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Top Funded FinTech Startups Founded in 2018

Let's Talk Payments

A growing number of new players in any industry is a sign of an expanding market and opportunities for innovators. Increasing access to capital, consumer awareness, and acceptance to new ways of managing finances and other ecosystem drivers have been attractive for entrepreneurs in 2018 as well. FinTech is not an exception here.

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Top News In Payments: China Posts Worst Slowdown In Nearly Three Decades; Alphabet Market Cap Hits $1T

PYMNTS

In today’s top news, China’s economy grew by its slowest rate since 1990, Alphabet reached $1 trillion market value, and attempted check fraud spiked 43 percent. Alphabet Market Cap Hits $1T. Google’s parent company, Alphabet, reached $1 trillion market value, joining Apple, Amazon and Microsoft in hitting the milestone.

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FinTech Revolut’s Losses Triple As Customer Base Grows

PYMNTS

million in 2018 — according to CNBC. Revolut attributed the losses to its expansion into new markets and the introduction of new products. Revolut , one of the biggest players in the crowded financial technology (FinTech) sector, has yet to make a profit. The company posted a total loss of $139.6 million (£106.5

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FinTechs Raised A Record $39.57B In VC Funding Last Year

PYMNTS

Financial technology startups were able to raise $39.57 What’s more, a $14 billion investment in Ant Financial represented 35 percent of the total funding in 2018. Ant Financial is the payment affiliate of Alibaba, the Chinese eCommerce giant. billion in funding in 2018, setting a new record.

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Why Micro-Lending Is Branching Out In 2018

PYMNTS

Coming up on the half mark in 2018, total fundraising on the continent has hit $168.6 Financial technology seems to be leading the startup charge, representing 40 percent of the largest 10 deals of the year so far, collectively worth $100 million. million — already ahead of 2017’s full-year take of $167.7 So why the boom?

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STC Pay, Moven Team Up To Launch Saudi Challenger Bank

PYMNTS

STC Pay, which does financial technology work for both companies and individuals, works with the Saudi Arabian Monetary Agency. Its digital wallet was introduced in October of 2018, enabling users to do things like pay bills, send money internationally and share or transfer money with people they know.

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Citi Venture Investing Head: ‘Financial Services is Becoming More Like Tech’

Bank Innovation

Strategic participation in fintech climbed in 2018, with 41% of all fintech financings containing either a corporate VC or strategic investor. This is up from 35% in 2017, and way up from 18% in 2013, according to Financial Technology Partners’ 2018 Annual Fintech Almanac.

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