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.
Ledn raises $36.1 million CAD Series A (BETAKIT)
Ledn claims to have seen significant growth since its $3.4 million seed round, which closed at the beginning of this year.
The pandemic effect: IPOs the new path for Canadian tech firms
The Canadian tech ecosystem is thriving in Canada. COVID-19, or the “pandemic effect” has resulted in emerging tech companies in Canada eyeing the public market more than ever for growth. This has led to a tech IPO boom early in 2021, with likely more to come.
Coinbase crypto partner Circle raises $440 million from Fidelity and others (FORTUNE)
Last year, it received a cash injection of $25 million from Digital Currency Group, after raising $110 million in funding at a nearly $3 billion valuation in 2018.
Klarna is raising from SoftBank above a $40 billion valuation (BUSINESS INSIDER)
Europe’s most valuable startup, Klarna, is raising fresh cash from mega-investor SoftBank at a valuation above $40 billion – just as Klarna faces a serious data breach.
White Star Capital closes $50 million USD fund focused on crypto and blockchain (BETAKIT)
Speaking with BetaKit, Sep Alavi, general partner at White Star Capital, said the firm launched the fund to help bring a level of institutionalization to the crypto and blockchain sector.
The $18 billion Gojek-Tokopedia merger sets the stage for a FinTech showdown (REST OF WORLD)
GoTo will look like a super app — but act like a financial service juggernaut.
Mogo, Unbounce making acquisitions amid planned expansions (BETAKIT)
Mogo has been actively expanding its product suite as well as its ownership stake in other Canadian companies as of late. The company doubled its stake in Toronto-based cryptocurrency startup Coinsquare, two months after introducing a crypto-based solution of its own.
Why startups are easier targets for cybercrime (and what founders can do about it) (BETAKIT)
Microsoft Canada CSO Kevin Magee explains how startup leaders can prioritize security without impacting growth potential.
UK’s Paysend raises $125M at a $700M+ valuation to expand its all-in-one payments platform (TECHCRUNCH)
Millar said Paysend is not disclosing valuation today but described it as a “substantial kick-up” and “a great step forward in our position ahead toward unicorn status.”
BuyProperly raises $2 million to expand real estate investment platform across Canada, US (BETAKIT)
The startup plans to use the fresh funding to strengthen its artificial intelligence (AI)-powered property identification model and expand by adding new properties across Canada and the US.
SEC files lawsuit against alleged promoters of crypto Ponzi scheme BitConnect (THE BLOCK CRYPTO)
The regulator contends the platform’s “lending program” constituted a $2 billion unregistered securities offering since the firm wasn’t a registered broker-dealer.
Venmo will now let you hide your friend list because we found Biden’s account (BUZZFEED NEWS)
Venmo, the mobile payments app owned by PayPal, is changing its privacy settings after a BuzzFeed News story uncovered President Joe Biden’s account earlier this month.