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Madison Dearborn Partners has agreed to acquire MoneyGram in a $1.8 billion deal. The deal will offer shareholders $11 per share and will make MoneyGram a privately-held company. MoneyGram anticipates the acquisition will help it advance digital growth and compete against smaller fintechs. MoneyGram, an 82-year-old fintech, announced today it has agreed to be acquired Read more…
Marqeta and Plaid have teamed up to simplify and streamline the ACH transfer process to enable faster funding of financial accounts. The collaboration is designed to provide both seamless account funding as well as additional security during data transfer. Both Marqeta and Plaid made their Finovate debuts as part of Finovate’s developer conference series, FinDEVr. Read more…
Despite record growth, fintechs and traditional financial services institutions, face a range of technical challenges which if not addressed could stall industry progress.
Tonik, a digital neobank based in the Philippines, has secured $131 million in a Series B round that will help the institution expand in the Philippines, as well as throughout Asia. The investment was led by Mizuho Bank of Japan, and gives the company $175 million in total funding. Also participating in this week’s Series Read more…
Passwords are as frustrating as they are essential, especially in financial services. We chatted with LastPass VP of Product Management Dan DeMichele to get an idea of how banks and fintechs can protect themselves, what the future of passwords looks like, and how digital identity is dictating changes. In his role at LastPass, a password Read more…
Trulioo has acquired HelloFlow, a digital onboarding startup. Financial terms of the deal were not disclosed. HelloFlow’s no-code, drag-and-drop tools “vastly simplify” the onboarding process and will offer efficiencies to Trulioo’s GlobalGateway customers. Trulioo will leverage Denmark-based HelloFlow to help expand its global footprint, specifically in Europe. The company plans to double the size of Read more…
As part of Finovate’s continued commemoration of Black History Month, we’re showcasing some of the African American fintech and financial services influencers and leaders who are driving innovation and inclusion in our industry. If you’ve ever lamented the lack of African Americans in the typical fintech influencer lists issued year after year, then hopefully this Read more…
DeFi investment startup Pillow raised $3 million in Seed funding The company will use the funds to fuel global expansion, build its investment strategies, and grow its user base “We want to create a future where accessibility to decentralized finance is democratized,” said company founders Pillow, a platform that invests in curated DeFi strategies, landed Read more…
According to a report from Medici, nearly 168 million people in the MENA region (Middle East and Northern Africa) do not have a bank account. In this environment, opportunities for both traditional financial institutions and new entrants are numerous. In some instances, financial services companies have launched their own digital banking portals in order to Read more…
Eight fintech leaders take us on a tour of their prospects for the future of finance in the coming year, featured exclusively on Streamly, a media partner of Finovate.
U.K. digital bank Monzo is officially entering the U.S. market this week. The startup announced it’s now allowing U.S. clients to apply for a Monzo account. Monzo has been in closed beta for the past 18 months, during which time it has onboarded thousands of new U.S. customers, processed millions of dollars of transactions, and Read more…
Finovate kicks off its African-American History Month commemoration with a conversation with Rodney Williams, co-founder of SoLo Funds. Along with company co-founder Travis Holoway, Williams was named to Cause Artist’s “40 Social Entrepreneurs to Watch for in 2022.” SoLo Funds is a mobile lending platform that brings borrowers and lenders together for peer-to-peer microloans – Read more…