While many people unplugged from their work computers last week to enjoy holiday festivities, the news in the fintech world didn’t stop moving. As you sift through the backlog of emails, voicemails, and meetings post-vacation, here’s a handy news digest we’ve curated for you.
Dive into the latest in fintech news as we unpack the biggest headlines from the past week, making it easier for you to catch up on what you missed.
1
December 18: Salesforce Signs Definitive Agreement to Acquire Spiff
Utah-based compensation platform Spiff has agreed to be acquired by Salesforce. Financial terms of the deal were undisclosed. Salesforce will integrate the Spiff team into its Sales Cloud team, a group that aims to enhance Salesforce’s Sales Performance Management solutions.
2
December 19: Walmart Taps Affirm to Offer BNPL Option at Self-checkout
Buy now, pay later (BNPL) heavyweight Affirm has extended its partnership with Walmart to offer its BNPL solution at select Walmart self-checkout stands. Shoppers can use Affirm to pay for non-grocery purchases ranging from $144 to $4,000 in monthly installments.
3
December 21: Circle Secures Conditional Digital Asset Service Provider Registration
Massachusetts-based Circle received a conditional registration as a Digital Asset Service Provider (DASP) with the French Financial Markets Authority. The company’s goal is to have its European operations brought under comprehensive EU oversight with both a full DASP and Electronic Money Institution license. Circle also appointed Coralie Billmann as head of French operations.
4
December 21: Saudi Arabia-based Tabby Lands $700 Million Credit Facility from JP Morgan Chase
Saudi Arabia-based BNPL platform Tabby received a $700 million credit facility from JP Morgan Chase. Since it was founded in 2019, Tabby has brought in a total of $1.7 billion in combined debt and equity funding. The news comes before the company’s planned listing on the Saudi Stock Exchange.
5
December 22: Blackstone Agrees to Acquire Sony Payment Services
Private equity group Blackstone has agreed to acquire Sony Payment Services. The firm is acquiring Sony Payment Services from Sony Group’s Sony Bank, which will still support Sony Payment Services as a minority investor. The acquisition marks Blackstone’s first investment in a Japan-based fintech company.
6
December 25: Libyan Islamic Bank taps Backbase to Enhance Customer Experience in Digital Channels
Libyan Islamic Bank partnered with Backbase to “streamline its customer service operations and enhance its customers’ digital banking experience.” The move, which is expected to reduce Libyan Islamic Bank’s friction in both onboarding and servicing, will revamp the bank’s existing mobile app for retail customers and introduce new digital apps for business users.
7
December 26: Grayscale Chair Barry Silbert Resigns
CEO and Founder of Digital Currency Group Barry Silbert resigned as Grayscale Investments chairman. Digital Currency Group, which is Grayscale Investments’ parent company, is currently caught up in lawsuits from U.S. regulators. Digital Currency Group Chief Financial Officer Mark Shifke is replacing Silbert as chairman.
8
December 27: OakNorth Brings on Lord Adair Turner as New Chairman
U.K. neobank OakNorth has appointed Lord Adair Turner as its Chairman. Lord Turner has previously served as Vice-Chairman of Merrill Lynch Europe, has been a Board Director of Standard Chartered, was Chair of the Financial Services Authority, and is a founding member of the Financial Policy Committee.
9
December 28: Saudi Fintech Tameed Closes $15 Million Series A Funding Round
Small business lending platform Tameed received $15 million in funding. The round was led by Alromaih Group in Riyadh. Saudi Arabia-based Tameed will use the funding to fuel its growth to meet demand for its Shariah-compliant financing products.
10
January 1: HSBC Launches Money Transfer and Currency Conversion App Zing
HSBC launched a new money transfer and currency conversion app with companion debit card. The new tool, called Zing, is available for both iOS and Android. With Zing, users can hold up to 10 different currencies and make transactions in local currency, avoiding point of sale currency conversion fees.