Jun 10, 2022

Global FinTech News - 10th June 2022

By Holland FinTech • Issue #154 • View online

Dear reader,

This week China’s defense minister warned his US counterpart Friday in the pair’s first face-to-face talks, that Beijing will “not hesitate to start a war” if Taiwan declares independence.

Likewise, at its annual software conference this week, Apple said that “later this year,” with the release of its new iPhone software, it would roll out Apple Pay Later. This will tap into its existing Apple Pay service for in-app and online purchases, and let iPhone users in the US pay for things in installments—with no fees and zero interest—over six weeks.

In Fintech this week we see some of these layoffs hitting the industry, as well as several new partnerships and large funding rounds. You can find information about upcoming events, new investments, research and breakthroughs within the industry. In addition, find more ways to support Ukraine here. Happy reading!

From the Holland FinTech team, we wish you a great weekend.

Connect with the fintech ecosystem at some of the upcoming events.

London Tech Week - London Tech Week - 13 June

Be part of the future at London Tech Week. Don’t miss out on our anchor events, Global Leaders Innovation Summit, EQL:HER, ClimateTech, Elevating Founders, HealthTech Summit, Future of Work and so many more to gain time-critical industry insights and forge vital connections.

londontechweek.com • Share

TNW Conference 2022 - Holland FinTech

Visit Europe’s leading tech festival this June! The Must-Attend Event For ESG Leaders And FinTech Innovators Addressing The Challenge Of Environmental, Social And Governance Imperatives

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Point Zero Forum

Point Zero Forum is an exclusive invite-only, in-person gathering of select global leaders, founders and investors. A unique collaboration between the State Secretariat for International Finance Matters SIF and Elevandi, an entity set up by the Monetary Authority of Singapore (MAS).

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Highlights from last weeks news related to fintech

Weekly News Highlights - 9 June 2022 - Holland FinTech

Stay up to date with the latest news from fintech! This week, we bring you updates and developments on partnerships, lending, banking, crypto, NFT and more:

Global card issuing platform Marqeta has announced it works closely with Sweden-based BNPL platform, Klarna, to power its new Klarna Card
Razer Fintech, the financial technology arm of Razer, announced the acquisition of PT E2Pay Global Utama (E2Pay), an Indonesian B2B2C digital payment facilitators and e-money player
New Delhi-headquartered the Enforcement Directorate, which investigates financial crimes and violations of the provisions of foreign exchange, has told payment gateways and banks to freeze the accounts of around 100 fintech firms
Apple gets the world’s attention when it holds its developers’ conferences, as consumers, suppliers, and tech professionals all look forward to the latest innovations from the iPhone maker
Singaporean taxi operator ComfortDelGro Taxi has partnered with Alipay+ to enable mobile payments from Malaysia and South Korea through Touch ‘n Go eWallet and Kakao Pay respectively in all its Comfort and CityCab taxis
Ximedes, a Dutch software firm, has acquired Ginger, an Amsterdam-based online payment platform provider
San Diego-based startup Edge released the first “Confidential” bitcoin Mastercard which does not require know-your-customer (KYC) data used for collecting information related to identity, via an announcement from the company
TripleA, a digital payment token licensee, has been selected as the global cryptocurrency payment gateway for Binance Pay
Backbase — an Amsterdam-based startup that provides a platform that banks and others can use to better structure and leverage the data that they have, and to then use that to build more personalization and other new features into those banks’ customer-facing services — has raised €120 million

Read more about this week’s news here.

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The largest funding rounds we found from across the world

Weekly Funding Highlights - 8 June 2022 - Holland FinTech

Many more deals and transactions from fintech this week! This week’s prominent fundings are shared by multiple sectors, including fintech, payments, NFT and more:

