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Global FinTech News - 19th of February

Global FinTech News - 19th of February
By Holland FinTech  • Issue #86 • View online
Hello there,
After Facebook blocked news feeds in Australia in a surprise escalation of a dispute with the government over having to share revenue from news, and more worrisome concerns in the US due to snow storms delaying Covid-19 vaccine distribution, we are keeping our focus on the fintech world. See what this week’s highlights were about and the most prominent and discussed topics - cryptocurrencies, cybersecurity, RegTech and more!
This morning, our Founder & CEO, Don Ginsel, explored the latest developments in marketing for financial services and “Finfluencers” with our new edition of Flash Friday, co-hosted by David Simpson, Director Innovation & Strategy at Cognito. Check out the video recording here.
From the Holland FinTech Team, have a good Friday!

Highlights from last weeks news related to fintech
Crypto, partnerships, cybersecurity, and robo-advisors. Dive into this week’s fintech news:
  • Mastercard announced it is planning to offer support for some cryptocurrencies on its network this year
  • Nexo, a lending institution in the decentralized finance space, is partnering with Ledger, a crypto wallet provider
  • Klarna, a Swedish payments unicorn, is turning its mobile app into a banking app in Germany. German users will be able to open a consumer bank account and get a Visa debit card
  • The UK National Crime Agency made eight arrests across England and Scotland as part of a coordinated crackdown against a SIM swapping attack
  • Monzo, a UK challenger bank, has recruited a new US CEO to head up its efforts in the United States
  • BNY Mellon, an American investment banking services company, announced it will hold, transfer and issue bitcoin and other cryptocurrencies on behalf of its asset-management clients
  • Also Deutsche Bank is exploring the cryptocurrency custody trend, joining other financial institutions in a mission to offer high-touch services to hedge funds that invest in the asset class
  • In Hong Kong, cryptocurrency exchanges are awaiting the outcome of a proposal by the government to ban retail investors from trading in the city
  • Palo Alto Networks, an American multinational cybersecurity company, announced it acquired Bridgecrew, a startup out of Israel that automates the process of network monitoring and security remediation by translating the feedback into code
  • Goldman Sachs, an investment banking, securities and investment management firm, is launching a digital wealth management service within their app Marcus, for customers with a minimum of $1000 to invest
  • Mollie, an Amsterdam-based payment unicorn, has announced its expansion into the UK market to help merchants with European growth post-Brexit
  • A new coalition for data sovereignty, existing of leading Europe-based technology companies, research institutions and not-for-profit organizations, was announced this week
  • Google Maps is integrating with Google Pay to give users the ability to cover parking, highway tolls, public transportation and more
Read more about this news HERE.
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The largest funding rounds we found from across the world
Crunch the latest fintech numbers with the latest transactions and funding rounds, selected from 10 February to 17 February. See the various selection, ranging from blockchain, cybersecurity, lendings, to neobanking:
  • Figure Technologies (San Francisco, CA, US), a blockchain lending startup founded by ex-SoFi CEO Mike Cagney, announced its plans to raise $250 million (€207.03m)
  • Ramp (NY, US), a corporate card company, raised $150m (€124.22m) in debt financing from Goldman Sachs Bank USA
  • CYE (Herzliya, Israel), a company offering cyber security consulting, has raised $120 million (€99.37m)
  • BharatPe (New Delhi, India), a fintech company that operates a QR code-based payment app for offline retailers and businesses, announced it has raised $108 million (€89.44m)
  • KreditBee (Bengaluru, India), a fintech lending startup, has concluded its Series C equity round worth $75 million (€62.11m)
  • Personetics (NY, US), a fintech company, announced it has raised $75 million (€62.11m) in growth funding in a round led by Warburg Pincus LLC
  • Mogo (Vancouver, Canada), a fintech company, has agreed to purchase a 20% equity stake in cryptocurrency startup Coinsquare
  • Other fundings which attracted our attention this week include: Valoreo (€41.46m), Nymbus (€43.95m), Symend (€35.66m), Northmill Bank (€24.88m), Libeo (€20m), Celo (€16.58m), Fair (€16.58m), WireWheel (€16.58m), Trade Ledger (€15.52m), Synthetix (€9.95m), Pngme (€2.49m), Safepay (undisclosed)
Read more about this funding news HERE.
