve been doing during October 2021. The Revolut team also mentioned that they’ve performed updates to enhance platform security and reduce your… Read More

UK based Digital Banking Platform Starling Explains How to Set Your Own Contactless Payments Limit

The team at UK’s digital bank Starling notes that they always want their clients to be in control of their funds. That’s why they are introducing a feature that allows customers to set their own limit for contactless payments made with their debit cards, “up… Read More

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