Feb 1, 2021

Reddit's Run on GameStop, Robinhood in the Eye of the Storm, Nubank Series G

Issue #90 — View online — Suggest a link

Fintech

Sharing with you relevant and exciting utilization of a number of innovative technologies, be it disruptive or sustaining to the existing financial services industry.

Hey fintechers,

This week we look into the Reddit slash GameStop slash Robinhood mess that took Wall Street and fintech trading apps by a storm. But also at Nubank new raise, at TransferWise partnership for global debit card rollout, at pre-seed funding development in Africa, plus much more.

As always, if you like this newsletter, remember to share the love and tell your fellow fintech enthusiast friends to sign up here.

Happy reading,

Alessandro

This Week in Fintech

Robinhood Is New Eye of GameStop Storm as Outrage Grows

Online broker Robinhood has been one of the hottest venues in this week’s retail-trading frenzy but its sudden curbs on buying of some hot stocks have raised the ire of customers, celebrities and politicians who argue it unfairly benefits bigger investors.

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All the Ways the GameStop Roller Coaster Could End

It could crash. It could coast. It could hook hedge funds to Reddit. And it could change Wall Street forever.

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Reddit's run on GameStop shuts down European trading apps

Trading app outages driven by GameStop surge have angered rank and file investors as well as Reddit’s stock bros.

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Funding, Merger & Acquisitions

Fintech Darling Nubank Raises Blockbuster $400m Series G at $25bn Valuation

While the pandemic has left some startups strapped for cash, the aptly-named Brazilian neobank Nubank is swimming in it. This morning, the company announced that it has raised a $400 million Series G round, putting their total funding to date at $1.2 billion.

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Robinhood, in Need of Cash, Raises $1 Billion From Its Investors

The no-fee trading app, which is popular with young investors, has been strained by the high volume of trading this week in stocks such as GameStop.

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Milan-Based Scalapay Raises €40m To Expand Its 'Buy Now Pay Later' Solution

Scalapay, a third-party payment solution that enables customers to buy now and pay later (BNPL) without interest, announced that it has raised a €40 million seed round led by Fasanara Capital that also included Baleen Capital, and Italian Family Office Ithaca Investments.

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Completing a $110m Funding Round, B2B Payments Company Melio Becomes Israel’s Newest Unicorn

The company, now valued at $1.3 billion grew by 2,000% courtesy of Covid-19, aims to recruit 300 new employees this year

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Fintech Albert Raises $100 Million

US financial technology startup Albert has raised $100 million in a round led by General Atlantic, the company said on Tuesday. The company hopes to help consumers automate their financial life by offering personalized advice through a team of experts it calls “geniuses”.

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Something More for You to Read

How Fintech and Serial Founders Drove African Pre-Seed Investing To New Heights in 2020

When Stripe-subsidiary Paystack raised its seed round of $1.3 million in 2016, it was one of the largest disclosed rounds at that stage in Nigeria. At the time, seven-figure seed investments in African startups were a rarity.

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JP Morgan Commits £500m To LendInvest and Future Loan Originations

LendInvest, a UK based fintech in the property finance sector, has received a compelling commitment from global banking giant JP Morgan. According to LendInvest, JPM has committed £500 million for future loan originations via its platform.

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China Central Bank Policymaker Says Fintech Needs Regulation Just Like Banks

Pan Gongsheng, deputy governor of the People’s Bank of China, said in a Financial Times op-ed fintech companies need to be regulated as financial institutions.

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TransferWise and Visa Reveal Partnership for Global Debit Card Rollout

TransferWise is expanding its debit card for its multi-currency account into dozens of new markets using new Visa’s new cloud infrastructure.

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California Consumer Agency Strikes Data-Sharing Deal With Fintech Companies

A newly empowered California consumer protection agency has signed a data-sharing deal with multiple fintech companies in an effort to keep an eye on the benefits and risks of their products.

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Techstars Startup Digest Fintech is curated by:

Alessandro Ravanetti - Fintech copywriter & content strategist. Working in the fintech industry since 2011, previously as a founder and now as a consultant. Independent expert with the European Commission and SXSW advisory board member.
alessandro.ravanetti@startupdigestmail.com

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