THIS WEEK’S DIGITAL BANKING FUNDING NEWS
Clear Street closes $165 million Series B. Link here.
Pebble, the provider of a financial app that allows users to save, spend, and receive money, raised USD6.2M in funding. Link here.
Spriggy has extended its latest funding round, raising an extra $10 million in capital to enable it to invest in more financial products for families, without having to focus on raising funds again for years. Link here.
💡And much more in our #DoneDeal Weekly Newsletter. Link here
REPORT
Amount’s national research study of Buy Now Pay Later power users disproves the stereotypical credit-averse and credit-light consumer descriptions.
👉Download the full report here.
👀 NEWS HIGHLIGHT
Haven Life and Kinly are announcing a new partnership to make term life insurance more accessible to Black Americans.
Through this partnership, Haven Term and Haven Simple term life insurance products will be available on the Kinly mobile application for its members.
👉Read the full article here.
😎 SPONSORED CONTENT
This newsletter is sponsored by our friends Mercuryo – a global payment network. The company focuses on crypto payment processing, and its services are used by 250+ industry leaders, including Trust Wallet, Bybit, and 1inch.
👉Make a tangible change in the world of payments together with Mercuryo.
📰 ARTICLE
Things have been pretty quiet since January’s announcement that “Hazel”, the Walmart- and Ribbit-backed fintech startup, would acquire neobank ONE Finance and earned wage access platform Even.
Read the full story in Jason Mikula's newsletter👇
👨💻 BLOG
Convincing your CFO: Reasons to use an expense management platform.
Employees are the most valuable asset to an organization. But are they always driving the business forward in their work? Or are they busy completing arduous processes, like paper-based expense management?
👉Read the full Payhawk blog here.
💡INSIGHTS
2021 was a year of great progress for Open Banking across the EU and UK.
The regions witnessed strong growth both in the volume of API calls and the number of third-party providers (TPPs).
👉Read the full article here.
🎤 PODCAST
The WorkTech Roundtable podcast focuses on the trends and issues redefining today’s workforce.
In this episode of WorkTech Roundtable, Nico Simko, Founder & CEO at Clair, and Will Hicklen, Chief Growth Officer at EasyWorkforce share their perspectives on FinTech, On-Demand Pay, and how employees & employers benefit from the inclusion of future WorkTech.
Listen to the full episode bellow 👇.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🇺🇸 NATIONAL HIGHLIGHTS
⭐️Leaders at the regulator have concluded that a much-hyped “compliance assistance sandbox” and related programs were ineffective. Link here.
⭐️Constrafor grabs $106M in equity, and credit to finance construction subcontractors. Link here.
⭐️Square is working with Apple to enable Tap to Pay on iPhones using new technology that gives sellers more flexibility at checkout. Link here.
⭐️Stage, the monetization platform for SaaS teams, raises a $5.1 million seed round. Link here.
⭐️Grow your business with Payhawk: How five scaleup customers took control of spend to drive growth. Link here.
😇 Do you want to have access to the best deal flow in FinTech? And/or do you want to invest alongside me and 1000+ other FinTech Angel investors?
👉 Join my Angel Investors Syndicate!
DIGITAL BANKING
Varo Bank could run out of funds by year-end, filing shows. Link here.
Sanlo raises $10M in Series A funding led by Konvoy. Link here.
KeyBank announced the release of its end-to-end payment facilitation capabilities, allowing software companies to easily own and process payments. Link here.
Dave launches cash back rewards to all Dave spending members. Link here.
Capital One enters B2B software industry with launch of new business. Link here.
PAYMENTS
Tandym launched backed by $60 million in venture capital funding. Link here.
Marqeta announces a partnership with Klarna to build Klarna Card, a transparent alternative to traditional credit cards. Link here.
Glory invests in Clip Money to provide improved deposit services. Link here.
Hank Payments Corp. announced it has entered into a strategic partnership agreement with Fair Fintech Inc. Link here.
Hourly.io banks $27M for its new approach to providing workers’ comp and payroll for hourly wage workers. Link here.
Firstbase announced a partnership with Wise, to add instant cross-border payments. Link here.
PayPal gets its full New York BitLicense, and now lets users transfer crypto to external wallets. Link here.
BNPL
The Klarna Card is now available to US consumers and comes amid Klarna's rapid growth in the US, which continues to be Klarna's fastest-growing key market by volume. Link here.
Apple has introduced Apple Pay Later, a new feature backed into the company's payment platform that will allow users to split purchases into separate payments. Link here.
CRYPTO
Gemini Trust Co told staff of plans to slash the company’s workforce by 10% as trading across the industry slumps. Link here.
The Commodity Futures Trading Commission has sued Gemini Trust accusing the crypto exchange of false statements relating to the self-certification of a bitcoin futures product. Link here.
Bitstamp launches earn products in the United States. Link here.
BLOCKCHAIN / DEFI
Masa Finance announced it is partnering with African financial data company Pngme to drive the adoption of DeFi credit services in the region. Link here.
INVESTMENT
Wizest has closed a $1.7 million seed investment round. Link here.
Knock closes $220 million capital raise; adds new board members. Link here.
Fruitful emerges from stealth with $33M in funding and an app that aims to fuel healthy financial habits. Link here.
FRAUD PREVENTION
In the past five years, SEON has grown from a two-person company to a team of more than 200 employees with more than $100 million in venture capital. Link here.
MOVERS & SHAKERS
Brim Financial has appointed Arthur Zhao as its chief financial officer. Link here.
Moca appoints former Visa exec Shawn Sinner as president and chief revenue officer. Link here.
Knock announced the closing of its previously announced $220 million funding round. Ian Sigalow, Co-Founder and Managing Partner of Greycroft, and David Garland, Managing Partner of Second Century Ventures, the venture capital arm of the National Association of Realtors. Link here.
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.