Tagged: challenger bank

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

N26 Introduces Premium Account Black in Denmark, Iceland, Liechtenstein, Norway, & Sweden

Germany-based challenger bank N26 recently announced it has introduced premium N26 Black account in  Denmark, Iceland, Liechtenstein, Norway, and Sweden. According to N26, N26 Black targets frequent travelers and it removes the “uncertainty” of exchange rates and transaction costs encountered through foreign travel and provides customers with free… Read More

Digital Banking Platform Starling Bank Secures £60 Million Through Series C Funding Round Led By Merian Global Investors

UK banking platform Starling Bank announced on Wednesday it secured £60 million through its Series C funding round, which was led by Merian Global Investors, including the Merian Chrysalis Investment Company Limited (Merian Chrysalis). Starling Bank reported that it has raised further £15 million from its existing… Read More

Monzo Launches First 100 Business Accounts

UK challenger bank Monzo announced on Monday the launch of its first 100 business accounts. This news comes just a few months after Monzo revealed it was considered business banking, with Founder and CEO, Tom Blomfield, stating 2019 plans included business accounts. Speaking about the new… Read More

UK Digital Bank Monese Brings Apple Pay to Customers

Digital challenger bank Monese announced on Tuesday it is now offering Apple Pay for all personal Monese cards across the UK, France, Germany, Italy, Spain, Finland, and Ireland. According to Monese, customers may now make payments from both their UK or European Monese cards, easily and… Read More

Stealth Bank: Project Imagine’s First Venture dozens Wants to Be Where You Save Your Money, Plans Crowdfunding Round on Seedrs

dozens, a “new banking and wealth management alternative” wants to be where you save your money. dozens will accomplish this by providing proprietary financial products including a 5% annual interest rate which will make high-interest rates accessible to more people. dozens is placing the money… Read More

Digital Bank Xinja Tops A$ 1.6 Million, Seeks Max Raise on Equitise of A$ 4,859,800

The UK and Europe and other jurisdictions are not alone in pursuing the digital banking revoluation. In Australia, Xinja is following in the footsteps of platforms like Revolut and Monza by raising growth capital on a crowdfunding platform. Several weeks into their public campaign on… Read More

Accion Venture Lab Funds Brazilian Digital Bank Jeitto

Digital challenger bank Jeitto has that it has closed on a new funding round led by Accion Venture Lab, a seed-stage investment initiative of global nonprofit Accion. The amount of funding was not disclosed. Accion was described as a strategic investor with “extensive global investment… Read More

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