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Providence Strategic Growth, growth equity affiliate of US-based Providence Equity Partners, secured a majority stake in Canadian payroll startup Wagepoint.
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.
B2B FinTech venture capital funding has been slow in recent weeks amid an environment in which investors overall are feeling hesitant.
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.
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’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.
The move comes nine months after the California-based company applied for a license to open a bank in Singapore, CNBC reports.
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.