F|T: The FinTech Times – The small business drop-off

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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.


BetaKit

Survey finds Canadian small businesses seeing 50 percent revenue decline amid COVID-19

A survey conducted by Toronto-based FinTech startup Lending Loop has found that Canadian small businesses have seen an average revenue decline of more than 63 percent.


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TechCrunch

Business banking FinTech Penta raises another €18.5M

Penta, the Berlin-based business banking challenger that also now operates in Italy, has raised €18.5 million, described as the first closing of a new funding round.


BetaKit

Here’s how #CDNtech companies are pitching in during COVID-19

Canadian businesses are taking steps to help flatten the curve and support customers through new products, services, and free offerings.


Gold-backed lending startup Rupeek raises $60m from GGV Capital, others

Founded in 2015, the FinTech startup enables local big banks to offer gold-backed loan products by collecting and depositing the precious metal at the nearest branch of the partner banks that offered the loan.


BetaKit

Holt Fintech Accelerator taps Elisabeth Laett as managing partner as it explores areas for growth

Holt Fintech Accelerator has appointed Elisabeth Laett, a former Holt advisor, as the accelerator’s new managing partner.


FinTech startup Fintso raises $2.6M in maiden round

Fintso, a deep-tech based PaaS (Platform-as-a-Service) startup, was founded by wealth management industry veterans George Mitra and Rajan Pathak.


Ex-Nasdaq strategist’s crypto hedge fund to raise $100 million

The fund invests in firms that launched digital assets and in need of “next stage capital.”


BetaKit

Trulioo co-founder Stephen Ufford out as CEO, with Steve Munford set to take over

Stephen Ufford, co-founder and CEO of global identity verification startup Trulioo, is stepping down, with Steve Munford taking on the position.


FinTech app says coronavirus has caused 30% drop in hours worked

New data from Earnin, a personal finance app with millions of users that helps people access their already-earned wages immediately after they leave work each day, gives an early indication into the economic impact of the pandemic.


FinTech company Finastra hit by ransomware

The UK company said it discovered the intrusion into its systems after staff detected what they described as “potentially anomalous activity.”


BetaKit

Challenger bank NorthOne raises $29.3 million CAD Series A

NorthOne, a Toronto-based challenger bank that offers banking for small businesses and startups, has raised a $29.3 million CAD Series A.


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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.