F|T: The FinTech Times – eBay is ditching PayPal

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.


BetaKit

Drop closes $25.8 million Series A, repatriates former Airbnb exec

Drop used its hefty Series A to bring Canadian Valley talent back home, as the company looks to dominate millennial loyalty.


techcrunch

Alibaba is picking up 33% of Ant Financial, its FinTech affiliate that’s valued at over $60B

The deal, which both parties said stems from an agreement made in 2014, will see Alibaba pick up newly issued shares in Ant, seemingly paving the way for a public listing.


betakit

OneEleven launches insurtech growth program with Aviva Canada

The four-month program is open to six companies.


zdnet

eBay takes control over online payments by ditching PayPal

Dutch FinTech Adyen will become eBay’s primary payments processor as the online marketplace looks to move its payments intermediary service in-house.


techcrunch

U.S. banks’ Venmo alternative, Zelle, moved $75B last year, says 100,000 people enroll daily

The company also painted a picture of growing traction, noting it processed over 247 million payments in 2017, an increase of over 45 percent year-over-year, totalling $75 billion in peer-to-peer payments.


finextra

Singapore’s SpherePay completes $10 million funding round

SpherePay, a mobile payment app, has not disclosed the names of investors.


betakit

Bench raises $23 million to expand its accounting automation features

The funding was led by iNovia Capital.


Torontostar

Kodak’s move toward cryptocurrency raises uneasy questions

Industry experts are calling the move a last-ditch effort to make money, while the CEO says the company’s blockchain ambitions will solve a real problem.


betakit

Ethereum Capital wants to raise $50 million to invest in Ethereum-based companies

Ethereum Capital will acquire Ether and make strategic acquisitions of controlling stakes in Ethereum-based businesses.


cityam

FinTech startup Coconut launches a current account for self-employed, freelancers and consultants

Coconut’s app-based current account features automated tax management and expense tools, giving customers visibility into how much tax they owe with a real-time estimate.


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Amira Zubairi

Amira Zubairi

Amira Zubairi is a staff writer and content creator at BetaKit with a strong interest in Canadian startup, business, and legal tech news. In her free time, Amira indulges in baking desserts, working out, and watching legal shows.