Staying on the beat – July 20 – July 26 2021
From Startups to Funding
With 2021’s halfway point just crossed – funding has more than doubled the $4.4 billion in 2020 to $7.8 billion 2021.
Why the influx? Reasoning may be linked to the SolarWinds, Colonial Pipeline, and Kaseya attacks. As connected services expand, so should the security, architecture thereof, and global standards.
London-based Open Banking infrastructure supplier Yapily has completed a $51 million Series B funding round, taking its total investment funding to date to $69 million.
European business expense management platform Soldo has closed a $180m oversubscribed Series C funding round.
The US startup helps company founders access non-dilutive capital, and has raised $280 million in debt and equity financing to support the launch of a BNPL product that lets users split large business expenses over time.
Launched in the UK in March 2021, Zip is one of the fastest-growing Buy Now Pay Later lenders in the world, partnering in the UK with several brands including Homebase, boohoo, Fashion Nova, and The Hut Group to deliver fairer more flexible credit to consumers.
Mollie, the payment service provider in Europe, announced opening a development hub in Lisbon, Portugal. Forming part of its plans to increase its product development velocity dramatically. The news comes just weeks after Mollie’s Series C round, in which it raised 665 million Euro, valuing the company at 5.4 billion Euro.
By accepting safe, easy, touch-free payments, the system will promote the use of public transport in the city of Porto, enabling more environmentally sustainable mobility, and supporting the return to ‘business as usual’ after the pandemic.
Bitcoin surged Sunday evening, topping $39,000 for the first time since mid-June as sentiment turned bullish following a recent sell-off.
Bitcoin’s rally lifted other cryptocurrencies with ether up 5.9% above $2,299.55. The entire cryptocurrency market added over $114 billion in value in 24 hours as of 11:05 p.m. ET, according to data from Coinmarketcap.com.
Cryptocurrency exchanges could be forced to collect the details of people sending and receiving crypto under new rules proposed by the European Commission.
The EU’s executive branch announced the potential change on Tuesday as part of a package of reforms to tackle financial crime within the bloc.
“This package aims to improve the detection of suspicious transactions and activities, and close loopholes used by criminals to launder illicit proceeds or finance terrorist activities through the financial system,” the Commission said in a statement.
The new law would establish a new EU-wide anti-money laundering authority (AMLA) with oversight of cryptocurrencies by 2023.
More from PCN:
We are back with another episode of In Check with Fintech!
This week, we’re joined by Kleber Bacilli, CEO at Sensedia and Associate Professor at the University of Campinas. We cover Sensedia and its inception story, how it took root in Kleber’s love of Formula 1, the journey to becoming one of the best open banking solution providers, and key takeaways from 18 years of industry experience. Enjoy listening!
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