F|T: The FinTech Times – Scooping up FinTech

Welcome to the FinTech Times, a weekly newsletter covering the biggest FinTech news from around the globe. If you want to read F|T before anyone else, make sure to subscribe using the form at the bottom of this page.

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STACK FinTech Times


BetaKit

NewOak partners with LendingArch to purchase $2 billion in loans

With NewOak purchasing from LendingArch, the loans will be removed from LendingArch’s books, freeing them to provide more flexible loans to Canadians.


Stack

STACK RECOMMENDS: ‘I feel duped’: Why bank employees with impressive but misleading titles could cost you big time

“It’s time we all took a hard look at where we get our financial advance from.”
– Miro Pavletic, CEO and co-founder of STACK


Bloomberg Technology

Big banks poised to scoop up FinTech startups, report finds

Almost 50 percent of financial services firms around the world plan to acquire FinTech startups in three to five years, according to a new Global FinTech Report by PwC.


TechCrunch

Trov adds $45 million for the global expansion of its on-demand insurance

The company, which provides on-demand insurance for individual items, raised the round from Munich Re HSB Ventures.


Finextra

ISO rolls out new standards for mobile banking

The new set of specifications for mobile banking aims to promote financial inclusion.


BetaKit

Financeit and Concentra renew $100 million funding facility

The renewal comes nearly a year after the two companies first announced a $100 million funding facility.


Finextra

Sweden, UNEP and FinTechs collaborate for sustainable finance

The Stockholm FinTech Hub is supporting Sweden and the United Nations Environment Programme to pilot the UN’s 2030 vision for sustainable finance.


TechCrunch

BNP Paribas acquires Compte Nickel

While Compte Nickel wanted to revolutionize retail banks, the startup got acquired before it could become a serious contender on the French market.


PYMNTS.com

Stripe of Turkey Iyzico completes $15M VC round of funding

The startup, which enables ecommerce sites and other apps to accept online payments, raised the funds from Vostok Emerging Finance, with participation from previous investors.


Financial Post

The banker, the venture capitalist and eight others changing the way we think, work and play

The Financial Post Magazine highlights a group of Canadians who are knowingly changing the way the industries and societies work. Among them are key FinTech players.


Silicon Republic

London-based FinTech firm Meniga raises €7.5m in latest round

Nordic VC Industrifonden led the round, which also included current investors Velocity Capital, Frumtak Ventures, and Kjölfesta.


BetaKit

Wattpad, Wealthsimple, and Overbond join the Upside Foundation

Canadian startups who make the pledge will donate a small portion of their equity to The Upside Foundation (typically in the form of stock options), which are converted to cash upon a liquidity event and donated to the charity of the company’s choosing.


TechCrunch

Money transfer startup Azimo now lets you send money to a phone number

Specifically, Azimo’s new functionality enables users to request, send, and receive cash internationally using a mobile phone number.


Finextra

Battle for IP ownership challenges FinTech collaboration

Banks and asset managers are being hampered in their efforts to work with FinTech firms by the desire to own intellectual property, according to research from law firm Simmons & Simmons.


Financial Post

Beyond the big banks: Three FinTech apps you need right now

As tech-savvy mellennials demand better banking experiences, these three FinTech innovators are working to change the industry and meet that demand.


BetaKit

Street Contxt raises fresh round with Portag3, brings total funding to $15M USD

The round was led by existing investor Joe Lonsdale of 8VC and Point72 Ventures, the early-stage venture capital strategy of Point72 Asset Management. The round also included New York-based Palm Drive Capital and Portag3 Ventures.


Forbes

Collaboration is the way forward for banks and FinTech

Banking, as we know it, is changing because of FinTech, but it would take a major event of cataclysmic proportions to do away with banking institutions.


Finextra

TradeShift partners with CreditEase on trade financing app

CreditEase, a peer-to-peer lender in China, can now deliver accounts receivables financing to millions of fast-growing small and medium enterprise via a trade-financing app.



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Amira Zubairi

Amira Zubairi

Amira Zubairi is a staff writer at BetaKit. As a fourth-year journalism student who has written primarily about entrepreneurship, Amira has developed a growing interest in Canadian startup, business, and tech news. In her free time, Amira enjoys reading, baking and watching legal shows.