Global FinTech | 2022 #43
Weekly news up to Tuesday, October 25th, 2022
For the past week’s funding news overview, we highly recommend reading our weekly #DoneDeal newsletter 👇
👀 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
Infographic: Breakdown of the European Fintech Landscape, 2022👇
As of Oct. 2022, there are over 3,300 active fintechs in Europe (vs. 4,200+ in the US)
👉 Read the full Flagship Advisory Partners article by Anton Zoldak and Erik Howell here.
👀 NEWS HIGHLIGHT
Klarna is introducing a search tool for comparing prices across thousands of retailers to find the best price for a product, and allowing shoppers to filter by color, size, and ratings, among other things.
👉 Read the full Forbes article here.
😎 SPONSORED CONTENT
This issue is sponsored by our friends from Mercuryo, who build an all-in-one
crypto-powered payment solution and connect people to the ease of payments
Check why companies should offer crypto as a payment solution with Mercuryo.
📰 ARTICLE
Payments industry revenue in the UAE is expected to grow to $18.7 billion by 2031, driven by the young and tech-savvy population in the Arab world’s second-largest economy, according to a new report by the Boston Consulting Group.
“The UAE continues to see robust growth in payments and FinTech activity,” Mohammad Khan, managing director and partner at BCG, said.
👉 Read the full The National news article by Sarmad Khan here.
💬 INTERVIEW
Some senior leaders at Silicon Valley fintech giant Stripe, have asked managers to start giving lower ratings on performance reviews, current and former employees say.
Forbes spoke to ten former and current Stripe employees for this story; all asked to remain anonymous. In interviews and in comments online, workers say Stripe’s recent moves have exacerbated a lack of “psychological safety” at the hard-charging private company, leaving some afraid to speak up or express dissenting opinions.
👉 Read the full Forbes article here.
💬 INTERVIEW
Future Identity Portfolio Lead Laura Camplisson sat down with Emanuele Colonnella, Innovation Activation Manager at Generali, one of Europe’s top insurance companies.
👉 Read the full Fintech Talents article here.
💡INSIGHTS
Last week, €269m was raised across 9 European FinTech deals.
Read the full BlackFin Tech article by Régis Bouyoux here.
🎤 PODCAST
A small introduction to Chris Titley from Sub11 who will be hosting the Fintech Australia podcasts moving forward :- Background in financial services for c20 years.👇
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🌎 FINTECH HIGHLIGHTS
⭐️ Fireblocks launches digital asset payments engine. Link here.
⭐️ French FinTech companies raised $65m in Q3 2022 across 22 FinTech deals. Link here.
⭐️ President Muhammadu Buhari conferred national honours on Chief Executive Officer (CEO) of Flutterwave, Olugbenga Agboola and 446 others in Abuja. Link here.
⭐️ The South African BNPL gross merchandise value is expected to reach $5 billion by 2028. Link here.
⭐️ Adyen powers the future of financial services by launching embedded financial products. Link here.
PAYMENTS
Visa has launched a pair of collaborations designed to bring its “Installments” program to more cardholders to meet a growing demand among Canadian consumers for installment offerings. Link here. Visa and Thunes expand Visa direct‘s reach to 1.5 billion digital wallets. Link here.
Checkout.com announced the next evolution in the fight against fraud with Fraud Detection Pro. Link here.
Global Processing Services and Featurespace announce new partnership. Link here.
Primer and Coinbase announced a strategic integration that allows merchants in markets across the globe to add crypto as a standard method of payment at checkout. Link here.
PPRO rolls out no-code service for payments. Link here.
MoneyHash launched its services across Africa after a successful launch in the MENA region earlier this year. Link here.
BNPL
Sun Finance launches BNPL product. Link here.
OPEN BANKING
Crowdz picks GoCardless for open banking payments. Link here.
Abymap partnered with freemium open banking provider Nordigen for direct access to customer bank accounts. Link here.
Cardstream integrates Nuapay to offer Open Banking capabilities. Link here.
Token and Computop team on open banking payments for merchants. Link here.
Mobile banking adoption in the UK is estimated to reach 93% in 2022 up 7pp from 2021. Link here.
CRYPTO
Ethereum launches testnet and Google partnership with Coinbase. Link here.
Plaid is releasing its first crypto-native product called “Wallet Onboard”. Link here.
BLOCKCHAIN / DEFI
Tribal Credit is piloting Boomerang Rewards, the first blockchain-powered rewards program for emerging market enterprises Link here.
INVESTMENT
Zimpler partners with Primer to allow no-code A2A integration with merchants. Link here.
GREEN FINANCE
ecolytiq enters North America with Vancity deal. Link here.
INSURTECH
Amazon is launching an online home insurance comparison service in the U.K. Link here.
FRAUD PREVENTION
GoCardless launched Protect+, an end-to-end fraud prevention solution that detects fraudulent activity and protects merchants from potential losses through enhanced payer verification. Link here.
MOVERS & SHAKERS
Flutterwave announced the appointment of Marshall Lux, former JP Morgan Chase Chief Risk Officer of all consumer products as Senior Advisor. 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.