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Global FinTech News - 18th February 2022

Global FinTech News - 18th February 2022
By Holland FinTech  • Issue #138 • View online
Dear reader,
This week the world witnessed The Financial Stability Board (FSB) release a 30-page report on financial stability risks associated with cryptocurrencies. Specifically, the study raises concerns over lack of transparency and consistency within crypto-asset markets such as as Bitcoin, Tether and decentralized finance (DeFi).
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. Happy reading!
Check out our weekly news video with latest developments and updates in Fintech!
From the Holland FinTech team, we wish you a great weekend!

Connect with the fintech ecosystem at some of the upcoming events.
Holland FinTech Hybrid Meetup - Holland FinTech
Pending local regulations, we plan to launch the first Hybrid Meetup in March of 2022! Keep an eye on our Meetup Group or this webpage for updates!
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Benelux ESG Series Session 3: Governance - Holland FinTech
Join us for the third and final session of the Benelux ESG series as we tackle the “G,” Governance, and discuss why it’s vital to the success of an organization
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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:
  • Mastercard said that it was expanding its payments-focused consulting service with new practices dedicated to crypto, hires 500 people
  • JPMorgan has dipped a toe into the metaverse, becoming the first bank to open a lounge in the Decentraland virtual world.
  • MoneyGram has inked a definitive agreement to be acquired by private equity firm Madison Dearborn Partners (MDP) in an all-cash deal worth around $1.8 billion (EUR 1.53b)
  • Partnership banking platform Synctera updated its Liftoff program to help FinTechs partner up with banks and rollout products faster
  • Walker & Dunlop, Inc. WD has inked a deal to acquire GeoPhy, a commercial real estate technology company. The transaction, expected to be complete during the current quarter, is subject to approvals
  • Huawei has partnered with Singaporean payments service provider Aleta Planet to enable its users to make digital payments with the new AP-1 / Huawei Pay UnionPay card.
Read more about this week’s 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! This week’s prominent fundings are shared by multiple sectors, including fintech, payments, NFT, credit cards, banking and more:
  • GoCardless (London, UK), a fintech in direct bank payment solutions, has secured a Series G funding round of $312 million (EUR 275m)
  • Flutterwave (Africa), a fintech has raised $250m (EUR 220.4m)in a Series D round that tripled the company’s valuation to over $3 billion in just twelve months
  • Genesis (NYC, US), an application development platform purpose-built for financial markets organizations, raised $200m (EUR176.05m) in funding
  • 5ire (New Delhi, India), a blockchain network, raised $100m (EUR 88.02m) in funding as it seeks to file for an IPO
  • Funding Societies (Singapore), a small and medium enterprise lender announced it has raised $144 million (EUR 126m) in a series C+ equity round by Softbank Vision Fund
  • ThriveDX (Coral Gables, Florida), formerly HackerU, the fastest growing cybersecurity and digital skills workforce development training platform, announced today a significant new investment of $75 million (EUR 66m) from NightDragon and its affiliates
  • Other interesting funding rounds this week: M2P Fintech (Bengaluru, INDIA) secured $26 million (EUR 22m) in Series B funding, Thndr (Egypt), the digital investment platform raised $20 million (EUR 17.6m), Insify (Amsterdam, Netherlands) raised €15M in a Series A round.
Read more about this week’s 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:
  • “Credit Unions in Africa Switch to Fintech” via (Africa.com) - From table banking to credit unions, the savings and credit cooperative organization (Sacco) sector in Africa is fast digitizing to bring financial inclusion to all Sacco members
  • “India fintech investments lead in APAC” via (TechwireAsia) - According to a new report, the country led in the fintech investments in the Asia-Pacific region, with US$5.94 billion raised across 236 deals last year
  • “Fintech Market to Reach $324 billion in 2026” via (Global Trademag) - U+ released “The State of Fintech 2022,” a report that analyzes disruptive fintech trends and industry projections including banking, payments and insurance
  • “India emerges as 3rd largest FinTech ecosystem globally, claims BLinC Invest report” via (Express Computer) - In its latest report on India’s FinTech sector, BLinC Invest highlighted the country emerging as the 3rd largest FinTech ecosystem globally
  • “India’s fintech landscape: Paving the way for financial wellbeing” via (The Times of India) - The BFSI sector in India has always been bold and willing to adapt to change, specifically with respect to the rapid digital transformation witnessed across sectors.
Read more about this week’s research here.
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Background information and insights from opinion leaders and experts
And we’re ending off the week with new details on banking, partnerships, funding, DeFi, SoFi, neobanks, credit unions, open banking and more:
  • “The Unstoppable Rise Of Fintech And The Competing Efforts Of Authorities To Catch Up: The Turkish Competition Authority Published Its Analysis Report On Fintech” via (Mondaq) - The Turkish Competition Authority (“Authority”) published its report entitled “Analysis Report on the Financial Technologies in Payment Services”
  • “Fintech SoFi Is Much More than a Neobank, Bank of America Analyst Explains” via (Crowdfundinsider) - SoFi Technologies is not simply just another neobanking platform, according to this Bank of America analyst
  • “Will the Super Bowl supercharge SoFi’s growth?” via (American Banker) - The Los Angeles Rams may not have been the only winners on Super Bowl Sunday
  • “Bank-fintech partnerships win key battle, but war is far from over” via (American Banker)- Fintechs can more comfortably avoid state interest rate caps by partnering with banks after two recent court decisions — at least for now
  • “Down 38% From Its High, Is This Fintech a Buy?” via (Nasdaq) - While the S&P 500 has seen some turbulence in the past month, growth stocks have been getting hit for months now
Read more about this week’s analysis and opinion here.
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