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Global FinTech News - 13 May 2022

Global FinTech News - 13 May 2022
By Holland FinTech  • Issue #150 • View online
Dear reader,
This week Eurostat revealed which EU countries are most affected by inflation, after stats predicted a record spike of 7.5% percent within Europe. The most affected countries include Estonia, Lithuania and Latvia. On the other hand, the least affected were Finland, France, and Malta. Similar to this, the European Central bank revealed it plans to increase its policy rate starting July, in order to challenge high euro zone inflation.
Further, in fintech, you can ​discover the latest developments and news, and stay current on global fintech perspectives. 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.

#XFW is a project for the fintech community, by the fintech community. So whether you run a startup or work at an insurer/ a bank, whether you care about payments or pensions or whether you are a techie or a business person - this week is for you!
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Connect with the fintech ecosystem at some of the upcoming events.
The Banking Scene Conference 2022 Brussels - 17 May
On May 17, our flagship event and Belgium’s largest banking conference is back with more than 400 professionals. You will have the opportunity to network with executives, peers and luminaries from across the industry. Inspire and be inspired.
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Flash Friday: Staying Ahead Of The Fintech News - 20 May
Holland Fintech’s Founder & CEO, Don Ginsel, presents Flash Friday – a weekly live show that brings you the latest Fintech news and developments!
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Open Banking World Congress - 24 May
500 leaders will converge in Marbella this May, they will be privy to commercial and strategic insights, from both on-stage and numerous off-stage discussions. Join us and you will be in a prime position to benefit from all the opportunities this will present.
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FinTech meets the Regulators: Connecting the Financial Ecosystem with Smart Supervision - 1 June
Because Technological developments are changing the financial world at an ever increasing pace - DNB and Holland FinTech invite you to the 6th edition of FinTech meets the Regulators!
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Highlights from last weeks news related to 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.
  • London financial services firm Ebury signed a deal to acquire Brazilian FinTech Bexs in a move to broaden Ebury’s offerings of global money transfer solutions for small- to medium-enterprises (SMEs).
  • If you are an Apple user in India and have not yet seen a payment issue on your devices, you very soon will. Apple has stopped accepting card payments, both debit and credit, for subscription payments and app purchases done with Apple ID in India.
  • US Bank has announced a collaboration agreement with trade finance fintech LiquidX to help accelerate and simplify supply chain transactions.
  • Open Banking platform TrueLayer has announced its collaboration with innovative fintech firm Lemonade Finance.
  • Nigeria’s central bank has upgraded its eNaira to steer the country away from crypto even after a UN report stated that restrictions on digital currencies are stifling the nation’s fintech sector.
  • Venture capital continues to target crypto and fintech for funding, with Web3 emerging as a major trend in 2022.
  • The two main tokens from embattled stablecoin Terra went into free fall Wednesday as it plunged to as low as 26 cents.
Read more about news here.
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The largest funding rounds we found from across the world
Many more deals and transactions from fintech. This week’s prominent fundings are shared by multiple sectors, including fintech, payments, NFT, and more.
  • Dock (Sao-Paolo, Brazil), which operates a full-stack payments and digital banking “platform” across the region, where demand for financial infrastructure that can help boost inclusion is massive. The startup has raised $110 million (EUR 105,9m) in a growth funding round
  • Tifin (Boulder, Colorado), a startup, which aims to match investors with investments in the wealth and asset management industries, announced today that it has raised a $109 million (EUR 105,9m) Series D round, less than a year after its Series C last October.
  • Talos, a New York-based institutional digital asset trading technology platform provider, raised $105M (EUR 101,1m) in series B funding that values the company at $1.25 billion.
  • Egyptian fintech Paymob, which enables merchants to accept digital payments online and in-store, announced today it has raised $50 million (EUR 48,1m) in Series B funding.
  • Fintech startup Vivriti Capital (Chennai, Tamil Nadu, India) has raised an additional $30 Mn (EUR 28,9m) in a Series C funding round from TVS Shriram Growth Fund 3, a private equity fund managed by TVS Capital.
  • Other notable funding includes: Ness Raises $15.5M (EUR 14,9m) in Seed Funding, Cushion Raises $12 Million (EUR 11,6m) in Series A Funding and Paper Raises $9.3M (EUR 8,96m) in Seed Funding.
Read more about funding here.
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A selection of recent research reports and papers worth reading
For this week’s research article, we dive into new insights on fintech market, banking, insurance, payments, trends, diversity in fintech and more.
  • “India Has More Fintech Adopters At 87% Compared To Global Average Of 64%: Report” via (INC42) - According to a report by NewsVoir, the fintech market is estimated to grow $150 Bn by 2023 with new businesses springing up and global investment pouring in.
  • “IRIS Risk report now includes the ICIJ Offshore Leaks database” via (Web-IQ) - The Dutch Central Bank DNB published last January that they expect from supervised institutions like banks, payment providers and trust offices that they use information like the leaked papers to determine the risk profile and if necessary, carry out additional investigation and take adequate measures.
  • “The Corporate Hitchhiker’s Guide to the Metaverse” via (BCG) - It has taken 30 years since the term was coined in 1992, but big money has now moved into the metaverse—accompanied by big hype.
  • “Ten FinTech Trends to Follow in 2022” via (Finextra) - The pandemic provoked a crisis in many industries, including FinTech. Due to quarantine measures, banks, credit institutions, and insurance companies had to close their branches temporarily.
  • “5 mobile financial service providers in Bangladesh” via (IBS Intelligence) - The FinTech market in Asia-Pacific is expected to cross $150 billion by 2025, as per research. According to EY Global FinTech Adoption Index 2019, China and India led the FinTech Adoption Index at 87%. Bangladesh, a neighbouring country is also accelerating its FinTech adoption by leveraging mobile technology.
Read more about research here.
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Background information and insights from opinion leaders and experts
And we’re ending the week with new details on crypto, money transfer, fintech funding, payment process, debt crisis and more.
  • “Inside the scandal at Flutterwave, Nigeria’s fintech champion” via (Rest of the World) - Former employees allege bullying, mismanagement and serious administrative errors at the startup, which is valued at more than $3 billion.
  • “Asset management challenges of the fintech era” via (Law Assia) - While disrupting daily lives and consumer behaviour, the covid-19 pandemic has also accelerated innovation of investment channels and approaches.
  • “How fintech solutions can bridge the trade financing gap” via (Wamda) - Ankit Goel is the Middle East and North Africa head of MODIFI, a a global fintech company that helps small and medium-sized businesses finance and manage their international trades The pandemic’s impact on trade and supply chains was significant and in turn, also impacted economic growth and well-being.
  • “Block Is Wall Street’s Top Fintech Despite Its Price Tag” via (Bloomberg) - Wall Street loves Block Inc. — even with a valuation that’s frothier than tech high fliers like Tesla Inc. and Amazon.com Inc.
  • “Banks want to be venture builders too” via (Euromoney) - As their involvement in fintech matures, large banks are focusing on building standalone digital businesses rather than just taking stakes in third-party startups through venture capital funds and accelerators.
Read more about analysis and opinion here.
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