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Deals

Bud raises $20M to connect banks to fintechs and other financial service providers

“Originally launched back in 2016 as a consumer app that wanted to make various financial services accessible from a single aggregated interface, the London-based startup has since pivoted to a tech platform it offers to banks to help them remain more competitive in the Open Banking/PSD2 era. Its tech lets banks create new apps and services […]
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Deals

Aire raises $11M Series B to give credit scoring an ‘upgrade’

“Aire, the U.K. startup that wants to give the credit scoring system a 21st century “upgrade,” has raised $11 million in Series B funding. The round is backed by European enterprise VC Crane Venture Partners, with strategic investments from Experian Ventures and Orange Digital Ventures.”
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Deals

Crypto exchange Kraken acquires Crypto Facilities

“Cryptocurrency exchange Kraken just closed its biggest acquisition to date. The company is buying Crypto Facilities in a nine-figure deal. Crypto Facilities is an exchange and index provider regulated by the Financial Conduct Authority in the U.K. In particular, Crypto Facilities lets you trade futures on multiple cryptocurrency pairs.”
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Deals

UK Fintech Shuts US Operation to Save Chinese Deal

“A British money transfer company has abruptly closed its US operation in an attempt to avoid having its planned £700m takeover by China’s Ant Financial derailed by American regulators. WorldFirst has been in talks with Ant Financial since late last year in a deal that would mark the biggest expansion into western markets by China’s […]
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Deals

China’s Ant Financial raised almost as much money as all US and European fintech firms combined

“Ant Financial accounted for 35% of global venture capital investment in fintech firms last year, according to CB Insights. The Chinese company started in 2004 as Alipay, a payment service for Alibaba. It blew past US-based PayPal in 2013 to become the largest provider of payments via mobile devices. Now, the platform offers a range of services including investing, credit, and […]
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Deals

Facebook Quietly Acquires its First Blockchain Startup, Chainspace

“The move by facebook does not come as a shock to many as the social media giant has had a history of acquiring startups such as Instagram, Whatsapp, Snaptu, Face.com, Oculus VR and a few others. In the case of Chainspace, the acqui-hire is more or less buying out the company primarily for the skills and expertise […]
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Deals

Visa boosts offer for Earthport in battle with Mastercard

“Visa Inc on Friday sweetened its offer for payment company Earthport Plc to about 247 million pounds ($319.84 million), pushing past rival Mastercard Inc’s earlier bid and setting up a showdown for the assets. A unit of Visa offered 37 pence in cash for each Earthport share, a 23 percent premium to its initial bid and […]
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Deals

Tink, the European open banking platform, scores €56M in new funding

“Originally launched in Sweden in 2013 as a consumer-facing finance app with bank account aggregation at its heart, Tink has since repositioned its offering to provide the same underlying technology and more to banks and other financial service providers who want to ride the open banking/PSD2 train.”
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Deals

SunTrust, BB&T to Form Sixth-Largest U.S. Bank

“BB&T Corp. is buying SunTrust Banks Inc. in a stock deal that combines two of the country’s largest regional banks into an entity that could better compete with larger peers.The companies said the merger, which they valued at about $66 billion, would create the sixth-largest U.S. bank in terms of assets and deposits. The deal would also be one of […]
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Deals

Lightspeed to Seek C$200 Million in Canadian Listing

“Lightspeed POS Inc., which filed for an initial public offering Wednesday, is seeking to raise about C$200 million ($151.4 million), according to people familiar with the matter. The Montreal-based maker of payments software has filed a preliminary prospectus with Canadian regulators and plans to list its shares on the Toronto Stock Exchange under the ticker LSPD, it […]