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Global FinTech News - 17th June 2022

Global FinTech News - 17th June 2022
By Holland FinTech  • Issue #155 • View online
Dear reader,
This week the European Commission on Friday recommended war-torn Ukraine be formally named a “candidate” for joining the EU, a move that could open up a years-long path toward joining the bloc. The EU’s 27 member states have to give the green light to grant Ukraine “candidate status” and leaders are set to discuss it at a summit in Brussels next week.
In Fintech this week we see some of these layoffs hitting the industry, as well as several new partnerships and large funding rounds. 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.

Connect with the fintech ecosystem at some of the upcoming events.
Point Zero Forum - 21 June
Point Zero Forum is an exclusive invite-only, in-person gathering of select global leaders, founders and investors with the purpose of Developing new ideas to advance the Future of Financial Services
www.pointzeroforum.com  •  Share
The secret to hyper-growth for merchant acquirers - 22 June
Our experts discuss how merchant acquirers can achieve hyper-growth without the need to scale their fraud teams or sacrifice security.
hollandfintech.com  •  Share
Google Cloud Startup Summit - 22 June
Come take part in the Google Cloud Startup Summit and hear the latest announcements about how we’re investing in and supporting the startup ecosystem.
hollandfintech.com  •  Share
Fintech Belgium Open Finance Meetup & Summer BBQ - 23 June
Join FinTech Belgium for their last meet up of the season, deep dive into the results of the 3rd Barometer on Open Finance organised by FinTech Belgium & Pulse Consult. An exclusive opportunity to enjoy our summer barbecue with the community before a well deserved summer break.
hollandfintech.com  •  Share
European Blockchain Convention - 27 June
European Blockchain Convention 2022: The most influential blockchain & crypto event in Europe is back in Barcelona
hollandfintech.com  •  Share
Banking Transformation Summit l London, 29th June 2022
50 industry leading speakers discuss the internal and external factors disrupting banking. Gain inspiration and confidence for the next step on your transformation journey.
bankingtransformationsummit.com  •  Share
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:
  • The Monetary Authority of Singapore (MAS), in partnership with the International Finance Corporation (IFC) and the United Nations Development Programme (UNDP), has launched an open financial education and action programme for micro, small and medium enterprises (MSMEs) in Asia and Africa
  • Ascenda, the global loyalty technology company, announces a strategic partnership with Banque Saudi Fransi (BSF), the leading Saudi bank that has established itself as the most innovative financial services company in the region
  • The German Sports Betting Association (DSWV) has entered into agreements with three different fintech groups, as it seeks to bolster its payments and compliance operations
  • Celsius – one of the largest cryptocurrency lenders — has locked up all of its customers’ assets after this week’s market crash
  • Klarna Bank AB is considering raising fresh funds at a significantly lower valuation than it achieved a year ago, according to people familiar with the situation, a sign of the punishing environment for tech companies
  • Fintech lender Uncapped, which provides startups with financing without taking an equity stake, has acquired app and gaming funding platform Sugar
  • MFS Africa, Africa’s largest digital payments network, has reached an agreement to buy Oklahoma US-based Global Technology Partners (GTP), a top prepaid card processor in Africa
Read more about this week’s news here.
hollandfintech.com  •  Share
The largest funding rounds we found from across the world
Many more deals and transactions from fintech this week! This week’s prominent fundings are shared by multiple sectors, including fintech, payments, NFT, and more.
  • Sweden-based Juni, which describes itself as “the financial companion for e-commerce”, has closed its Series B funding round, raising $100 million (95.5m EUR) in funding and $106 million (101.2m EUR) in venture debt financing.
  • Pan-African digital payments network MFS Africa has raised $100 million (95.5m EUR) in equity and debt, additional funding that takes its Series C round to $200 million (191m EUR).
  • PayCargo (Coral Gables, FL, US), which built a platform to bring one key aspect of it — how companies in the business of shipping products and specifically consumer goods pay each other — into the modern and digital age, is announcing $130 million (124.1m EUR) in funding to expand its platform.
  • Backbase (Amsterdam, The Netherlands), has raised $130 million (124.1m EUR) in a series A round, the company announced this week.
  • Quext, a Texas-based technology company that offers a cutting-edge technology platform for the multifamily industry, today announced that it secured $63 million (60m EUR) with support from a network of private investors.
  • Other notable funding: Flip raises further US$55mn (52.5m EUR) for its P2P payments platform, Aramco’s Wa’ed leads a $50m (47.8m EUR) Series B Funding Round in Islamic Fintech Wahed, and Airbank raises $20m (19.1m EUR) to build “the most comprehensive global SMB banking solution.
Read more about funding rounds here.
hollandfintech.com  •  Share
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.
  • “Tech Trend Report 2022 ‘Looking ahead” via (Rabobank) - The Technology Trend Report of 2021 was, in fact, a break from the trend. We switched from listing the new technologies to delving into their impact on major social themes.
  • “FIs in the CEE region interested in fintech innovation, digital currencies, regtech – study finds” via (The PayPers) - Unchain Fintech Festival has collected data from top banking and fintech representatives for a market study called Fintech Under the Spotlight focused on the CEE region.
  • “Why BaaS is transforming the financial services space” - (Fintech Magazine) - We look at the latest changes in the BaaS space, taking into consideration new technologies, marketplace demands and changes in the financial landscape.
  • “IIT-Madras research park analyses how inclusive is fintech in new report” via (Times of India) - Despite all innovation in financial services sector and the reinvention of payment systems by way of UPI platform and other tech in recent years, India society is heterogeneous and still reels from fundamental financial inequities.
  • “African Fintech Funding Forecast to Double in Just 3 Years” via (ITNewsAfrica) - New research for blockchain-based mobile network operator World Mobile shows that African business leaders are forecasting a surge in spending on tech start-ups as foreign direct investment and improved internet connectivity help establish the continent as a tech superpower.
Read more about research here.
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Background information and insights from opinion leaders and experts
We’re ending the week with new details on crypto, money transfer, fintech funding, payment process, debt crisis and more.
  • “Digital banking should be the cornerstone of every small business’ tech strategy” via (Fintech Futures) - Sometime last year, the phrase “post-pandemic” officially entered the mainstream dialogue.
  • Is the global housing market heading for a downturn? via (AFR) - A series of interest rate increases by many of the world’s central banks has stalled the pump that had been rapidly inflating global house prices.
  • “Why trade finance should embrace blockchain to realise its digital ambitions” via (Fintech Futures) - The digitalization of the trade finance sector is long overdue.
  • “Which Fintech Stock Could Emerge Stronger from the Recent Selloff?” via (Investor Place) - Soaring inflation, high interest rates and geopolitical tensions continue to drag down the broader market, most particularly growth stocks.
  • “Money 20/20 Europe: How is the rise of fintech transforming the next generation of banking?” via (Fintech Futures) - At Money 20/20 Europe in Amsterdam, Standard Chartered’s Kahina Van Dyke took to the stage to discuss an unfolding “cultural revolution” in financial services.
Read more about analysis and opinion here.
hollandfintech.com  •  Share
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