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Global FinTech News - 17th September 2021

Global FinTech News - 17th September 2021
By Holland FinTech  • Issue #116 • View online
Dear reader,
In Europe, wholesale prices for gas and electricity are surging, potentially further raising already-high utility bills. At the same time, across countries Covid-19 measures are tuned down, together with the rise of vaccination grades as well as often debated use of mandatory proof of vaccination or negative test to enter public life.
Meanwhile, we are back with the news in fintech, exploring the latest news, investments, reports and opinions on fintech, cybersecurity, cryptos, banking, partnerships, payments and more! In any case be sure to check out the event section at the bottom.
Money20/20 Europe is having one of the first-after-Covid physical conferences in Amsterdam, next week. Be sure to meet us there!
From the Holland FinTech team, we wish you a sunny weekend!

Highlights from last weeks news related to fintech
Explore the latest fintech news for this week and dive into topics regarding new partnerships, acquiring, Bitcoin, crypto and e-wallets:
  • Goldman Sachs is acquiring fintech lender GreenSky for $2.24 billion as the investment bank pushes further into consumer finance
  • Neobank MoneyLion announced the launch of its new cryptocurrency capabilities, enabling customers to buy and sell digital currencies within its app
  • Pagaya agreed to go public through a merger with special-purpose acquisition company (Spac) EJF Acquisition Corp in a deal with an enterprise value of US$8.5 billion (S$11.4 billion)
  • Nubank has formed a partnership with SoftBank-backed lending fintech Creditas to offer loans to its clients
  • Citi has joined forces with BNY Mellon and wireless network operator Verizon to launch a real-time bill payment service for retail customers
  • Allied Payment Network has launched a bitcoin wallet app for banks and credit unions on Finastra’s FusionStore
Read more about this week’s news HERE.
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The largest funding rounds we found from across the world
This week’s prominent fundings are shared by multiple sectors, including banking, BNPL, payments, fintech, check outs and more. Take a look at the fintech deals selected from 8th - 16th September:
  • 10T Holdings (Greenwich, CT, US), a mid-to-late-stage private equity firm focused on companies operating in the digital asset ecosystem, closed its growth equity funds, with nearly $389m in capital commitments
  • Varo Bank (San Francisco, CA, US), an all-digital, nationally chartered bank, closed a $510m (€431.6m) funding round
  • DivideBuy (Stoke-On-Trent, England, UK), a buy now pay later (BNPL) provider, received a £300m (€351.4m) lending facility
  • SpotOn (San Francisco, CA, US), a software and payments company with comprehensive solutions for restaurants and retail businesses, raised $300m (€253.8m) in Series E funding
  • Aviatrix (Santa Clara, CA, US), a cloud networking and network security company, raised $200m (€169.2m) in Series E funding
  • Scalapay (Milan, Italy), a payment solution that enables customers to buy now and pay later (BNPL) without interest, raised $155M (€131.1m) in equity funding as part of their Series A round
  • Other interesting funding rounds for this week: Nuula $120m (€101.5m), Amagi $100m (€84.6m), Tricolor $90m (€76.1m), Vouch $90M (€76.1m), Wisetack $45M (€38m), Sprinque €1.7 M
Read more about the funding news HERE.
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A selection of recent research reports and papers worth reading
Explore the numbers and trends from fintech regarding ccrypto, online payments, transactions, cybercrime and many more insights:
  • “International Payments Likely To Incur 30% Loss; BlueSnap Survey Finds” (Fintech Times) - This work analyzes findings that the online payments solutions company BlueSnap has published, regarding the key challenges businesses face when completing cross-border payments
  • “GoCardless Survey Highlights the Domino Effect of Late Payments on UK Business” (Fintech Times) - This publication analyzes a new research which suggests that a single late payment doesn’t just affect the business immediately involved, but triggers a domino effect that tumbles down the entire payment flow
  • “Bahrain’s Cashless Payments Surged by 65% In August” (Fintech Times) - This report explores new research from the Central Bank of Bahrain (CBB), which has revealed how the number of POS and eCommerce transactions in the country sky-rocketed by 65% in August, reaching a total value of nearly $744 million during the month; after topping $3.62 billion in the first half of 2021
  • “Scouring Eastern Europe’s Crypto Crime Landscape: A Report” (Fintech Times) - This work highlights the fact that addresses based in Eastern Europe have the second-highest rate of exposure to illicit addresses
  • “Analytical Finance Professionals Will Lead the Way in Data-Driven Organisations” (Fintech Times) - This publication points out that analytical and programming skills are considered key ingredients for successful financial professionals, according to findings from the latest FinTech Barometer by fintech Visma | Onguard
  • “50% Of Companies Have Experienced Cybercrime at the Hands of the Same Attacker” (Fintech Times) - This report elaborates on the fact that 50% of businesses worldwide have experienced recurring attacks from the same hackers, with companies in the United Kingdom suffering the most
Read more about these research papers HERE.
