View profile

Global FinTech News - 22nd of May

Our weekly fintech Roundup: Not even the popular offerings are immune as UK based neobank Monzo takes
Global FinTech News - 22nd of May
By Holland FinTech  • Issue #47 • View online
Our weekly fintech Roundup: Not even the popular offerings are immune as UK based neobank Monzo takes a 40% valuation cut this week to revalue at 1.25 billion GBP (~€1.4 billion) down from 2 Billion GBP (~€2.2 billion) last year as they battle against investor weariness during the covid-19 pandemic. Another popular offering however, VISA’s recent flagship acquisition Plaid, that brings out an exciting new service: Plaid Exchange. This allows banks using the service to benefit from API connectivity in a box, drastically expanding the kinds of services they can offer. Paypal was not to be outdone in the consumer market and following the rising trend of digital payments in the retail space, users of the PayPal app can now send and receive funds via their mobile apps with QR codes in 28 markets around the world. Not bad! Although, like last week, on a macro level funding isn’t looking great, with average deal volume significantly lower than in previous years. However - this week still saw very sizeable funding rounds being closed with US based Brex taking home $150 million (~€137M), closely followed by socially conscious and LA based fintech Aspiration scoring $135 million (~€124M). Indian player Khatabook raised $60 million USD (~€55M) and Swedish AnyFin levelled off its series B round with $30 (~€27.5M) million USD. That’s all from us for now, enjoy!
Take a look at all things FinTech&COVID-19 on our resource page here.
- The Holland FinTech Team

