F|T: The FinTech Times – Facebook FinTech?

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.


BROUGHT TO YOU BY THE CONFERENCE BOARD OF CANADA:


Out-collaborate your competition: The growth formula for FinTechs (BETAKIT)

Marcus Daniels, CEO and Founding Partner at Highline Beta, argues that multinational corporations need to rethink their business models in the wake of COVID-19.


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Vitesse, a FinTech providing real-time cross-border payments for businesses, scores £6.6M Series A (TECHCRUNCH)

The company says the new investment will be used for growth, including building out its sales and marketing functions, and expanding Vitesse’s footprint in the U.S. market.


Revolut, Europe’s $5.5 billion digital bank, says losses tripled in 2019 (CNBC)

The London-based FinTech startup blamed the mounting losses on its investment in international expansion and new product offerings.


Halifax startup Groundhog lawsuit alleges US-based ConsenSys stole code to create rival product (BETAKIT)

Halifax-based crypto startup Groundhog has filed a complaint against New York-based Ethereum company ConsenSys.


Facebook goes all-in on FinTech with launch of new product group (COINTELEGRAPH)

Facebook is determined not to take “no” for an answer when it comes to FinTech.


German market watchdog let staff trade in Wirecard shares (WALL STREET JOURNAL)

Germany’s stock-market regulator allowed its staff to trade Wirecard AG shares while it was investigating the company, putting the spotlight again on an agency that has come under scrutiny for ignoring red flags about the now insolvent FinTech giant for a decade.


FinTech funding falls as COVID-19 hits home (FINEXTRA)

As the COVID-19 fallout hit home, FinTech funding saw its third straight quarterly decline in Q2, according to data from Forrester.


CFIB leads petition urging federal government to make changes to CEBA, CECRA, CEWS, CERB (BETAKIT)

A new petition launched by the CFIB is urging the federal government to enact specific changes to four COVID-19 aid programs.


Founded in Seattle, FinTech startup Routable raises $12M to streamline business payments (GEEKWIRE)

Routable, a FinTech startup with Seattle roots, came out of stealth mode and announced a $12 million Series A funding round.


The newest FinTech unicorn is a credit card, and it’s betting against big banks (CNBC)

Two demographics inspired FinTech startup cred.ai to create its Unicorn Card: banking newcomers and millennial/Gen Z Americans with weak credit histories who are distrustful of the financial system.


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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.