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.
QuadrigaCX owes its clients $250 million CAD that the company cannot access (BETAKIT)
Gerald Cotten, founder of QuadrigaCX, apparently filed a will 12 days before his death. New reports indicate that the money might be missing, not stuck.
Chat app Line injects $182M into its mobile payment business (TECHCRUNCH)
The company is going after the cashless opportunity in Japan, where it is the dominant chat app with an estimated 50 million registered users.
Raisin raises $114M in Series D funding (FINSMES)
Raisin, which has created a pan-European marketplace in retail banking through partnership with 62 banks, raised the funding from Index Ventures, PayPal, Ribbit Capital, and Thrive Capital.
Accenture finalizes acquisition of financial services assets from Zafin (BETAKIT)
Accenture has announced the completion of a transaction with Toronto-based Zafin, which will see select professional-services employees join Accenture as a part of an acquisition deal announced in December.
Plaid expands financial service API to include all US banks (TECHCRUNCH)
From a consumer perspective, you would select your bank from the list and the Plaid Auth tool would find the fastest connection method automatically, based on the bank’s technology.
Meridian set to launch its new digital bank, Motusbank (BETAKIT)
The digital bank is set to open this spring, and will allow Canadians to access their bank accounts, investments, and mortgages online, while offering digital customer service from real people.
CoverHound raises $58 million to simplify online insurance shopping (VENTUREBEAT)
The round was led by Hiscox, with participation from Chubb, Aflac Ventures, and Japan-based MS&AD.
Koho continues to attack traditional banking features with new joint accounts (BETAKIT)
“We want to redefine the way Canadians see banking by giving them products that fit their lives, regardless of relationship status.” – Daniel Eberhard, CEO and founder of Koho.
Bud raises $20M to connect banks to FinTechs and other financial service providers (TECHCRUNCH)
The Series A funding comes from HSBC, Goldman Sachs, ANZ, InnoCells, and other investors.
Swedish FinTech start-up Tink raises $64 million at a $270 million valuation (CNBC)
Tink offers an app for people to get a snapshot of how they’re spending across all their bank accounts.
Canadian startup, ClickDishes, partners with Chinese payment platform Alipay (BETAKIT)
Vancouver-based ClickDishes is working with Alipay, a major digital payment platform in China, to allow users to order food directly through Alipay’s app.
SoftBank leads $440 million investment in UK FinTech OakNorth, valuing it at $2.8 billion (CNBC)
The deal gives the three-year-old firm an eye-watering $2.8 billion post-money valuation, making it Europe’s most valuable private FinTech group.
