F|T: The FinTech Times – Imploding bets

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.


Clearbanc rebrands, raises $350 million USD to provide full-stack founder support (BETAKIT)

“We started to realize that the capital and funding is one part of a relationship that we can have.”


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Mastercard is acquiring identity verification company Ekata for $850M (TECHCRUNCH)

As online identity management grows in importance, Mastercard swooped in and bought identity verification company Ekata for $850 million.


Exclusive: Brazil’s Nubank readies U.S. stock market listing – sources (YAHOO! FINANCE)

Nubank was valued at around $25 billion in a January private fundraising round, more than doubling its valuation.


Revolut CEO Nikolay Storonsky says company will return to Canada in 2022 (BETAKIT)

Although the company left the Canadian market in March, Revolut now aims to roll out the full version of its app in Canada in 2022.


Razorpay raises $160 million at $3 billion valuation, plans for more acquisitions (BUSINESS INSIDER)

Razorpay has raised $160 million in a series E round of funding led by existing investors Sequoia Capital and Singapore’s sovereign wealth fund GIC.


Subscription billing platform Chargebee becomes unicorn after $125M Series G (CRUNCHBASE)

Chargebee, a subscription billing and revenue management platform, is valued $1.4 billion following a $125 million Series G.


Affirm seeks to go beyond buy now pay later with its Returnly acquisition (MODERN RETAIL)

Buy now, pay later startup Affirm is looking to acquisitions to gain an edge over its competitors.


Exclusive: Lunar Bank set to acquire veteran fintech, Lendify (SIFTED)

Lendify has been bought out, reportedly weighed down by the cost of being a non-bank lender and the departure of its founders.


Behind bitcoin’s recent slide: imploding bets and forced liquidations (WALL STREET JOURNAL)

Bitcoin’s rally appears to be running out of steam, at least for now. There was also a second crypto collapse in Turkey, prompting the country’s financial crimes watchdog to open a probe.


Facebook-backed Diem aims to launch digital currency pilot later this year (CNBC)

Formerly known as Libra, the Facebook-backed digital currency project faced strong opposition from regulators and lost several key backers and executives. This news comes as Venmo also said it has started allowing users to buy, hold and sell cryptocurrencies on its app.


How payment processor Stripe became Silicon Valley’s hottest startup (WALL STREET JOURNAL)

Stripe has turned a humdrum business — helping companies accept credit-card payments — into a blockbuster valuation.


Despite small decline in deals, Waterloo Region remained a healthy startup ecosystem in 2020 (BETAKIT)

Waterloo Region startups raised $689.6 million for all of 2020 — up 107 percent over 2019. An additional report from Hockeystick also indicated a potential investing gap for BC’s early-stage startups.


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Josh Scott

Josh Scott

Josh Scott is a BetaKit staff writer who loves to tell Canadian business and tech stories. His coverage is more complete than his moustache.