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Every Company Is Literally Becoming a Fintech Company

Hello and welcome to your weekly digest about financial technology. If you’re returning from last wee
Issue #59  •  May 25  •  View online  •  Suggest a link
Sharing with you relevant and exciting utilization of a number of innovative technologies, be it disruptive or sustaining to the existing financial services industry.
Hello and welcome to your weekly digest about financial technology. If you’re returning from last week, thanks! If you’re new, it’s very nice to have you! Share the love and tell your fellow fintech enthusiast friends to sign up here.
Many announcements in the past week of companies going remote - Coinbase, Twitter, Facebook, Square, Shopify (which is as well the last company to move into the fintech space) - and this appears to be just the beginning. What do you think about that? What are your company’s plans? 
This Week in Fintech
Shopify unveils Balance debit card, Shop Pay Installments, Local Delivery product, and fulfillment network accepting merchant applications.

Three recent stories regarding Google signal that it–like Amazon–is on its way to becoming a technology vendor for banks.   •   Share

Funding, Merger & Acquisitions
When former Bill Clinton speechwriter and political wunderkind Andrei Cherny launched Aspiration four years ago, the upstart fintech startup was one of Los Angeles’ early entrants into a financial services market dominated by players from Europe and the financial capital of the U.S., New York City.   •   Share

Fast-growing fintech behemoth Brex is raising big money as its customer base itself — high-growth and spendy startups — is struggling. The company, which sells a credit card tailored for startups, today announced that it has raised $150 million in a Series C extension from a group of existing investors.   •   Share

Modulr, the U.K. fintech that offers ‘Payments as a Service’ as an alternative to commercial and wholesale transaction banking, has secured £18.9 million in growth funding. Leading the round is Highland Europe with participation from existing investors including Frog Capital.   •   Share

With this deal Goldman fills in the last piece of its wealth management ecosystem consultant Gavin Spitzner says.

Something More for You to Read
AltFi asked four fintech executives whether a recession was the right time to launch a fintech.   •   Share

The U.S. Patent office published a Visa patent application to create a technology gateway that could allow central bank currencies for any nation to be digitized.

The Covid-19 coronavirus has spurred the use of financial technology (fintech) in Bahrain, which could boost the industry in the country and wider Gulf region.

Plaid Exchange is a strong vision and will get the attention of a lot of financial institutions. But Plaid must still overcome some hurdles.   •   Share

MAS,SFA, AMTD Group and AMTD Foundation announced the launch of a S$6 million MAS-SFA-AMTD Fintech Solidarity Grant to support Singapore-based Fintech firms amid the challenging business climate caused by the pandemic.   •   Share

Societe Generale and France’s central bank – Banque de France – have tested the settlement of a transaction using a central bank digital currency (CBDC) on the blockchain.

The founder — and long-time CEO — will now become President of Monzo at a tough time for the challenger bank, which has been hit hard by coronavirus.   •   Share
Techstars Startup Digest Fintech is curated by:
Alessandro Ravanetti Alessandro Ravanetti - Freelance content writer and copywriter. Working in the fintech industry since 2011, I built and managed digital companies with distributed teams and international partners, gaining experience with both startups and large corporations. I am an independent expert with the European Commission, FundingBox and the Eureka Network, and an advisory board member of SXSW.
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