Global

July 31, 2020 @ 10:04 am By JD Alois  |  

Online lender Prospa (ASX: PGL), a Fintech serving Australian and New Zealand SMEs, has released FY20 unaudited results. Simultaneously, Prospa has announced that it has set aside an additional $20 million provision for credit losses, largely due to the ongoing COVID-19 crisis. Prospa notes that… Read More

July 31, 2020 @ 9:04 am By Samantha Hurst  |  

Digital asset exchange Bitfinex announced on Friday it has launched Bitfinex Pulse on mobile, which will enable the exchange’s growing user base to obtain market-moving information on the go. According to Bitfinex, Bitfinex Pulse is a social network tailored to meet the needs of crypto… Read More

July 30, 2020 @ 9:42 pm By Samantha Hurst  |  

RealPage, Inc. (NASDAQ: RP), a global provider of software and data analytics to the real estate industry, announced on Thursday it has launched online vendor payments, which are automating the entire vendor payment process from procurement to purchase order, invoice processing, and payment. According to… Read More

July 30, 2020 @ 4:20 pm By JD Alois  |  

Losses at UK based digital bank Monzo continue to mount, according to a report. Monzo is said to have generated £113.8 million in losses versus year prior losses of £47.1 million. Simultaneously, top-line revenue rose to £67.2m from £19.7m for the fiscal year-end February, according… Read More

July 30, 2020 @ 10:47 am By Omar Faridi  |  

Funding Circle (LSE: FCH), an SME lender that facilitates loans in both the US and parts of Europe, recently noted that as the Coronavirus-related lockdown measures are eased, many businesses in the United Kingdom are preparing to open up again. However, even for businesses that… Read More

July 30, 2020 @ 10:30 am By JD Alois  |  

OurCrowd is one of the largest investment crowdfunding platforms in the world. Based in Israel but investing globally, OurCrowd reports over $1.5 billion in committed capital and a growing number of institutional investors. Since platform launch, OurCrowd has had over 35 exits including high profile… Read More

July 30, 2020 @ 10:21 am By Samantha Hurst  |  

Global fintech Circle announced on Thursday it has joined forces with digital asset prime brokerage firm Genesis to accelerate the adoption and acceptance of digital dollar stablecoins in mainstream finance. According to Circle and Genesis, the partnership includes a $25 million investment of capital into Circle… Read More

July 30, 2020 @ 9:22 am By JD Alois  |  

The Bank of England has announced that Accenture has been appointed as the “Technology Delivery Partner for the Real Time Gross Settlement (RTGS) service Renewal Programme.” RTGS is where financial institutions hold their sterling bank accounts. The Bank of England will work with Accenture to… Read More

July 30, 2020 @ 9:00 am By Omar Faridi  |  

ConsenSys Labs, an organization that aims to solve real-world problems with Ethereum blockchain-based solutions for enterprises, announced on July 30, 2020 that it’s accepting applications for the Filecoin Launchpad Accelerator, which is being powered by Tachyon, an accelerator program by ConsenSys Ventures that takes early-stage… Read More

July 30, 2020 @ 8:41 am By Omar Faridi  |  

JustUs, a UK-based peer to peer (P2P) lender, is planning to introduce its Small Business Interruption Loan Service (SBILS) by the end of next month and has asked the UK government to also take part in the program by lending alongside the crowd. The SBILS… Read More

July 30, 2020 @ 8:00 am By Omar Faridi  |  

Bluzelle, which aims to serve as s “decentralized” data network, revealed on July 30, 2020, that it will be launching Phase 1 of its mainnet. The network is scheduled to officially go live on August 8, 2020. Once the network is live, Bluzelle’s BLZ token… Read More

July 29, 2020 @ 11:35 pm By Omar Faridi  |  

The global Fintech ecosystem is growing steadily. The financial technology sector is projected to reach $460 billion within the next five years. But financial losses due to fraudulent activities have reached $42 billion, globally, during the past two years. The billions of dollars stolen due… Read More

July 29, 2020 @ 11:14 pm By Omar Faridi  |  

X15 Ventures, a Fintech firm owned by the Commonwealth Bank of Australia (CBA), has introduced an app for SMEs that helps them with launching their operations. There’s also a cash incentive being offered to firms that will use the app to start their business. The… Read More

July 29, 2020 @ 10:35 pm By Omar Faridi  |  

Kelvin Lee, the Southeast (SE) Asia head for Fintech firm Ripple, notes that the more businesses that begin supporting and integrating PayID into their platforms, the better off the digital payments ecosystem will be. Ripple, which is leading the Open Payments Coalition (OPC), is reportedly… Read More

July 29, 2020 @ 9:12 pm By Omar Faridi  |  

The decentralized finance (DeFi) ecosystem has a market cap that is roughly equivalent to merely 1.5% of the market capitalization of the much-larger cryptocurrency market, according to data from Messari. Messari, a digital asset market analytics company, reveals that the market capitalization of all DeFi… Read More

July 29, 2020 @ 12:57 pm By JD Alois  |  

Wecan Tokenize, a digital asset platform for real estate offerings, has released its first tokenization solution that includes end-to-end integration for banks and financial institutions, according to a release. The tokenization service is being facilitated with the integration of METACO‘s digital security infrastructure. Wecan Tokenize… Read More

July 29, 2020 @ 9:59 am By Samantha Hurst  |  

Remitly, a U.S.-based online money transfer service, announced on Wednesday it secured $85 million through its latest investment round, which was led by Prosus’s PayU, at a $1.5 billion valuation. Generation Investment Management, Owl Rock Capital, Stripes, DN Capital, Top Tier, Princeville Global, and Threshold… Read More

July 29, 2020 @ 9:04 am By Samantha Hurst  |  

Button, a mobile commerce technology company, recently announced it has joined forces with Bits of Stock, the brand loyalty and investment app, to enable its users to discover in-app brand offers, shop, and earn fractional shares of stock. Button reported that through the integration, Bits… Read More

July 29, 2020 @ 8:26 am By JD Alois  |  

Remitly, a Fintech providing transfers targeting the immigrant community, has raised $85 million at a $1.5 billion valuation. Remitly said its business is booming during the COVID-19 pandemic. FT Partners served as the financial advisor to Remitly on this transaction with existing investor PayU leading… Read More

July 29, 2020 @ 7:46 am By Samantha Hurst  |  

Global payments provider Paysafe announced on Tuesday its latest research shows that subscription-based payments are set for significant growth, with 27% of consumers globally expect the number of subscription payments they make to increase over the next 12 months. According to Paysafe, The research surveyed… Read More