F|T: The FinTech Times – Wirecard’s “fraud of the century”

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OMERS Ventures founder John Ruffolo paralyzed following biking accident (BETAKIT)

OMERS Ventures founder John Ruffolo has been paralyzed from the waist down following a cycling accident that took place in Markham, Ontario last week.

Clearbanc, Touchbistro among 7 Canadian startups in CB Insights FinTech 250 (BETAKIT)

Seven Canadian startups have been listed on the 2020 CB Insights’ FinTech 250 list, which tracks the top private FinTech companies from around the world.

As corporate cards are subsumed into software, Airbase posts rapid growth (TECHCRUNCH)

Airbase offers corporate cards and a SaaS suite of financial tooling to support corporate accounting departments and employees alike.

Montréal payment tech company Nuvei files for IPO on TSX (BETAKIT)

Montréal-based FinTech company Nuvei has filed to go public on the Toronto Stock Exchange.

The party’s over for money-losing FinTechs as funding tap shuts (BNN BLOOMBERG)

Monzo and Revolut, two of the industry’s leaders, said losses more than doubled and tripled respectively last fiscal year.

Wealthsimple CFO stepping down to become CEO of Wealthsimple Foundation (BETAKIT)

Wealthsimple’s chief financial officer (CFO), Leen Li, is stepping down from her role and is set to become the CEO of the Wealthsimple Foundation.

Startup co-founded by ex-Goldman trader is first FinTech to complete takeover of a national bank (CNBC)

Jiko, a 23-person company co-founded by Stephane Lintner, has closed a deal to purchase Mid Central National Bank, a 63-year old retail bank based in Minnesota, according to people with knowledge of the transaction.

ProNavigator raises $5.6 million to tackle United States insurance market (BETAKIT)

Kitchener InsurTech startup ProNavigator has closed a $5.6 million CAD financing round as it eyes expanding its offering in the United States.

Bank of America dominates digital banking. Here’s how it plans to stay ahead. (AMERICAN BANKER)

The bank is making continuous improvements, including integrating Merrill Lynch accounts into its banking app and adding a security feature to Zelle.

Vena Solutions secures $25 million in financing from CIBC Innovation Banking (BETAKIT)

Financial planning startup Vena Solutions has closed $25 million CAD in growth capital financing from CIBC Innovation Banking.

Wirecard inquiry probes why Germany missed fraud of century (BLOOMBERG)

Germany’s blame game over Wirecard AG’s collapse is focusing in on the question of why authorities failed to take a harder look at the payments company before it became the country’s biggest accounting scandal in living memory.

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.

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