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Weekly News Highlights – 25 March 2021


The latest fintech news that we bring you are Robinhood’s IPO, Pensonbee’s plan for London Stock Exchange, FNZ’s blockchain fund trading, Feedzai earning the unicorn status, Plaid’s announcement on its accelerator program, Wirex’s decision on customers recruiting, fintech partnerships, and Revolut’s banking licence status. Dive into the updates and enjoy the selection of materials!

Robinhood files for IPO

After the  much discussed news on Robinhood temporarily banning users from buying dozens of stocks, that led the company to the filing of around 46 putative class actions and three individual lawsuits, the firm is announcing its plans for an IPO. Robinhood intended to go public on the Nasdaq earlier this month, although it is not yet clear whether the firm will opt for a traditional IPO or a direct listing. Read more

Pensionbee plans to list on the London Stock Exchange

Pensionbee, an online pension provider, announced its plans to list on the London Stock Exchange’s main market. Pensionbee said it planned an institutional offering and an offer for existing customers, with shares to be admitted to the high growth segment of the London Stock Exchange’s main market. Read more 

FNZ goes live with blockchain-based fund admin system

FNZ, a wealth management platform, has begun its blockchain-based fund trading, ChainClear and settlement system in the South African funds market. The distributed ledger is currently processing hundreds of thousands of trades and other transactions on behalf of 140 South African financial institutions every week, which marks a significant milestone in the development of FNZ ChainClear. Read more

Feedzai Raises $200 Million, Earns Unicorn Status with Billion Plus Valuation

Feedzai, an anti-financial crime company, has secured a growth investment of $200 million in the series D round led by KKR, and featured participation from existing investors Sapphire Ventures and Citi Ventures. The raise boosts the company’s total capital to $277 million,  gives the risk management platform a valuation “well over $1 billion” and brings unicorn status for the company. Read more

Plaid announces the inaugural cohort of startups in its new program

Plaid, a fintech company, has announced the inaugural cohort of startups in its new accelerator program, FinRise. 5 early-stage fintech startups out of 100 applications have been chosen to join the cohort. The accelerator is explicitly focused on backing underrepresented founders in tech. Read more 

Wirex decides to pause recruiting new UK customers

Wirex, a digital payment platform for the growing token economy, has decided to pause recruiting new UK customers as of 24th March 2021. The company will dedicate resources to further strengthen its AMLD5 compliance protocols, conforming with the updated best practice guidelines set by the UK regulator. Read more 

Fintechs joints forces to equip kids with bank accounts and financial literacy

Goalsetter, a platform that helps parents teach their kids financial literacy, signed up a new cohort of 1 million children for savings accounts. Several companies and organizations across various sectors, including Sterling Bancorp, have joined in by seeding savings accounts and sponsoring subscriptions to the Goalsetter app. They believe that by forming relationships with young savers, banks can convert kids into valuable lifelong customers since kids who save money early are more likely to become adults who attend college, own stocks and exhibit other positive financial behaviors. Read more

Revolut applies for US banking licence and launches business accounts

Revolut, a digital challenger bank, has submitted a draft application for its US banking licence and launches business accounts in all 50 states. In January 2021, Revolut also finally submitted its application for a UK banking licence after operating in the UK for over five years without one. Read more

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