F|T: The FinTech Times – Simple makes things harder

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.


Wealthsimple raises $100 million led by Allianz X to build a full stack financial service

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.



TechCrunch

Online bank Simple makes things harder by removing bill pay

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.


Coin Telegraph

Circle sheds 10% of workforce as CEO blames restrictive US regulatory climate

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.


Bloomberg

Peter Thiel-backed crypto startup pays out 6,567% return

After raising $4 billion in a record token sale, Block.one gives some back to shareholders.


TechCrunch

Loot, the UK digital current account for students and millennials, enters administration after a potential sale falls through

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.


TechStartups

FinTech startup Zero raises $20 million to offer consumers a reward credit card that acts like a debit card

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.


EU Startups

London-based social impact FinTech startup Wagestream raises €46 million for its service to end payday poverty

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.


TechCrunch

Raisin rides into the US with its savings and investment marketplace

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.


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Caitlin Hotchkiss

Caitlin Hotchkiss

Content coordinator, social media smartypants, wordsmith, Human Workflow™. Exists primarily on coffee, cat pictures, German dance metal, and pro wrestling. I will fight for your right to the Oxford comma.