Stay up to date with the latest news from fintech! This week, we bring you updates and developments on partnerships, payments, investments, asset management, crypto and more. Enjoy reading!
Klarna and GoCardless to Power Bank Debit Payments in the US (Fintech News)
Global buy now pay later (BNPL) solution provider Klarna has partnered with UK-headquartered account-to-account payments solution provider GoCardless. The partnership will enable Klarna to provide bank debit payments to over 21 million US customers, a statement from Klarna said. More specifically, GoCardless will support the Swedish company’s Pay in 4 interest-free payment offering and monthly financing solution. Read more.
PolicyBazaar’s holding firm PB Fintech to acquire MyLoanCare (The Hindu Business Line)
PB Fintech — parent of online insurance and credit comparison platforms Policybazaar and Paisabazaar — will acquire Gurugram-based loan marketplace MyLoanCare for ₹40.41 crore. It will initially acquire 24.93 per cent equity stake in MyLoanCare Ventures and in the second stage, increase its shareholding to about 70.1 per cent. The acquisition (in two stages) is expected to be completed in six months. Read more.
Deutsche Börse closes deal for majority stake in Crypto Finance AG (The Block)
German exchange operator Deutsche Börse Group said on Thursday it has completed the acquisition of a majority stake in Swiss fintech firm Crypto Finance AG. The deal, which was first signed in June, will mean Deutsche Börse can provide a direct entry point for investments in digital assets, including post-trade services such as custody. Read more.
Visa makes latest foray into fintech with Belvo investment (AltFi)
Visa’s investment in open finance API platform Belvo follows its recent purchase of Tink and Currencycloud along with other investments in fintech. Belvo, which has been likened to a South American Plaid, works with more than 50 financial institutions and over 125 clients, including fintechs, in Mexico, Brazil and Colombia, through its API platform. Read more.
Polaris Partners With Fintech Company Octane (Benzinga)
Polaris Inc PII +0.29% (Get Free Alerts for PII) has signed a multi-year partnership with fintech company Octane Lending Inc to provide customers with the digital process for financing Powersports purchases, effective January 1, 2022. Through the partnership, Polaris customers and dealers can make use of Octane’s digital lending to finance Polaris Sportsman, RANGER, RZR, & GENERAL off-road vehicles, Polaris snowmobiles, Indian Motorcycle, and Slingshot vehicles. Read more.
Binance and Telkom Indonesia’s MDI to Develop a Local Digital Asset Exchange (Fintech News)
Crypto exchange platform Binance has established a joint venture with a consortium led by MDI Ventures to develop a new Indonesian-based digital asset exchange. MDI is a US$830+ million multi-stage venture capital arm of Indonesia’s largest telecoms company, Telkom Indonesia. Binance will provide its asset management infrastructure and technology to support the development of the new exchange platform. The company said that the consortium has collectively developed the biggest digital and financial technology ecosystems in Indonesia, and has access to more than 170 million consumers in the world’s fourth most populous country. Read more.
European Fintech IPO Company 1 and Azerion Will Host a Shareholder Update Call on 16 December 2021 (GlobeNewswire)
European FinTech IPO Company 1 B.V. (“EFIC1”), a special purpose acquisition company (SPAC) incorporated under the laws of the Netherlands and listed on Euronext Amsterdam (symbol: EFIC1), announced on Monday 13 December 2021 in a joint press release with Azerion Holding B.V. (“Azerion”), a high-growth digital entertainment and media company, that they have reached an agreement to create a business combination (the “Business Combination”), pursuant to which EFIC1 will acquire 100% of the issued and outstanding share capital of Azerion. The rationale for the Business Combination, the envisaged structure of the transaction and additional information regarding Azerion and the Business Combination is further described in the aforementioned joint press release, shareholder circular and investor presentation. Read more.
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