Payments News

On The Web

nbsp;

Deals

Sweden’s Trustly Plans $11 Billion IPO As Digital Payments Boom: Sources

“Swedish payments firm Trustly plans to take advantage of a surge in digital transactions in the COVID-19 pandemic with a second-quarter flotation that could value it at up to 9 billion euros ($11 billion), people close to the matter said. The initial public offering (IPO), likely in Stockholm, is one of a number of technology […]
nbsp;

Deals

TransferWise Picks Banks to Spearhead Blockbuster Flotation

“TransferWise, the British-based payments group, has picked two of Wall Street’s biggest players to spearhead a bumper flotation that could be among the most prestigious in a bulging pipeline of London stock market debutants. Sky News has learnt that TransferWise has appointed Goldman Sachs and Morgan Stanley as joint global co-ordinators for its long-awaited initial […]
nbsp;

Deals

Payments Startup Payoneer in Merger Talks With SPAC

“Payoneer Inc. , an online payments specialist, is in talks to go public through a merger with FTAC Olympus Acquisition Corp. , a blank-check firm, according to people with knowledge of the matter. FTAC rose as much as 29% on the news.”
nbsp;

Deals

X1 Card Raises $12 Million for Its Credit Card With Limits Based on Your Income

“X1 Card is raising a $12 million funding round. The company is building a credit card that sets limits based on your current and future income, not your credit score. Spark Capital is leading the round with Jared Leto, Aaron Levie, Jeremy Stoppelman, Max Levchin and Ali Rowghani also participating. American Express veteran Ash Gupta […]
nbsp;

Deals

Warburg-Backed Vietnam E-Wallet Raises $100 Million

“Vietnam’s startup payment app MoMo has raised a new funding round of more than $100 million, according to two people familiar with the investment. The company, M-Service JSC, creator of MoMo, confirmed that it raised money from investors without specifying how much.”
nbsp;

Companies

UBS Fund Pursues $400 Million Stake in SoftBank-Backed Paytm

“UBS Group AG is in talks to invest $400 million in Paytm, the most valuable Indian startup, in a bet on the surging digital payments market in the world’s second-most populous country, people with knowledge of the matter said.    A fund run by UBS’s asset management arm is in discussions to buy a stake […]

On The Wires

nbsp;

Deals

Trovata.io Secures $20 Million in Series A Funding From Syndicate of Financial Institutions Led by Wells Fargo Strategic Capital

“Trovata.io , the leader in automating cash management with open banking, announced today the closing of its Series A funding round, raising $20 million. Wells Fargo Strategic Capital led the investment round with participation from new investors, Capital One Ventures and Pivot Investment Partners, as well as existing early investors, J.P. Morgan and FINTOP Capital.”
nbsp; nbsp;

Deals

MX Raises $300 Million in Series C Funding, Increases Valuation to $1.9 Billion

“MX, the leader in data-driven finance and creator of the Money Experience category, today announced it has raised $300 million in a Series C funding round led by a $150 million investment from TPG Growth with additional participation from new and existing investors including CapitalG, Geodesic Capital, Greycroft, Cota Capital, Canapi Ventures, Digital Garage, Point72 […]
nbsp;

Deals

Rapyd Raises $300 Million in Funding to Support Accelerated Growth Within Global Payments Industry

“Rapyd , a global Fintech as a Service company, today announced a $300 million Series D financing round led by Coatue. Several new investors participated in the financing, including Spark Capital, Avid Ventures, FJ Labs, and Latitude, along with further investment from current investors General Catalyst, Oak FT, Tiger Global, Target Global, Durable Capital, Tal Capital, and […]