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Foxquilt raises $1.2 million to help people save on insurance by buying in groups
(BETAKIT)
The company was co-founded by CEO Mark Morissette and Karim Jamal, both formerly with Real Matters and Aviva Canada.
Zafin Recommends: 9 Ways Banking Providers Can Accelerate Innovation (THE FINANCIAL BRAND)
To ramp up their innovation programs, banks and credit unions have to address their core DNA. But a little “genetic re-engineering” can yield some big results.
Penta, the German challenger bank account for SMEs, raises €7M Series A (TECH CRUNCH)
The funding was led by Inception Capital, with total funding now at €10 million.
Lendesk launches lender network with Scotiabank, First National Financial (BETAKIT)
Through the platform, licensed mortgage broker firms and agents can securely pull credit from both Equifax and TransUnion.
Cobo raises $13M in Series A funding (FINSMES)
Cobo is a developer of consumer blockchain products that aims to make it easy for anyone to own and use cryptocurrencies.
Square launches Terminal, an all-in-one device for card and mobile payments
(THE VERGE)
Square Terminal is a portable all-in-one device that can process payments over Wi-Fi and print out receipts, signifying the company’s focus on expanding its services to more types of sellers and buyers.
European late-stage FinTech startups get a boost with new Corviglia fund
(TECH CRUNCH)
The Corviglia Capital Fund has secured $250 million and is long-term investor in late-stage fintech companies. It will make minority investments with tickets ranging from $10M to $50M.
American Express and PayPal partner for loyalty spending and P2P transfers (FINEXTRA)
The companies will work closely on a host of solutions for joint customers to include the use of Membership Rewards points for PayPal purchases and an integrated peer-to-peer payment experience.
Microsoft rolls out Spend, an expense tracker for iOS (ZDNET)
Microsoft is testing a preview of a new expense-tracking application for iOS devices. It’s called Spend and was developed by the folks who created the MileIQ mileage tracker.
Stripe hires Niels Provos away from Google to be its new head of security
(TECH CRUNCH)
Provos is the latest hire in a series of moves to beef up security talent at Stripe, at a time when security breaches are at an all-time high, with the financial services industry the largest target of that rise.
Dubai investment firm plans $100M FinTech fund (FINEXTRA)
Alcazar Capital Limited is teaming up with Fintech Consortium’s investment arm, InQvest Partners, to launch a $100 million global FinTech fund.