Global FinTech | 2022 #27
Weekly news up to Tuesday, July 5th, 2022
THIS WEEK’S FUNDING NEWS OVERVIEW
👀 Are you interested in funding news from the FinTech space?
💡 Read all about it in my weekly overview article and get the latest funding news from the global FinTech space in your inbox every week.
REPORT
Buy now pay later (BNPL) has become an important part of consumers’ purchase decisions and payment behaviour, and the industry has reached a critical stage of development.
👉Read the full report by Francesco Burelli, Steven Jacob, and Oliver Leimbach here.
👀 NEWS HIGHLIGHT
Deel has partnered with the UAE government to speed up the visa process for foreign workers as the country aims to attract international talent.
👉Read the full article here.
🎤 PODCAST
📰 ARTICLE
Australians are double-spending through buy now, pay later services, to $11.9bn.
According to research released exclusively to ABC's 7.30 — which was carried out by RFI Global for the Australian Finance Industry Association — 38 percent of 1,746 people surveyed had used one of the buy now, pay later (BNPL) services, and the platforms reported 5.9 million active accounts.
👉Read the full article here.
👨💻 BLOG
Fintech: The Foundation of Emerging Markets.
People need access to financial services –– wherever they are based –– to develop their businesses and plan for the general ups and downs of life.
👉Read the full blog here.
💡INSIGHTS
Last week, €370 Million was raised across 15 FinTech deals.
Congratulations to Lichtenstein and their champion Unizen on their €190m venture round, followed by Kaiko and their €50 Series B round and Zilch raising a €47m Series C extension.
👉Read the full article here.
👀Are you interested in funding news from the FinTech space?
Read all about it in my weekly overview article and get the latest funding news from the global FinTech space in your inbox every week!
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🌎 FINTECH HIGHLIGHTS
⭐️TPAY MOBILE, has announced that Gaston Aussems, previously CEO of Mollie, will take the reins as CEO. Link here.
⭐️ Xi signals a fresh start for the fintech industry. Link here.
⭐️ Mastercard and Paysafe deepen global collaboration with the integration of Mastercard Send. Link here.
⭐️ iDenfy, joined forces with Juni, the financial management platform made for ecommerce. Link here.
PAYMENTS
Unlimint is to become messaging app Telegram’s official payment provider. Link here.
KongaPay has signed a deal with Bibimoney to expand access to financial inclusion in Nigeria. Link here.
ImageNPay has announced that its digital wallet is now available on Google Pay, offering consumers the ability to personalise a digital prepaid Mastercard with images and dynamic content. Link here.
Stitch launches Stitch Payouts in South Africa. Link here.
allpay are delighted to announce the launch of their Confirmation of Payee solution. Built inhouse, the technology will allow the Hereford based payment service provider’s 16,000 Banking Lite cardholders to benefit from the Open Banking ecosystem. Link here.
Qatar National Bank has become the first bank in Qatar to launch mobile payment services WeChat Pay and AliPay+. Link here.
BNPL
Saudi BNPL platform Tamara expands to UAE. Link here.
Veriff announced its partnership with Twisto, the BNPL platform. Link here.
Amazon has collaborated with vaIU, to launch affordable bnpl payment options for Amazon Egypt. Link here.
CRYPTO
The JPG NFT Index is down by about 70% since its April launch. Link here.
Coinbase is seeking licenses in European countries and stepping up its presence in the continent after cutting almost a fifth of its staff. Link here.
Three Arrows Capital has defaulted on a loan worth more than $670 million. Link here.
CoinMENA announced that it has joined Visa’s Fintech Fast Track program, speeding up the process of integrating with Visa. Link here.
Binance pursues an aggressive expansion plan in Southeast Asia. Link here.
Wirex is offering highly competitive interest rates and no origination fee for crypto-backed loans. Users can easily borrow up to $100,000 in stablecoins, with a loan to value (LTV) of up to 80% within the Wirex app. Link here.
INVESTMENT
EToro is joining other tech and media companies that have backed off SPAC deals that would take them public amid a tech stock sell-off. Link here.
Listed fintech fund Augmentum Fintech has reduced new investment into fintech companies over the past year from £44.4m to £16.4m. Link here.
MOVERS & SHAKERS
Global Processing Services has announced the promotion of Joanne Dewar to Vice-Chair. Kevin Schultz has also been appointed as Chief Executive Officer, effective immediately. Link here.
OPPORTUNITIES
Money Jar is planning to create 100 jobs over the next two years. Link here.
FINTECH MAPS
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.