F|T: The FinTech Times – The new hotness

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.


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BetaKit

Some banks begin rollout of EDC loan guarantee for Canadian businesses

Scotiabank and National Bank have made available the EDC loan guarantee program, signalling that Canada’s big banks are starting to roll out the program.


RECOMMENDED BY SAGE INTACCT:

Your accounting and finance system may be slowing you down

Billing used to be easy. Products were billed once when they were sold or delivered. Now software companies have a blend of products—subscriptions, usage billing, services, training, and perpetual licenses. Some of it is billed once, and some of it is billed every month.

Many accounting systems weren’t built to handle this complexity, and can’t be easily integrated with Salesforce to automate your quote to cash process. Learn the clear five signs you’re outgrowing your accounting and finance system.


TechCrunch

Financial tech startup Previse raises $11M to help suppliers get paid faster

Founded in 2016, Previse says it currently processes about 100,000 invoices a day, and its goal is to handle payments for five million suppliers within the next five years.


BetaKit

Atomic Loans raises $3.4 million CAD as it looks to bring decentralized finance to bitcoin market

Toronto-based Atomic Loans, which is creating a platform that facilitates peer-to-peer bitcoin lending, has raised $3.4 million CAD in seed funding.


Trade Republic raises €62M in Series B funding

The company intends to use the funds to expand operations, expand across Europe, and further the development of its platform for mobile saving, investing, and trading.


BetaKit

Clearbanc tightens belt following new cashflow product for COVID-impacted companies

Revenue share investor Clearbanc launched a new product to support entrepreneurs facing a financial crunch due to COVID-19 while also laying off 17 employees.


A list of FinTech firms providing free technology during the coronavirus crisis

To help banks help their customers through these trying times, many FinTech providers are extending free, discounted, or accelerated deployment offers to financial institutions.


BetaKit

SR&ED payments beginning to flow to Canadian tech following delay caused by COVID-19

The CRA is beginning to release funds from the SR&ED tax incentive program and is expediting the processing after a delay caused by COVID-19.


Saving, not spending, is the new hotness in FinTech

Robinhood’s revenue has reached real scale, and, like other savings and investing-focused financial applications, it’s enjoying a boom in demand.


BetaKit

Feds expand eligibility criteria for small business loan program, introduce rent assistance program

The key change to the CEBA, announced Thursday morning, is an expanded for total payroll criteria.


5 ways COVID-19 is impacting FinTech startups

What are the implications for startups and for FinTech startups in particular? Only couple of weeks ago these startups were living one of their best years for some time.


BetaKit

Here are the final details on the Canada Emergency Wage Subsidy

After passing the 75 percent wage subsidy Canadian government shared additional details. Here is a breakdown of the program, who’s eligible, and how to apply.


Stripe raises $600 million as COVID-19 gives FinTech a boost

U.S. FinTech startup Stripe Inc said on Thursday it raised $600 million, as companies that provide the online infrastructure for financial and payment services get a boost from the coronavirus pandemic.


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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.