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Railsbank Buys Wirecard & Amex Buys Kabbage, N26 Staff Unrest, Crowdcube IPO-Alternative

Hello and welcome to your weekly digest about financial technology. If you’re returning from last wee
Issue #69  •  August 24  •  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.
How’s your Summer is going? Looking forward for your updates 😊
Happy reading,
This Week in Fintech
Startup shareholders will soon have a new way to cash out on their equity, with Crowdcube announcing the launch of its ‘liquidity’ platform on Thursday.   •   Share

N26, one of Europe’s largest digital banks is battling employee efforts to unionise as confidence in management has hit an “all time low”.   •   Share

Funding, Merger & Acquisitions
American Express is acquiring small business lending company Kabbage in a move to expand beyond card services and offer Main Street access to payments and working capital technology.   •   Share

The UK subsidiary of the discredited German fintech Wirecard has been scooped up for an undisclosed amount by competitor Railsbank.   •   Share

The popular stock trading app’s valuation jumped from $8.6 billion to $11.2 billion.   •   Share

TurboTax’s Credit Karma merger is under review by the Department of Justice, which has concerns over antitrust issues caused by Intuit purchasing its free competitor.

Splitit, a global payment platform that enables shoppers to pay installments via their credit cards – announced that it has raised $71.5 million through a private placement and share purchase plan (SPP).   •   Share

Magnetis, an automated wealth management solution for Brazilian investors, has raised $11 million in a new round of funding as it transforms itself into a full-service brokerage for the nation’s investor class. Investors in the round included Redpoint eventures and Vostok Emerging Finance, the company said.   •   Share

Something More for You to Read
2020 has seen continuing success for established fintech startups but has been disastrous for many early-stage startups with lack of investment. There are hopeful signs on the horizon with customers demanding better automation and digital experiences from their banks, an advantage for fintech.   •   Share

A common taxonomy could be a great help in regulatory terms and to aid the future growth of crypto products

The exponential growth of financial technologies industries in Croatia is already drawing global interest – and could offer inspiration for the rest of the region.

Bunq has become one of the first digital banks to enter the mortgage market, announcing a plan to start lending €100m in its native Holland.   •   Share

The global card issuer will provide its tokenization technology for JPMorgan Chase’s virtual card program in early 2021.
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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