article thumbnail

Today In Digital-First Banking: Next Insurance Aims To Raise $250M In Funding; FLEETCOR Agrees To Purchase AFEX

PYMNTS

billion, and FLEETCOR has come to an arrangement to purchase cross-border payment company Associated Foreign Exchange (AFEX). Next Insurance Looks To Secure $250M Funding Round To Reach $2.25B Valuation. Plus, Nacha has announced the introduction of cybersecurity and voice payment resources.

article thumbnail

China's Central Bank Tells Ant Group To Concentrate On Payments Business

PYMNTS

The Chinese central bank's statement came after it had met with representatives of Ant and regulatory officials from the country's securities, banking and foreign exchange sectors, presented as a Q&A with PBOC vice governor Pan Gongsheng. There weren't many more specifics than that.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Shanghai Stock Exchange Holds Up Ant Group IPO Following Regulators' Questioning

PYMNTS

The latest developments have to first be disclosed to investors, the exchange said. By avoiding the title of financial institution, Ant gets a tech company’s valuation and attracts more investors. 2) to answer questions behind closed doors. Also summoned were Ant Group Chairman Eric Jing and Chief Executive Simon Hu.

article thumbnail

Ant Mulls Rerouting Financial Services To Separate Holding Company

PYMNTS

If it is approved, the company’s estimated valuation of $315 billion would likely be slashed. The previous day, PBOC met with representatives of Ant and regulatory officials from the country's securities, banking and foreign exchange sectors. Consumer lending is Ant’s biggest revenue driver, followed by Alipay. .

article thumbnail

Airwallex, Visa Team For Borderless B2B Card

PYMNTS

The Visa partnership offers users secure, cross-border payments in multiple currencies while taking advantage of Airwallex’s competitive foreign exchange rates. B2B transfers are expected to reach a $218 trillion valuation in the next three years alone.

B2B 71
article thumbnail

London’s Finablr Finds $1B In Debt Charged To Company

PYMNTS

London-based Finablr , which owns two foreign exchange businesses, found that the overall debt of the company was $1.3 Travelex has also faced its own issues, announcing last week on April 22 that it was seeking a buyer as a strategic idea to meet valuation for shareholders. million to the hackers.

article thumbnail

B2B FinTechs Diversify Funding Strategies With M&A, IPOs

PYMNTS

According to Iron Pillar’s report, B2B startups need 50 percent less capital than startups providing consumer-facing products and services if they wish to achieve a $1 billion valuation (unicorn status). Funding Xchange secured $10.3 In pursuit of its $1 billion valuation, Tyro said its float will seek to raise about $172.32