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.
Banks open up applications for $40,000 interest-free emergency business loans(BETAKIT)
On Thursday, April 9, banks officially opened up applications for the $40,000 interest-free loan program introduced as a way to support small businesses.
So many FinTech eggs in so many baskets(TECHCRUNCH)
Most of us know about Clearbanc’s revenue-based financing model; this is a twist. But it’s good to see companies work to adapt their products to help other startups survive.
Banking API platform Sila raises $7.7M on promise of programmable money(COINDESK)
Banking services provider Sila has raised $7.7 million to build out features for a platform that allows entrepreneurs to easily launch programmable, USD-pegged stablecoins.
Yapily raises €12 million to drive open banking across Europe(EU STARTUPS)
Yapily works ‘behind the scenes’ helping companies meet rising customer expectations in banking, lending, payments, accounting and money management.
BDC launches matching investment program for Canadian VC-backed companies affected by COVID-19(BETAKIT)
A letter shared by the CVCA says BDC Capital has launched the Bridge Financing Program meant to support venture-backed companies with matching investments.
FinTech’s uneven new reality has helped some startups, harmed others(TECHCRUNCH)
FinTech startups were hot news before the COVID-19 era, but the pandemic hasn’t bumped the sector out of the headlines.
SoFi acquires banking tech firm Galileo for $1.2 billion(FORTUNE)
Personal finance platform SoFi announced that it has acquired Galileo, a technology company that powers a range of financial upstarts including Robinhood, Revolut, and Chime.
Neat raises $11M in Series A funding(FINSMES)
Neat, a Hong Kong-based FinTech company offering modern financial solutions to SMEs and startups, raised $ 11m in Series A funding.
Canadian Advanced Technology Alliance urges feds to release backlogged SR&ED funding(BETAKIT)
The Canadian Advanced Technology Alliance submitted a funding proposal to the federal government to preserve tech jobs and companies during COVID-19.
Interac sees digital and contactless payment rush as consumers hunker down during coronavirus pandemic(BETAKIT)
There were 51.9 million e-transfers sent through Interac in March, the first time the 50-million mark has been crossed in a month.