F|T: The FinTech Times – Open banking recovery

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.


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Halal FinTech startup Manzil launches private placement offering on FrontFundr (BETAKIT)

Manzil was created to help Canadian Muslims balance their financial needs with their ethical and spiritual obligations.


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Idinvest shares some trends on European consumer tech (TECHCRUNCH)

The team has analyzed and surveyed 1,500 companies over multiple months. And Idinvest has identified rising stars in multiple different verticals, such as fintech, mobility, healthcare or travel.


Alibaba launches credit for SMBs buyers on its platform (PYMNTS)

Alibaba.com is rolling out a new program that aims to make it easier for small- and medium-sized businesses (SMBs) to enter the world of global trading.


Nesto raises $11.5 million Series A round as it looks to “simplify” the mortgage industry (BETAKIT)

Nesto, a startup focused on simplifying the mortgage financing experience, raised $11.5 million CAD in Series A financing.


Varo Money raises $241 million as it moves closer to becoming a national digital bank (FORBES)

Varo Money, the mobile banking startup, raised $241 million in venture funding with proceeds going to meet the capital requirements necessary to operate a national bank, develop new products, and otherwise support growth.


Open banking would help the recovery (FINANCIAL POST)

Portag3 Ventures CEO Adam Felesky says open banking infrastructure and data are helping governments around the world better respond to the COVID-19 crisis.


Canadian startup Boss Insights helping American small businesses navigate PPP loans (BETAKIT)

Boss Insights has repurposed its existing software to launch a new platform that helps lenders and borrowers navigate a US loan program.

Digital wallets will soon replace physical wallets, secure all credentials on blockchain: startup founder (THE SOCIABLE)

“In the future, this is how the world will look. Everything in my [physical] wallet now will be in my digital wallet on my mobile phone that I will carry around wherever I go,” added Hall.


New York startup Hyperscience raises $60 million in bid to become automation software’s next breakout (FORBES)

The company announced on Thursday that it raised $60 million in a Series C funding round led by Bessemer Venture Partners. Hyperscience didn’t disclose its valuation, but the investment likely values the startup at more than $250 million.


Stackin’ raises $12.6M Series B to help millennials navigate the crowded FinTech space (TECHCRUNCH)

FinTech’s funding boom for the past decade has led to a flurry of new consumer startups tackling a wide range of money-related issues, from saving apps to investing platforms.


Ten members added to federal government’s Industry Strategy Council (BETAKIT)

The federal government has announced new members of its Industry Strategy Council, the initiative aimed to help with Canada’s economic recovery from COVID-19.


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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.