Daily Fintech Newsletter | Feb. 19th, 2021
Stripe at a $115 billion valuation
Hi!
In case you missed it, please see below today's most relevant fintech news.
Investors are valuing Stripe at a $115 billion valuation in “secondary market” transactions. Furthermore, Stripe is planning a new primary funding round at a valuation north of $100 billion. The San Francisco company helps businesses small and large—including Peloton and Canadian e-commerce platform Shopify—accept online payments, taking a fee on every transaction. Over the past 12 months, fintech valuations have ballooned, with companies like Robinhood, renters, and homeowners’ insurer Lemonade, buy-now-pay-later company Affirm and online bill payment platform Bill.com seeing their values rise threefold or more. More than a half dozen have gone public or are in the late stages of doing so. Stripe is among the many fintech companies rumored to be going public sometime in 2021. Link here.
Opera, one of the world’s major browser providers with 380 million active users globally, including ~50 million active users in Europe, announced the launch of new, in-browser e-commerce functionality supporting cashback and payments activities under the brand “Dify”. Link here.
Fintech company Viva Republica (Toss) said that it will work with South Korean life insurance firm Samsung Life Insurance to advance its platform for insurance planners. Link here.
Allied Payment Network, an industry-leading provider of emerging bill pay technologies to financial institutions, announced it will join the Moven collaborative ecosystem of banks, credit unions, and fintech organizations to help financial institutions capitalize on the $3.9 trillion bill pay market. Link here.
Joompay, a social finance app aimed to enable seamless, secure, and lightning-fast money transfers across Europe, has officially partnered up with Visa. Link here.
Mesh Payments, a startup that is transforming the way corporate payments are processed, paid, and managed, announced that it has raised a $13 million financing round, led by TLV Partners. Link here.
Mirato, an Israeli firm that has built an AI-driven third-party risk management platform (TPRM) for financial institutions, has raised $9 million in funding. Link here.
Cryptocurrency wallet provider Blockchain.com has raised $120 million in funding from a host of macro investors, including Google Ventures. Link here.
Former Funding Circle chief risk officer Rahul Pakrashi has joined Cape, an Australian fintech looking to reinvent the corporate credit card. 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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