Staying on the beat – 17-23 August 2021.
From Startups to Funding
The Crypto trading platform boasts a 6x customer growth year-over-year. Simultaneously, the company said that revenues will increase sevenfold in 2021 compared with the previous year.
Plaid just announced Series D funding looking “to support the massive growth in fintech, we’ll be accelerating our investments in building products that enable an open, easy to use, and secure financial services ecosystem”
Chime raises $750m at $25bn valuation
Founded in 2013, Chime offers a fee-free, user-friendly banking app, which provides an accompanying debit card – on which the business earns interchange revenue – and an auto-savings account.
UK fintech investment hits new record after £18bn buying spree
Britain’s investment in the financial technology industry has hit a new record, with almost £18bn worth of deals in the first half of this year, placing the UK second in the world behind the US.
A provider of API-based brokerage technology that enables partners to offer real-time access to the US equities market through fractional share trading has closed a Series D funding round at a $2.85 billion valuation.
Big Beats
US-based digital payments software provider ACI Worldwide has announced a collaboration with PayPal to bring digital wallet payment options to ACI’s biller clients.
Robinhood says dogecoin accounted for 62% of crypto revenue in Q2
Robinhood said crypto accounted for more than half of all transaction-based sales in the second quarter, and 62% of crypto revenue came from dogecoin, a meme-inspired digital coin originally started as a joke.
What the heck is Dogecoin? PCN covered the wow here
Now ready for launch tied to the Diem blockchain-based payment system – Novi has secured licenses or approvals in nearly every US state.
Paysafe Acquires Germany’s viafintech, Boosts Its Alternative Banking, Payment Solutions
According to a press release, specialised payments platform Paysafe will be acquiring Germany-based viafintech, which offers the biggest bank-independent payments structure in the DACH region (Austria, Germany and Swizerland).
By acquiring viafintech, Paysafe will gain the ability to grow more in Germany and create more revenue-generating opportunities, being able to cross-sell viafintech’s products for alternative banking solutions to merchants globally, according to the release.
Socially conscious fintech Aspiration to go public via $2.3bn Spac merger
The socially conscious US neobank focused on helping customers go green is set to go public in a $2.3 billion merger with a special purpose acquisition company.
The company offers a host of banking services, credit cards, and investment products that help customers keep their deposits out of fossil fuels, automatically plant trees with every card purchase, and track business and personal ‘Planet & People’ impact scores so they can shop with a conscience.
Regulatory
The UK-based neobank has just received a UK banking license with restrictions from the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). Kroo recently secured a £17.7M investment, taking total funding raised to over £30M.
Useful Reports:
Global Insurance Distribution – Mckinsey
Four insurance executives from around the globe weigh in on how distribution is changing, both in the wake of the pandemic and more broadly as customer and agent needs and expectations evolve.
More from PCN:
The latest episode of In Check with Fintech.
Dr. Eric Cole, CEO of Secure Anchor Security Consulting
We are back with In Check with Fintech! In this week’s episode, we sit down with Dr Eric Cole, who has done consulting work for McAfee and Lockheed Martin and was a cybersecurity commissioner in the Obama Administration – for whom he continues to provide security advice to this day. We talk to him about becoming a CIA Hacker, cyber attacks and how to protect yourself from them. Enjoy listening!
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