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Global FinTech News - SoFi, Galileo, Google Pay, ABN Amro, Aye Finance, Neat

We’re arriving at a weird place - some countries to continue to have self isolation orders in place,
Global FinTech News - SoFi, Galileo, Google Pay, ABN Amro, Aye Finance, Neat
By Holland FinTech  • Issue #41 • View online
We’re arriving at a weird place - some countries to continue to have self isolation orders in place, some are relaxing them and some are tightening the belt yet again. What does this mean for FinTech? For starters, that the power of community in the fintech space is stronger than ever - check out these self-isolating coders working to support freelancers. Although digital finance has been ramping up for some time, the covid-19 crisis is lining it up for the runway - supersonic flight ahead. Don’t think so? just look at this: Google Pay was the world’s most downloaded payments app in February 2020. India based PhonePe was not far behind. Economic stimulus packages are abound, and in Singapore this is no exception as the government launches a 70 million USD package aimed at the FinTech sector and stimulating digital financial services. The funding dip often spoken about in relation to the COVID-19 pandemic was nowhere to be seen this as we saw major investments like Aye finance securing 23 Million USD, Yapily raising 13 million USD and HK Fintech bank Neat taking home 11 million USD. Incumbent banks continue to have faith in fintech too, with ABN AMRO joining Privitar’s 80 million USD funding round. All in all: a good week for FinTech. Take a look at all things FinTech&COVID-19 on our resource page here.
We hope you had a good week and are staying safe & healthy! Eager to learn more? Check out the insights section on our website!
- The Holland FinTech Team

Highlights from last weeks news related to fintech
A team of self-isolating entrepreneurs from London’s FinTech sector have built a proof of concept which aims to support the UK’s five million self-employed in the COVID-19 economic crisis.
www.finextra.com  •  Share
Another major FinTech exit as SoFi acquires banking and payments platform Galileo for $1.2B (~€1.1B)
The fintech wars continue to heat up with another major exit in the space. Consumer financial services platform SoFi announced today that it is acquiring payments and bank account infrastructure company Galileo for $1.2 billion (~€1.1 billion) in total cash and stock.
techcrunch.com  •  Share
Fintech firms join forces to create hardware-free mPOS for Android handsets
Micro-merchants are set to benefit from the efforts of a fintech consortium to develop a new Android-based mPOS systemю
www.techradar.com  •  Share
Google Pay and PhonePe top global fintech download chart in February
Google Pay was the most downloaded fintech app worldwide for February 2020, followed by PhonePe with 15.6 mn and 6 mn installs respectively.
entrackr.com  •  Share
Banks And Fintech Companies Accepting Paycheck Protection Program Loan Applications From New And Non-Bank Customers
Most banks are only accepting applications from current customers, creating a major hurdle for many businesses. That’s starting to change, however. Some banks are now taking applications from new and non-bank customers. There are also some third-party FinTech companies stepping in to help.
www.forbes.com  •  Share
Singapore dangles $70M (~€64M) package to help FinTech, FSI firms drive digital efforts
Monetary Authority of Singapore will set aside SG$125 million (~€64 million) to help the financial services industry boost its digital capabilities and provide FinTech firms better access to digital tools.
www.zdnet.com  •  Share
The largest funding rounds we found from across the world
UK-based data privacy startup Privitar has raised $80 million (~€73 million) in a Series C funding round led by Warburg Pincus and joined by ABN Amro Ventures.
hollandfintech.com  •  Share
Indian Fintech Aye Finance Secures $23.8 Million (~€21.7 Million) in Debt Funding
Indian Fintech Aye Finance secures $23.8 million (~€21.7 million) in debt funding within 15 days from major local and international investors.
www.crowdfundinsider.com  •  Share
Open banking FinTech Yapily raises $13M (~€12M) Series A
Yapily, one of a number of FinTech startups that offer an opening banking API to let enterprises, such as financial service providers and merchants, connect to banks, has raised $13 million (~€12 million) in Series A funding. Leading the round is Lakestar, which is also a backer of fintech unicorn Revolut.
techcrunch.com  •  Share
SME-focused FinTech firm Neat banks $11m (~€10m) in series A funding
Neat, a fintech startup from Hong Kong that provides financial services to small businesses, said it has raised US$11 million (~€10 million) in a series A round.
www.techinasia.com  •  Share
Hong Kong startup Neat raises $11M (~€10M) Series A to give small companies more financial services
Neat, a Hong Kong-based FinTech startup, announced today that it has raised a $11 million (~€10 million) Series A to help small businesses do cross-border trade. The round was led by Pacific Century Group, with participation from Visa and MassMutual Ventures Southeast Asia, and returning investors Dymon Asia Ventures, Linear Capital and Sagamore Investments.
