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FinTech Revolut’s Losses Triple As Customer Base Grows

PYMNTS

million) in 2019 — up from £32.9 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 FinTech has since expanded to offer business banking.

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MoneyGram Teams With Korean FinTech To Boost Digital Growth

PYMNTS

GME) one of the largest payment financial technology companies in South Korea, according to a Tuesday (June 23) announcement by MoneyGram. Our new partnership with GME, one of the fastest-growing fintech companies in a key market, will further support this strong digital growth.”.

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VC Fintech Investing Declines In First Quarter

PYMNTS

Investing on the part of venture capitalists in financial technology startups — otherwise known as FinTechs — declined during the first quarter of 2019, with China feeling the most pain. In the first quarter of 2018 venture funding going toward FinTechs stood at $6.2 It has a valuation of $2.7

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FICO To Debut New Credit Scoring System In 2019

PYMNTS

Fair Isaac, creator of the FICO credit score, will be rolling out a new scoring system in early 2019. FICO revealed that it is in discussions with several lenders, including banks and financial-technology firms, that have expressed interest in using the new score in a pilot. Currently, a record 58.2 percent of U.S.

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Canadian Fintech Market Map

CB Insights

While deals and dollars slowed to Canadian startups in the first half of 2019, early-stage startup activity suggests that there’s more to the story. GET THE ENTIRE 41-PAGE CANADA VC REPORT H1 2019. Canadian VC-backed companies saw funding drop 13% in H1 2019 compared to H1 2018. The 2019 Canadian fintech market map.

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People’s Bank Of China To Regulate FinTech

PYMNTS

The People’s Bank of China (PBOC) announced that it is planning to steadily develop a system of rules to regulate financial technology (FinTech) in the country. China has become an emerging FinTech market due to its expanding middle class, rapid digitization and electronic payments adoption.

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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 On Monday (January 28) Acorns , the FinTech that helps users invest spare change, announced a Series E found of funding that gives it a valuation of $860 million, pushing it nearer to unicorn status. FinTechs brought in $11.89 In the U.S. billion, also a record.

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