Fintech in 5
The weekly newsletter that covers top Fintech news and funding announcements with thoughtful takes, in 5mins or less.
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Plus: Digital wallets are at the heart of the U.S. Gov vs. Apple lawsuit, Chime wants to IPO in 2025 and Railsr is looking to merge with Equals Group.
Plus: Monzo raised $430M at a $5Bn valuation, NatWest is ending their BNPL offer and PayPal launched a new SME offering.
Nubank posted a cool $1Bn net profit, Klarna's AI will replace 700 customer services jobs and American Express launched a BNPL offering for UK cardholders.
Temenos lost $2.4B in market value after a 30%+ stock drop prompted by Hindenburg Research, Webull is going public via a SPAC, Google will kill Google Pay in the US, instant payments are to become the norm in the EU and Bitcoin crossed $60K+.
Capital One agrees to buy Discover Financial for $35bn, Monzo targets £4bn valuation in fresh funding round and Turkish Fintech unicorn Papara is set to acquire Sadapay in possible $50M deal.
Last week, just 2 European Fintechs raised money for a total of 50,3M €.
Shares in Adyen surged after strong Q2 earnings, Revolut is giving a 3gb global data plan to their Ultra clients, Apple Cash is launching a virtual card number feature and more.
Last week, a total of 82,2M € was raised by 5 Fintech companies across Europe (France, Estonia, UK, Denmark and Lithuania) by Pennylane, Tuum, Navro, Pluto.markets and Axiology.
This week, the EU is forcing Apple to open its iPhone NFC to third parties, Mastercard is launching a new AI model to detect fraud, AML regulation is changing, and more.
Google is launching a BNPL pilot, Trade Republic secured an EU banking license, British regulators may put a cap on cross-border card fees, and more.
Pismo has been acquired by Visa for US$1 billion, Robinhood is launching in the UK and cheaters are using Revolut to secretly text their lovers.
