Sharing with you relevant and exciting utilization of a number of innovative technologies, be it disruptive or sustaining to the existing financial services industry.
Hola fintech friends,
This week we look into Instagram and TikTok as the new battlegrounds for digital banks, China’s clampdown on fintech dominance, financial technology startups take on traditional banks at their own game, plus much more.
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China’s top banking watchdog doubled down on a push to rein in financial technology companies such as Ant Group Co., promising to eliminate monopolistic practices and strengthen risk controls in the industry.
Railsbank, the London-headquartered Banking-as-a-Service platform, has raised $37 million in new growth funding. Leading the round is MiddleGame Ventures and Ventura Capital, which are both existing investors in Railsbank . Also participating is Anthos Capital, Global Brain, Clocktower Technology Ventures, Moneta VC, Mitsui Fudosan and Firestartr.
Clim8, an App-based startup for sustainable investing, closes its latest equity crowdfunding round on Crowdcube with more than £2.3 million raised. The funding round attracted a total of 1909 Crowdcube investors.
It’s no secret that a massive digital transformation is happening within financial services companies and amid the growing number of non-financial outfits that are also adding financial products to their offerings.
Last month, a Silicon Valley startup called Varo Money achieved something it had worked three years to accomplish: it started accepting federally insured customer deposits. It was a watershed moment for the industry — coming only weeks after Varo had become the first consumer fintech company to be granted a national banking charter.
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. firstname.lastname@example.org
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