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.
Learn about the opportunities for innovation in payments at the Payments 101 Meetup June 13th with Visa Developer & special guest speakers. Register now!
Flexiti Financial acquires $250 million of TD’s private label credit card portfolio
(BETAKIT)
Flexiti’s transaction is financed by $350 million in credit facilities led by Credit Suisse AG, Cayman Islands Branch, and a syndicate of mezzanine lenders.
Alibaba’s Ant Financial FinTech affiliate raises $14 billion to continue its global expansion
(TECHCRUNCH)
Ant Financial said that the money will go towards extending its global expansion (and deepening its presence in non-China markets it has already entered), developing technology, and hiring.
Shaping the new FinTech frontier (MASHABLE)
“Thanks to the emerging hybrid industry of FinTech — which blends startup agility with the robust resources of traditional banking institutions — the future of personal finance is not only high-tech, but also highly collaborative and customizable.”
Planswell raises $7 million to develop financial planning platform (BETAKIT)
Planswell also raised $6.8 million from its seed round in January 2018.
Lendix notches $37M amid European expansion(PYMNTS)
Idinvest and Allianz are leading the round, with participation from CIR SpA, Partech, CNP Assurances, Decaux Frères Investissements, and Matmut.
Digital loyalty platform Stocard raises $20 million Series B led by Macquarie Capital (FINEXTRA)
Stocard will use the funds to launch a mobile payment functionality, recruit 40 employees across engineering, sales and marketing, and expand to new markets starting with the launch of its Paris office.
Marqeta raised $45M led by Iconiq for payment card processing technology, reportedly at a $545M valuation (TECHCRUNCH)
Marqeta works with businesses for payment-card related services, including instant card-based payments and issuing their own branded credit cards.
University of Waterloo joins Ripple’s $64 million CAD blockchain research initiative
(BETAKIT)
The University of Waterloo is the only Canadian university participating in the initiative.
Adyen aims for a $1B IPO, valuing the payments startup at up to $8.3B when it lists on June 13 (TECHCRUNCH)
The Netherlands-based payments startup — which competes against the likes of PayPal and Stripe to power payment services both to online and physical retailers — said that it will be raising between approximately $1 billion and $1.1 billion.
FinTech startup Molo Finance raises £3.7M in seed funding(FINSMES)
The round was led by Ubon Partners.
Visa announces $100-Million venture fund focused on Europe and Israel (CALCALIST)
The credit card processing company also launched a fast-track program for partnerships with FinTech ventures.
Mastercard announces the launch of AI Express(PYMNTS)
To help companies that want to jump into the AI revolution — but are perhaps unsure where to actually start — the team at Mastercard is hoping to offer up a solution in the form of AI Express.