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What is Really New in Fintech
The financial industry is undergoing rapid technological change. Traditional banks face competition from online start-ups with no physical branches. Social media and other digital platforms are expanding into payments and credit. The increase in demand for digital services triggered by COVID-19 is turbo-charging this transformation. The confluence we are witnessing is driving fintech innovation and […]
French fintech company Lydia lands additional $86 million from Accel, closing Series B at $131 million
French financial services platform Lydia has announced a whopping extension of its Series B round, raising an additional $86 million led by Accel. The round now rests at $131 million, which it claims is the largest round ever raised by a French fintech startup. All other major existing shareholders participated, too. Amit Jhawar, the former General Manager of Venmo […]
ABN Amro tops up fintech venture fund
ABN Amro is turbo-charging its fintech investment strategy, injecting a further €50 million into its €100 million corporate venture fund. Since the fund was first launched, ABN Amro Ventures has invested in a total of fifteen companies – including the likes of Tink, Privitar and Trifacta – with one successful exit already completed. Six new […]
Alphabet-backed fintech GoCardless nears $1 billion valuation amid digital payments boom
LONDON — British financial technology start-up GoCardless is one step closer to reaching a $1 billion valuation thanks to accelerated demand for digital payments during the coronavirus pandemic. GoCardless said Thursday that it had raised $95 million in a fresh investment round led by the venture capital arm of Bain Capital. The new funding values […]
COVID-19 Has Put Many British Businesses On Life Support Systems – Can Fintech Help Save U.K. SMEs?
Half of U.K. adults with debts have mental health issues and one in four people with a mental health problem are also in debt. The relationship is cyclical and much of it boils down to a sense of feeling in control of your money, of being financially resilient and capable. According to Martin Lewis’ Money and […]
From Open Banking to contactless payments, what will shape the fintech industry in 2021?
2020 has been dramatic to say the least. In the fintech industry there has been a monumental shift towards digital payments. The mix of shop closures, lockdown measures and the booming ecommerce sector have made fintech products more relevant, and more important, than ever. And businesses have relied on fintech and payments solutions to facilitate […]
Collaboration Is The New Competition In FinTech
Nearly every industry had to pivot, in multiple ways, to adapt to the challenges brought on by 2020. FinTech has been one of the most impacted, with people working, shopping, and banking from home due to social distancing. Although partially sprung from Covid, the trends in online banking, lending, and digital and contactless payments will […]
Cleo raises $44m for money management bot
After closing a $44 million funding round, British AI-based personal finance chatbot Cleo is turning the tables on its users and asking them how it should spend its money. EQT Ventures led the round, with participation from existing investors, including Balderton Capital, LocalGlobe and SBI. Launched in 2016, London-based Cleo integrates with users’ bank accounts […]
Swedish fintech startup Tink raises €85 million to strengthen its position as Europe’s leading open banking platform
Tink, a pioneering open banking platform from Sweden just secured €85 million of additional funding, led by Eurazeo Growth. This brings the total investment in Tink during 2020 to €175 million (€90 million were raised in January of this year). Founded in 2012 in Stockholm, Tink already counts more than 350 employees and is currently serving its […]
Economic Crises Point to Accelerated Innovation for Banks, Covid-19 is no Different
No-one could have expected the unprecedented year that we have had, and the coronavirus pandemic has taken its toll on industries all over the world, including banking and financial services. Though the outlook on the economy is still uncertain as we navigate through this period, looking back shows that innovation is always rife during crises, […]