On The Web

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Providers

New Startup-Focused Bank Gets More Than $100 Million From Investors

May 30 2019

• in
• Challenger Banks

“A group of investors has bet more than $100 million on a new digital bank that is looking to tap into the growth of technology startups and the venture-capital firms that fund them. New York-based Grasshopper Bancorp Inc. opened for business in May with plans to challenge Silicon Valley Bank as a go-to financier for […]

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Providers

Kard Is a Challenger Bank for Teens

May 21 2019

• in
• Challenger Banks

“Meet French startup Kard , a challenger bank that works a lot like N26 or Revolut. But Kard is all about convincing teens that their first bank account is going to be a Kard account — a bit like Step in the U.S.”

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Deals

YouTrip, a Challenger Bank in Southeast Asia, Raises $25.5M for Expansion

May 16 2019

• in
• Challenger Banks

“Singapore-based startup YouTrip thinks consumers of Southeast Asia deserve a taste of the challenger bank revolution happening in the U.S. and Europe, and it has raised $25.5 million in new funding to bring its app-and-debit-card service to more parts in the region. Challenger banks have sprung up in Europe in recent years. Unicorns Monzo, Revolut […]

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Providers

Monzo Launches Its ‘bank of the Future’ in the US

June 14 2019

• in
• Challenger Banks

“As Monzo doesn’t have its own US banking license, the features will be a little different. “The main thing that will be removed is lending,” says Blomfield. “We’re not a bank [in the US], so we won’t be lending customers money.” The majority of existing Monzo features will be available in the US, including things […]

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Deals

Monzo, the UK Challenger Bank, Raises £113M Series F Led by YC’s Continuity Fund at a £2B Post-money Valuation

June 25 2019

• in
• Challenger Banks

“Monzo , the fast-growing U.K.-based challenger bank with more than two million account holders, has raised £113 million (~$144m) in additional funding. Confirming TechCrunch’s scoop in April, the Series F round is led by Y Combinator’s “Continuity” growth fund, and gives the company a new £2 billion (~$2.5b) post-money valuation. That’s double the £1 billion […]

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Deals

India’s NiYO ‘neo-bank’ Raises $35M to Help Blue-collar Workers Access Financial Services

July 9 2019

• in
• Challenger Banks

“NiYo Solutions, a Bangalore-based ‘neo-bank’ that helps salaried employees and blue-collar workers access company benefits and other financial services, has raised $35 million in a new funding round to expand its business in the nation and explore international markets for some of its products.”

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Providers

N26 Launches Its Challenger Bank in the US

July 11 2019

• in
• Challenger Banks

“European fintech startup N26 is now accepting customers in the U.S. The company is launching a bank account with a debit card that should provide a better experience compared to traditional retail banks. If you’re familiar with N26, the product that is going live today won’t surprise you much. Customers in the U.S. can download […]

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Providers

Singapore to Issue Digital Bank Licenses | ZDNet

July 1 2019

• in
• Challenger Banks

“Singapore has announced plans to issue up to five digital bank licenses as part of efforts to add market diversity and boost the banking system in the country, as it looks to become a digital economy. The move also is part of a market liberalisation journey spanning two decades and an extension of an existing […]

On The Wires

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Providers

Neo Receives Approval From the Bank of Spain to Launch a Corporate Multi-currency Account

July 10 2019

• in
• Challenger Banks

Neo will allow the account holder to receive, store and pay in around 30 currencies. The Neo account will include an IBAN in the client’s name, and will be fully programmable in order to offer extended automation capabilities to clients. It will rely on a proprietary Core Banking System developed by Neo Fintech Lab in […]

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Providers

Airfox Announces Digital Challenger Bank for Emerging Markets

June 6 2019

• in
• Challenger Banks

“Airfox today announced banQi , its free and flexible digital challenger bank designed specifically for the Brazilian market and its 50 million people who are not served by traditional banking establishments. Developed by Airfox with strategic partner Via Varejo , a leading Brazilian retailer, the banQi platform evolved from the Airfox digital wallet that launched […]