Global Fintech News

By Holland FinTech

Global FinTech News - 1st July 2022

#157・ Jul 1, 2022

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Global FinTech News - 1st July 2022

By Holland FinTech • Issue #157 • View online

Dear reader,

This week the US Supreme Court has opened the door for individual states to ban or severely restrict the ability for women to get abortions. The court has overturned the earlier ruling - Roe vs Wade, effectively making it possible for states to ban abortions completely.

Abortion will not automatically become illegal in the US - but individual states will now be allowed to decide if and how to allow abortions.

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.

Amsterdam Fintech Week 9-16th September

Amsterdam FinTech Week is excited to announce its partnership with the Brella App, the leading networking platform that provides you with a superb networking experience. This App will take XFW to a whole new level, allowing attendees to maximize their time at Amsterdam FinTech Week. To get more updates and register for this event click here.

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The DIA After - Holland FinTech

We are hosting a special event called: The DIA After. This is an online wrap up & discussion of key DIA insights, in a brief, focused, virtual event hosted by Holland Fintech’s Don Ginsel, Jochem Davids & Onno Bloemers.

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Holland Fintech Meetup - July - Holland FinTech

Our Holland FinTech Meetups allow the international Fintech ecosystem to gather together and allow for the companies of our Network to stay at the Forefront of Innovation. Meetup’s July edition is hosted by Amazon Web Services AWS.

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Highlights from last weeks news related to fintech

Weekly News Highlights - 30 June 2022 - Holland 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:

Funding Societies, a Southeast Asian digital financing platform for small and medium enterprises (SMEs), today announced that it is acquiring regional payments solution, CardUp, for an undisclosed sum
A pilot of the first regulatory sandbox on Artificial Intelligence (AI) was presented by the government of Spain and the European Commission at an event held in Brussels in the presence of Spanish
This year’s cryptocurrency crash, which saw the market lose more than half of its value in the span of six months, is threatening to bring sports sponsorship deals to a halt as crypto companies look to cut costs
Ready Life, a fintech startup launching the Labor Day is looking to chip away at the racial wealth and homeownership gaps by helping its customers show lenders that, even if they don’t have the credit score to secure a mortgage, they have the cash flow
Russian lender VTB Factoring and fintech company Lighthouse have executed the country’s first cash-backed digital financial asset transaction
UBS has put a great deal of effort into its compliance guidelines and action models. That accumulated legal knowledge is now being offered to third parties for the first time by Partnervine platform
Jacobi Asset Management said that it would launch Europe’s first bitcoin exchange-traded-fund (ETF) on the Euronext exchange, in a sign of the cryptocurrency’s appeal despite its volatile price swings
Nottingham RegTech Ideagen has been acquired by London-based private equity firm Hg Pooled Management for £1.1 billion

Read more about this week’s news here.

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The largest funding rounds we found from across the world

Weekly Funding Highlights - 29 June 2022 - Holland FinTech

Many more deals and transactions from fintech this week! This week’s prominent fundings are shared by multiple sectors, including fintech, payments, NFT, and others.

Unizen, a centralized-decentralized (CeDeFi) exchange, received a $200 million (191m EUR) capital commitment from Global Emerging Markets (GEM.
Conversion Capital, a New York City-based early-stage venture capital firm, announced Tuesday (June 28) that it has completed raising capital for Fund III, a $122 million (116,8m EUR) fund that will invest in the FinTech sector.
London, UK-based financial app Cleo has raised €76 million in funding to double-down on the U.S. market and help Gen Z audiences improve their financial health and wellbeing.
Blockchain fintech firm PolySign (Oakland, CA, US) has raised $53 million (50m EUR) in a Series C funding round with participation from Cowen Digital, Brevan Howard, GSR and others, the company said Tuesday in a press release.
Google has invested in Indian startup Progcap (New Delhi, India), that caters to small and medium-sized businesses, as it raised $40 million (38m EUR) in its Series C funding round.
Other notable funding includes: Hokodo Raises $40M (38m EUR) in Series B Funding Round, Revenue Based Financing Startup GetVantage $36 Mn (34m EUR) and Keyway raises $25M (33,9m EUR) in Series A Funding.

Find out more about this week’s funding here.

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A selection of recent research reports and papers worth reading

Weekly Research Highlights - 28 June 2022 - Holland FinTech

For this week’s research article, we dive into new insights on fintech market, banking, insurance, payments, trends, diversity in fintech and more.

“The Global Covid-19 Fintech Market Impact and Industry Resilience Study” via (WBG) - The year 2020 was a pivotal point for how financial services were accessed and used. The Covid-19 pandemic necessitated an accelerated shift toward remote financial services, proving both challenging and rewarding for the fintech industry.
“Expert Says Financial Technologies Can Help Address Climate Change” via (NewsWise) - “Financial technologies offer great promise to tackle climate change and provide pathways for developing sustainable economies and lifestyles,”
“Bridging the Gap: The Role of FinTechs, NBFCs and Small Finance Banks in promoting Financial Inclusion and Diversity” via (ORF) - Over the years, as the traditional banking sector has remained partially successful in extending its services to low-income and vulnerable groups, FinTech organizations, NBFCs and Small Finance Banks have emerged as industry disruptors.
“Buy now, pay later — the most preferred payment in the region: Fintech panel” via (Arab News) - Buy now, pay later, a financing option that allows customers to pay flexibly, has become the preferred mode of payment in the region, said top fintech players.
“Real Time Payments: Solving today’s problems for tomorrow’s success” - via (Finextra) - Banks understand what they need from real time global payments, but reaching a position where they can leverage the full benefits available is a significant challenge.

Find out more about this week’s research here.

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Background information and insights from opinion leaders and experts

Weekly Analysis and Opinion Highlights - 27 June 2022 - Holland FinTech

And we’re ending the week with new details on crypto, money transfer, fintech funding, payment process, debt crisis and more.

“Which Are The Leading Fintech Apps In The UK iGaming Market?” via (Finsmes) - There are many different fintech apps in the UK iGaming market, but which ones are the leading players?
“The 10 Biggest Fintech Companies In America 2022” via (Forbes) - Fintech’s mightiest privately owned companies continued to grow over the past year, but declining investment in the industry signals stormy waters ahead.
“Hyper-personalisation is the future of Insurtech – Capco” via (Reinsurance News) - Insurtech firms that prioritise hyper-personalisation and embedded insurance will come out the long-term winners and define the sector in the coming years, according to Usman Sheikh, Executive Director at Capco.
“Insurtech: The Unexpected Solution To Commoditization In The Banking Industry” via (Forbes) - The one thing every company in the financial services space needs right now is value. Commoditization in the financial industry has made it hard to have a differentiating product.
“Banking as a service is transforming the sector’s staid processes” via (Racounter) - Keeping up with banking can feel like trying to watch a Star Wars spin-off with too many characters.

Find out more about this week’s analysis and opinion here.

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