Daily Fintech Newsletter | Mar. 16th
Hi!
In case you missed it, please see below today's most relevant fintech news.
On the heels of reports that Stripe was raising yet more money, the payments giant has now confirmed the details. The company has closed in on another $600 million, at a valuation of $95 billion. Stripe said it will use the funding to expand its business in Europe, with a focus on its European HQ, and also to beef up its global payments and treasury network. Link here.
The UK-based personal financing app, Lumio, has raised £1.15m in a target-smashing crowdfunding campaign. Link here.
In 2020, the UK saw more than double the loans made to small and medium enterprises (SMEs) than the previous year, at more than £54 billion. Link here.
ERP, HCM and Outsourced Payroll Services provider, Symatrix, has announced it has signed a partnership agreement with Wagestream, market leading Earned Wage Access platform. Link here.
Financial Services Superintendent Linda Lacewell announced that the New York State Department of Financial Services (DFS) has approved the application of Bakkt Marketplace, LLC, a wholly-owned subsidiary of Bakkt Holdings, LLC, for virtual currency and money transmitter licenses. Link here.
Cryptocurrency player BlockFi has hit a $3 billion valuation off the back of a $350 million Series D funding round led by Bain Capital Ventures, partners of DST Global, Pomp Investments, and Tiger Global Management. Link here.
Venture capital deals in Mexico saw a spike during the third quarter of 2020 compared to April to June, both in the number of rounds and amount invested, as the country hit 31 deals (106.7% growth) and US$184 million invested, 220% more than in the previous quarter. Link here.
Payments firm Pannovate has signed with Mexican financial services firm KKO to help the launch of a new digital bank. KKO is deploying Pannovate’s front-end solutions Launchpad, as it aims to target young professionals in the Central American country. 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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