Weekly News Highlights - 19 August 2021
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Weekly News Highlights – 19 August 2021

Stay up to date with the latest news from fintech! This week, we bring you updates and developments on blockchain, payment, expansion deals, fintech and banking. Enjoy reading! 

US Fintech Firm Brex Acquires Israel Startup Weav for $50M (No Camels)

US fintech company Brex announced on Tuesday it has acquired Israeli startup Weav, a company that offers a universal API for commerce platforms. The acquisition allows Brex to expand its global presence by establishing an innovation hub in Israel. Read more

Fintech Grows Greener: ESG-Focused Aspiration Lands $2.3 Billion Deal To Go Public Via SPAC (Forbes)

In the latest testament to the explosive growth of both fintechs and sustainable investing, Los Angeles-based digital bank Aspiration Partners has landed a deal to become the first publicly traded fintech firm focused primarily on socially responsible spending, saving and investing. Read more

Indonesia and Thailand Launch Instant Cross-Border QR Payment Linkage (Fintech News.SG)

Bank Indonesia (BI) and the Bank of Thailand (BOT) launched a cross-border QR payment linkage between Indonesia and Thailand today. Under this linkage, consumers and merchants in both countries will be able to make and accept instant cross-border QR payments for goods and services. This connection is the first that links the retail payment system operators in both countries. Read more

CBN freezes four fintech firms’ accounts (The Guardian)

The Central Bank of Nigeria (CBN) has secured a court injunction to freeze the bank accounts of four financial technology (fintech) firms for operating as asset management companies without license. The affected companies are Rise Vest Technologies Limited, Bamboo Systems Technology Limited, Chaka Technologies Limited, and Trove Technologies Limited. Read more

US Bank acquires SME expenses firm Bento Technologies (The Fintech Times)

US Bank is set to acquire Chicagoan technology vendor Bento Technologies in an undisclosed deal. US Bank says the deal is part of its “vision” for bringing payments and banking services together to “simplify cash flow and money management” for SME customers. Read more

 NN Group and Goldman Sachs reach agreement on the sale of NN IP (NN – Group)

NN Group announces that it has reached an agreement to sell its asset manager NN Investment Partners (NN IP) to Goldman Sachs Group, Inc. for total cash proceeds of EUR 1.7 billion, consisting of a base purchase price of EUR 1,515 million, a ticking fee and excess capital to be distributed in the form of a dividend before completion. Read more

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