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Global FinTech News - 8th July 2022

Global FinTech News - 8th July 2022
By Holland FinTech  • Issue #158 • View online
Dear reader,
This week a crowd of 68,781 watched England edge past Austria in the UEFA Women’s EURO 2022 opener, obliterating the all-time record.
Additionally, having apparently delayed the inevitable for as long as he could, Boris Johnson finally took to a podium outside 10 Downing Street on July 7 to say he would be stepping down as leader of the Conservative Party. This ultimately means his time as prime minister is over.
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.
🔔 We’ve saved our last open sponsorship spaces for XFW 2022 for you 🔔
Don’t want to miss a week full of educational programs throughout Amsterdam. By joining us, you’ll benefit from brand awareness, international audiences, and network/connection with professionals in the industry during a full week of events throughout Amsterdam. To get more updates and register for this event click here. To get an exclusive discount code for members - visit Member Portal.
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Web3 is here - what does this mean for you and your business? - 12 July
If you’re trying to put the pieces of the Web3 puzzle together, join us for this panel discussion to Spill the Web3 Tea. Join Web3-startup rapidfire pitches, industry leaders and investors in the field, and AWS thought leaders to go through what Web3 actually is, how it’s being used in different industries, and what it could mean for your business.
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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 partnerships, lending, banking, crypto, NFT and more:
  • Crypto exchange FTX is close to finalizing a term sheet to buy BlockFi and a deal is expected to be signed by the end of this week
  • Unknown hackers claimed to have stolen data on as many as a billion Chinese residents after breaching a Shanghai police database, in what industry experts are calling the largest cybersecurity breach in the country’s history
  • Meta, the parent company of Facebook, is planning to launch access to digital collectibles, despite the current crypto market turmoil
  • Venture capital fund Headline has been investing in tech startups since — get this — 1999, which might tempt headline writers, perhaps unfairly, to apply the word “dinosaur,” if the fund hadn’t continued to remain so active since then
  • The Wall Street Journal reported that the Swedish buy now, pay later bank Klarna is reportedly raising $650 million at a $6.5 billion valuation, giving new meaning to the phrase “down round”
  • Thrive announced that it has acquired Connecticut-based Edge Technology Group, a global technology advisory and fully-managed IT service provider for alternative investment managers
Read more about this week’s news here.
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The largest funding rounds we found from across the world
Many more deals and transactions from fintech this week! This week’s prominent fundings are shared by multiple sectors, including fintech, payments and NFT:
  • YuLife (London, UK), has raised $120 million (118m EUR)led by Japanese insurer Dai-ichi Life, valuing the British insurtech firm at $800 million as it plans to expand into the United States and South Africa, its CEO said.
  • UAE-based digital banking app YAP has raised more than US$40mn (39.4m EUR) in funding and is reportedly targeting US$20mn more as it prepares for expansion.
  • UnDosTres, a Mexican fintech company advancing airtime top-ups, service payments and entertainment purchases, closed a US$30 million (29.6m EUR) Series B funding round.
  • The UK government’s development finance institution, British International Investment (BII), formerly known as CDC Group, has announced a $20 million (19.7m EUR), four-year structured credit investment in Moove, a mobility fintech aiming to democratise access to vehicle ownership in Africa.
  • Tesorio, a San Francisco, CA-based provider of an accounts receivable management platform, raised USD17M (16.8m EUR) in Series B funding.
  • Other notable funding includes: Deshe Analytics Raises $6.5M (6.4m EUR) in Seed Funding, MoHash Raises $6M (5.9m EUR) in Seed Funding and €1.5 million investment for A.I. contract cancellation service Closure.
Read more about funding here.
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A selection of recent research reports and papers worth reading
For this week’s research article, we dive into new insights on fintech market, banking, insurance, payments, trends, diversity in fintech and more.
  • “AI in FinTech Industry Analysis By The Business Research Company” via (PR Newswire) - The AI in fintech market consists of sales of AI as software by entities (organizations, sole traders, and partnerships) that are used in the fintech space. AI is a part of fintech companies in terms of collection of data, analyzing information, securing and facilitating transactions, creating customer-centric products, and streamlining processes.
  • “Congress exploring ways to diversify the fintech industry” via (WPXI) -Fintech and venture capital investments are growing nationwide, but research shows a majority of tech startups are based in Silicon Valley and lack diversity.
  • “Agility, resilience and impact: How fintech charted a positive course through the global pandemic” (European Sting) - When the Global COVID-19 Fintech Market Rapid Assessment Study provided a snapshot of the fintech market’s performance during the first six months of the global pandemic, the indications were that it had fared pretty well.\
  • “How HR can use fintech to empower staff” via (Hcamag) - Cost of living pressures and rising inflation around the globe combined with falling real wages is affecting many Australians – making workers feel more financially stressed than ever before.
  • “High Demand for Digital Payments, 1.4 Billion People May Use Biometrics Payments by 2025” via (Financial Magnats) - BNPL is popular among millennials and Gen Z according to a new study. Cashless payments in Southeast Asia is expected to reach $1 trillion by 2030.
Read more about research here.
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Background information and insights from opinion leaders and experts
And we’re ending the week with new details on crypto, money transfer, fintech funding, payment process, debt crisis and more. Dive into the latest..
  • “How banks can protect customers from impersonation fraud” via (Fintech Futures) - Impersonation fraud is rising at an alarming rate.
  • “Governments May Restrict Foreign Access to Their CBDCs, Riksbank Official Says” (Coindesk) - Not all countries “play nicely” with each other, complicating how central bank digital currencies will interact with other payment systems, said Cecilia Skingsley, first deputy governor at the Swedish central bank.
  • “WTH are ZKPs? Making blockchain transactions private” via (Fintech Futures) - Distributed ledger technology (DLT) underpins many fintech applications, from cryptocurrencies and other digital assets such as non-fungible tokens (NFTs), to central bank digital currencies (CBDCs).
  • “Dark Days Ahead For Bitcoin, Claims This Well-Known Analyst” via (Coinpedia) - Prominent crypto analyst Tone Vays is seen alerting that Bitcoin’s (BTC) current market behavior is not promising. Through his new video, Vays informs his 121,000 Youtube admirers that Bitcoin’s technical index points out that the King currency may be in danger.
  • “The next frontier in global payments goes beyond borders” via (Fintech Futures) - One of the more interesting innovations within fintech to watch has been the technology that connects consumers to merchants.
Read more about analysis and opinion here.
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