Global FinTech | 2022 #31
Weekly news up to Tuesday, August 2nd, 2022
So here’s what you need to know about this month’s European FinTech Funding rounds👇
👀 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
Number of fintechs, amount raised, average size deal, sectors represented, top 3 deals: discover the main data to learn more about fintechs and insurtechs in Spain.
👉Read the FinTech Ecosystem reports from Spain here.
👀 NEWS HIGHLIGHT
Mercuryo selected by iToken for crypto wallet purchases.
Furthering accessibility and ease of access to the DeFi world, this partnership enables iToken users to quickly and securely use their preferred and local payment methods to purchase over 20 different cryptocurrencies.
👉Read the full article here.
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📰 ARTICLE
New data released by Innovate Finance, the industry body representing the fintech community in the UK, has revealed that the country saw a 24% year-on-year increase in fintech investments in the first half of 2022, despite a global slowdown in funding.
UK-based fintech firms received $9.1 billion in investment spread across 294 deals compared to $7.3 billion across 375 deals in the first half of 2021.
The total capital invested in fintech globally hit $59 billion in H1 2022 – flat year-on-year compared to 2021.
👉Read the full Fintech Futures article here.
👨💻 BLOG
Blockchain, web3 and crypto-focused businesses in Africa have a number of unique requirements necessary to provide their core services – from verifying user identity, to protecting users against fraud, to enabling fast and secure movement of funds into and out of their ecosystem.
👉Read the full blog article here.
👨💻 BLOG
Engineering culture: what’s it like to be a Data Scientist at Belvo
Making the most out of Open Finance data is our priority at Belvo, and we count on the work of our Data Scientists to do so.
👉Read María Ribalta's full experience as Data Science Associate at Belvo and what to expect working with them here.
💬 INTERVIEW
Sho Sugihara. CEO of Pave, believes the fintech industry can be a force for good by helping underserved people boost their credit scores. And he's not alone.
👉Read the full Private Banker International interview here.
💡INSIGHTS
Top Indian fintechs like Pine Labs, Credgenics, Vayana Network, Mswipe, Infibeam Avenues, and Razorpay are looking to replicate their business models in the SEA market, with similar but yet different strategies.
👉Read the full article here.
🧐 ANALYSIS
North America is seeing a hiring boom in private banking industry fintech roles.
Find which countries are seeing the most growth for fintech job ads in the private banking industry in a very interesting article from Private banking International through the link in the comments below.
👉Read the full Private Banker International article here.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🌎 FINTECH HIGHLIGHTS
⭐️Prime Time for Real-Time Global Payments Report. Link here.
⭐️ Jack Ma to give up control of fintech giant Ant Group: WSJ. Link here.
⭐️ Fourthline announces it has partnered with Provenir. Link here.
⭐️ Saison Capital will be introducing to its portfolio companies a new insights program in collaboration with Stripe. Link here.
⭐️UK fintech investment defies the global downturn with 24% growth. Link here.
⭐️Clearco has laid off 125 employees – 25 percent of its current staff. Link here.
PAYMENTS
VibePay files cease and desist against Rakuten’ s Viber Pay trademark in Europe. Link here.
Cardless has raised about $50 million in venture funding. Link here.
Monite has partnered with Codat, to make it faster and easier to integrate accounts payable and accounts receivable capabilities into existing apps. Link here.
GoCardless launches Variable Recurring Payments as start-up Pillar chooses its offering to make credit scoring borderless and inclusive. Link here.
Viber launches Payments, a new digital wallet for paying bills, money transfers and buying goods. Link here. Rapyd selected as Rakuten Viber's first official payments provider to launch Viber Pay. Link here.
Minka looks for partners in Africa to ‘Replicate’ LATAM payments success. Link here.
BNPL
Paymongo taps Atome Philippines to expand its reach of Buy Now Pay Later services. Link here.
CIMB Bank has partnered with platform Fave to offer BNPL services to its customers. Link here.
Klarna Kosma is helping Airbank as it looks to international expansion as well as providing revenue diversification for the BNPL giant. Link here.
Razer Merchant Services, the B2B arm of Razer Fintech, has partnered with Atome to enable flexible deferred payment acceptance during checkout for its online and offline merchants. Link here.
SellersFunding has launched B2B BNPL to their financial solutions suite. Link here.
Sezzle founder and chief executive Charlie Youakim says the US-based buy now, pay later business is better off without axed merger partner Zip Co, as it aims to turn profitable in its own right by the end of this year. Link here.
BNPL has been a “lifeline” for 58 per cent of service users, according to new Credit Karma research, and 52 per cent of existing BNPL customers have upped the amount they are borrowing. Link here.
CRYPTO
The Coinbase Institute is out with a new paper on stablecoins. Link here.
Zipmex becomes latest crypto market victim, files for bankruptcy protection in Singapore. Link here.
Luno announced its partnership with payments provider FIS for its Worldpay Merchant Solutions capabilities to enhance payment options on its app. Link here.
Coinpanion has announced partnering with payment service provider Checkout.com to handle its payment processes. Link here.
Gemini, has connected with Plaid, to provide UK customers with the option to buy cryptocurrency through their bank accounts. Link here.
The Monetary Authority of Singapore granted Digital Treasures Center its Major Payment Institution licence to offer Digital Payment Token services in Singapore. Link here.
BLOCKCHAIN / DEFI
Binance has announced a pilot of its new NFT ticketing solution with S.S. Lazio for the 2022/23 season. Link here.
INVESTMENT
Moonfare lands in the United Arab Emirates, taking its total coverage now to 25 countries. Link here.
Chip launches alternative asset investments as it acquires Koia’s customer base. Link here.
Freetrade is postponing its plans to offer securities lending. Link here.
GREEN FINANCE
Fairown announced the launch of its platform in Poland, marking the formal expansion into Central Europe. Link here.
FRAUD PREVENTION
Onfido announced its partnership with YesWeHack. Link here.
MOVERS & SHAKERS
Wise announced the addition of Isabel Naidoo as Chief People Officer. Link here.
Mollie has hired Michaela LeBlanc Weber its new VP of partnerships. Link here.
The Fintech Association of South Africa (Finasa) was officially launched on Friday, 22 July. Link here.