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Only 18 percent of Canadian survey respondents said they used two or more FinTech services in the last six months, compared to 33 percent globally.
“1/2 of Canadians $200 away from not being able to pay their bills while banks post record profits. It’s time to #BranchOut.”
– Miro Pavletic, CEO and co-founder of STACK
So far this year there have been 496 deals globally, raising a total of $8 billion, according to a new report from CB Insights.
Global VC investment for FinTech in H1 2017 attracted $6.5 billion of VC investment with 787 deals, a 45% decrease year on year, according to statistics compiled by Innovate Finance.
Financeit has appointed Ryan D’Souza as its vice-president of sales, and Jennifer Honey Brannon as its vice-president of human resources.
Visa is making $25 million strategic investment in Marqeta, which has developed low-code technologies that enable businesses to manage their own transaction processing.
Dubai’s government plans to conduct a majority of the emirate’s business using blockchain, which it expects will make government services more efficient and help promote enterprise in Dubai as it will become easier to do business there.
Smooth Commerce, a mobile payment and marketing platform for retailers, has appointed Bonnie Brooks to its advisory group.
The London-based insurtech startup raised the seed funding from LocalGlobe and FTSE 100 company Aviva.
Sunstone Capital led the financing round, which was also joined by previous investor White Star Capital.
Despite being larger and better funded, Fortune 500 financial companies often fall short of their small and scrappy competitors that bring to life the “less is more” concept – operating at lower costs and using smaller teams and minimal regulation to their advantage.
The follow-on funding round is led by LocalGlobe, with participation from Skype founder Niklas Zennström, Entrepreneur First (EF), and Jason Goodman, the founder of advertising agency Albion.
The United States Federal Reserve is studying ways to facilitate faster payments in the US.
The arrangement will allow the Baidu’s 100 million mobile wallet users to make payments to PayPal’s 17 million merchants through the Baidu service.