THIS WEEK’S FUNDING NEWS OVERVIEW
For the past week’s funding news overview, we recommend reading our weekly #DoneDeal newsletter 👇
👀 Are you interested in funding news from the FinTech space?
💡 Read all about it in my weekly overview article and get the latest funding news from the global FinTech space in your inbox every week.
REPORT
In order to evaluate the attractiveness of different locations for FinTech companies, the seventh edition of the FinTech hub ranking is presented in this #fintechreport by Thomas Ankenbrand & Denis Bieri, at the Institute of Financial Services Zug IFZ.
Download the full 191-page report below 👇
REPORT
Check out this #fintechreport by Arkwright on "Merchant Acquiring Industry Dynamics - Evolution of the Merchant Acquiring Competitive Landscape".
👀 NEWS HIGHLIGHT
Apple introduced Apple Pay Later in the U.S. It allows users to split purchases into four payments, spread over six weeks with no interest and no fees.
📰 ARTICLE
Block’s shares plunged nearly 15% after Hindenburg Research announced that the payment company allowed criminal activity to operate with lax controls.
Block strucks back, calling the Hindenburg report “misleading” and saying it intends to work with the US SEC to explore legal action against the short-seller.
🧐 ANALYSIS
The recent collapse of SVB sent shockwaves across the global fintech industry. Read the full WhiteSight analysis through the link below 👇
💡 INSIGHTS
2022 was a tumultuous year for many FinTech startups. But for Ramp, it was a year of opportunity - the company shared that it saw its revenue grow by 4x last year.
Read the full Techcrunch story through the link below👇
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🇺🇸 NATIONAL HIGHLIGHTS
⭐️ Bud Financial Limited announced its expansion into the US.
⭐️ StellarFi raised $15 million in new funding.
⭐️ Beam raised $4 million in a seed funding round led by Accel.
⭐️ CSI partners with Hawk AI to deliver its latest anti-money laundering and fraud prevention products.
⭐️ Zero Hash appointed longtime crypto leader Cyril Mathew as its new president and COO as the company looks to expand and grow internationally.
⭐️ Bolt’s One-Click Checkout technology is now available on an SAP-endorsed app.
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DIGITAL BANKING
MoneyLion Inc. announced the rebrand of "Even Financial", the embedded finance platform for enterprise businesses, to "Engine by MoneyLion".
Infinant secured $5 million in financing to help launch its platform designed for banks, according to a U.S. Securities and Exchange Commission filing.
Zenus Bank acquired Financial Urban Exchange LLC, a fintech specializing in real-time payments for the Caribbean and LATAM markets.
Treasury Prime announced a partnership with Cable to enhance compliance assurance and testing capabilities for its customers.
Greenlight for Banks let financial institutions add Greenlight’s app to their financial service offerings.
VC FUNDS
Mercury raised its FDIC insurance and launched new features for VCs in order to meet the growing demand from former Silicon Valley Bank customers.
PAYMENTS
SHAZAM licensed Iliad Solutions’s dynamic test platform t3:Switch to assist in the testing of the interoperability of its solutions with a wide range of payment schemes.
PrimePay, LLC. announced the launch of its Payroll-Connected On-Demand Pay in partnership with Clair.
Pinwheel joins the Visa Fintech Partner Connect program.
Kyriba and U.S. Bank announced that they are working together to ease the process of enabling real-time payments for businesses.
BNPL
Seattle Bank moves into BNPL with LoanStar Technologies.
Klarna is the latest company to announce its integration with ChatGPT.
SOFTWARE DEVELOPMENT
Spiral raised $28 million to launch its 'Impact-as-a-Service' platform designed to help banks and FinTech embed sustainability and social impact into their businesses.
INSURTECH
Zorro secures $11.5m in seed funding round.
CRYPTO
Stablecoin USDT was added to the Wallet bot on Telegram, expanding the messaging app's facility for buying and selling crypto.
Prosecutors accused FTX founder Sam Bankman-Fried of conspiring to bribe the Chinese government to regain access to more than $1b in frozen cryptocurrency.
INVESTMENT
J.P. Morgan entered into an agreement to acquire Aumni.
MOVERS & SHAKERS
Synapse announced the formation of a new Policy & Regulatory Advisory Board and the appointment of Daniel Gorfine as chair.
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.