techcrunch.com  •  Share
Programmable FinTech payments startup Sila raises $7.7M (~€7M) seed to wipe out ACH
Fintech is white hot these days, with major acquisitions and funding rounds galore. It’s also a relatively new space, with startups only really breaching the thicket of regulations that defines the modern banking and finance world in the past few years.
techcrunch.com  •  Share
A selection of recent research reports and papers worth reading
The retail tech report is a data-driven look at deals, financing, and themes in key retail tech sectors in 2019. Learn about what these tech trends mean for 2020.
www.cbinsights.com  •  Share
Consultation on a new digital finance strategy for Europe / FinTech action plan
Public consultation on a new digital finance strategy for Europe / FinTech action plan.
ec.europa.eu  •  Share
AI in Fintech Industry
Global Market Share, Size, Investment Analysis, Trends, Growth, Development Factors, Future Scope, Challenges and 2025 Forecast Research Report
sciencein.me  •  Share
FinTech Investment Market to Reach $152.94 billion (~€139.66 billion) by 2025
Global Fintech Investment Market to reach USD 152.94 billion (~€139.66 billion) by 2025. Global Fintech Investment Market valued approximately USD 39.6 billion (~€36.1 billion) in 2017 is anticipated to grow with a healthy growth rate of more than 18.40% over the forecast period 2018-2025.
sciencein.me  •  Share
Greater Manchester has largest regional FinTech ecosystem (Report & Map)
A new report from Whitecap Consulting has found Greater Manchester is home to a thriving and growing FinTech sector, which (outside London) is the largest regional FinTech ecosystem in England.
thefintechtimes.com  •  Share
Background information and insights from opinion leaders and experts
FinTech companies are well-equipped to help implement congressional stimulus. They can handle large volumes of data, automate processing, increase financial inclusion, and are set up to move with speed. Let them help administer the recovery from this downturn!
www.forbes.com  •  Share
Take The Lead: The Race Is On For The First Fintech Unicorn To Emerge Out Of The Middle East And Africa Region
Our challenges here relate largely to the barriers created by existing banking systems, which will take time to overcome, and regulatory challenges that regulators across the region are already working hard to rectify.
www.entrepreneur.com  •  Share
6 investors and dealmakers predict which fintechs will soar and which will flop as funding dries up and markets go haywire
Top fintech backers and dealmakers said retail trading could see a boost while digital lenders could slump amid the coronavirus crisis.
www.businessinsider.com  •  Share
Statement by the FATF President: COVID-19 and measures to combat illicit financing
As the global standard‑setter for combating money laundering (ML) and the financing of terrorism (TF) and proliferation, the FATF encourages governments to work with financial institutions and other businesses to use the flexibility built into the FATF’s risk-based approach to address the challenges posed by COVID-19 whilst remaining alert to new and emerging illicit finance risks.
www.fatf-gafi.org  •  Share
FinTech’s uneven new reality has helped some startups, harmed others
FinTech startups were hot news before the COVID-19 era, but the pandemic hasn’t bumped the sector out of the headlines. Companies that were pitching optimistic news a few weeks ago are now cutting staff. Others are facing a surge of users trying to find their financial footing in the face of uncertainty.
techcrunch.com  •  Share
Coronavirus: UK fintech offers to help with CBIL scheme and government support
Companies doing everything from online lending to client onboarding say they can help get money to people and businesses faster.
finance.yahoo.com  •  Share
Connect with us at some of the upcoming events
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!
hollandfintech.com  •  Share
MoneyNext Summit 2020 - London, United Kingdom
#MoneyNext Summit is the leading event to address the financial landscape in 2020 and beyond – offering unparalleled access to decision makers, visionaries, influencers and disruptors from the world of finance. 200 inspirational speakers and 25 of the most innovative next-gen vendors discuss, demo and showcase the latest industry innovations.
20% Members-Only Discount available.
hollandfintech.com  •  Share
London Tech Week 2020 - London, United Kingdom
London Tech Week will be returning on the 2 – 10 September 2020, bringing our global tech audience the innovations, technologies and business partners they need for the next chapter of their growth.
hollandfintech.com  •  Share
Cognitive Finance AI - Berlin, Germany
The 2-day event is a unique combination of inspirational keynotes, well-moderated, interactive World Cafés, Challenge your Peers sessions, a pre-event Workshop, Icebreakers and much more.
Be part of our exclusive platform that explores business models, case studies, actions, and profitability and identify missing gaps that hide opportunities, chances and potential solutions for your technical and business challenges.
hollandfintech.com  •  Share
Ready to get involved? Click here to find out more.
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