F|T: The FinTech Times – Wealthsimple’s global ambitions

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.


Clearco secures $268 million CAD in round led by SoftBank (BETAKIT)

The round, which comes mere months after Clearco raised $125 million CAD of equity financing, accelerates the company’s international expansion plans and overall roadmap by at least one year.


Wise goes public in £8bn London direct listing (FINANCIAL NEWS)

FinTech firm Wise has begun trading on the London Stock Exchange at £8 per share, valuing the company at £8bn.


Michelle McBane on shrinking the gender investing gap in VC (BETAKIT)

On the #CIBCInnovationEconomy Podcast, Michelle McBane talked about the gender investing gap in VC, and what it means for women founders in Canada.


Ex-NYSE President Tom Farley’s SPAC to merge with Bullish to bring planned crypto exchange public (CNBC)

Farley’s Far Peak Acquisition Corp. SPAC was up more than 2% in late-morning trading on the news.


Non-committal on a banking license, Wealthsimple CEO Michael Katchen says company’s ambitions extend “beyond Canada” (BETAKIT)

The company announced a $5 billion CAD valuation in May, following a $750 million round featuring $250 million in primary capital.


Fidelity, BlackRock lead FinTech startup’s $600 million funding (BNN BLOOMBERG)

Pine Labs Pvt, a payments platform for merchants in India and Southeast Asia, closed a $600 million fundraising round with some of the world’s largest investors.


Hackers run startups now, too: what businesses need to know (BETAKIT)

Microsoft Canada Chief Security Officer Kevin Magee says startup leaders need to be more vigilant than ever in their security approach.


European challenger bank Bunq raises $228 million at $1.9 billion valuation (TECHCRUNCH)

Bunq founder Ali Niknam is also participating in the round — he’s investing $29.5 million (€25 million) while Pollen Street Capital is financing the rest of the round.


Tetra Trust to become Canada’s first qualified crypto custodian, raises funding from Coinbase, Mogo (BETAKIT)

Tetra investor Coinbase Ventures is the venture capital arm of American crypto trading giant Coinbase.


Pleo raises $150M at a $1.7B valuation for its new approach to managing expenses for SMBs (TECHCRUNCH)

The Copenhagen-based startup has raised $150 million — money that it will be using to continue building out more features for its users, and for business development.


BBTV CEO Shahrzad Rafati on why ethical business decisions are good business decisions (BETAKIT)

Shahrzad Rafati explains how operating ethically is a smart financial decision, and shares how other founders can create broader impact through business.


Binance booms as crypto trading unfolds beyond nations’ reach (BNN BLOOMBERG)

It pays its people in a digital token of its own devising. It’s based wherever its founder happens to be. A growing list of countries want no part of it. And Binance Holdings Ltd. might just be the biggest, craziest thing in the big, crazy realm of cryptocurrencies.


Eli Fathi retiring as MindBridge CEO (BETAKIT)

Fathi publicly announced his intentions this week, after informing MindBridge’s board of directors earlier this year.


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Josh Scott

Josh Scott

Josh Scott is a BetaKit staff writer who loves to tell Canadian business and tech stories. His coverage is more complete than his moustache.