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.
Flexiti Financial raises $6.25 million to scale POS lending platform for retailers(BETAKIT)
Flexiti Financial raises $6.25 million to scale POS lending platform for retailers
STACK RECOMMENDS: EY FinTech Adoption Index (EY)
“Canada’s on a roll. FinTech adoption rate more than doubles in 18 months.”
– Miro Pavletic, CEO and co-founder of STACK
SoftBank invests $250M in Kabbage(FINEXTRA)
The investment, which brings Kabbage’s total funding to nearly $500 million, will be used to expand the company’s lending products for small businesses, push the SaaS platform for banks, and to “explore” non-lending products and services.
Alex Tapscott launches $20 million investment company focused on bitcoin and ethereum(BETAKIT)
Alex Tapscott is a co-founder of the Blockchain Research Institute.
When blockchain meets big data, the payoff will be huge(VENTUREBEAT)
If there is a “sweet spot” for blockchain, it will likely be the ability to turn insights and questions into assets.
FinTech startup Bread raises $126 million in bid to finance big online purchases (FORBES)
Bread, which offers consumer financing on large online purchases, raised the round from Menlo Ventures, with participation from Bessemer Venture Partners, RRE Ventures and others.
Lending Loop raises $2 million, launches automated investment platform(BETAKIT)
Lending Loop said that to date, the company has facilitated over $7 million of financing to small businesses.
N26 partners with Auxmoney to offer credit to more customers(TECHCRUNCH)
The expanded loan offers include amounts from €1,000 to €25,000 at a duration of 12 to a maximum of 60 months, and interest rates from 3.95%, depending on maturity and credit rating.
RentMoola raises $5 million to accelerate growth in North America(BETAKIT)
To date, RentMoola has raised $10 million.
ID Finance and Da Vinci Capital launch $200M FinTech fund(FINEXTRA)
The FinTech fund will provide funding to FinTech companies with a focus on alternative lending.
Global FinTech investments double to $8.4B in a single quarter in 2017(SILICONREPUBLIC)
In the Americas, a single deal – the buyout of Toronto-based DH – accounted for US$3.6 billion in deal value, contributing to more than half the total FinTech funding during Q2’17.
Budgeto wants to turn early-stage entrepreneurs into financial experts(BETAKIT)
Budgeto said that it will soon surpass over 10,000 startup customers.
Neyber closes £21M Series C funding(FINSMES)
Neyber, which provides a financial wellbeing platform for UK employees, raised the funds from Wadhawan Global Capital and existing investors.
Blackstone/CVC agree £2.96 billion deal for Paysafe(FINEXTRA)
The deal will give Blackstone and CVC exposure to the online gambling industry, a significant business sector for Paysafe whose pre-paid digital wallet facilitates bets without taking money from bank accounts.
RBC users can make bill payments with Siri(BETAKIT)
RBC has also added the ability to make Interac e-Transfer payments within iMessage.
