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FinTech Revolut’s Losses Triple As Customer Base Grows

PYMNTS

With its losses mounting, the London-based digital bank may need to tap into its corporate reserves to keep up with its expansion plans. Revolut attributed the losses to its expansion into new markets and the introduction of new products. The company posted a total loss of $139.6 million (£106.5 million) in 2019 — up from £32.9

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The legacy clock is ticking

Chris Skinner

Further to my recent trip to Pakistan Business Recorder (their version of The Financial Times) interviewed me in depth about what is happening in FinTech. He is the Chair of the European networking forum: the Financial Services Club and sits on the advisory boards of numerous companies including Innovate Finance, Moven, and Meniga.

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Canadian Fintech Market Map

CB Insights

Finally, looking at Canadian “fintech” (financial technology) specifically, funding was up substantially in the first half of the year. The 2019 Canadian fintech market map. Startups headquartered in Ontario dominate the table, with over 40 fintech companies from this market map headquartered in the Greater Toronto Area.

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B2B Neobank Qonto Gets $115M In Series C Round

PYMNTS

Qonto intends to squeeze more out of its existing markets, improve and upgrade the offerings on its platform, and focus more on local needs. It also plans to hire more employees with the capital. In 2018, Qonto was awarded a payment institution license, developing its own banking apparatus from there. million.

Capital 131
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Chime, Challenger Banks And The Challenges Of (Lofty) Valuations

PYMNTS

On a day that saw a stock market rout – particularly on the tech-heavy NASDAQ, which was down a percent – in at least some areas of finance, investors remain sanguine. Perhaps “overly optimistic” might be the mindset that marks private markets. Regional players like BankUnited have even smaller market caps (at about $2 billion).

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Varo Achieves Milestone As First Consumer FinTech To Get National Charter

PYMNTS

Colin Walsh got lots of laughs five years ago when he talked of his intention to launch a financial technology (FinTech) startup. the San Francisco-based online bank, had the last laugh. Since then, the skepticism has evaporated and the CEO of Varo Money Inc. , Last month, Varo closed on a $241 million Series D funding round.

National 172
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Fintech Deals to Watch: Fall Festivities

Gonzobanker

Digital: Pigskin Pick-Ups Bankjoy , a digital banking provider, had a funding round led by the Curql Collective Credit Union Service Organization. Treasury management provider Dragonfly Financial Technologies launched independently from an ACI Worldwide sale. LevelField Financial Inc.

Fintech 103