THIS WEEK’S FUNDING NEWS OVERVIEW
For the past week’s funding news overview, we recommend reading our weekly #DoneDeal newsletter 👇
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👀 NEWS HIGHLIGHT
Klarna has allied with fintech firm CellPay to provide consumers with new payment options.
As part of the tie-up, CellPay will offer Klarna’s interest-free ‘Pay in 4’ option to consumers in the US who are buying its prepaid cell phone minutes.
👉 Read the full Electronic Payments International article here
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📰 ARTICLE
The Treasury Department warned that unregulated cryptocurrencies could pose a risk to the U.S. financial system.
👉 Read the full CNBC article here.
💬 INTERVIEW
Scout - this new app is helping Gen Z invest in cars, food, video games, and other ‘themes’ Scout invites people to invest for as little as $1 per month.
Michael Haddix Jr. is a former college basketball player who was pre-med until he discovered investing after finishing his undergrad studies.
After being exposed to it, Haddix says he got “really excited” about investing and went on to get an MBA from Columbia Business School so that he could work in the field.
👉 Read the full Techcrunch article by Mary Ann Azevedo here.
👨💻 BLOG
Uber partners with Marqeta, Mastercard, and Branch to launch new Uber Pro Card, offering faster payments and fuel rewards for drivers.
👉 Read the full Marqeta blog article here.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🇺🇸 NATIONAL HIGHLIGHTS
⭐️Afterpay introduced a new payment solution that give consumers even more choice, flexibility and time to pay, with transparent terms to support responsible spending. Link here.
⭐️Stash which last raised $125 million from investors in a Series G round last year, is adding crypto to the set of products it offers its 2 million users. Link here.
⭐️Mastercard announced it is bringing added value to U.S. small business cardholders with new and expanded benefits, with a focus on convenience, efficiency, and cyber security, to directly address some of their most pressing wants and needs. Link here.
⭐️Monnai raises a $3.15 million seed round to create the first global consumer insight infrastructure. Link here.
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DIGITAL BANKING
A new all-in-one banking app, Dexy, is set to launch soon in the US. Dexy aims to help underbanked customers in emerging markets by providing access to US dollars (USD) and cryptocurrencies. Link here.
PAYMENTS
Billtrust has been sold to the investment organization EQT in an all-cash transaction that values Billtrust’s equity at approximately $1.7 billion. Link here.
Speedchain and Mastercard partner modernise commercial debit and credit payments. Link here.
Zelle is under fire for how it handles fraud and scams that have exploded on the platform in recent years. Link here.
Tally raised $80 million in a Series D funding round led by Sway Ventures with participation from Menora Mivtachim. Link here.
Corserv implemented a comprehensive credit card program with Studio Bank to provide innovative payment solutions. Link here.
Zil Money Corporation announces it has crossed the threshold of helping over 500,000 customers to date, as they continue to out match the competition. Link here.
CRYPTO
Eight states filed enforcement actions against the crypto-lending platform Nexo. Link here.
Juno raised $18M in Series A funding. The company intends to use the funds to accelerate growth and expand operations. Link here.
Celebrity Kim Kardashian has been slapped with a $1.26 million charge by the Securities and Exchange Commission for touting a crypto asset security without disclosing the $250,000 pay out she got for the promotion. Link here.
BLOCKCHAIN / DEFI
Cryptyde, Inc. closed the acquisition of Forever 8 Fund, LLC, an e-commerce fintech company. Link here.
INVESTMENT
Scout invites people to invest for as little as $1 per month. This new app is helping Gen Z invest in cars, food, video games, and other ‘themes’. Link here.
Rho expands access to tailored treasury management with Prime Treasury. Link here.
Merck KGaA made a $20 million commitment to CNote, a women-led impact investing platform. Link here.
Rapid Finance acquired digital lending technology provider Thrive for an undisclosed sum. Link here.
If you are a fintech startup and have over 100 questions, send me an email. Maybe I can answer a few.