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Global FinTech News - 5th November 2021

Global FinTech News - 5th November 2021
By Holland FinTech  • Issue #123 • View online
Dear reader,
In a week where all eyes are on the COP26 in Glasgow, the current autumn climate is sending more people to testing streets and more people into the hospitals with Covid-19, driving new worries and measures across Europe.
We keep our focus on fintech, so you can ​discover the latest developments and news, stay current and gain innovative global perspectives from our wide network. You can also find information about our next events, analyze Funding and breakthroughs within the industry, read through our Research findings, and explore the latest Analysis & Opinions from across the world. Happy reading!
From the Holland FinTech team, we wish you a great weekend!

Connect with the fintech ecosystem at some of the upcoming events
Join our Holland FinTech Meetups, where the international Fintech ecosystem gathers online or in Amsterdam if possible. Get energized with latest tech updates, new startup projects, recent insights and exquisite networking! We are very excited to meeting you there!
Register HERE.
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FinTech Conference London November - Homepage - Fintech Talents
A hybrid fintech event featuring 3,000 festival-goers + rockstar speakers & steering committee members + over 100 hours of content sessions + game changing tech companies + tech partnerships + craft beer and live music sessions.
Register HERE.
www.fintechtalents.com  •  Share
Regulation and Risk Management of Artificial Intelligence in Financial Services
This event will focus on how best to adapt regulation and best practice risk management to facilitate increased use of AI in financial services.
Register HERE.
www.cityandfinancialconferences.com  •  Share
AIBC Summit. Worlds Premier Event for Emerging Tech
Bringing together thousands of investors and innovators in Blockchain, Fintech, Artificial Intelligence, Quantum Technology, Big Data and the Internet of Things.
Register HERE.
aibc.world  •  Share
Highlights from last weeks news related to fintech
Stay up to date with the latest news from fintech! This week, we bring you updates and developments on payments, banking, partnerships, trading and more:
  • France FinTech and Binance, announced the launch of a EUR100 Million initiative to support the development of the French and European blockchain and cryptocurrency ecosystem
  • Ualá, an Argentine fintech firm announced it had reached an agreement to purchase Mexican bank ABC Capital, which will allow it to accelerate its growth plans in the North American country
  • Trading Technologies has agreed to be acquired by 7RIDGE, the private equity fund owned by former Deutsche Börse chief Carsten Kengeter
  • Squid Game crypto, the latest cryptocurrency sensation, crashed to $0 from $2,861 after it appeared to be scam and founders reportedly ran away with $2.5 million
  • Paytm, an Ant Group-backed fintech firm, has allocated shares worth 82.35 billion rupees ($1.11 billion) to more than 100 institutional investors, including the government of Singapore
  • TradeStation Group, Inc. and Quantum FinTech Acquisition Corporation, announced an agreement through which TradeStation will become a publicly traded, NYSE-listed company
Read more about this week’s news HERE.
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The largest funding rounds we found from across the world
This week’s prominent fundings are shared by multiple sectors, including payments, fintech, security, anti money laundering, mobile wallets and more:
  • Mynt (Metro Manila, Philippines), the company behind Philippine mobile wallet GCash said that it raised $300 million (€259,6m) in capital from U.S. private equity firms Warburg Pincus and Insight Partners
  • HoneyBook (San Francisco, CA, US), a fintech company, announced on Wednesday that it has raised a $250 million (€216,4m) Series E
  • Vastu Housing Finance Corporation Ltd. (Mumbai, Maharashtra), an Indian housing finance company, raised US$200m (€173,1m) in Series C financing
  • Billie (Berlin, Germany), a Buy Now, Pay Later (BNPL) payment methods for businesses sector company, has announced Series C funding round of $100 million (€86,5m) to expand into the UK and other international markets
  • Prepaid Technologies (Birmingham, Ala.), a provider of prepaid digital payment solutions, raised $96m (€83,1m) in growth funding
  • Extend (San Francisco, CA, US), a digital payments infrastructure provider, became the latest payments firm to raise significant funds for the expansion of its operations. The fintech startup raised $40 million (€34,6m) in a Series B investment round led by March Capital
  • Other interesting funding rounds this week: M2P Fintech $35 million (€30,2m), Swap $25 million (€21.6m), Tarabut Gateway $25m (€21.6m), First AML $21m (€18,1m)
Read more about this week’s funding HERE.
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A selection of recent research reports and papers worth reading
For this week, we dive into new insights on human errors, insurtech, business activity, payments, funding and SMEs:
  • “The 2021 Inclusive Fintech 50” (Inclusive Fintech 50) - The Inclusive Fintech 50 initiative leverages a competitive process led by an independent judging panel of experts to identify 50 early-stage fintechs driving financial inclusion and resilience
  • “Saudi Arabia sees $347m fintech investments as sector continues to boom” (Arabian Business) - This Fintech Saudi Annual Report indicates that the number of fintech companies has grown by more than a third over the past year. The number of fintech companies operating in Saudi Arabia has grown by more than a third over the past year with investments exceeding SR1.3 billion ($347 million)
  • “KPMG: Fintech sector growth is being driven by M&A” (Startup Daily) - The KPMG Fintech Landscape 2021, an annual survey of independent fintechs that are either active and/or headquartered in Australia, reveals there are currently 718 active fintechs, up from 701 in the previous landscape report released in December last year
  • “FinTech Global Regulatory Round-up – w/e 22 October 2021” (Legoloxy) - In this regular update, FinTech-related regulatory developments, reports and insights for October are rounded-up
  • “Fintech Investments Have Hit $91.5 Billion In 2021, Nearly Doubling Last Year’s Total” (Forbes) - According to CB Insights’ State of Venture Report, forty-two fintech companies became unicorns in the third quarter alone, making up a third of total unicorn births
Read more about this week’s research HERE.
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Background information and insights from opinion leaders and experts
And we’re finishing off the week with new details on crypto, decentralization, Brexit, fintech-as-a-service, embedded banking and BNPL fraud:
  • “How ‘Stablecoins’ Could Unleash Chaos” via (Yale Insights) - Susie Allen, writer at YALE, discusses dollar-pegged cryptocurrencies like Tether, Paxos, and Facebook’s Diem are rapidly proliferating
  • “Decentralized Finance: What It Is, Why It Matters” via (Future) - Marvin Ammori, analyst at Future, explores all the hype, buzz, skepticism, confusion, and excitement around decentralized finance aka “DeFi,” the ecosystem of blockchain-enabled products and services that replace traditional financial intermediaries with freely accessible, autonomous, and transparent software
  • “Two years on: Brexit and the Fintech space” via (Fintech Magazine) - Joanna England, writer at Fintech Magazine, highlights the fact that it’s been almost a year since the UK ended its Brexit transition period with the EU, and takes a look at the post-Brexit impact on the UK’s fintech industry
  • “THE UNSTOPPABLE RISE OF FINTECH-AS-A-SERVICE” via (International Banker) - Hilary Schmidt, writer at International Banker, discusses the importance of financial technologies in 21sy century
  • “SEON: BNPL Fraud Is Growing, and Fintech Companies Need To Adapt” via (Fintech Times) - Writers at Fintech Times, point out the fact that whilst the popularity of Buy-Now-Pay-Later products garners a remarkable level of traction worldwide, there has been an equal rise in the number of cybersecurity instances associated with this form of payment
  • “Embedded fintech versus embedded banking – a critical difference” via (GBF Review) - Jennifer Geis, senior analyst at Jack Henry, explores Jack Henry & Associates’s recently conducted annual Technology Capabilities Assessment
Read more about this week’s analysis HERE.
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