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This Sequoia Capital-Backed Neobank Raised $750M To Scale Operations

CB Insights

The round drew participation from Sequoia Capital, Tiger Global Management, General Atlantic, SoftBank Group, and Dragoneer Investment Group. California-based Chime collaborates with regional banks to create member-centric financial products, coining itself as a financial technology firm rather than a bank.

Capital 78
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SoftBank To Lead $125M Round For LATAM FinTech AlphaCredit

PYMNTS

Alcanza Capital and Bontu. As SoftBank’s Latin America fund is one of the leading technology investors in the world, the equity infusion will give AlphaCredit the opportunity to “consolidate its place as one of the leading financial technology platforms” in the region, a press release says.

Fintech 247
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SoftBank Earmarks $1B For eCommerce, Healthcare And FinTech In LatAm

PYMNTS

Its investment in Latin America this year will target eCommerce, healthcare, FinTech and other industries, as it looks at about 650 firms in the region. SoftBank has so far earmarked $100 million to $150 million to fund 17 companies and two venture capital firms. . “We

Fintech 174
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STC Pay, Moven Team Up To Launch Saudi Challenger Bank

PYMNTS

The founder of Moven, Brett King, said the new venture would be a “world-class” bank, and that it would set its sights on the Gulf Cooperation Council (GCC) region. STC Pay, which does financial technology work for both companies and individuals, works with the Saudi Arabian Monetary Agency.

Regional 222
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ACI Worldwide, Mastercard Join Together To Ramp Up Real-Time Payments

PYMNTS

With more countries and regions embarking on the modernization of their payments systems to capitalize on real-time technologies and customer demand, the market opportunity is significant,” said Paul Stoddart , Mastercard president of new payment platforms.

Payments 248
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Today In Digital-First Banking: Sea Purchases Indonesian Bank BKE; PSCU Extends Partnership With Fiserv

PYMNTS

The purchase is said to be in line with Sea’s aim to expand its position as a FinTech trailblazer throughout the region. Vietnam’s MoMo, the digital wallet company, has raised $100 million from a collection of six investors co-led by Goodwater Capital and Warburg Pincus. and PT Danadipa Artha Indonesia.

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Hong Kong’s FinTech Strategy

Chris Skinner

It shows how important FinTech is when major financial centres vie for focus. London has been leading the charge to be the FinTech capital of the world, but many other cities are nipping at their toes. Many FinTechs are providing financial services directly to customers in areas such as payments and P2P (peer-to-peer) lending.

Strategy 271