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Global FinTech News - 12th of March

Global FinTech News - 12th of March
By Holland FinTech  • Issue #89 • View online
Dear reader,
With European markets close higher, building on rally after ECB announced further stimulus, and the EU Parliament, declaring the European Union an ‘‘LGBTIQ Freedom Zone’’, we bring to you further updates from fintech. Get ready to dive into the top trends in the sector, find out key insights and explore industry thought leadership, ranging from M&A, IPOs, collaborations, partnership dissolvement, fintech unicorns, key global players and more!
This morning, our Founder & CEO, Don Ginsel, explored the latest developments in software development with our new live streamed session of Flash Friday, co-hosted by Hachem Ohlale, Lead Business Analytics & Data Science at Synechron Netherlands. Check out the video recording here.
From the Holland FinTech Team, we wish you a good weekend!

Submit your response by 15th March 2021
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Highlights from last weeks news related to fintech
M&A, partnerships, collaborations, IPOs, crypto. Dive into this week’s recap from fintech:
  • Wipro, an Indian IT, consulting and BPO business is looking to acquire British tech Capco
  • PayPal is looking to acquire – Curv – a cryptocurrency startup based in Tel Aviv, Israel
  • Ripple, a payments technology platform using cryptocurrency (XRP), shared that it has ended its partnership with Moneygram, a cross-border P2P payments and money transfers company
  • Greensill Capital, a large UK lender, filed for insolvency earlier this week, raising concerns that the failure puts jobs at risk at one of its biggest borrowers, the metals manufacturer GFG Alliance Group
  • Coinbase Global’s shares last week indicated a $90 billion valuation ahead of the firm’s imminent public listing of the cryptocurrency firm
  • Citi, a US based global banking conglomerate, announced a new offering, which will streamline the cross-border payments process for institutional clients through a single electronic platform
Read more about this news HERE.
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The largest funding rounds we found from across the world
Neobanks, crypto, tax, online brokers. Curious to explore the latest transactions and deals from the fintech sector? Read through the selection of fundings, selected from 3 March to 10 March, and check out February Funding Infographic for more details:
  • Starling (London, UK), a digital challenger bank, announced that it has closed $376 million (€315,34m), at a pre-money valuation of £1.1 billion
  • Nydig (New York, US), a provider of technology and investment solutions for Bitcoin, raised $200m (€167,74m) in growth funding
  • TaxBit (Salt Lake City, UT, US), a provider of cryptocurrency tax and accounting automation software, raised $100M (€83,87m) in Series A funding
  • WeLab (Hong Kong, China), a fintech company offering virtual banking and consumer financing solutions, raised $75M (€62,99m) led by insurance firm Allianz
  • Xendit (Jakarta, Indonesia), a digital payments infrastructure for Southeast Asia, raised $64,6m (€54,18m) in Series B funding, led by Accel with participation from YCombinator
  • Nextmarkets (Köln, Germany), a commission-free online broker, received $30 million (€25,16m) in a Series B financing round
  • Other fundings which we found relevant for this week: Rewire (€16,77m), Adumo (€12,58m), Countingup (€10,63m), FutureFuel.io (€8,39m), Hepster (€8,39m), Symbo Platform (€7,88m), Countingup (€7,64m), Flowcast (€2,52m), Unslashed (€1,68m)
Read more about this funding news HERE.
