Tagged: banking challenger

Australian Banking Challenger Judo Bank Remains “Well Capitalized” Despite Limited Profitability: Report

S&P Global Ratings has reportedly given Judo Bank a BBB- rating, which is a move that may have surprised one of Australia’s first banking challengers for SMBs, especially due to the “relatively short life cycle,” according to an update from The Future of Banking. In… Read More

Monzo USA Introduces Salary Sorter Tool to Make it Easier to Manage Finances, Cover Monthly Expenses, Save Money

UK-based digital bank Monzo says that it already makes it easy for clients to manage their spending and ensures that they have funds set aside for settling bills and adding to their savings. Monzo, which is under investigation for possible money laundering activity and posted… Read More

Fintech Chime Secures $750M at $25B Valuation from SoftBank, Sequoia Capital Global Equities, Others

Chime revealed on Friday (August 13, 2021) that it secured $750 million in capital through a Series G round round that now values the Fintech Unicorn at $25 billion. Notably, that’s $10 billion more than what the company had reported in October 2020 (when it… Read More

UK’s Digital Bank Monzo Is Facing Potential Money Laundering Charges by FCA, Reports Annual Loss of £130 Million

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UK-based digital bank Monzo is currently facing a civil and criminal money-laundering investigation that is being carried out by the Financial Conduct Authority (FCA). Monzo‘s management disclosed these details in its annual report that was released on Friday (July 30, 2021). For the second straight… Read More

Digital Bank Starling CEO Anne Boden Says They’re Pulling Away from the Fintech Pack, Firm Reports Profitability, Growing Responsibly

UK’s Starling Bank recently shared its trading update for the quarter to 30 June 2021 and its report and “accounts for the period ending 31 March 2021.” The results, released by Starling on July 22, 2021, demonstrate “strong and responsible growth, continued profitability and a… Read More

Revolut Becomes UK’s Most Valuable Fintech after Securing $800M at a $33B Valuation

Prominent digital bank Revolut has finalized a massive $800 million round that now values the loss-making Fintech at $33 billion. Revolut‘s latest investment round brings on board two key investors, the SoftBank Vision Fund 2 and Tiger Global Management. The capital injection will be channeled… Read More

UK’s Digital Bank Starling to Utilize InstaVolt’s Rapid Charging Network as a Full Advertising Channel

InstaVolt, an established rapid electric vehicle charger network, has partnered with UK’s digital bank Starling. Through the partnership with Starling, the digital bank will utilize InstaVolt’s rapid charging network as “a full service advertising channel from 5th July.” As mentioned in a release shared with… Read More

Digital Banking Fintech Revolut Announces Paid Wellbeing Days to Reward High-Tempo Performance Amid Challenging Circumstances

Digital banking platform Revolut notes that they already know that Revoluters are “exceptional people.” However, the Fintech firm points out that what makes its team extraordinary is how well they have adapted to remote work in a post COVID environment. Revolut writes in a blog… Read More

Dutch Banking Challenger Bunq to Acquire €160M in Capital at €1.65B Valuation, Deal Includes SME Lending Platform Purchase

Dutch banking challenger Bunq has reportedly committed to a €160 million round at a €1.65 billion valuation. Bunq will also be acquiring a small business lender as part of the transaction. Bunq’s latest investment round was joined by an unnamed UK-based private equity company. As… Read More

Digital Banking: UK Fintech Revolut Is Now Offering “Smarter” Invoices, Improved Expense Management Features

Digital bank Revolut has shared the latest updates on its platform for June. The Revolut team writes in a blog post that the world is now beginning to open up “a bit more” and they’re hoping that (if you can) you’re enjoying (somewhat of) a… Read More

Digital Banking Fintech Unicorn Nubank Secures $750M as Part of Series G Extensions, Now Valued at $30B

Brazil-based banking challenger Nubank recently revealed that it has secured a total of $750 million in capital as part of two extensions of its latest Series G round. The Fintech firm reports raising $1.15 billion in total. During Nubank‘s first extension, the banking challenger acquired… Read More

Italian Challenger Bank AideXa Acquires Banking License from ECB, Will Offer Short-Term Credit Facilities

AideXa, an Italian banking challenger for small businesses, has reportedly acquired a full banking license which was issued by the European Central Bank (ECB). Established by Roberto Nicastro, ex- GM at Unicredit, Banca AideXa aims to leverage AI and Open Banking to better serve SMEs… Read More

Revolut Business to Offer Currency Forward Contracts or FX Forwards in the UK

Revolut Business revealed on Friday (May 21, 2021) that it’s introducing currency forward contracts (FX Forwards) in the United Kingdom. Revolut Business’ FX Forwards will allow firms of any size – from large corporates to single-person businesses – to set future exchange rates via an… Read More

Banking Challenger Monzo Now Offering New and Improved Invoices for Business Pro Clients

Digital bank Monzo has introduced new and improved invoices on Business Pro. The team at Monzo notes that they’ve made in-app invoicing “better” in order to give users more time “for what really matters (like running your business, being with family, or queuing for an… Read More

Digital Banking: Revolut Business Web App has Been Updated, Now It’s Easier to Work with Marketplace Apps

Digital bank Revolut says your account has had “a spring clean.” Revolut Business has a “new look” and a more “personalized” experience. The Revolut team writes in a blog post: “We’ve updated our Revolut Business web app and the new, simpler navigation makes it easier… Read More

UK’s Starling Bank Explains how their Overdraft Facility can Serve as Short-Term Safety Net for Clients

UK-based digital bank Starling notes that their overdraft can serve as a short-term “safety net” for eligible or qualified personal customers. The Starling Bank team writes in a blog post that if you don’t have enough funds in your account to cover essential payments or… Read More

UK’s Banking Challenger Monzo Announces New Product Updates to Improve User Experience

UK-based banking challenger Monzo notes in a recent product update that it’s now possible to send a payment reminder to someone you may have split a bill with (via the Fintech firm’s app). The Monzo team noted in a blog post: “As of today (May… Read More

Digital Banking Challenger Monzo Adds New Features for Customers’ Connected Accounts and Virtual Cards

UK-based banking challenger Monzo recently revealed that it has added new features for its customers’ connected accounts and virtual cards. The Monzo team writes in a blog post: “We’ve added some exciting new features to help you get more visibility and control over your other… Read More

UK Fintech 3s.Money, a Banking Challenger that Helps Corporates with Managing Fund Transfers, Secures £3M in Capital

UK-based 3s.money, a startup that assists corporates with accepting and managing their bank transfers in foreign markets, has reached a £40 million valuation following a £3 million Series B round that was led by TMT Investments. As stated on 3s.money’s website: “3S Money is a… Read More

OakNorth Reportedly Entered into Deals with Capital One, Fifth Third Bank

OakNorth has reportedly entered into software deals with US banking institutions Capital One and Fifth Third, according to a report from BI. OakNorth has managed to onboard two new clients for its credit intelligence product offering. Capital One and Fifth Third Bank will be using… Read More

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