Staying on the beat – July 26 – August 2 2021
From Startups to Funding
Prime Trust, a one-stop shop for API-based financial infrastructure for fintech and digital asset innovators, has raised $64 million in a Series A funding round led by Mercato Partners.
Cross-border B2B payments operator Nium has joined the unicorn club after raising $200 million in a Series D funding round led by Riverwood Capital
Temasek, Visa, Vertex Ventures, Atinum Group of Funds, Beacon Venture Capital, Rocket Capital Investment, and angels, including DoorDash executive Gokul Rajaram joined the round for Singapore-based Nium.
The South African payments and software platform has secured Series C funding amid a surge in demand for digital payments amongst African small businesses.
Claimed as the largest single investment raised by a payments company in South Africa, the round brings the total funds raised by Yoco to $107 million.
Airtel Africa’s mobile money business has received its third big investment of the year, scooping up $200 million from an affiliate of Qatar’s sovereign wealth fund.
Qatar Holding invests in Airtel Mobile Commerce (AMC), the holding company for several of Airtel Africa’s mobile money operations, at a $2.65 billion valuation.
Chilean startup Xepelin, which has created a financial services platform for SMEs in Latin America, has secured $30 million in equity and $200 million in credit facilities.
Customers can join the round on Wefunder, a crowdfunding platform, and then commit to a check size they are comfortable with, which could be as little as $100, the post stated. Once the Wefunder campaign closes, users can confirm their interest and invest with a click.
Amazon has been issued with a fine by the European Union for breaching the bloc’s data protection laws. The fine, disclosed by Amazon on Friday in a securities filing, was issued two weeks ago by Luxembourg’s privacy regulator.
The European Central Bank (ECB) has decided to pursue ambitious plans to establish a Digital Euro, at a time in which global jurisdictions seek to make the most of the rapid digitalisation of payments. ECB announced that as of October, it would move into the two-year ‘investigation phase’ of its Digital Euro project, predominantly focusing on the currency’s design and distribution methods to merchants and citizens alike.
Do you want to find out more about the digital euro and the European Payments Initiative? Listen to our podcast series on the topic in collaboration with Netcetera and Giesecke + Devrient.
The Central Bank of Ireland Governor Gabriel Makhlouf said that although the eurozone has yet to decide on a central bank digital currency, the development is “very likely” to happen. “In my view, it’s not a question of if but rather how and when”.
During the pandemic, financial institutions have been accelerating spending on regulatory technology, a survey of almost 40 organisations conducted by ClauseMatch has found.
More from PCN:
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The world of financial services is watching the shift to open data closely, as technological, regulatory, and competitive forces facilitate easier and safer sharing of financial data. Although in many markets “open finance” is still in its infancy, the innovations it enables promise to reshape financial services as we have known them, touching everything from the way large companies do business to retail, small and midsize enterprises, and all aspects of personal finance and households, including mortgages and insurance
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