Daily Fintech Newsletter | Mar. 5th
Which European fintechs topped the 2020 download chart?
Hi!
In case you missed it, please see below today's most relevant fintech news.
🥇Sifted asked AppAnnie to figure out which European fintechs topped the 2020 download chart. The results highlighted one dominated player: Paypal✨.
Paypal leads the charts in Estonia, France, Germany, and the UK. In Sweden, it is listed third. How did a US giant grow faster than Europe’s star fintechs? Paypal says the over 50s were its fastest-growing segment in early 2020, the dramatic uptick in users was due to the lockdown. As Sifted pointed out, Paypal’s plan to become a Super App and the plethora of services it aims to provide: “would be a direct threat to the big players.” 👉 Read more here.
🔥PayPal CEO Reveals Plans for New Crypto Unit. Link here.
🪙PayPal has been seeking to expand cryptocurrency offerings after the payments giant began providing customers the ability to buy, sell and hold certain digital currencies in its wallet. The firm plans to add those capabilities to its Venmo wallet in the coming months. Link here.
💰Kenyan e-commerce start-up, Powered by People (PBP), has raised $1.5 million in seed funding to expand its team and grow its fintech platform for local retailers. Link here.
💰Cameroonian fintech start-up, DioolLabs, has raised $3.5 million to scale its operations. Link here.
💰Financial API provider Codat has received new strategic investments from PayPal Ventures and American Express Ventures, as it formally launches its U.S. operations. Link here.
🤝FreshBooks, a leading accounting software available in over 160 countries, joined forces with Salt Edge, a pioneer in developing open banking solutions, to help their growing EU client base in managing business finance processes easier. Link here.
🤝Aon plc, a leading global professional services firm providing a broad range of risk, retirement, and health solutions, announced a first-of-its-kind offering to secure capital through a collaboration with Nayms, an insurtech platform that supports cryptocurrency investors in insuring crypto-risk. Link here.
🤝 Paysend announced a strategic partnership with Mastercard starting in the UK and EEA, which will be mutually beneficial as it will boost Paysend’s global reach and enhance both businesses’ customer base. Link here.
💫Lithuanian payments startup kevin. has released a product for merchants that switches customers from card payments to account-to-account (A2A) payments at the checkout. Link here.
💫Hot off the back of a mammoth $1bn raise, Klarna has expanded its open banking offering into eight new countries. Link here.
🎉2020 was the most active year ever for private FinTech company financings with nearly 1,990 transactions. 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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