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Wealthsimple raises $100 million led by Allianz X to build a full stack financial service(BETAKIT)
Toronto-based Wealthsimple has secured a new $100 million investment round, led by Allianz X, the digital investment unit of German asset manager Allianz Group.
Online bank Simple makes things harder by removing bill pay(TECHCRUNCH)
The company claimed the feature was under-utilized and usage was trending downwards, which is why it decided to sunset the option to pay bills through its app.
Circle sheds 10% of workforce as CEO blames restrictive US regulatory climate(COINTELEGRAPH)
The CEO of Goldman Sachs-backed crypto finance startup Circle blamed a hostile regulatory climate in the United States as he confirmed layoffs of 30 staff on social media May 21.
Peter Thiel-backed crypto startup pays out 6,567% return(BLOOMBERG)
After raising $4 billion in a record token sale, Block.one gives some back to shareholders.
Loot, the UK digital current account for students and millennials, enters administration after a potential sale falls through(TECHCRUNCH)
According to sources, the U.K. FinTech was unable to raise additional funding in time after a potential sale to banking giant RBS fell through.
FinTech startup Zero raises $20 million to offer consumers a reward credit card that acts like a debit card(TECHSTARTUPS)
The round, which was led by New Enterprise Associates (NEA), SignalFire, Eniac Ventures, Nyca Partners, and Silicon Valley Bank, brings its total equity and debt funding to date to $35 million.
London-based social impact FinTech startup Wagestream raises €46 million for its service to end payday poverty(EUSTARTUPS)
Wagestream is on a mission to end in-work poverty, eradicate payday loans, and destroy the ‘Poverty Premium’, whereby people on low incomes pay more for a range of essential products and services such as insurance, energy, and credit.
Raisin rides into the US with its savings and investment marketplace(TECHCRUNCH)
Raisin, the pan-European fintech marketplace for savings and investment products, is headed to the U.S., announcing plans to roll out a similar offering across the pond.