Highlights from last weeks news related to fintech
Administrators at UK based neobank Monzo – which last year was valued at 2 billion GBP (~€2.2 billion), have announced a new funding round which will peg it’s valuation at 1.25 billion (~€1.4 billion) GBP – 40% less than it’s previous evaluation. The valuation adjustment is due to the COVID-19 pandemic making investors timid – forcing tech companies to adjust their valuations.
hollandfintech.com  •  Share
VISA ventures pours money into Analytics Firm GoodData
VISA has decided to partner with global analytics firm GoodData, and “Visa plans to continue supporting access to aggregated data and analytics that allow the payments company’s customers and business partners to better understand the potential impact and overall effectiveness of the key decisions they make on a daily basis.”
hollandfintech.com  •  Share
Paypall rolls out touch free QR payments
E-commerce and payments giant PayPal has played into the covid-19 pandemic and has started offering users the ability to use QR codes to buy and sell goods in the UK and 27 markets around the globe.
hollandfintech.com  •  Share
Plaid Launches API Exchange To Accelerate Open Banking And Digital Transformation
Data connectivity platform Plaid, recently acquired by payments giant VISA for $5.3 (~€5) Billion – has another product to roll out: Plaid Exchange.
hollandfintech.com  •  Share
Hourly Workers get early access to Pay with Even Responsibe's fintech app
This payment app, used by retail giants like Walmart which offers it to employees (some 1.3 million around the world) allows users to better track their payments, expenditures and with a feature called “instapay” allows them to access their payments earlier than usual.
hollandfintech.com  •  Share
India starting to lead the way in Fintech Startup Investments
It seems that India is starting to outpace it’s closest rival, China, when it comes to fintech investments – in both deal value and volume, according to data collection company GlobalData.
hollandfintech.com  •  Share
The largest funding rounds we found from across the world
“The company, which sells a credit card tailored for startups, today announced that it has raised $150 (~€137) million in a Series C extension from a group of existing investors, including DST Global and Lone Pine Capital.”
hollandfintech.com  •  Share
LA Based Fintech Aspiration Nets $135 (~€124) Million
“The company’s just-announced $135 (~€124) million cash infusion brings the total capital raised to $200 (~€184) million, and was led by local investor Alpha Edison”
hollandfintech.com  •  Share
Fintech startup Khatabook raises $60M (~€55M) in Series B led by B Capital Group
“Khatabook, a Bengaluru-based utility solutions provider which helps micro, small, and medium-sized businesses track business transactions, has closed a $60 (~€55) million Series B round of funding led by B Capital Group.”
hollandfintech.com  •  Share
Sweden Fintech Anyfin Secures $30 (~€27.5) Million Through Series B Funding Round Led By EQT Ventures
“Anyfin , a Sweden-based fintech startup that enables consumers to refinance their existing loans with a picture, announced on Thursday it secured $30 (~€27.5) million through its Series B funding round, which was led by EQT Ventures with participation from Accel, Northzone, Fintech Collective and Global Founders Capital (GFC).“
hollandfintech.com  •  Share
Fintech Deel lands $14m (~€13m) from Andreessen Horowitz, hires ex-Revolut US manager
“Deel, a new fintech aiming to help companies with employees spread out across the world, has landed a $14m (~€13m) Series A funding round as well as poaching an early ex-Revolut employee to a senior role.”
hollandfintech.com  •  Share
London-based fintech Smarterly bags £7m (~€8m) Series A funding
“Savings and investment platform Smarterly has secured a £7m (~€8m) Series A investment led by Major Oak.“
hollandfintech.com  •  Share
A selection of recent research reports and papers worth reading
“Monitoring the cybersecurity landscape and the increase of COVID-19 related CyberCrimes reporting by cyber experts and law enforcement agencies worldwide, the ECHO network of cybersecurity centres (ECHO) has joined forces to establish its COVID-19 Cyber Defence Alliance”
hollandfintech.com  •  Share
Top 10 Fintech Innovation Labs | 3: Deutsche Bank Innovation Labs
“Deutsche Bank’s concept for its innovation lab is a simple one: provide opportunities for startups by connecting them to key decision makers within its wider organisation”
Author: Evelyn Howat
hollandfintech.com  •  Share
CFO 4.0 – Digital transformation in the financial function
“To understand where European companies stand in the digital transformation of the CFO function, BearingPoint conducted a CFO 4.0 survey directed at CFOs and finance managers around Europe"
Authors: Olivier Beugnet & Johannes Vogel
hollandfintech.com  •  Share
European Investor Map
Take a look at the European Investor Map at our website.
hollandfintech.com  •  Share
European M&A Report
“The latest edition of the European M&A Report captures the market before the pandemic froze the world’s economy. Our analysts look beyond Q1 M&A data to the future of 2020 and how dealmakers might proceed as they shift priorities and navigate challenged logistical processes.”
hollandfintech.com  •  Share
Startups in a post-coronavirus world: how will the crisis impact fintech?
“The coronavirus crisis may lead to a series of changes forcing many companies to rethink their business models. Startups frequently depend on funding, and some may be critically impacted.“
hollandfintech.com  •  Share
Background information and insights from opinion leaders and experts
How can we best leverage on new technologies such as predictive analysis and automation to maximize efficiency gains, profit margins and customer experience in banking? This piece explores how new tech can help both challenger and incumbent banks with the key issue many service providers are facing: is the future to replace workers or to use tech to empower them? Luckily for all flesh and blood readers – the latter seems to be most favored.
Author: Matt High
hollandfintech.com  •  Share
Fintech is an opportunity, not a threat - Hong Kong's banks
In 2019 the Hong Kong Monetary Authority gave out 8 new licences to virtual banks, to encourage competition and growth in the fintech sector, as well as to position Hong Kong as a leader in global banking.
hollandfintech.com  •  Share
Why are fintech companies winning big in banking and finance
The unique combination of rapid technological developments, shifting societal demands from banks as Gen Z takes up banking, and the still large untapped market of 1.7 billion financially excluded people has set a perfect stage for fintech companies and neobanks to emerge as winners in the financial sector.
Author: Jia Jen Low
hollandfintech.com  •  Share
Growth post Corona: Fintech ready to rumble
“ETF’s are betting on growth for the fintech sector post-corona: actively managed funds such as the ARK Fintech Innovation ETF has shifted it’s priorities to investing in companies that are involved with “shifting shifting financial services and economic transactions to technology infrastructure platforms, ultimately revolutionizing financial services by creating simplicity and accessibility while driving down costs.”
Author: Tom Lydon
hollandfintech.com  •  Share
Balancing innovation and regulation: FinTech trends and challenges
“In the trends that are being highlighted in this review, a few things float to the top: Non bank financial service models, regulation under review, and consumers taking control of their data.”
Author: Shaun Puckrin
hollandfintech.com  •  Share
FinTech: Coronavirus Impact on Payments (Near-Term Challenges Unlikely to Deter Secular Tailwinds)
March 2020 signalled the beginning of a steep decline in payments volume across the world as the COVID-19 pandemic forced many places into a lockdown. Fitch however believes that despite current contractions, long term growth drivers remain intact and in some cases even boosted certain growth trends, such as growing e-commerce and the shift from cash to digital payments.
hollandfintech.com  •  Share
Connect with us at some of the upcoming events
Join us for a 30 minute session with Holland FinTech’s Founder, Don Ginsel, who will be diving into the latest fintech news, providing you with his take on latest industry developments, followed by Q&A.
hollandfintech.com  •  Share
Holland FinTech Meetup Online - 12th of June
Our Holland FinTech Online Meetups allow the international Fintech ecosystem to gather together and allows for the companies of our Network to stay at the Forefront of Innovation. If you are looking for exposure, new customers, investors, team members or cool startups, you will surely meet them here!
hollandfintech.com  •  Share
London Tech Week 2020 - London, United Kingdom - 2nd-10th of September
London Tech Week will be returning on the 2 – 10 September 2020, bringing our global tech audience the innovations, technologies and business partners they need for the next chapter of their growth.
hollandfintech.com  •  Share
Cognitive Finance AI - Berlin, Germany - 21st/22nd of September
The 2-day event is a unique combination of inspirational keynotes, well-moderated, interactive World Cafés, Challenge your Peers sessions, a pre-event Workshop, Icebreakers and much more.
Be part of our exclusive platform that explores business models, case studies, actions, and profitability and identify missing gaps that hide opportunities, chances and potential solutions for your technical and business challenges.
hollandfintech.com  •  Share
MoneyNext Summit 2020 - London, United Kingdom - 20th/21st of October
#MoneyNext Summit is the leading event to address the financial landscape in 2020 and beyond – offering unparalleled access to decision makers, visionaries, influencers and disruptors from the world of finance. 200 inspirational speakers and 25 of the most innovative next-gen vendors discuss, demo and showcase the latest industry innovations.
20% Members-Only Discount available.
hollandfintech.com  •  Share
Ready to get involved? Click here to find out more.
Did you enjoy this issue?

Global Fintech News

If you don't want these updates anymore, please unsubscribe here.
If you were forwarded this newsletter and you like it, you can subscribe here.
Powered by Revue
Amsterdam