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A selection of recent research reports and papers worth reading
Explore the latest insights and findings from fintech reports, on RegTech, Dutch market, biometrics, payments, insurance, and SPAC mergers:
  • “EPA Guide to Payment Account Providers” (Emerging Payments Association) - this first edition of the Emerging Payments Association’s Guide to Payment Account Providers gathers data from UK providers
  • “Transparency and Accountability Mechanisms for Facial Recognition” (GMF) - in this policy brief by GMF, strategies for addressing challenges associated with facial recognition are highlighted
  • “The State of Dutch Tech” (Techleap.nl) - Constantijn van Oranje, Prince of the Netherlands, is highlighting in this analysis the importance startups have for the Dutch economy, and the current state of the tech landscape in the Netherlands
  • “Future Ready Payments 2030” (UK Finance & PwC) - in this report, the opportunities and challenges for the UK payments industry over the next ten years are considered
  • “12 Tech Trends To Watch Closely In 2021” (CB Insights) - in this report, new trends for this year are explored in terms of latest technological advancements
  • “Domestic SPAC mergers – financial reporting and accounting considerations” (PwC) - SPACs are a very popular alternative for an IPO. This paper highlights the obstacles that come with the merger of a SPAC with a target company
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
Opinion leaders, industry experts and researchers. Find out what topics the top voices from fintech are exploring:
  • “The Various Game-Changing Solutions Offered in DeFi” via Datafloq - in this analysis by Linda Jones, writer at Datafloq, developments in DeFi are explored, together with the commercial opportunities
  • “The Impact of MuZero and How AI Could Change Strategy Making” via Datafloq - Dr Mark van Rijmenam explores a new type of AI algorithm, MuZero, which can rival AlphaGo or OpenAI Five in games like Go, Chess or Shogi
  • “Preparations underway for 6AMLD” via Bobsguide.com - Barley Laing, UK managing director at Melissa, dives into the sixth anti-money laundering directive (6AMLD) in effect in EU member states from December 3, 2020, which must be implemented by financial institutions by June 3, 2021
  • “Signal Or Noise? Four Things To Know About Sustainability Metrics” via Forbes - Sarah Keohane Williamson, fintech writer at Forbes, explores the growing trend of “non-traditional” metrics and disclosures on company operations
  • “Smarter risk assessment is key to drive equitable financing for SMBs” via Finextra - Payson Johnton, CEO & Co-Founder, Crowdz, highlights the Covid-19 aftermath for the companies who have fared well or thrived, marked by the rise of a new trend: social impact financing
  • “BankingTech Is 2021 the year to inspire better banking?” via FinTech Futures - Sanat Rao, Chief Business Officer and Global Head at Infosys Finacle, pinpoints how 2020 may have presented a new opportunity for banks to be on top of their competition
  • “CBDCs, the Digital Euro and how it might work” via The Finanser - Chris Skinner, an independent commentator on the financial markets, explores the use of digital currencies by central banks
Read more about these analyses & opinion pieces HERE.
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Connect with the fintech ecosystem at some of the upcoming events
It is clear that today’s ‘new normal’ has speeded up digitalization in our day-to-day lives. As digital distribution channels saw an all-time high in terms of traffic, the insurance industry needs to face this accelerated digital transformation. And what better way is there to look beyond our borders and learn from the best practices from our neighbouring countries? Therefore LHoFT, Holland FinTech and FinTech Belgium have joined forces to inspire all the insurance stakeholders.
Register HERE.
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Technovity 2021 - 5th March
Technoviti for the Fintech and Big Tech Sector will explore what is going to be shaping the NEXT in Financial Services. We will put together all the possible triggers that have redefined the future of financial services business and the technologies that power it.
Register HERE.
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Finnovity 2021 - 6th March
We invite business and technology players from Banking, Fintech, Technology, Security, innovations, Payments, and related ecosystems to take advantage of this elite gathering of 500 plus BFSI delegates and participate at the Finnovity 2021!
Register HERE.
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Futuristic X Middle East- Hybrid - 16th March
Exibex is proudly announcing the launch of Futuristicx Hybrid Conclave 2021 scheduled on 16th March 2021 on a hybrid platform!
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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Finnosec Middle East - Hybrid - 17th-18th March
With this as a driver, Exibex, the team behind Finnovex Global Series, is proud to present the FinnoSec Global Series. The second edition of this series, FinnoSec Middle East, The Leading Summit on Financial Security and Cyber Resilience.
Register HERE.
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