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.
Ledn raises $3.4 million CAD to accelerate the growth of its Bitcoin-backed lending platform (BETAKIT)
The round was led by New York City-based White Star Capital as part of its Digital Asset Fund.
Ramp previously raised a $30 million Series B in late December 2020, after raising a $23 million Series A earlier in the same year.
Toronto-based crypto startup Coinsquare has launched a new app that allows Canadians to buy, sell, and trade digital assets. Vancouver-based FinTech startup Mogo has also agreed to purchase a 20 percent equity stake in Coinsquare.
Wealthsimple’s membership has exploded in recent days — and its founder is alarmed (THE TORONTO STAR)
Wealthsimple CEO Michael Katchen says all investors should be wary of a “get-rich-quick scheme.”
The startup’s software is used by several companies considered to be titans of the gig economy, including Uber, Lyft, and DoorDash.
Canada approves world’s first bitcoin ETF for retail investors (THE GLOBE AND MAIL)
The Ontario Securities Commission gave the green light for Purpose Investments, the asset management arm of Purpose Financial LP, to launch the Purpose Bitcoin ETF on the Toronto Stock Exchange.
With new execs and new products, Koho says it’s ready to become Canada’s leading challenger bank (BETAKIT)
In recent months, Koho has made significant changes to its executive and senior leadership team, bringing on a new CTO, CMO, CFO, and VP of people and culture.
Retail investors who followed the popular Reddit forum WallStreetBets flocked to some U.S. shares over the past few weeks, driving an unprecedented short-term rally followed by sharp falls.
Allianz X is the digital, FinTech-focused investment unit of Allianz Group, a global insurance and asset management firm. Allianz joins existing Purpose investors OMERS and TorQuest.
Mastercard to allow some cryptocurrencies in digital asset boom (BNN BLOOMBERG)
Mastercard Inc. will begin allowing cardholders to transact in certain cryptocurrencies on its network, becoming the latest company to embrace digital assets.
Fraction Technologies announces $289 million CAD in debt, equity financing as it looks to disrupt reverse mortgages (BETAKIT)
Vancouver-based startup Fraction Technologies announced $289 million CAD in a mix of equity and debt financing. The proptech financing news continued with mortgage startup Homewise securing $3 million.
India may soon have another FinTech unicorn.