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This week marks the beginning of Phase 3 of Brazil’s embrace of open banking. Phase 3 is the second-to-last stage of the implementation plan set out by the Brazilian Central Bank. According to reports, Phase 3 arrives about one month late – the original date was September 30th – but the changes that the newest Read more…
This week’s Finovate Global List Series feature takes a look at the roster of Southeastern Asia-based technology unicorns compiled by Credit Suisse’s ASEAN research team in a recent report to see how many of these 35 billion-plus valuation companies are fintech firms. “The number of unicorns in ASEAN has continued to increase over the last Read more…
In a round led by Upstart, and featuring participation from DeFi network Stellar Enterprise Foundation and new investors Kindred Ventures and the J. Safra Group, emerging markets digital lender Tala has raised $145 million in funding. The Series E round takes the company’s total capital raised to more than $350 million. The investment also gives Read more…
Two of their respective regions’ most powerful economies are moving closer to the issuance of Central Bank Digital Currencies or CBDCs. In India, Reserve Bank of India deputy governor Shri T. Rabi Sanker said that the bank is working toward a “phased implementation strategy” that would further the country’s multi-year effort to transition its citizens Read more…
Financial superapp Revolut secured $800 million in funding this week. Softbank Vision Fund 2 and Tiger Global were the investors in the Series E round, which gave the London-based fintech a valuation of $33 billion. Both Softbank Vision Fund 2 and Tiger Global are new investors to the company. Company founder and CEO Nikolay Storonsky Read more…
Six years after its launch, Danish fintech Pleo has become Europe’s latest fintech unicorn. The smart company card provider announced early this week that it had raised $150 million in Series C funding – the largest Series C round for a Danish company to date – earning a valuation of $1.7 billion in the process. Read more…
FinovateAsia 2021 is over. But we’re keeping the doors open and the lights on for a few more days to let those of you who attended our digital fintech conference last month to check out any of the keynote addresses and panel discussions that you might have missed. The platform will remain available to FinovateAsia Read more…
Eighteen months after the U.S. Justice Department blocked Visa’s attempt to acquire Plaid, the company is back at the counter with a similarly ambitious acquisition: the purchase of European open banking platform Tink for $2.1. billion (€ 1.8 billion). “Visa is committed to doing all we can to foster innovation and empower consumers in support Read more…
FinovateAsia Digital is in the books! A big thank you to our sponsors – DreamQuark, InterSystems, and CleverTap – our demoing companies – Amber, Crayon Data, Dreams, FinBit.io, QuickFi, and Strands – our speakers and, of course, our attendees. Your innovations and insights helped make our second, all-digital FinovateAsia conference a great success. What did Read more…
This is a guest post from Adam Goulston, copywriter, editor, marketer, and researcher with Scize Group. Asia is the global leader in fintech, according to a survey of 27,000+ digitally active consumers in 27 markets. And in Asia, China and India are big leaders – over half their active adult consumers use fintech services regularly. Read more…
In a round led by Prosus Ventures and Tencent, Amsterdam-based fintech BUX has secured $80 million in funding that will fuel both international expansion and new product development. The investment also featured a change in the leadership ranks at the company, with founder Nick Bortot handing over the CEO reins to COO Yorick Naeff. “With Read more…
Zelf, a messenger-based challenger bank based in Latvia and focused on Generation Z customers, announced earlier this week that it has secured $2 million in pre-seed funding. The round was led by Austrian venture capital firm 3VC, and featured participation by Seed X, Hard Yaka, Goldfinger, and angel investor Chris Adelsbach. The company, founded by Read more…