F|T: The FinTech Times – Products of a different Stripe

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.

Stripe to open Canadian office in Toronto, announces new products (BETAKIT)

In June, Shopify joined Capital Group, Sequoia Capital, Silver Lake, and others in investing $1 billion USD ($1.2 billion CAD) in Stripe.

Cybersecurity insurer Coalition gets new funding at $3.5 billion valuation (WALL STREET JOURNAL)

T. Rowe Price Associates, Whale Rock Capital and Durable Capital Partners lead the $205 million investment.

Former innovation minister Navdeep Bains joins CIBC as vice-chair of global investment banking (BETAKIT)

Bains first revealed that he did not plan to seek reelection in January of this year.

Ant-backed Ascend Money becomes Thailand’s first FinTech unicorn (BNN BLOOMBERG)

The company will use the fresh capital to improve its mobile payments app TrueMoney Wallet as well as expand digital financial services across Southeast Asia.

Square brings card for businesses to Canada (BETAKIT)

With the move, Square joins a business card ecosystem populated by tech companies like Shopify, Wave, Float, and Caary.

Aspire raises $158M Series B to build a full-stack “financial operating system” for Southeast Asian businesses (TECHCRUNCH)

More than 10,000 business accounts have been opened on Aspire, and in total they transact about $2 billion annually, doubling in five months from May.

With new platform update Flinks claims open banking is already in Canada (BETAKIT)

The update arrives after both the Liberals, and the Conservatives pledged to introduce open banking during the election campaign.

Google is scrapping its plan to offer bank accounts to users (WALL STREET JOURNAL)

Google is abandoning plans to pitch bank accounts to its users, marking a retreat from an effort to make the tech giant a bigger name in finance.

Interac acquires SecureKey’s Canadian contracts to fuel digital ID services (BETAKIT)

In March, Payments Canada selected Interac as its second solution provider for Canada’s upcoming real-time payments system which is expected to launch in 2022.

Alloy raises $100M at a $1.35B valuation to help banks and FinTechs fight fraud with its API-based platform (TECHCRUNCH)

Lightspeed Venture Partners led the Series C round, which comes just over one year after New York-based Alloy raised $40 million in a Series B financing.

Vancouver-based Dapper Labs raises $250 million USD, partners with Spain’s LaLiga (BETAKIT)

In March, Dapper Labs raised $305 million USD ($388.2 million) in financing to expand to other sports.

Ethereum had a rough September. Here’s why and how it’s being fixed (CNBC)

The ethereum blockchain has suffered a series of setbacks of late, including an unexpected split because of a bug.

RBCx launches venture debt product as market for financing heats up in Canada (BETAKIT)

Based in Toronto, RBCx is a newly-constructed innovation banking group that oversees the delivery of all banking products and services to tech and innovation companies for RBC.

Revolut leadership under pressure from staff to address stark pay gap (SIFTED)

Staff at the FinTech are pushing for management to take action on its gender pay gap findings.

Josh Scott

Josh Scott

Josh Scott is a BetaKit reporter focused on telling in-depth Canadian tech stories and breaking news. His coverage is more complete than his moustache.

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