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A selection of recent research reports and papers worth reading
Take a closer look at research stats, analytics and graphs depicting the financial ecosystem:
  • “RegTechs solving KYC and AML continue to make up biggest chunk of the industry” (FinTech Global) - the RegTech industry has grown to the point where companies in the space offer solutions to solve many of the regulatory issues in financial services
  • “Who`s Who in Open Banking 2021” (The Paypers) - this report presents an accurate mapping of the global key players’ ecosystem and a series of services and solutions that Open Banking players are offering in their quest to keep up with the ever-changing customer needs and expectations
  • “Open Future World Case Studies E-book” (Open Future World) - this e-book comes as a collaborative effort to share some of today’s most interesting examples of open banking
  • “Frictionless Finance Report” (DirectID) - this report offers the latest insights into Open Banking, FinTech, and consumer experience
  • “Where Top US Banks Are Betting On Fintech” (CB Insights) - we visualize where US banks are placing strategic bets on fintech companies across payments, capital markets, SMB, real estate
  • “Google Is Partnering With Cyber Insurance Giants” (CB Insights) - after Google’s partnership announcement with Munich Re and Allianz, cybersecurity and cyber insurance have become more prominent topics. With companies migrating their operating systems in a cloud environment, data protection remains a weak spot
  • “FinTech Futures Industry Survey & Report 2021” (FinTech Futures) - 2021 has set the scene for banks and financial institutions to carefully re-examine their legacy technology. Consumers have shifted their preferences from the physical to the digital
Read more about the research papers and download the pdf’s HERE.
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Background information and insights from opinion leaders and experts
Get the most accurate opinions from fintech leaders, and analyze recent debates, pros and cons, and spiralling trends:
  • “Tackling unconscious gender biases in wealth management” via FinTech Futures - Yaela Shamberg, Co-founder and Chief Product Officer at InvestCloud, highlights the recurring gender gap within the wealth management industry
  • “Breaking Encryption Myths” via Global Encryption Coalition - this report highlights the importance of preventing crime and keeping people secure online is a universal priority
  • “Walmart’s Fintech Ambition: A Super App, Not The ‘Bank Of Walmart’” via Forbes - Ron Shelvin, Senior Contributor at Forbes, dives into why Walmart is moving into planning a “fintech” business unit
  • “Redefine the Branch to Build Sustainability in the Future of Banking” via Finextra - Tushar Chitra, VP, Product Strategy and Marketing at Oracle, explains the outdated method of the branch as a servicing outpost
  • “The company now dominating European fintech is… Paypal” via Sifted.eu - Isabel Woodford, fintech journalist at Sifted.eu, pinpoints the most important names from fintech in terms of dominant EU players
  • “Budget 2021: Fintech omission disappoints” via Bobsguide.com - Tom Lemmon, writer at Bobsguide.com, explores the aftermath of the speech given on March 3rd by Chancellor Rishi Sunak, who failed to specifically mention the sector in his Budget announcement.
  • “Fiscal Follies in the COVID Recovery” via Project Syndicate - Daniel Gros, Director of the Centre for European Policy Studies, reviews whether additional stimulus is required with governments in advanced economies continuing to keep the fiscal taps open
Read more about these analyses & opinion pieces HERE.
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Connect with the fintech ecosystem at some of the upcoming events
With the ever-increasing volume of online purchases and transactions, the need for sophisticated identity solutions is also growing exponentially. How can a digital identity be trusted? Join our Online Event to find out!
Register HERE.
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Venture Summit Virtual Connect West - 16th-18th March
Holland Fintech invites you to join over 200 leading VCs, Corp VCs, Angel Investors and over 100 Top Innovators at #VSVC Venture Summit Virtual Connect West.
Register HERE.
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Futuristic X Middle East- Hybrid - 16th March
Themed on driving customer experience through disruptive technologies, this event will be hosted on site for live audience (Conrad Hotel, Dubai) and on a virtual platform simultaneously.
Register HERE.
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FTT Identity - 17th March
FTT Identity is an online event launching 17th March 2021. Kicking off at 11AM GMT, we will capture an international audience from Europe to North America.
Register HERE.
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DIGITECH Expo - 17th-18th March
Electronics and Computer Software Export Promotion Council (ESC), sponsored by the Government of India is India’s premier ICT trade promotion organization.
Register HERE.
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Finovate Europe Digital - 23rd-25th March
See cutting-edge fintech you can deploy now, hear from experts who can help you plan for a digital future, and connect with people who can help you take your business to the next level.
Register HERE.
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Ready to get involved? Click here to find out more.
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