The former VW manager and social reformer have founded a startup. Employees are to be able to save overtime and vacation via an app. Fintechs like N26 are the model. Peter Hartz, former VW manager and eponym of the unemployment benefit "Hartz IV," is preparing the market launch of his fintech. The 81-year-old is expected to release a smartphone app with his company Timefonds next year.
The Saudi Central Bank announced Sunday that it had granted licenses to two new financial technology companies to provide payment services in the kingdom. Enjaz Payments Services Co. received a license to provide electronic wallets, while Marta Financial Co. received a grant to offer payment services through points of sale.
Singapore-based fintech company UNOAsia Pte Ltd, the principal founder of UNO Digital Bank in the Philippines, has secured US$11 million (RM48.9 million) in a pre-Series A round led by Creador Private Equity. UNOAsia is one of six licensed digital banks in the Philippines.
Silicon Valley-based online broker Robinhood has laid off 23% of its workforce, just three months after the fintech platform cut its workforce by 9% amid global economic turmoil. The latest layoff wave would mean that about 713 employees would be let go, leaving nearly 2,400 employe
Pigtie (website) receives its first investment from business angels for its vision to become the financial home of Generation Z and all generations to come. The startup is developing a holistic financial platform that empowers its user's to take their finances into their own hands. The Munich-based FinTech startup was founded in 2020 by Maximilian Klinke and Christian Maksymiw.
Chinese regulators have once again targeted Alibaba Group Holding, a major shareholder in Ant Group, after several fines were already imposed on the Internet group. The powerful Alibaba Group Holding Ltd and Jack Ma's financial technology giant Ant Group have been under scrutiny from Chinese authorities for years. Ant told regulators of Ma’s intention to cede control.
Umba, a U.S.-based digital bank focused on emerging markets, has acquired a majority stake in Daraja, a Kenyan deposit-taking microfinance bank, for an undisclosed amount. Kenya's monetary authority, the Central Bank of Kenya (CBK), said Umba had acquired a 66.6% stake, which is expected to accelerate Daraja's digitization.
According to media reports, the Central Bank of Kenya (CBK) has ordered lenders and microfinance institutions to stop doing business with fintech companies Flutterwave and Chipper Cash. The CBK said in a letter to the CEOs of commercial banks, microfinance companies and mortgage lenders that the two startups have been making money transfers without the required approval from the banking regulator.
FinTech Wales, the Not-For-Profit membership organization for the FinTech and financial services industry in Wales, has opened the application process for the third season of its accelerator program, FinTech Wales Foundry. The application deadline is August 19, 2022.
