News

LATEST NEWS:

Important developments in fintech which have a far-reaching and significant impact.

Velo and Mastercard partner up:

In an attempt to revolutionise business payments, Velo can now operate as a buyer and supplier of Mastercards Track Business Payments Service. This service allows for the exchange of payments-related data between buyers and sellers, all while being integrated with Velo, thereby providing a promising solution to outdated B2B transacting.

Findr:

To help startups and their founders find partners in the early stages. Majority of startups, 9 out of ten, fail in year one due to the lack of established partnerships. Through the use of AI, findr can match with commercial partnerships covering retail, financial institutions, and investors and through a few clicks, a couple of hours for due process, and finalised in days instead of the industry average of 12-18 months.

JP Morgan extends banking services to Cryptocurrency exchanges:

Coinbase and Gemini have for the first time been accepted as clients by the largest bank in the USA. JP Morgan will handle cash-management and dollar-based transactions for the exchanges’ US-based customers.

Tpay Mobile acquirers Payguru:

One of the leading merchant acquirers and mobile payment enablers in the Middle-East and Africa announced the 100% acquisition of one of Turkey’s leading payment service providers. Tpay will now leverage the established partnerships with banks and telecoms in the region to further expand its services and geographic reach.

Anyfin raises $30mil Series B:

The Swedish fintech allows customers to refinance their loans, battling the high-interest rates on loans and credit cards. The new round of funding is for EU expansion to bring fair and increased financial wellness to more markets.

World Economic Forum; Green Growth:

The full title of the report is “Bridging the gap in European scale-up funding: The Green Imperative in an unprecedented time”. The report (access it here) settles on EU streamlining and reforming in key areas such as; applying blended finance models, increased ease of access for new companies in public and private procurement, improving the voice of EU growth companies in policy-making and standardisation.

European Fintech Association (EFA):

The EFA aims to unite unheard voices in the fintech industry. The non-profit combines EFAlliance and FinTechs4Europue into one entity to provide a clear approach to developing European Union policy. The board is led by Marc Roberts, who is also the general council at a Germany-based fintech Raisin.

France protecting homegrown technology companies:

To protect startups from takeovers, the finance ministry has put together a fund of up to 500 million to bail out companies under threat of foreign takeover. The initial fund is 150 million and state-backed by BPI France and is squarely aimed at protecting the industry as investors try to warm their cold feet amid the global pandemic.