F|T: The FinTech Times – Facebook’s blockchain conflict

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.

Elevate 2-for-416 Startup Ticket

Miss the Early Bird to get your Elevate tickets? BetaKit has your hookup with the 2-for-416 Startup Ticket bundle. Startups buying a minimum of two tickets can save more than $100 per ticket! Offer ends August 19th.


BetaKit

Xero acquires Toronto’s Hubdoc for $70 million USD

Hubdoc co-founder Jamie McDonald told BetaKit it was the best deal on the table for the company, but not the only one.


techcrunch

Japan’s Freee raises $60M to grow its cloud accounting business

Freee will use the funding to build out an API ecosystem to enable more integrations.


venturebeat

David Marcus leaves Coinbase board to focus on Facebook’s blockchain project

Marcus said his decision to resign was “because of the new group I’m setting up at Facebook around blockchain.”


techcrunch

Even Financial raises $18.8 million Series A from GreatPoint Ventures, Goldman Sachs and others

The round was led by GreatPoint Ventures, with participation from Goldman Sachs, Canaan Partners, F-Prime Capital, Lerer Hippeau, and others.


bk


Report: 53 percent of customers abandon purchases when there’s payment friction

43 percent of Canadians said they are interested in invisible or non-checkout payments in store.


pymnts.com

Visa invests in Israeli startup Behalf

As part of the deal, Visa will offer Behalf’s small business clients a tokenized Visa Virtual Card, which is a credit-based payment service that gives companies instant financing for business purchases.


e27

Singapore FinTech startup Rate raises US$15M to develop its blockchain network

Rate will use the newly-raised funding to accelerate product development and fuel its expansion into new markets.


techcrunch

Crypto mining giant Bitmain on target for $10B revenue this year

Despite a slump in bitcoin prices since the beginning of the year, Bitmain is on track to become the first blockchain-focused company to achieve $10 billion in annual revenue, assuming that the cryptocurrency market doesn’t drop further.


finextra

IBM and Maersk sign up users for blockchain-based global trade platform

IBM and transport and logistics outfit AP Moller-Maersk have signed up 94 organisations to their blockchain-based cross-border supply chain programme to manage and track the paper trail of tens of millions of shipping containers across the world.


finsme

FinTech startup Clickswitch raises $3.5M in Series A financing

Clickswitch aims to simplify the switch of recurring payments and deposits for a financial institution’s new and existing account holders.


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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.