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.
FreshBooks founding CEO Mike McDerment steps down as executive director Don Epperson takes over (BETAKIT)
Mike McDerment, founder and longtime CEO of FreshBooks, has stepped down and is being replaced by board member and executive director Don Epperson.
Why San Francisco-based VC Hustle Fund Is Betting Big on Canada
“At Hustle Fund, we’re convinced that Canada is positioned well to produce some of the largest, category-defining companies on the planet. We’re eager to fund these companies, and excited to partner with Hockeystick to identify these opportunities!” – Eric Bahn (General Partner)
Since launch, Hockeystick has made over 6000 funder recommendations to Canadian startups. Learn how startups are using technology to meet funders around the world.
Visa, Plaid call off $5.3 billion deal (REUTERS)
The U.S. Justice Department had sued to stop the deal in November, saying that Visa was a “a monopolist in online debit transactions” and that the proposed acquisition “would eliminate a nascent competitive threat” to that monopoly.
Affirm almost doubles in debut after $1.2 billion IPO (BLOOMBERG)
Affirm Holdings Inc. almost doubled in its public market debut, the latest multibillion-dollar technology company to start trading significantly higher than its initial public offering price.
Checkout.com raises $450 million and reaches $15 billion valuation (TECHCRUNCH)
If you’re not familiar with the company, Checkout.com wants to build a one-stop shop for all things related to payments, such as accepting transactions, processing them and detecting fraud.
Providing a money experience: MX banks on $300M Series C (CRUNCHBASE)
FinTech data company MX aims to connect people with their financial data in a way that automates their “money experience.”
Australia-based Afterpay expands offering into Quebec as buy now, pay later space heats up (BETAKIT)
Australia-based Afterpay will now offer its services in French in a move to target the Quebec buy now, pay later (BNPL) market.
Blend raises $300 million Series G at $3.3 billion valuation (FINLEDGER)
The round comes just five months after a $75 million Series F financing.
Payments startup Rapyd doubles valuation to $2.5 billion as COVID turbocharges growth (CNBC)
Payments technology startup Rapyd has raised $300 million in a mega funding deal which doubles its valuation to $2.5 billion.
Walmart creates FinTech partnership with Ribbit Capital (WALL STREET JOURNAL)
Walmart Inc. said that it has joined with investment firm Ribbit Capital to create a new FinTech startup to further expand its financial-services offerings.
Shopify VP Loren Padelford on four things e-commerce entrepreneurs need to keep in mind for 2021 (BETAKIT)
Shopify VP Loren Padelford shares four things e-commerce entrepreneurs need to keep in mind for 2021.
SoftBank-backed Grab snags $200 million from private equity firm (BLOOMBERG)
Southeast Asian ride-hailing leader Grab Holdings Inc. is raising $200 million from South Korean private equity firm Stic Investments Inc., according to people familiar with the matter.
Vietnam mobile wallet MoMo raises about $100 million, aims for IPO (REUTERS)
The latest funding would support the growth of MoMo as an all-in-one smartphone application offering multiple services, which have proved successful in countries like China and Indonesia.