Tagged: challenger bank

UK Challenger Bank Tide Secures £44.1 Million Through Series B Funding Round Led By SBI Group & Augmentum Fintech

Tide, a UK-based SME challenger banking, announced on Monday it secured £44.1 million through its Series B funding round, which was led by specialist fintech investment companies, The SBI Group and Augmentum Fintech plc. As previously reported, Tide describes itself as a current account that saves businesses time and… Read More

Mexican Challenger Bank Klar Secures $57.5 Million Through Latest Investment Rounds

Klar, a Mexico-based challenger bank, announced on Thursday it secured $7.5 million through its seed financing round. The company also reported that it raised an additional $50 million in debt funding. The latest seed round was led by Quona Capital, a fintech venture firm which leverages… Read More

Due to User Feedback, Monzo Is Now Revamping Monzo Plus

UK challenger bank Monzo announced on Tuesday it is making some changes to its Monzo Plus product after users offered feedback on improvement. Tom Davies, the CEO of Monzo revealed more details about the product’s changes, as well as new team and name. “We’re going… Read More

UK SME Challenger Bank Tide Announces First Paid Plan “Tide Plus”

Tide, a UK-based SME challenger bank, announced on Wednesday it is set to launch its new paid plan, Tide Plus. According to Tide, Tide Plus is an upgraded account that gives users “additional support” for running their businesses.” According to Tide, the upgraded membership will… Read More

Monzo Milestone: More Than Three Million People Are Now Using the Challenger Bank’s Services

UK challenger bank Monzo announced on Monday that more than three million people are now using its banking services. The digital bank reported that the amount of people equals 1 in every 20 adults in the UK. Founded in 2015, Monzo claims it is building… Read More

Tandem Bank Promotes “Savetember” to Raise Awareness of National Savings Crisis

Challenger bank Tandem Bank has launched a “Savetember” campaign as it highlights the “national savings crisis” in an attempt to transform UK savings habits. Reports state that savings in the UK are at an all-time low, while credit card spending continues to increase. In 2018,… Read More

Australian SME Challenger Bank Judo Raises $400 Million Through latest Equity Raising

Judo Bank (formerly Judo Capital), an Australian SME challenger bank, announced last week it has finalized its second-round equity raising at $400 million, which is double the initial target of $200 million. This latest equity raise combines follow-on investment from Judo Bank’s existing shareholders, including… Read More

N26 Extends Series D Funding Round to $470 Million; Now Valued at $3.5 Billion

N26, a European digital-only bank, announced on Thursday a $170 million extension of its Series D funding round to $470 million. N26 reported that the extension drives the bank’s valuation to $3.5 billion, claim it to be the highest valued German startup. To date, N26 has raised more… Read More

Monzo Publishes 2019 Annual Report

UK challenger bank Monzo has published its 2019 annual report. According to Monzo. The annual report is a detailed look at what a company’s been doing and how that’s affected its finances over the past financial year. CEO of Monzo, Tom Blomfield, has also written… Read More

UK Challenger Bank Monzo Secures £113 Million Through Latest Investment Round; Bringing Valuation to £2 Billion

UK-based challenger bank Monzo announced on Monday it secured £113 million through its latest investment, led by Y Combinator Continuity and Latitude. The round of funding reportedly brings the platform’s valuation to £2 billion.  The news about Monzo’s latest investment round comes just six months after the… Read More

Crypto Friendly Digital Bank Arival Accepting Investment Reservations on SeedInvest for Upcoming Crowdfunding Round

Digital challenger bank Arival is now accepting reservations for preferred stock on SeedInvest. Arival will be a crypto-friendly bank – unlike most traditional banks in the United States which tend to be crypto-averse. The bank was founded on the notion that banks in many places… Read More

Unicorn Challenger Bank Chime CEO Chris Britt Chats Up Speedy Deposits

Digital challenger bank Chime raised $200 million in funding earlier this year vaunting the upstart bank into Unicorn status. Chime is one of a growing number of digital banks that seek to challenge the hegemony of traditional banks and their brick and mortar legacies. Yesterday,… Read More

Monzo Introduces New Account Customization Premium Feature Monzo Plus

UK challenger bank Monzo announced earlier this week the launch of its new customization premium feature, Monzo Plus. Monzo reported that it previously published a list of things it was looking to explore throughout 2019, including an option to allow users to purchase “add-ons” for their… Read More

UK Challenger Bank Masthaven Secures £60 Million Investment From Värde Partners

UK-based challenger bank Masthaven announced on Wednesday it secured £60 million equity investment by Värde Partners, a global alternative investment firm. According to Masthaven, the investment will enable the bank to deliver against its strategic ambition to become one of the leading specialist banks in… Read More

SME Challenger Bank Judo Bank Receives Full Banking License From Australian Prudential Regulation Authority

Judo Bank (formerly Judo Capital), an SME challenger bank, announced on Wednesday it was granted a full banking license by the  Australian Prudential Regulation Authority (APRA). According to the bank’s Chairman, Peter Hodgson, the full license means Judo will be able to significantly extend the… Read More

UK Challenger Bank Redwood Surpasses £100 Million Lending Milestone

UK-based challenger bank Redwood has reportedly surpassed £100 million in lending. As previously reported, Redwood is considered one of the newest additions to the future of banking, joining peers such as Monzo, Starling, Revolut and more. Redwood is on a mission to target the SME… Read More

Monzo: Users May Now Open An ISA Through Monzo Mobile App

UK challenger bank Monzo announced on Thursday that users may now use the Monzo mobile app to open a cash ISA (Individual Savings Account), thanks to its partnership with OakNorth. It was revealed: “You’ll need to deposit a minimum of £500 to open one. In both… Read More

Small Business Challenger Bank Novo Secures $4.8 Million Through Seed Funding Round Led By Crosslink Capital

Novo, a U.S.-based small business challenger bank, announced last week it secured $4.8 million through its seed funding round, which was led by Crosslink Capital with participation from Red Sea Ventures, Hack VC, RRE, Rainfall, and the Stanford Law School Venture Fund. Founded in 2016,… Read More

Monzo Pauses Plans to Join UK’s Cheque Image Clearing System

UK challenger bank Monzo announced on Friday it was putting its plans on hold to allow its users to pay in cheques with a picture. The startup reported that last year it announced its plans to join the Image Clearing System, but in January, it… Read More

N26 Set to Open New Office in Brazil

Germany-based challenger bank N26 is reportedly set to open a new office in Brazil at the beginning of March. The news comes less than two months after N26 secured $300 million through its Series D funding round, which was led by venture capital and private equity firm Insight… Read More

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