Payments News

On The Web

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Deals

Fintech All-star Nubank Raises a $750M Mega Round

“In 2013, Colombian businessman David Velez decided to reinvent the Brazilian banking system. He didn’t speak Portuguese, nor was he an engineer or a banker, but he did have the conviction that the system was broken and that he could fix it. And as a former Sequoia VC, he also had access to capital. His […]
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Providers

Revolut Submits Draft Application for U.S. Bank Charter

“London-based financial technology startup Revolut said on Monday it had completed the first step to apply for a U.S. banking licence, and is launching its services for businesses across 50 states. One of Europe’s best-known fintech startups, Revolut first opened its virtual American doors at the start of the coronavirus pandemic in partnership with a […]
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Providers

Scoop: Chime Makes a Fifth of Its Income From Customers Paying ATM Fees

“Chime, a fast-growing online bank most recently valued at $14.5 billion , derives about 21% of its revenue from fees its customers pay for using out-of-network ATMs, according to financial data obtained by Axios. Why it matters: Banking alternatives like Chime aggressively market themselves to consumers who have been burned too often by bank fees. […]
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Providers

The Global Boom in Digital Banks: What the Data Tells Us | Sifted

“There are now almost 300 so-called “neobanks” live worldwide, with nearly half concentrated in Europe. Meanwhile, new players are continuing to join the ranks, particularly in Latin America, Africa and the Middle East . This boom is being fuelled by ongoing investor enthusiasm for the sector, with neobanks raising over $2bn in venture capital globally […]
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Deals

Current Joins Mobile-Banking Boom With $131 Million Tiger Global-Led Round

“Investors are pumping money into mobile-banking startups as more consumers open digital accounts—and New York-based startup Current is the latest beneficiary of this trend. The startup, which offers free mobile banking accounts in the U.S. and is incorporated as Finco Services Inc., raised $131 million in a Series C funding round led by Tiger Global […]
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Providers

Monese and Mastercard enter strategic partnership to better serve the underbanked across Europe

“Digital banking provider Monese has today revealed a strategic partnership with global payments giant Mastercard to enhance local banking across Europe.  The two companies are hoping to better serve the underbanked through the collaboration by providing greater access to banking services and electronic payments.  As part of the partnership, Monese will become a principal Mastercard […]
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On The Wires

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Providers

Neo Financial Raises $50 Million in Series A Funding and Debt Financing

“Today, Neo Financial (Neo), a technology company created by two of the co-founders of SkipTheDishes, announced it has completed a $25 million Series A fundraising round alongside $25 million in debt facility financing, bringing this funding round total to $50 million CAD. Amidst an unprecedented year, this raise marks one of the largest Series A […]
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