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Global FinTech News - 27th August 2021

Global FinTech News - 27th August 2021
By Holland FinTech  • Issue #113 • View online
Dear reader,
This week the Paralympics kicked off in Tokyo, with a record number of athletes competing. In Afghanistan, evacuations of western citizens and their Afghan support has come to a halt, leaving many in uncertainty about their future under the new Taliban regime.
We are focused on the news in fintech, exploring the latest news, investments, reports and opinions on fintech, cybersecurity, IPO, cryptos, banking, partnerships, payments and more! In any case be sure to check out the event section at the bottom, as Money20/20 Europe is having the first-after-Covid physical event in Amsterdam, on 21-23 September.
From the Holland FinTech team, we wish you a sunny weekend!

Highlights from last weeks news related to fintech
Find out the latest fintech news for this week and dive into topics regarding crypto, partnerships deals, payments and NFT.
  • PayPal’s millions of users in the UK can now buy, hold and sell cryptocurrency
  • Paysafe has signed a definitive agreement to acquire market-leading German fintech company, viafintech
  • Amazon has invested in Indian fintech start-up Smallcase, laying the foundations for an incursion into the wealth management space
  • Nubank could be worth more than $55 billion when it holds a planned initial public offering (IPO)
  • W1tty has secured an electronic money institution (EMI) license from the UK’s Financial Conduct Authority (FCA)
  • Google has teamed up with Setu to allow its users to book fixed deposits (FDs) through Google Pay
Read more about this week’s news HERE.
hollandfintech.com  •  Share
The largest funding rounds we found from across the world
We explore the most prominent rounds and transactions of the week including various sectors such as trading, fintech, cost saving, payments, credit, cybersecurity, cloud data and lending solutions.
  • DriveWealth Holdings (Chatam, NJ, US), a fractional trading and embedded finance company, raised $450m (€383m) in Series D funding
  • OPay (Lagos, Nigeria), a fintech company raised $400 million (€340m) in new financing
  • Ramp (New York, NY, US), a startup offering a corporate card focused on cost savings, announced that it closed a $300 million (€255m) series C funding
  • Zepz (London, UK), a digital cross-border payments platform, raised $292m (€248.5m) in Series E funding
  • Cora (São Paulo, SP, Brazil), a digital lender to small-and-medium-sized businesses, has raised $116 million (€98.7m) in a Series B round
  • Upgrade (San Francisco, CA, US), a fintech company that offers credit to mainstream consumers, closed a $105m (€89.3m) Series E funding round
  • Other interesting funding rounds for this week: Khatabook $100 million (€85m), MobileCoin $66m (€56.2m), Upstream Security $62m (€56m), Preset $35.9m (€30.5m), Jaris $31M (€26.3m), XREX $17m (€14.4m)
Read more about the funding news HERE.
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A selection of recent research reports and papers worth reading
Dive into the latest research pieces on open finance, ransomware, payments, unicorn companies, fintech and asset management.
  • “Only 1 in 5 Gen Zers Say They Will Pay With Cash in the Future Finds Logica Research (The Fintech Times)”- This article explores the open finance sector. This is the next step in the open banking movement that broadens the scope to a wider range of products and services
  • “Ransomware attacks surge by over 150% in 2021 (Payments Cards & Mobile)”- This publication highlights the fact that businesses and people around the world suffer ransomware attacks every day. Exceptionally since the pandemic started, we hear more and more about hackers abusing vulnerabilities
  • “Australian Payments Network reports increase in card fraud (Payments Cards & Mobile)”- This report analyzes new data released by the payments industry self-regulatory body, Australian Payments Network (AusPayNet), has shown an increase in online card fraud in 2020 as the shift to online payments accelerated with the onset of COVID-19 in Australia
  • “Global fintech unicorn leaderboard spotlights the largest hubs (The Insider)”- This research highlights the list of unicorn companies around the world and their geographical location
  • “A new report is accusing Apple’s engraving service of censoring political phrases in its China, Hong Kong, and Taiwan stores (PwC)”- This report highlights the fintech sector’s achievements in 2021. It’s a good time to be a fintech-focused VC. Over the past six months in Europe, there have been €22.6bn worth of exits, making a lot of investors mighty rich
  • “Impax Asset Management: Engagement Report 2021 (Climate Action)”- This writing explores the fact that Impax buys the securities of companies that are believed to be well-positioned to add value over the long term, as we make the needed transition to a more sustainable, low-carbon economy
Read more about these research papers HERE.
hollandfintech.com  •  Share
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: crypto, partnerships, digital ecosystem, Diem, financial inclusion, cybersecurity and innovation .
  • “Crypto Long & Short: When China Spoke, Bitcoin Reacted. America? Not So Much” via (Coindesk) - Emily Parker, a global macro editor at CoinDesk, shares a thought that governments can’t stop cryptocurrencies, but they can make it much harder to access them
  • “Four Notable Partnerships Between the Fintech and Financial-Services Sectors in 2021” via (The International Banker) - Nicholas Larsen, a writer at International Banker, highlights several exciting partnerships that have been formed between the two sectors in 2021
  • “The future of digital ecosystems in the fintech space” via (Fintech Magazine) - Joanna England, editor at Fintech Magazine, leads a discussion on a topic: “Outsourcing technical processes have helped the fintech industry scale fast. But what is the future for digital partnerships once the industry matures?”
  • “Diem: A Dream Deferred?” via (Coindesk) - Daniel Kuhn, author at Coindesk, tries to find out if Diem what the world actually needs
  • “Financial inclusion: understanding the needs of the underbanked” via (Fintech Futures) - Andrew Arwas, a head of corporate development, Chetwood Financial, elaborates on the launch of Basic Bank Accounts, aimed at creating a product which anyone could have
  • “Detect: The Third Pillar of Industrial Cybersecurity” via (Cyber Security) - Yaniv Vardi, a CEO of Claroty, emphasized the importance of being able to detect and respond to potential threats quickly and effectively when they surface
  • “Fintech innovation and the cloud: securely connecting the future of banking” via (Fintech Futures) - Warren Aw, managing director, APAC at Epsilon, explores the fact that financial institutions such as banks have been some of the most aggressive and largest adopters of cloud, accounting for as much as 16% of total global cloud expenditures, according to IBM
Read more about these analyses HERE.
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Connect with the fintech ecosystem at some of the upcoming events
Join this event in Amsterdam, 21 - 23 September, 2021, where the industry’s leading Financial Services innovators come together to connect and create the future of money. Money20/20 is the largest fintech event enabling payments and financial services innovation for connected commerce.
For the Holland FinTech Network, Money20/20 has a special offer: 300 euros discount! Code: HOL300
Register HERE.
europe.money2020.com  •  Share
Holland FinTech Online Meetup - Holland FinTech
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!
This Holland FinTech Online Meetups is going to be all about Neobrokers. Together with ING, we have lined up a panel of CEO’s of 3 major player in this booming field. Learn all about Bux, DeGiro-Flatex and Lynx.
Register HERE.
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Finnovex Middle East SEPTEMBER 7 – 8, 2021 - Middle East leading summit on Financial Services Innovation and excellence 2021
Finnovex aims to bring together top professionals and C-level executives from the financial and financial services industry to examine how technology is changing the delivery of banking and financial services. Finnovex Middle East will discuss the roles of banking and non-banking institutions, financial organizations, investment firms, fintech companies, and other stakeholders in developing incentives to the paradigm shift in this sector. Middle East leading summit on Financial Services Innovation and excellence.
Register HERE.
me.finnovex.com  •  Share
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