Global Fintech News

By Holland FinTech

Global FinTech News - 24th June 2022

#156・ Jun 24, 2022

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Global FinTech News - 24th June 2022

By Holland FinTech • Issue #156 • View online

Dear reader,

This week US stocks rose, as investors were focused on Fed Chairman Jerome Powell’s second day of testimony to Congress on the state of the US economy.

Powell told the Senate that managing a soft economic landing will be “very challenging” as inflation hits 40-year highs and interest rates surge higher, making it more expensive for consumers to borrow money to buy everything from a house to a car.

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.

European Blockchain Convention - 27 June

European Blockchain Convention 2022: The most influential blockchain & crypto event in Europe is back in Barcelona

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Banking Transformation Summit l London, 29th June 2022

50 industry leading speakers discuss the internal and external factors disrupting banking. Gain inspiration and confidence for the next step on your transformation journey.

bankingtransformationsummit.com • Share

AWS EMEA Summit Online - 29 June

Deepen your cloud knowledge and gain new skills to design and deploy solutions in the cloud to accelerate your journey/pp- 80 Content Sessions/pp- Enjoy

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ICT Spring 2022 - 30 June

ICT Spring is a yearly global tech conference hosting an array of international professionals. It offers participants a unique opportunity to deepen their Digital knowledge, capture the value of the fast-growing FinTech, drive innovation in the Supply Chain industry, pierce the secrets of IT Security and explore the impact of Space technologies on terrestrial businesses

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Digital Insurance Agenda: DIA Amsterdam - 29 June

Connect insurers and insurtechs to accelerate innovation. Two days jam packed with inspiration and new industry insights. 75 presenting companies from all over the globe. Learn from live use cases that generate real value. The most effective way to enhance your digital strategies, improve current processes and accelerate innovation.

www.digitalinsuranceagenda.com • Share

Highlights from last weeks news related to fintech

Weekly News Highlights - 23 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:

Frankfurt-based Raisin Bank AG is acquiring the payment services division of Bankhaus August Lenz & Co AG
The UK-based Payment Systems Regulator has set to launch two separate market reviews of the fees charged by Visa and Mastercard
British fintech Revolut enters crowded BNPL market
Saudi Arabia plans to increase the number of fintech companies in the Kingdom by threefold under a new national strategy
Fintech firms such as Jupiter, EarlySalary and KreditBee have temporarily stopped customers from making any transactions on their prepaid card, after the Reserve Bank of India (RBI) recently banned the industry from loading credit lines on prepaid payment instruments (PPIs)
As a wave of fintechs rode successive funding rounds to ever-higher valuations over the past five years, Swedish buy now, pay later company Klarna declared its ambition to become the Ryanair, Tesla and Amazon of the sector
Chinese President Xi Jinping approved promoting the “healthy” development of the payment and fintech sectors, a sign that a broad crackdown on tech companies like Ant Group Co. may be easing
Binance announced an exclusive multi-year partnership with Portuguese football legend Cristiano Ronaldo

Find out more about this week’s news here.

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The largest funding rounds we found from across the world

Weekly Funding Highlights - 24 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 more:

SumUp, a London, UK-based fintech company serving over 4 million small businesses worldwide, raised €590m in debt and equity funding, at an enterprise value of €8 billion
Fintech startup Stashfin (New Delhi, India) has raised $270 Mn (256m EUR) via a mix of equity and debt as part of its Series C funding round led by Uncorrelated Ventures, Fasanara Capital and Abstract Ventures
FalconX (California, USA) , a crypto platform has raised $150 million (142m EUR) in a Series D funding round that has more than doubled its valuation in under a year — defying the current crypto bear market
Prime Trust (Las Vegas, NV, US), one of the prominent providers of financial infrastructure, announced yesterday that it has raised more than $100 million (95M EUR) in its Series B funding round
Playter (London, UK), a B2B buy now, pay later (BNPL) fintech has secured $55 million (52m EUR) in equity and debt funding to expand its SME-focused platform
Other interesting funding rounds this week: Wahed Invest $50 million in a Series B funding, Lysa raises €33M

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 - 21 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 STATE OF CANADA’S FINTECH ECOSYSTEM” via (IrishNews) - The global pandemic brought about numerous challenges for businesses, but it couldn’t dim the bright future of Canadian fintechs, as they had an exciting year.
“A Deep Dive Into Cross-Border Payments’ Released by MENA Fintech Association as v.2 of SHIFT Report” via (Fintech Times) - The MENA Fintech Association (MFTA), a voice of the region’s fintech community, has published the second volume of its SHIFT report.
“RBI making life tougher for fintech firms: report” via (ET) - The Reserve Bank of India’s (RBI’s) fintech regulation – which prohibits non-banking wallets and pre-paid cards from loading credit lines onto these products – might have a significant impact on fintech companies and in turn benefit banks, states a report by Macquarie Research.
“Why Machine Learning has huge potential in Fintech” via (Fintech Magazine) - Aaron Holmes, CEO and Founder of Kani Payments discusses the role of technology in data management within the fintech industry.
“Digital ID Verification, Remote Document Signing to Become the Norm in Finance Sector” via (Fintech News) - The pandemic has accelerated the growth of non-face-to-face interactions, forcing banks, merchants and others to swiftly deploy digital tools to accurately verify the identity of the person on the other end of a digital transaction.

Read more about research here.

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Background information and insights from opinion leaders and experts

Weekly Analysis and Opinion Highlights - 20 June 2022 - Holland FinTech

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

“How Crypto Lender Celsius Overheated” via (Coindesk) - Celsius rapidly became more brazen in its attempts to generate yields, using decentralized lending protocols and aggregators to juggle around client funds for the best return.
“‘The mood is very grim’: Once-hot fintech sector faces IPO delays and consolidation” via (CNBC) - Financial technology companies are putting IPO plans on hold and cutting expenses as fears of an impending recession cause a shift in how investors view the market.
“Fintech 50 2022: The Newcomers” via (Forbes) - Last year, as the pandemic continued to push more buying and banking online and the price of both bitcoin and tech stocks climbed, venture capitalists poured money into fintech— a total of $133 billion globally, almost three times the $49 billion they invested the year before, according to CB Insights.
“Apple is turning your iPhone into fintech service taking on PayPal, Affirm and more” via (CNBC) - Apple is turning into a fintech company. Here’s How.
“Why BaaS is transforming the financial services space” via (Fintech Magazine) - Banking as a service (BaaS) is moving up the ladder in terms of important developments in the world of digital banking and fintech.

Read more about analysis and opinion here.

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