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.
Nuvei filing indicates company may raise up to $1.8 billion USD in new issues, secondary offerings (BETAKIT)
The filing follows a strong first quarter earnings report and a busy few months for the Montréal FinTech company.
Fill out the BetaKit x Cisco Startup Survey
We’ve joined forces with Cisco Designed to understand the state of Canadian startups and small businesses on their path to recovery. The survey tracks the ecosystem’s response to the pandemic and priorities for growth in 2021.
Anonymized survey results will be turned into a report and published on BetaKit.com. Complete the 3-minute survey now to ensure your business is included!
European insurtech startup Wefox grabs $650 million at $3 billion valuation (TECHCRUNCH)
German startup Wefox has raised a $650 million Series C funding round led by Target Global.
Bench secures $73 million CAD, unveils new banking products (BETAKIT)
After it refocused to help small businesses in the US apply for the Paycheck Protection Program (PPP), Bench saw its sales double and re-hired previously laid off workers.
Coinbase rival Kraken launches mobile app in U.S. to capitalize on crypto surge (CNBC)
The new Kraken App allows many users across the U.S. to securely buy and sell more than 50 crypto tokens from their mobile phones.
AQC Capital secures $64 million for second tech startup investment fund (BETAKIT)
Through the fund, AQC and its backers aim to support the development of innovative Québec startups and help accelerate their international growth ambitions.
Yieldstreet raises $100M, eyes public markets (CRUNCHBASE)
The New York-based company aims to help modernize users’ portfolios to complement their stock market portfolio.
Mogo increases Coinsquare ownership stake for second time, gains ability to buy majority (BETAKIT)
Mogo first purchased an almost 20 percent stake in Coinsquare in February for $56.4 million CAD.
China has triggered a bitcoin mining exodus (WIRED)
The promise of a crackdown is sending the country’s crypterati scrambling for the exit. Meanwhile in El Salvador, President Nayib Bukele plans to introduce legislation that will make it the world’s first sovereign nation to adopt bitcoin as legal tender.
Capchase lands $125M Series A to help founders avoid dilution (CRUNCHBASE)
Capchase has now raised nearly $190 million in a mix of debt and equity, according to Crunchbase data.
Fill out the BetaKit x Cisco Startup Survey (BETAKIT)
To better understand the current state of Canadian startups and small businesses, BetaKit has joined forces with Cisco Designed to create a brief survey.
All-or-nothing investment websites used Wirecard for card payments (WALL STREET JOURNAL)
The sites, which regulators have accused of stealing from clients, collected money over Wirecard’s network.
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 scam that revealed chaos and a culture of fraud at Queen’s Park (TORONTO LIFE)
Sanjay Madan’s job was to distribute pandemic payments to Ontario families. He found an ingenious way to take millions for himself.
