Daily Fintech Newsletter | Mar. 19th
Hi!
In case you missed it, please see below today's most relevant fintech news.
Corporate executives are talking more than ever about “buy now pay later”—the slick digital lending that is a hit with Gen Z and millennial shoppers. The question is whether it will disrupt the $8 trillion credit card industry and whether these loans will encourage a new generation to borrow more than they can afford. The phrase “buy now pay later” seldom came up in public discussions with execs until last year. Link here.
Zeller, an early-stage fintech start-up founded by the former local boss of Jack Dorsey’s payments technology company Square, has banked a $25 million funding round led by a top Silicon Valley investor before it has even launched its new product. Link here.
Chinese investment giant Tencent has suffered a two-day decline in share prices worth $65 billion as investors worry the firm is the next target of regulatory scrutiny. Link here.
London-based payment provider SumUp has scooped a €750m debt facility from both new and existing investors. SumUp’s fundraise was oversubscribed and saw participation from Goldman Sachs, Temasek, which has invested in fellow payment providers Adyen, Visa, PayPal and Mastercard, Bain Capital Credit, Crestline Investors, Inc. and Oaktree Capital Management, L.P. Link here.
Estonian financial services firm LHV is to invest £4.45 million in B-North, the Manchester-based firm building a regional SME lending bank for the UK. The investment from LHV adds to B-North’s growing list of backers, including Greater Manchester Combined Authority and Channel 4 Ventures, as well as a series of successful crowdfunding rounds. Link here.
The Equals Group chose the TruNarrative platform to help drive operational efficiency and facilitate smooth customer experiences across their range of services. Link here.
In 2020, e-commerce in the Netherlands amounted to €26,6 billion which is 7% more than in 2019 Ecommerce News has found. The rise in online shopping by Dutch consumers is directly linked to the COVID-19 outbreak. 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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