REPORT
BNPL has disrupted the purchase finance market.
👉Download the full report by Mambu and Deloitte here.
👀 NEWS HIGHLIGHT
Fintech Q1 2022 investments reached $32.4B globally, down 10% from the all-time high in Q3 last year, but still up 27% year on year.
👉Download the full Dealroom.co report here.
😎 SPONSORED CONTENT
Mercuryo introduced fiat IBAN accounts for crypto platforms. Issue European banking accounts for your customers and boost your business revenues, while we will take care of compliance, liquidity, and licensing.
👉See IBANs in action here.
📊 INFOGRAPHIC
Regulatory Headwinds for BNPL.
👉 Read the full Flagship Advisory Partners article by Erik Howell and Elisabeth Magnor here.
📰 ARTICLE
Despite comprising less than 1% of the $150 trillion+ B2B payments market, the commercial card space represents a huge opportunity for fintechs.
👉 Read the full Mouro Capital article here
💡INSIGHTS
The $7 trillion embedded finance and BaaS gold rush.
👉Read all about it in the article by Ron Shevlin here.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🇺🇸 NATIONAL HIGHLIGHTS
⭐️Kard raised a $23 million Series A. Link here.
⭐️ U.S. CFPB chief will testify before Senate panel around open banking. Link here.
⭐️ This week’s FinTech deal activity. Link here.
⭐️Bolt CEO addresses startup’s performance in wake of the lawsuit. Link here.
⭐️ Amazon has all the tools it needs to succeed in banking. Link here.
DIGITAL BANKING
LendingClub’s latest results showed significant growth in deposits and in activity across its core marketplace. Link here.
Step announced an exclusive partnership with Caleb McLaughlin. Link here.
Truist acquires fintech startup Long Game in effort to reach younger demographic. Link here.
Chime CEO Chris Britt will deliver the opening keynote at LendIt Fintech USA. Link here.
VC FUNDS
USV announces $625M in fresh funding for ‘both Web2 and Web3’ teams. Link here.
PAYMENTS
Rain has raised $6 million in seed funding to provide corporate credit cards for DAOs. Link here.
Ex-Chime engineers raise $4M for B2B payments infrastructure startup Streamlined. Link here.
Block Inc. is expanding its small-business loan service to Canada. Link here.
ModusBox secures $7.5 million in series funding to accelerate finance innovation. Link here.
US Senators blast Zelle over reports of widespread fraud and scams on the platform. Link here.
JustiFi announced it raised $4 million in additional financing, bringing its total seed funding raised since inception to $10.6 million. Link here.
Visa soars as cardholders spend in spite of omicron’s surge. Link here.
American Express Company announced a collaboration with Billtrust to enable suppliers to streamline acceptance of American Express virtual cards. Link here.
Zai launches money transfer service in US. Link here.
PayByCar has announced the completion of a $4 million seed round of funding. Link here.
With Kard, banks and fintechs can build custom credit card rewards programs. Link here.
Concerto gets key boost from PayPal investment. Link here.
SWIVEL™ will focus on its industry-leading transaction-enablement platform used by more than 800 financial institutions across all 50 states. Link here.
Concerto snags $21.2M to bring co-branded credit cards to more brands. Link here.
Both card-based payment processing and financial institution account-to-account payment processing have come a long way over the past decade. Link here.
BNPL
Klarna is reportedly looking at raising further funds. Link here.
CRYPTO
Crypto cards saw the launch of two new contenders: the Gemini Credit Card and the Nexo Card. Link here.
SEC hires 20 more staff to police crypto markets. Link here.
Cheq has raised $2 million in funding. Link here.
Bitso, Coinbase and Circle have launched new services between Mexico and the United States. Link here.
BLOCKCHAIN / DEFI
Jane Street dives into DeFi with $25M USDC loan. Link here.
INVESTMENT
Techstars closed a new pre-seed fund that will invest in underrepresented founders of color in the U.S. Link here.
Point closes on $115M to give homeowners a way to cash out on equity in their homes. Link here.
Robinhood is launching a feature that will allow its users to lend out their stocks. Link here.
Robinhood also Snacks podcast spins out. Link here.
MOVERS & SHAKERS
QED Investors hires Victoria Zuo to help scale early-stage team. Link here.
OPPORTUNITIES
Cash App will bring 100-plus jobs to Atlanta's former Masquerade venue. Link here.