Trade Republic (Berlin, Germany), which claims to be Europe’s largest savings platform, has announced a €250 million Series C extension
Juni, the Swedish e-commerce banking fintech, has raised a total of US$206mn in new financing. It includes US$100mn in Series B funding led by Abu Dhabi-based Mubadala Capital
CRED (Bengaluru, India), a Fintech unicorn has raised $140 Mn as part of its Series F funding round led by Singapore-based sovereign wealth fund GIC
Backbase (Amsterdam, The Netherlands), a startup that provides a platform that banks and others can use to better structure and leverage the data that they have, and to then use that to build more personalization and other new features into those banks’ customer-facing services — has raised €120 million
Pintu (Jakarta, Indonesia)-based cryptocurrency trading platform has raised $113 million in a Series B funding round. Investors in the round include Intudo Ventures, Lightspeed, Northstar Group and Pantera Capital
FlexiLoans.com (Mumbai, India), a MSME-focused fintech lending firm has raised around $90 million in series B funding from marquee investors
Other interesting funding rounds this week: Kissht (Mumbai, India), Series E funding round of $80 million, Bud (London, England), $80m

Read more about this week’s funding rounds here.

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A selection of recent research reports and papers worth reading

Weekly Research Highlights - 7 June 2022 - Holland FinTech

For this week’s research article, we dive into new insights on fintech market, banking, insurance, payments, trends, diversity in fintech and more.

“Fintechs, Finance Firms Snap Up Media Companies to Gain Audience ” via (Fintech News) - This past year has seen banks, financial services companies and fintech startups snapping up media companies, realizing the merits of owning their audience to gain exposure, sell more products and become more profitable.
“Study tour to learn about disruptive fintech” via (News UCT) - The University of Cape Town’s (UCT) MPhil in Financial Technology class of 2021, along with the newly established Algorand–UCT Financial Innovation Hub, recently travelled to Zug and Zürich in Switzerland to learn more about disruptive fintech technologies.
“The inevitability of risk: why spend management is key for business in unpredictable times ” via (Fintech Futures) - Every company is subject to a degree of financial risk and the past few years has taught business owners, and their respective finance teams, that uncertainty is the new certainty.
“Male Workers Currently Outnumber Females 2-to-1 in the UK Fintech Industry, Report Finds” via (Bloomberg) - The UK’s fintech industry must attract more women to its workforce and create a more inclusive environment in the fight for talent, according to new research that shows the burgeoning sector has less gender diversity than the broader finance industry.
“Tech Trend Report 2022 ‘Looking ahead’” via (Rabobank) - The Technology Trend Report of 2021 was, in fact, a break from the trend. We switched from listing the new technologies to delving into their impact on major social themes. It turned out to be spot on, appealing much more to our readers. This year we are taking it even further: straight into the future; how tech can help us build the future we strive for.

Read more about this week’s research here.

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Background information and insights from opinion leaders and experts

Weekly Analysis and Opinion Highlights - 6 June 2022 - Holland FinTech

And we’re ending the week with new details on crypto, money transfer, fintech funding, payment process, debt crisis and more.

“Banks Plan on Tripling their Use of Cloud by 2025” via (Fintech News) - Though cloud adoption in the banking industry has increased steadily over the past years, adoption is projected to accelerate significantly as bank seek to automate processes, apply advanced analytics to data, and enhance their ability to embed partners like fintechs.
“Rize Publishes New Whitepaper Covering the Future of Fintech 3.0” via (Yahoo Finance) - Rize Money Inc., a fintech infrastructure platform, today released a sequel to their original industry insight whitepaper in which they outline how the industry has developed from Banking as a Service (BaaS) 1.0 to where it is today and what current trends are for the future of Fintech 3.0.
“Mambu: Malaysians Want Their Banks to Become More Sustainable in the Future” via (Fintech News) - More than three quarters (77%) of Malaysian consumers want their bank or financial institution to become more sustainable in the future, according to a new report from cloud banking platform Mambu.
“Ghana to use fintech as engine for inclusive growth” via (NewsGhana) - Israel, a global leader in innovation and financial technology (fintech), is supporting Ghana through collaboration with startups to scale up and provide creative solutions to drive financial inclusiveness and development.
“SPAC Bubble Ready to Burst, Market Researcher Audit Analytics Says” via (PYMNTS) - Less than 18 months ago, special purpose acquisition companies (SPACs) were the hottest thing that everyone touted, with former NBA star Shaquille O’Neal having one, as well as tennis professional Serena Williams and ex-MLB great Alex Rodriguez, among others.

Read more about this week’s analysis and opinion here.

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