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

“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

Two New Next-gen Banks to Open in the US

“Two new banks are coming to the US: Piermont Bank in New York and Nexos National Bank, based in Stamford, Connecticut. “We appreciate, respect and honour family legacy” Piermont Bank is a “new generation” of commercial banking with a focus on helping clients build and grow business. The Piermont Bank’s team says that it aims […]
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Providers

Challenging the Challenger Banks

“Fintech start-ups have begun a phenomenon some call the “unbundling of financial services” through stand-alone products such as unsecured consumer loans, credit cards, checking and savings accounts, or personal financial management tools. A cohort of entities known as “challenger banks” or “neo-banks” have also entered the market in an attempt to take on digital banking […]
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Providers

Kard Is a Challenger Bank for Teens

“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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Providers

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

“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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Singapore to Issue Digital Bank Licenses | ZDNet

“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 […]
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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

“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 […]

On The Wires

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Providers

Airfox Announces Digital Challenger Bank for Emerging Markets

“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 […]