Category: FinTech
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Millions Of Likes Didn’t Help: Teen FinTech Ruuky Files For Bankruptcy!
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Banking for the Tiktok generation – that’s how the founders of Ruuky hoped to find a place next to N26. But now the fintech is facing bankruptcy despite its 250,000 users and more than 230.000 TitTok followers. Through the insolvency proceedings, the company now wants to preserve the jobs of…
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Alibaba Shares Ultimately Rise By Double Digits: Ant Progresses In Discussions With Chinese Supervisors!
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The Chinese technology company Ant Group of billionaire Jack Ma is progressing in resolving its regulatory issues with the Chinese Banking and Insurance Regulatory Commission. The regulator allowed the group to increase the capital of its consumer finance subsidiary by 10.5 billion yuan (about €1.4 billion) shortly before the turn…
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JJ Entertainment Wants To Acquire FinTech Handcheque!
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JJ Entertainment SE, listed on the Direct Market (MTF) of the Vienna Stock Exchange, is negotiating the takeover of Vienna-based handcheque GmbH, fintech offering a wallet solution. JJ Entertainment SE’s intends to focus on capital market-related advisory services for companies and their shareholders in raising equity and debt capital via…
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J.P. Morgan Backs Indian PayTech Company ISG!
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JP Morgan has invested strategically in leading Indian payments solutions provider In-Solutions Global (ISG). The company processes more than 17 billion transactions annually for its clients through its proprietary GeniusTM Payments-as-a-Service (PaaS) platform. It offers a market-leading stack and scalable capabilities that simplify the payment capture process, resulting in easy…
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Not Profitable! Green German Fintech Tomorrow Terminates A Quarter Of Its Team!
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The economic crisis is hitting the fintech scene particularly hard and it’s not stopping at Hamburg-based startup Tomorrow. The green bank has decided to make drastic staff cuts and terminated a quarter of its workforce on its way to profitability.
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PayTech Native Teams Receives €2 Million To Support Remote And Flexible Workers!
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Despite the depressive fintech environment, London-based Native Teams (website), a payment platform for mobile and flexible workers, has received €2 million in a seed round. The round was led by Eleven Ventures, one of the leading early-stage VCs in Southeast Europe. Other leading funds also participated in the round, including…
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French FinTech Silvr Expands To Germany And Cooperates With DFKP!
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Silvr, founded in 2020, is preparing its market entry in Germany. To this end, it will in future cooperate with DFKP, an intermediary for corporate financing in Germany. The common goal: is to make raising capital for digital companies even easier and more accessible in the future. This should be…
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Crypto Payment Processor MoonPay Successfully Registered With The UK Regulator!
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The UK entity of crypto payment processor MoonPay has received the UK’s Financial Conduct Authority (FCA) license. Moonpay (UK) Limited appeared on the Registered Cryptoasset Firms list on 9 December 2022 and is the 40th cryptocurrency service provider authorized by the UK watchdog. It joins the likes of crypto ventures…
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Klarna CEO Sees No Further Rounds Of Layoffs Despite Tripled Net Loss!
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The payment service provider Klarna is suffering from consumer restraint. Nevertheless, Klarna CEO Sebastian Siemiatkowski is optimistic. Growth in the U.S. and the U.K. gave the “Buy-Now-Pay-Later” pioneer Klarna an increase in revenue in the first nine months of the year. Revenues and payment volumes rose 22% year-on-year, the Swedish…
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J.P. Morgan Invests In Swiss WealthTech Companies!
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J.P. Morgan’s private bank is investing in two Swiss fintech companies. The goal is to personalize investment advice for private clients further. The private bank of the central US bank J.P. Morgan is investing in two Swiss fintech companies. The investment will be made through an affiliate of J.P. Morgan…