Daily Fintech Newsletter | Apr. 9th
Hi!
In case you missed it, please see below today's most relevant fintech news.
Saving and investing app Acorns has acquired Pillar, an AI-powered startup built to help manage student loan debt, in its second acquisition of 2021. The companies declined to reveal the financial terms of the deal, only noting that within six months of launching, Pillar managed over $500 million worth of student loan debt of more than 15,000 borrowers. Link here.
Ritmo, the Capital as a Service company that offers non-dilutive investment to digital entrepreneurs, has closed its first round of financing, led by Sabadell Venture Capital, Inveready, and FinRebel, worth 3 million euros. Link here.
SPOKO.app, a fintech operating on the international money transfer market, has obtained financing of EUR 5m from its strategic investor - FinTech Ventures S.A. Link here.
Avant, a leading financial technology company that gives underserved consumers access to the credit they deserve, announced that it has completed the acquisition of Zero Financial, Inc. and Level, the company's neobank and design-forward banking app assets. Link here.
Facebook has begun trialing QR code-based person-to-person payments and personalized payment links. Link here.
PPS, formerly PrePay Solutions and an Edenred company, today announces that it has been selected to be the partner to pockid, the first German Neobank for Generation Z (15–24-year-olds). Link here.
Fintech companies are set to win significant market share from banks says J.P. Morgan's Chase chief Jamie Dimon, who laments the regulatory constraints that hobble banks as they face up to the threat from Big Tech competitors. Link here.
London-based TrueLayer has raised $70 million in a Series D round bringing the fintech’s total capital raised to $142 million. The funding is expected to accelerate TrueLayer’s expansion particularly in the areas of engineering, product, and commercial teams. Link here.
This ends my Daily Fintech Newsletter. Let me know if there are any questions or news/insights worth mentioning in the next newsletter. Until the next!
Regards,
Marcel van Oost
marcelvanoost.com
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