Staying on the beat – 23-29 August 2021.
From Startups to Funding
Elopage, Europe’s fastest-growing SaaS platform and payment provider for digital entrepreneurs, creators, SMEs and enterprise businesses, announced the successful completion of its funding round of $38 million (€32 million) to empower digital businesses at all stages of growth.
Fast-growing corporate credit card startup Ramp more than doubled its $1.6 billion valuation in April to $3.9 billion off the back of a $300 million Series C funding round led by billionaire Peter Thiel’s Founders Fund.
UK-based cross-border mobile payments firm WorldRemit has raised $292 million in primary financing at a $5 billion valuation and changed its name to Zepz. The funding will be invested in the firm’s technology, platform and customer proposition as it builds on its 11 million users across 150 countries.
Los Angeles-based digital bank Aspiration Partners has landed a deal to become the first publicly traded fintech firm focused primarily on socially responsible spending, saving and investing. Just highlighting the explosive growth of both fintech and sustainable investing!
The White House announced that Google had committed to invest $10 billion in cybersecurity over the next five years, money aimed at helping secure the software supply chain and expand zero-trust programs.
From the impact of Environment, Social and Corporate Governance (ESG), to the creation of fintech startups that are all about bringing about positive, ethical change, both consumers and service providers are making their way into a new, socially conscious future.
Fintech regulatory “sandboxes” that allow new products and services to be tested in a controlled environment and in a limited scope can also help balance regulators’ concerns with the inherent riskiness of innovations. While the private sector should be left mostly unshackled to do the heavy lifting, governments have an indispensable role in securing the benefits and managing the risks.
Citigroup is reportedly awaiting regulatory approval to start offering bitcoin futures trading to its clients. “We are presently considering products such as futures for some of our institutional clients, as these operate under strong regulatory frameworks,” said Citigroup.
Similar to the infrastructure bill that brought a great deal of attention to Washington D.C. on the regulatory oversight of crypto, the 117th Congress now has seen 18 bills that have been introduced that directly impact cryptocurrencies, blockchain technology, or central bank digital currencies.
More from PCN:
The latest episode of In Check with Fintech.
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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