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Koho believes it can grab major market share from Canadian banks in the next 18 months.
STACK RECOMMENDS: Digital banking users to reach nearly 3 billion by 2021, representing 1 in 2 global adult population
“Consumers will drive channel demand and as traditional money services go digital, the winners in the space will serve the demand.”
– Miro Pavletic, CEO and co-founder of STACK
A recent report by Payfort and Wamda says the Middle East and North Africa could see a total of 250 FinTech startups launch by the year 2020.
The round was led by Arvato Financial Solutions, a subsidiary of Bertelsmann Group, and Japanese investor SBI Group, with participation from FinLeap and Hegus and Yabeo Capital.
The Scotiabank Cybersecurity and Risk Analytics Initiative will support UBC researchers and statistics professors to better understand the impacts of cyberattacks.
Viva Republica, which provides a peer-to-peer payments app, has closed a $48 million Series C led by PayPal and Silicon Valley firms Goodwater Capital and Bessemer Venture Partners.
A report at the end of last year by law firm, Mayer Brown, suggested that financial services firms are keen to make investments, yet they remain cautious due to strict and changing industry regulation.
Euronet has offered to buy money-transfer company MoneyGram for $15.20 per share, trumping Ant Financial’s bid.
Autobooks, an integrated payment & accounting software company, raises $5 million in venture funding
The funding was led by Draper Triangle Ventures, with participation from strategic investor Michigan Credit Union League.
Users will now be able to pay for their insurance and property taxes by using the new Paytm Canada app.
As the FinTech industry continues to mature, new segments like cloud and core processing solutions, smarter machines, and shifting customer preferences, are taking the lead when it comes to growth.
MBank says the fund will seek startups offering services that could be nurtured through an accelerator and initially implemented by the bank for its five million customers in Poland.
The Office of the Comptroller of the Currency will open its doors to US FinTech firms that are willing to meet some of the rigors of regulated banking, including capital, liquidity, and consumer-protection rules.
While applications are being accepted from all FinTech startups, the content and opportunities during the 12-week accelerator will especially benefit companies developing tech for payments, electronic Know Your Customer (eKYC), machine learning, and AI.
The company’s POS solution was recognized as having the greatest potential to impact the future of consumer lending.
During a panel discussion at the SXSW conference, entrepreneurs in financial services companies argued they’re helping create a new middle class in the developing world, with tremendous consequences for the global economy.
FinTech startup Canopy raises $20 million during Series B funding round led by Pelion Venture Partners
New Enterprise Associates, Epic Ventures, and Deep Fork Capital also participated in the round. Canopy, which provides the software tax professionals use to streamline their work, will use the funding to accelerate growth and build additional products.
Wealthsimple’s Mike Katchen says Canadian entrepreneurs need more “naive ambition” to find global success
At TechTO’s recent Best Of TechTO event, Katchen gave tips on how businesses can think big in Canada.