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This week we began our celebration of FinovateEurope’s earliest alums. In honor of FinovateEurope’s Alumni Alley Showcase – a new feature designed to highlight the innovations of FinovateEurope alums – we’re highlighting the companies that introduced their innovations to Finovate’s European audience more than a decade ago – and are still among the top innovators Read more…
The ESG (Environmental, Social, and Governance) movement may be drawing snickers from some corners of the investing world. But in places like Singapore, the drive to build a more sustainable, equitable, and accountable world for investors and users of financial services, is picking up steam. This week, the Monetary Authority of Singapore announced the launch Read more…
HSBC has tapped Nova Credit to integrate the company’s Credit Passport, a cross-border credit data product. As part of the partnership, Nova Credit received a $10 million investment, bringing its total funding to more than $79 million. HSBC deployed Nova Credit’s Credit Passport at HSBC Singapore in May and plans to expand its use of Read more…
Currencycloud teamed up with Future FinTech Labs (FTFT Labs) to help the New York City-based fintech launch its Tempo app. Tempo is designed to make it easier, more secure and more effective for U.S. immigrants to send money overseas. Acquired by Visa in 2021, Currencycloud has processed more than $100 billion in cross-border money transfers Read more…
Pomelo is launching a family credit card account that gives accountholders up to four cards to give to friends and family overseas. Because the payments run on credit rails, users save on international money transfer fees. Pomelo is launching money transfer capabilities between the U.S. and the Philippines. Pomelo is the newest fintech in the Read more…
Lending automation platform and decision management solution and services provider TurnKey Lender has secured $10 million in new funding. The amount raised represents a blend of both equity financing and debt. Led by OTB Ventures, the round featured participation from German development finance institution DEG and Vertex Ventures. TurnKey Lender will use the additional capital Read more…
This week’s edition of Finovate Global takes a look at recent developments in the fintech industry in India. Has a “fintech reckoning” come to India? That’s the take shared by the Wall Street Journal recently, which suggested that many of the country’s fintech startups are facing new regulatory scrutiny. TechCrunch joined the alarm, looking specifically Read more…
MoneyGram is rolling out a service that will enable users to buy cryptocurrency using cash, as well as allow them to withdraw their crypto holdings in cash, at select MoneyGram locations. The new capabilities are made possible via a partnership with Stellar Development Foundation. The service is currently available in the U.S., Canada, Kenya, and the Philippines. Read more…
Core banking expert Thought Machine raised $160 million in Series D funding. The investment was led by Temasek and saw participation from Intesa Sanpaolo, Morgan Stanley, Eurazeo, ING, JPMorgan Chase, Lloyds Banking Group, and SEB. Thought Machine’s valuation now totals $2.7 million, double the valuation it held last fall. Core banking innovator Thought Machine landed Read more…
This week’s Finovate Global takes a look at developments in the Indian fintech industry. Leading off is news that Indian neobank Niyo has secured $100 million in Series C funding. The round was led by Accel and Lightrock India and also featured investment from Beams Fintech Fund, Prime Venture Partners, and JS Capital, among others. 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…
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…