Author: Lucas Peterson
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Berlin-Based Solaris Posts Higher Losses And Needs To Refocus On Profitability!
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The Berlin fintech Solaris (website) had to accept a higher loss last year due to increased personnel expenses. The pre-tax loss at the Berlin-based fintech rose by around 24% year-on-year to almost 42 million euros. The company hired 88 new employees and employed 425 people in December 2021. This led…
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Bad News: BNPL-Fintech Klarna Triples Losses In H1 2022!
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After the hype years of 2020 and 2021, BNPL provider Klarna is struggling badly. After the massive down-round and mass layoffs, the Swedish unicorn has to report today a pretty tough first half of 2022. As a result, the operating loss has tripled compared to last year’s period.
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New Boss At Fintech Abrantix!
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Paytech company Abrantix has appointed former chief market officer of French payments giant Worldline, Roger Niederer, as its new CEO. According to a statement, Niederer brings global expertise in fintech and merchant services, M&A and internationalization experience, and a worldwide network. He replaces founder Daniel Eckstein, who will remain with…
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Fintech Tortoise Receives Funding From Swiggy And ZestMoney!
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Fintech startup Tortoise, a platform that rewards consumers for saving for their purchases, has received an undisclosed amount of funding from Sriharsha Majety, co-founder and CEO of Swiggy, and Lizzie Chapman, co-founder and CEO of fintech ZestMoney, as part of a mentorship round.
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Kenyan Pezesha Receives $11M from Women’s World Banking And IOG!
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The Kenyan embedded finance fintech company Pezesha (website) secured an $11 million pre-Series A equity round led by Women’s World Banking Capital Partners II with participation from Verdant Frontiers Fintech Fund, cFund, and Cardano blockchain maker Input Output Global (IOG). The round also included a $5 million loan from Talanton…
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McKinsey Expects Fintech Sales In Africa To Increase Eightfold Until 2025!
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According to McKinsey & Co, revenues for African financial technology companies could rise to $30.3 billion by 2025 – eight times higher than in 2020 – as a growing, young, underbanked population gains more access to the Internet. Financial services revenues in Ghana and Francophone West Africa will grow fastest,…
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Searching The Wirecard Millions? FinTelegram’s Investigative Journey To Find Answers!
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FinTelegram launched a new series about the search for the vanished Wirecard millions. The only big question at Wirecard was and is where around €1.9 billion remained. The Wirecard collapse in 2020 triggered one of the biggest financial scandals in Germany. While founder and CEO Markus Braun is still in…
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Cannabis Fintech Bespoke Expands BNPL Base In The Cash-Poor Industry!
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Fintech company Bespoke Financial plans to expand its “buy now pay later” service for cannabis businesses in California and Massachusetts later this year, its CEO George Mancheril said Thursday. The push comes after a successful pilot in July that allowed cannabis retail stores to buy products from producers using the…
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DWS Hires Ex-Fintech Manager For New Digital Unit
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German fund company DWS has appointed André Bajorat (LinkedIn) as head of the new Digital Strategy, Products and Solutions division. Bajorat is to take over the department on September 1. He has worked at Deutsche Bank since 2020 as head of the strategy at the corporate bank. Previously, he was…
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Five Months After A $55 Million Series B, FinTech Argyle Is Cutting Jobs.
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US-based Argyle (website), which aims to help businesses and institutions access employment data, has laid off several employees across all departments. The figure cited by Argyle does not include contractors who may be affected by the layoff. The startup raised a $20 million Series A in October 2020 and announced…