Category: FinTech
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Fidelity, BlackRock Cut The Valuation Of FinTech Giant Ant!
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Fintech giant Ant Group Co.’s valuation has been lowered again by global investors who bought private shares ahead of its suspended initial public offering. According to Bloomberg, Fidelity Investments lowered its estimate for Ant to $70 billion in late May. That’s down from $78 billion last June, and $235 billion…
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Mexican Fintech Company Covalto To List On Nasdaq Via SPAC!
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Mexican digital and banking services platform Covalto (website) announced that it would list on the Nasdaq through a Special Purpose Acquisition Company (SPAC). The deal values the company, formerly known as Credijusto, at an implied pro forma enterprise value of $547 million and could generate up to $177 million in…
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Indian Fintech Uni Suspends Card Services In Face Of Central Bank Guidance!
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Indian Buy-now-pay-later card startup Uni (website) plans to temporarily suspend its card services in the South Asian market due to the local central bank’s digital lending guidelines. The fintech, which is backed by General Catalyst, Elevation Capital, and Lightspeed Venture Partners, confirmed that the cards will be inactive until further…
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FinTech Startup Pomelo Receives $70 Million In Seed Funding!
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San Francisco-based Pomelo receives $20 million in venture capital and a $50 million credit facility in a round led by Founders Fund and A* Capital, with participation from Afore Capital, The Chainsmokers, and The Weeknd, among others. Pomelo’s platform combines consumer loans and money transfers with no transfer fees. In…
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New Details About The Failed FinTech Of The Nephews Of German Chancellor Scholz!
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At the beginning of July, the Hamburg fintech Rubarb had surprisingly filed for insolvency. Behind the company are Fabian Scholz and Jakob Scholz, the nephews of German Chancellor Olaf Scholz. In the past, the two founders had repeatedly used their relationship with the SPD politician for marketing purposes.
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This Is How Much Money Is Said To Have Flowed For The Penta Takeover!
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The purchase price paid by French startup Qonto for fintech Penta has not been officially disclosed. However, the financial portals Finance Forward, and Finanz-Szene has researched that the purchase price is said to have been around 200 million euros. The media refer thereby to documents from the French trade register.
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eToro Acquires Fintech Startup Gatsby, For $50 million!
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Israeli online investment platform eToro is set to complete its acquisition of fintech startup Gatsby, following approval from the U.S. Financial Industry Regulatory Authority (FINRA). This was reported by the tech news portal TechCrunch. According to the report, the deal is worth $50 million in cash and common stock.
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Funding Circle Co-Founder Unveils New fintech Super Payments With $27M Investment!
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Samir Desai (pictured above), the co-founder of Funding Circle, has unveiled Super Payments, a fintech startup he founded back in February but very little was known about until now. The startup successfully raised £22.5 million (about $27 million) in a funding round led by Accel, with participation from Union Square…
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South Korean Fintech FOMO Pay Raises $13 Million To Develop CBDC projects!
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Singapore-based fintech company FOMO Pay (website) announced that it had received $13 million in funding in its Series A round led by Jump Crypto. Other participating investors include HashKey Capital, Antalpha Ventures, Ab Initio Capital and Republic Capital. Founded in 2015, FOMO Pay Pte Ltd is a major payment institution…
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Remitly To Acquire Israeli Rewire For $80 million!
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Nasdaq-listed Remitly Global Inc. has signed a definitive agreement to acquire Rewire, an Israel-based remittance platform for migrant workers, for $80 million in cash and stock. The transaction is expected to close in the second half of 2022, subject to approval by Israeli and Dutch authorities. Rewire was founded in…