Payments Ecosystem

Canadian payments firm Nuvei has agreed a $250 million cash deal to acquire Simplex, a fintech startup providing fiat infrastructure to the cryptocurrency industry.

Bengaluru-based fintech lending platform KreditBee’s holding entity, Finnov has raised an additional $70 million in a follow-on Series C round from TPG-backed NewQuest Capital Partners and Motilal Oswal Private Equity.

Mastercard, Visa and host of America's biggest banks have joined a $40 million Series A funding round for Greenwood, the digital banking startup targeting Black and Latino people and business owners.

ING Ventures is investing an additional $3 million into Flowcast, a fintech startup that applies AI to the credit and collection process for non-performing loans.

Codat, the API-based platform for business data, has received strategic investments from PayPal Ventures and American Express Ventures.

Mexican fintech Stori has raised $32.5 million in a Series B funding round to bring credit cards to the country's middles class.

UK insurance and pensions house Aviva is moving in to the cash savings market through a tie up with deposit platform Raisin.

SeedFi, a startup promising to help Americans build their credit and savings, has raised $15 million in equity and $50 million in debt.

The Hong Kong Monetary Authority (HKMA) has unveiled the first batch of virtual banking licenses, the latest in a series of moves to help spark innovation in the city and strengthen Hong Kong’s position as an international financial hub.

NAB Ventures has joined a $2.5 million funding round in Earnd, a Sydney startup that allows employees to draw down their salary in installments.

In a reversal of the trend for banks to buy fintech startups, European saving platform Raisin is proposing a takeover of its long-time service bank, MHB Bank of Frankfurt.

HSBC is teaming up with commercial lending platform Neptune Financial (NepFin) to target middle market businesses in the US in need of capital.

UK small business lender iwoca has raised £150 million in equity and debt capital, including figures from a recent Series D equity round led by Augmentum Fintech.

State financial regulators in the US have approved an action plan to streamline the experience of fintech startups setting up shop across multiple jurisdictions.

Aire, a fintech startup bidding to make credit "fairer" for consumers, has raised $11 million in a Series B funding round led by Crane Venture Partners and joined by Orange Digital Ventures and the venture arm of Experian.

Open Banking outfit Bud has raised $20 million with the support of Goldman Sachs, HSBC, ANZ, Banco Sabadell and Investec, as well as Lord Fink, the former chief executive of hedge fund Man Group, and 9Yards Capital.

Lithuania is continuing to cement its status as a global fintech hub, reporting a 45% growth in the sector throughout 2018 thanks to a fast-track licensing regime which has attracted big name players like Revolut and Google to the country.

BBVA's venture fund has made its first foray into the Indian market, joining a $6.2 million Series A round for consumer investment startup Groww.

The American Bankers Association (ABA), Accenture Ventures, and SunTrust Bank have joined in a $30 million financing round for SaaS-based core banking startup Finxact.

The ongoing shutdown of the US government, sparked by a disagreement over funding for border security, is starting to impinge on the US fintech industry, according to reports.

The UK's mortgage broking industry is being revolutionised by a new breed of online price comparison and fulfilment startups, with Trussle the lates

Citi has become the latest financial services giant to open up its technology and architecture to third parties through the launch of a global AP