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.
US private equity firm Providence Strategic Growth takes majority stake in Wagepoint (BETAKIT)
Providence Strategic Growth, growth equity affiliate of US-based Providence Equity Partners, secured a majority stake in Canadian payroll startup Wagepoint.
Santander spins out its $400M FinTech venture capital arm, now called Mouro Capital (TECHCRUNCH)
Santander, the Spanish multinational banking giant, is announcing that its FinTech venture arm is to be spun out and will be managed more autonomously going forward.
Venture capitalists revive faith in B2B FinTech startups (PYMNTS)
B2B FinTech venture capital funding has been slow in recent weeks amid an environment in which investors overall are feeling hesitant.
European FinTechs are dipping their toes into Asia — but it’s not for the faint hearted (SIFTED)
Revolut announced its launch into Japan, building on an earlier expansion into Singapore. Meanwhile, other large European FinTechs have also made their way east in the last 12 months.
Toronto venture funding lags behind Canada’s record-setting Q2 2020 (BETAKIT)
Venture funding in Toronto slumped to $213 million in the second quarter of 2020, the lowest amount of funding tracked in the last 18 months.
Credit Suisse launches Switzerland’s first major digital banking rival (REUTERS)
Credit Suisse’s move makes it the first major bank to roll out a comprehensive digital package in Switzerland, with a fully digital wealth management service to be added to the app in November.
African tech startups are beating the pandemic’s odds and racking up multimillion-dollar exits (QUARTZ)
It comes as little surprise that financial technology startups are heralding a wave of top-dollar exits in African tech ecosystems.
Gaming hardware maker Razer eyes banking licenses in US, Europe (PYMNTS)
The move comes nine months after the California-based company applied for a license to open a bank in Singapore, CNBC reports.
Interac’s Debbie Gamble and futurist Amy Webb talk shifting tech trends September 17 (BETAKIT)
Interac will host futurist Amy Webb in an online event on September 17. The event is free of charge to all who wish to attend.
The effect of COVID-19 on global FinTech (FINSMES)
The slowdown in funding, drop in the establishment of new FinTech firms and reduced revenues of most of the running organizations are clear indications of this impact.