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Background information and insights from opinion leaders and experts
Learn more from fintech experts about security, crypto, payments, open banking, ransomware and more:
  • “The cyber-resilience shortfall: are banks underprepared for a data breach?” via (Fintech Futures) - Jon Fielding, managing director EMEA, Apricorn, analyzes the fact that more than a third (36%) of UK financial services organisations have been reported to the Information Commissioner’s Office (ICO) for a data breach since GDPR came into force in May 2018
  • “CBDCs are now a reality: digital payments security needs to catch up” via (Fintech Futures) - Vince Graziani, CEO, IDEX Biometrics, elaborated on the idea of a central bank digital currency (CBDC), a blockchain-based digital currency issued by a central bank, which is now a reality with the launch of the Sand Dollar in the Bahamas, the first fully-deployed digital version of a country’s fiat currency
  • “Open Banking Capabilities Still Not Full Understood by UK Consumers;” via (The Fintech Times) - Tyler Smith, author at The Fintech Times, analyzes newly-published data from the international payment service provider and direct bank card acquirer ECOMMPAY, which has highlighted the concerning fact that only 14% of consumers ‘completely understand’ Open Banking
  • “The EU is fighting for control over cryptos. Citizens may see it as a potential ‘a power grab’” via (Euro News) - Louisa Idel, writer at Euro News, analyzes the current crypto situation in Europe. From Bitcoin becoming legal tender in El Salvador to crypto-friendly legislation in the US state of Wyoming, cryptocurrencies are making their way into the political and economic mainstream
  • “Understanding the Cryptocurrency-Ransomware Connection” via (Security Week) - Derek Manky, Chief of Security Insights and Global Threat Alliances at Fortinet’s FortiGuard Labs, elaborates on ansomware, an idea that caught on immediately and never lost steam
  • “Three Ways to Keep Cloud Data Safe From Attackers” via (Security Week) - Gordon Lawson, CEO of NetAbstraction, explores the fact that due to the ease, flexibility and low cost of securely storing and sharing data between commercial cloud providers, by 2025 cloud deployments are expected to be a $68 billion market
Read more about these analyses HERE.
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Connect with the fintech ecosystem at some of the upcoming events
Radical change requires a radical catalyst. Fintech has a big journey to go on, and Money20/20 Europe is here to help you take the first big leap into the unknown.
This is the only place where the whole community, from payments to banking to retail to regulation and beyond, comes together to make the decisions that shape the future.
This September, get ready for a reimagined Money20/20 Europe experience that puts you in the driving seat. The conversations that take place here will decide our collective trajectory.
For the Holland FinTech Network, Money20/20 has a special offer: 300 euros discount! Code: HOL300
Register HERE.
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TechCrunch Disrupt 2021 – September 21 — 23, 2021, TechCrunch
TechCrunch Disrupt is three virtual days of non-stop online programming with two big focuses: founders and investors shaping the future of disruptive technology and ideas and startup experts providing insights to entrepreneurs. It’s where hundreds of startups across a variety of categories tell their stories to 10,000+ influencers from all around the world. It’s the ultimate Silicon Valley experience where the leaders of the startup world gather to ask questions, make connections and be inspired.
Register HERE.
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Ready to get involved? Click here to find out more.
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