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Fintech

Challenger Banks On The Rise In Underserved Markets

Challenger Banks On The Rise In Underserved Markets

Fintech
Fintech Farm, a newly launched fintech startup based in the U.K. that creates digital banks in emerging markets, confirmed to TechCrunch today that it has raised $7.4 million in seed funding. The company said it plans to use the investment to launch neobanks in eight countries over the next 24 months. Flyer One Ventures and Solid led the seed round. TA Ventures, Jiji, u.ventures and AVentures Capital also participated. Digital banks, neobanks, challenger banks or whatever you may call them, are among the biggest recipients of VC investments in fintech. Globally, hundreds have sprung forth the past few years to challenge incumbents in their respective markets. In Eastern Europe, for instance, Ukrainian neobank Monobank, in just the years of operations, has amassed over 4.5 mil...
5 Ways The Cross-Border Payments Industry Has Evolved

5 Ways The Cross-Border Payments Industry Has Evolved

Fintech
The foundation of cross-border payment has a mixture of speed, low costs, transparency, and unlimited access to funds transfer in the finance section. They’re the building blocks used to improve international trade for B2C or B2B and promote economic growth. Recently, technological innovations have refined the international payments systems to increase service delivery for businesses and facilitate seamless financial transactions worldwide. Cross-border payments rely on the partnership of banks who authorize the exchange of funds and carriers who transfer the money upon fulfillment of the business agreement. They aim to complete transactions through transparent means and allow real-time tracking of the money on transit. The revolution in the digital space is forcing businesse...
Asian Payments Gateway Goliath Aims To Raise $500m In US IPO

Asian Payments Gateway Goliath Aims To Raise $500m In US IPO

Fintech
Currently valued at $3b, Pine Labs seeks to raise about $500 Mn at $5b-$7b. Previously, the startup was reportedly looking for a $1b IPO. Pine Labs has hired investment banks Morgan Stanley and Goldman Sachs to manage the proposed IPO — a mix of fresh and secondary issue. Fintech unicorn Pine Labs is moving ahead with preparations for a US listing. The merchant commerce platform is looking to raise about $500 Mn (down from previous reports suggesting $1b IPO) at $5b-$7b. Currently valued at $3b, the point of sale (PoS) and merchant commerce solution provider has filed confidentially with the US Securities and Exchange Commission (SEC) for its IPO in New York, according to a Bloomberg report. For the uninitiated, companies looking to list have more flexibility when filin...
Business Strategy Giant Launches Cryptocurrency Fintech Consultancy

Business Strategy Giant Launches Cryptocurrency Fintech Consultancy

Fintech
Building off a decade of helping the world’s fastest growing start-ups succeed by solving major regulatory and public affairs challenges, Tusk Strategies recently announced the launch of a new practice area focused on Crypto + FinTech. The firm announced that the practice group will be led by Eric Soufer, a Tusk veteran who’s led winning high-stakes campaigns for clients in financial services, mobility, and insurtech, and brings over a decade of high-level government and policy experience to the role. The group will advise Crypto and FinTech clients as they navigate complex regulatory and public affairs challenges in New York and across the country. Tusk’s Crypto + FinTech Practice will create and execute strategies in every area of public affairs, including: public policy and advo...
UK Investor Platform In Negotiations With Behemoth Technology Investor

UK Investor Platform In Negotiations With Behemoth Technology Investor

Fintech
According to weekend reports, UK based investor platform, PrimaryBid, is close to finalising the details of a $150m (£110m) funding round that will be led by the second of Japanese giant SoftBank's Vision Funds - which have amassed stakes in companies ranging from Uber to Revolut. PrimaryBid's Series C fundraising was likely to value the company at more than $500m (£368m) on a pre-money basis. It will represent another huge step for a company which says its goal is to democratise public equity markets by enabling ordinary investors to participate in cash calls from which they are frequently excluded. The issue became increasingly controversial during the early stages of the COVID-19 crisis, when scores of London-listed companies tapped institutional shareholders for money to ...