F|T: The FinTech Times – Canada’s new open banking org

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.

Diagram-backed Wingocard closes $2 million to bring mobile banking to teens (BETAKIT)

Wingocard, a new Montreal-based startup focused on personal finance for teens, has closed a $2 million seed round led by Diagram Ventures.

ComplyAdvantage nabs $50M for an AI platform and database to detect and stop financial crime (TECHCRUNCH)

Specifically, the plan will be to use the funding for hiring, to invest in the tools it uses to detect entities and map the relationships between them and to bring on more clients.

Varo awarded FinTech national charter (PYMNTS)

On Friday (July 31), the Office of the Comptroller of the Currency (OCC) announced Varo Bank has been granted its full-service national bank charter.

Mogo officially launches carbon offsetting digital spending account, MogoSpend (BETAKIT)

Vancouver FinTech startup Mogo launches MogoSpend, a free, new prepaid Visa digital spending account that encourages sustainable spending and carbon offsetting.

ZenBusiness buys Joust, challenger bank for freelancers (AMERICAN BANKER)

ZenBusiness, which provides services to small businesses, will now offer banking along with tax, accounting and insurance help.

Affirm prepares IPO that could value FinTech firm at up to $10 billion (WALL STREET JOURNAL)

Affirm Inc. is laying the groundwork for an initial public offering that could value the financial-technology startup at as much as $10 billion, according to people familiar with the matter.

Two years after acquisition of Hubdoc, Xero names Toronto as North American tech hub (BETAKIT)

New Zealand-domiciled Xero has named its Toronto office as the company’s North American hub for product development and technology innovation.

Apple buys startup to turn iPhones into payment terminals (BLOOMBERG)

Apple Inc. has acquired Mobeewave Inc., a startup with technology that could transform iPhones into mobile payment terminals, according to people familiar with the matter.

FinTech startup Remitly raises $85M (CRUNCHBASE)

FinTech startup Remitly has raised $85 million in a new round of funding, bumping its valuation up to $1.5 billion.

Financial Data Exchange launches in Canada looking to create industry standard for financial data sharing (BETAKIT)

Financial Data Exchange, a non-profit organization dedicated to developing an industry standard for financial data sharing, has officially launched in Canada.

Caitlin Hotchkiss

Caitlin Hotchkiss

Content coordinator, social media smartypants, wordsmith, Human Workflow™. Exists primarily on coffee, cat pictures, German dance metal, and pro wrestling. I will fight for your right to the Oxford comma.

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