Daily Fintech Newsletter | Feb. 23
Hi!
In case you missed it, please see below today's most relevant fintech news.
The Israeli Fintech sector has registered a remarkable leap over recent months. Fintech is establishing its position as a driving force in Israeli tech, not yet leading the sector, but certainly keeping up with the unequivocal king of the local industry, cybersecurity. 2021 began with an overall record in funding in local tech, with companies reporting investments reaching $1.44 billion in January alone. Five companies raised more than $100 million each at valuations exceeding $1 billion. The industry continues to surge and Fintech is storming ahead. Read more here.
Tweeq | طويق, a Saudi FinTech which aims to provide a feature-rich spending account for individuals and SMEs, has signed exclusive partnership agreements with Mastercard, the leading technology company in the global payments industry and Paymentology. Link here.
Worker tech start-up Orka Technology Group has raised £29m to double headcount and fuel growth of its earned wage access product Orka Pay. Link here.
The Austrian fintech industry generates an annual turnover of €130 million. Although the payments sector is one of the largest in the Austrian financial services ecosystem, there are only 2 licensed TPPs in this country, both of which offer payment initiation services. Link here.
Are we on a Stock Market bubble? Link here.
Stripe’s long-stated mission is to “increase the GDP of the internet." Now the firm, which is widely expected to soon close a fundraise pushing it to a c.$100bn valuation, has hired Mark Carney to its board. 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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