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NewOak partners with LendingArch to purchase $2 billion in loans(BETAKIT)
With NewOak purchasing from LendingArch, the loans will be removed from LendingArch’s books, freeing them to provide more flexible loans to Canadians.
STACK RECOMMENDS: ‘I feel duped’: Why bank employees with impressive but misleading titles could cost you big time(CBC)
“It’s time we all took a hard look at where we get our financial advance from.”
– Miro Pavletic, CEO and co-founder of STACK
Big banks poised to scoop up FinTech startups, report finds(BLOOMBERG)
Almost 50 percent of financial services firms around the world plan to acquire FinTech startups in three to five years, according to a new Global FinTech Report by PwC.
Trov adds $45 million for the global expansion of its on-demand insurance(TECHCRUNCH)
The company, which provides on-demand insurance for individual items, raised the round from Munich Re HSB Ventures.
ISO rolls out new standards for mobile banking(FINEXTRA)
The new set of specifications for mobile banking aims to promote financial inclusion.
Financeit and Concentra renew $100 million funding facility(BETAKIT)
The renewal comes nearly a year after the two companies first announced a $100 million funding facility.
Sweden, UNEP and FinTechs collaborate for sustainable finance(FINEXTRA)
The Stockholm FinTech Hub is supporting Sweden and the United Nations Environment Programme to pilot the UN’s 2030 vision for sustainable finance.
BNP Paribas acquires Compte Nickel(TECHCRUNCH)
While Compte Nickel wanted to revolutionize retail banks, the startup got acquired before it could become a serious contender on the French market.
Stripe of Turkey Iyzico completes $15M VC round of funding(PYMNTS)
The startup, which enables ecommerce sites and other apps to accept online payments, raised the funds from Vostok Emerging Finance, with participation from previous investors.
The banker, the venture capitalist and eight others changing the way we think, work and play(FINANCIAL POST)
The Financial Post Magazine highlights a group of Canadians who are knowingly changing the way the industries and societies work. Among them are key FinTech players.
London-based FinTech firm Meniga raises €7.5m in latest round(SILICON REPUBLIC)
Nordic VC Industrifonden led the round, which also included current investors Velocity Capital, Frumtak Ventures, and Kjölfesta.
Wattpad, Wealthsimple, and Overbond join the Upside Foundation(BETAKIT)
Canadian startups who make the pledge will donate a small portion of their equity to The Upside Foundation (typically in the form of stock options), which are converted to cash upon a liquidity event and donated to the charity of the company’s choosing.
Money transfer startup Azimo now lets you send money to a phone number(TECHCRUNCH)
Specifically, Azimo’s new functionality enables users to request, send, and receive cash internationally using a mobile phone number.
Battle for IP ownership challenges FinTech collaboration(FINEXTRA)
Banks and asset managers are being hampered in their efforts to work with FinTech firms by the desire to own intellectual property, according to research from law firm Simmons & Simmons.
Street Contxt raises fresh round with Portag3, brings total funding to $15M USD(BETAKIT)
The round was led by existing investor Joe Lonsdale of 8VC and Point72 Ventures, the early-stage venture capital strategy of Point72 Asset Management. The round also included New York-based Palm Drive Capital and Portag3 Ventures.
TradeShift partners with CreditEase on trade financing app(FINEXTRA)
CreditEase, a peer-to-peer lender in China, can now deliver accounts receivables financing to millions of fast-growing small and medium enterprise via a trade-financing app.