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Goldman spinoff Simon tops $800 million as WestCap invests

BankInovation

Simon Markets, a financial-technology platform that spun out of Goldman Sachs Group Inc., secured up to $100 million in a financing round led by growth equity firm WestCap.

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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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How Cannabis Can Become A B2B Payments Innovation Influencer

PYMNTS

The legal cannabis market’s financial services challenges are, by now, well-known. Credit unions and regional or community banks have stepped in to fill the banking gap, making barriers to accessing much needed financial services lower than ever before for marijuana businesses.

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EU To Crack Down On Stablecoin Projects

PYMNTS

Valdis Dombrovskis , the EU’s executive vice president of the European Commission for an Economy that Works for People, told attendees of the Digital Finance Outreach 2020 , a series of events for the 27-nation bloc on financial technology companies, that Europe must become the leader in crafting rules for digital finance.

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Mastercard Leads Investment In Mobile FinTech Mobeewave

PYMNTS

The investment funds will enable the Montreal-based startup to continue to deploy its patented solution in markets around the world, develop new product offerings and expand the company’s head count. “We This is a major market validation of our payment acceptance platform, and highlights Mobeewave as an industry leader in the FinTech space.”.

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Revolut Brings Open Banking To Germany In Deal With TrueLayer

PYMNTS

Open banking lets third-party financial service companies to have access to a consumer’s banking transactions and other financial data from financial institutions (FIs). Revolut said its new open banking offer was developed with TrueLayer , a London-based financial technology (FinTech) company.

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IMF’s Lagarde Calls Out FinTech As Industry Disruptors

PYMNTS

Reuters reported Lagarde said that technology companies’ use of big data and AI i ncreases big tech companies’ dominance in the mobile payments market, which could result in policymakers around the world rethinking how they regulate the banking system and how they ensure financial settlements are made safely and securely. “A

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