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Global FinTech News - 26th of March

Global FinTech News - 26th of March
By Holland FinTech  • Issue #91 • View online
Dear reader,
This week, the EU stopped short of banning vaccine exports, and German Chancellor Angela Merkel reversed the plan to toughen virus lockdown measures over Easter. We are further looking at fintech news and insights, ranging from crypto, insurance, IPOs, M&A, partnerships, to regulation and compliance.
This morning, our CEO, Don Ginsel, explored in a new Flash Friday edition fintech insights with Talin Bezmen, VP of Market Development EMEA at Workiva. Check out the video recording here
From the Holland FinTech Team, we wish you a happy weekend!

Highlights from last weeks news related to fintech
Explore the latest fintech news for this week and dive into topics regarding stock change, blockchain fund trading, customer recruiting, crypto, fintech partnerships:
  • Robinhood is announcing its plans for an IPO, after the initial attempt of the company to go public on the Nasdaq earlier this month
  • Pensionbee, an online pension provider, announced its plans to list on the London Stock Exchange
  • FNZ, a wealth management platform, has begun its blockchain-based fund trading and settlement system - ChainClear - in the South African funds market
  • Plaid, an open banking fintech company, has announced the inaugural cohort of startups in its new accelerator program, FinRise
  • Wirex, a digital payment platform for the growing token economy, decided to pause recruiting new UK customers as of this week and to focus the resources more on its AMLD5 compliance protocols
  • Goalsetter, a platform that helps parents teach their kids financial literacy, signed up a new cohort of 1 million children for savings accounts
  • Revolut, a digital challenger bank, has submitted a draft application for its US banking licence and launches business accounts in all 50 states
Read more about this news HERE.
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The largest funding rounds we found from across the world
Below we explore the newest investments from fintech, diving into cybersecurity, mobile payments, identity verification, digital finance and more. Get the latest funding insights, selected from 17 March to 24 March:
  • Feedzai, an anti-financial crime company, has secured a growth investment of $200 million in the series D round led by KKR and reached a unicorn status
  • SecurityScorecard (New York, US), a cybersecurity rating and risk-monitoring platform, announced it has raised $180 million (€152M) in a series E round of funding
  • Coalition (San Francisco, California, US), a cyber insurance startup, raised $175 million (€147M) in its latest round of funding
  • Jumio (Palo Alto, California, US), an online mobile payments and identity verification company that provides digital identity tools and technology, has closed a $150 million (€126M) round of funding
  • PayFit (Paris, France), a fintech company that specializes in payroll and HR, announced this week it has secured $90 million (€76M) through its Series D funding round
  • MODIFI (Berlin, Germany), a digital finance company, has secured $60 million (€50M) from Silicon Valley Bank
  • Pollinate (London, UK), a creator of cloud-based banking software, has secured a $50 million (€42M) Series C led by Insight Partners
  • Other funding rounds we thought to be interesting for this week: Zeller (€21M), Pluang (€17M), Fondeadora (€11M), EQIBank Closes (€10.5M), Zaver (€4.2M), Afriex (€1.01M)
Read more about this funding news HERE.
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A selection of recent research reports and papers worth reading
Here we look into the latest insights and findings from recent fintech reports and research studies, varying from insurance, Dutch market, women in fintech, regulations, to corporate venture capital:
  • “Fintech Ireland Indigenous Map v4 & Fintech Ireland International Map v1 release ahead of St Patrick’s Day” (Fintech Ireland) - the piece shows the 2021 edition of the Fintech Ireland Map for indigenous fintech and the premier international fintech companies that have established in Ireland
  • “Data sharing models in the insurance industry” (Willis Towers Watson) - the findings show how data sharing is changing across the insurance value chain, by presenting four data sharing models and market scenarios, and the imperative strategic choices facing the insurance industry
  • “The Dutch made more than a quarter more online purchases in 2020” (Thuiswinkel.org - in Dutch) - this report shows an exponential increase in the Dutch online purchase in 2020 and the factors contributing to it
  • “Female finance in figures” (EWPN) - EWPN reports on the financial services and products that have been specifically developed for women, with data gathered from over 102 organizations offering financial services to women
  • “Big techs in finance: regulatory approaches and policy options” (BIS) - this paper provides an overview of the current regulatory landscape for big techs operating in finance and discusses avenues for improvement
  • “Corporate Onboarding: Will it become a competitive differentiator for banks in a real time world?” (Finextra) - this paper explores how banks can deal with changing KYC regulations and the incoming AMLD6, and what technology can be utilized to assist banks achieve seamless corporate onboarding
  • “The 2020 Global CVC Report” (CB Insights) - this report looks at aggregate corporate venture capital (CVC) activity in 2020, as well as CVC deals across regions and industry verticals
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
Analyze trends and opinion thoughts from industry leaders - ESG data, electronic cash, Bitcoin, private creditors and more:
  • “Real-time data key to ESG analytics” via Bobsguide - Dan Grandage, Head of ESG, Private Markets & Real Estate at Aberdeen Standard Investments, explains why private organizations do not have the same degree of transparency as their public counterparts, making it more challenging to access environmental, social and governance (ESG) data
  • “Digital Dollars In Digital Pockets” via Forbes - David G. W. Birch, writer at Forbes, argues that a new kind of electronic money is not needed to implement digital currency, with the digital revolution being rather focused not on electronic money, but on electronic cash
  • “The alternative currency revolution” via Fintech Futures - Jason Cozens, founder and CEO of Glint, highlights that instead of cash, digital currencies such as Bitcoin and Ethereum are the financial safety and security that customers are seeking
  • ‘How the financial sector can successfully deliver frictionless customer service” via Finextra - James Mingard, Head of Retail & Finance Maintel, dives into digital banking and customer reluctance due to a lack of attractive digital solutions
  • “From Bitcoin to NFTs, why institutions are adopting crypto” via AltFi - Ivan Soto-Wright, writer at AltFi, emphasized a surge in cryptocurrency adoption, which has put pressure on businesses to offer this kind of service
  • “Credit-Rating Agencies Could Derail Economic Recovery” via Project Syndicate - Jayati Ghost, writer at Project Syndicate, explores the Ethiopian government’s commitment to engage with private creditors, as part of the G20 Common Framework for Debt Treatments beyond the Debt Service Suspension Initiative
  • “Why investors need to think beyond ESG” via Sifted - Isabelle de Cremoux, CEO and Managing Partner at Seventure Partners, emphasized the need to continue with ESG reporting to stay in line with regulatory requirements, but also embrace the UN Sustainability Development Goals (SDGs) as a new benchmark for the VC sector
Read more about these analyses & opinion pieces HERE.
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Connect with the fintech ecosystem at some of the upcoming events
At this event, we will launch the guide and let the lawyers involved tell you what’s important and how to make compliance easier. We will also look at the soon-to-be-implemented AMLD6 that was launched soon after AMLD5.
Register HERE.
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Wolves Summit 2021 - 24th-26th March
Wolves Summit fosters collaboration between angel investors, VC funds, corporations, and the most promising startups in the CEE region invested in creating real, positive value in the world.
Register HERE.
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GBA Blockchain Week Virtual Summit 2021 - 30th March-1st April
Greater Bay Area Blockchain Week 2021 is the premier virtual event for an international audience passionate about technology.
Register HERE.
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Fintech Week Tel Aviv - 19th-22nd April
Now in its 5th year, Fintech Week Tel Aviv brings together key players from a host of global fintech and financial services hotspots to engage with the Israeli ecosystem, and see Israeli innovation first-hand.
Register HERE.
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