PYMNTS

DECEMBER 27, 2020

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.

Concentration 90

Concentration Foreign Exchange Banking Valuation 90

PYMNTS

AUGUST 11, 2020

Founded in 2015, Revolut began by offering prepaid debit cards that allowed users to avoid foreign exchange fees while traveling abroad. The startup offers its digital banking features with a debit card that users can attach to their accounts and cellphones. The FinTech has since expanded to offer business banking.

Profit and Loss 95

Profit and Loss Foreign Exchange Startups Banking 95

PYMNTS

MAY 5, 2020

Although the startup lost revenue due to decreased card usage worldwide amid COVID-19, it’s still in a solid position. . Founded in 2015, Revolut began with a prepaid debit card that enables people to sidestep foreign exchange fees while traveling abroad. Revolut raised $500 million in February, which upped its valuation to $5.5

Foreign Exchange 70

Foreign Exchange Startups Valuation Banking 70

PYMNTS

MARCH 1, 2019

Developed by a London startup of the same name, AZTEC offers encryption of blockchain data at a lower cost, and with a more efficient process, than previous versions. JPMorgan Chase is testing out a zero-knowledge privacy solution called AZTEC. It’s being tested by the most important bank in blockchain today.

Foreign Exchange 75

Foreign Exchange Data Analysis Startups Banking 75

CFO Share

JANUARY 26, 2024

For example, an early-stage tech startup may emphasize User Growth Rate, whereas a growth-stage startup should prioritize Customer Lifetime Value (LTV.) Foreign exchange rate, while important to an international business, is outside its control and largely unactionable. Gourmet restaurants focus on Avg.

Foreign Exchange 52

Foreign Exchange Concentration Benchmarking Prioritization 52

PYMNTS

NOVEMBER 13, 2020

But it was a Banking-as-a-Service company that led the roundup this time, with one startup looking to expand into Credit Cards-as-a-Service with its latest investment. With nearly $90 million in new funding landing at B2B FinTechs this week, investors showed off a diverse range of focuses, from procure-to-pay to small business payments.

B2B 91

B2B Banking Foreign Exchange Startups 91

PYMNTS

DECEMBER 1, 2019

French startup Pixpay is the first challenger bank to cater to teens, offering a debit Mastercard for cashless payments, news outlets reported on Friday (Nov. Eventually, the startup wants to allow teens to get paid for particular chores or jobs and let more than one parent manage a child’s account. The startup has raised $3.4

Banking 60

Banking Foreign Exchange Startups Education 60

PYMNTS

JULY 28, 2020

For one, the digital bank startup said it had landed $80 million in venture funding from San Francisco-based TSG Consumer Partners. This week, Revolut said banking veteran Richard Davies is leaving his role as CEO , only one year after coming aboard help boost the startup. This is exactly what we are doing here with Revolut.”.

Foreign Exchange 56

Foreign Exchange Startups Banking Technology 56

PYMNTS

JULY 30, 2019

FinTech startup Flutterwave is teaming up with Alipay to offer digital payments between Alipay and African merchants. Nigeria can be a very complex foreign exchange environment,” Mike Massaro, CEO at Flywire, said at the time.

Foreign Exchange 76

Foreign Exchange Reconciliations Healthcare Education 76

PYMNTS

MARCH 19, 2019

InstaReM, the Singapore FinTech startup that enables banks and consumers to send money across borders , raised $41 million in venture funding. According to a report in TechCrunch , the four-year-old startup raised the money in a Series C round of funding. To date, the startup has raised $59.5 million, according to the report.

Foreign Exchange 64

Foreign Exchange Startups Currencies Investments 64

PYMNTS

MARCH 17, 2020

Founded in 2011 by Estonian friends Käärmann and Taavet Hinrikus, the startup set out to make foreign exchange fees more transparent. The startup has raised a total of $772.7 TransferWise has a valuation of $3.5 billion following its last funding round of $292 million in May 2019.

Foreign Exchange 56

Foreign Exchange Valuation Startups Currencies 56

PYMNTS

MARCH 11, 2016

million to B2B startups. Adding to the confusion is the latest data from KPMG International and CB Insights, which revealed that private investment in FinTech startups more than doubled last year. Still, B2B startups continue to land on VCs’ radars. foreign exchange payments company FairFX scored nearly $7.5

B2B 40

B2B Startups Foreign Exchange Valuation 40

PYMNTS

FEBRUARY 15, 2019

HSBC ‘s blockchain-based system has helped the bank save 25 percent on foreign exchange (FX) trades. In other news, CoinDesk discovered that the Central Bank of Iran is working with two blockchain startups on a new token ecosystem.

Foreign Exchange 63

Foreign Exchange Risk Management Startups Currencies 63

PYMNTS

DECEMBER 21, 2016

Axoni, the blockchain startup, is about to get a multimillion-dollar investment from some big heavy hitters on Wall Street. During the course of the last six months, Axoni has run experiments with some of the biggest players in the financial industry in post-trade processing of credit default swaps and foreign exchange, reported Reuters.

Foreign Exchange 46

Foreign Exchange Investments Startups Currencies 46

PYMNTS

APRIL 29, 2020

German banking platform Mambu has announced a collaboration with TransferWise to enhance banks’ cross-border payments and foreign exchange management operations, the companies recently revealed. Meanwhile, other partnerships between banks and FinTechs embrace data sharing to target friction for joint small business customers.

Banking 95

Banking Foreign Exchange Invoicing Finance 95

PYMNTS

AUGUST 14, 2017

Moneytis, the FinTech startup, has created a platform to help consumers find the cheapest foreign exchange services and send money seamlessly, taking a page from travel aggregator websites like Booking.com and Expedia. I was an expat in China, and Etienne [Tatur] was in Europe.

Foreign Exchange 43

Foreign Exchange Startups CFO Currencies 43

PYMNTS

OCTOBER 11, 2019

After one of the busiest weeks of the year for B2B startup venture capital funding, this week revealed a bit of a lull in the market. It was an SMB InsurTech startup, however, that led this week’s roundup, and brought the market its newest unicorn. Fleet management startup Avrios , based in Germany, raised $14.2

Foreign Exchange 67

Foreign Exchange Startups B2B Investments 67

PYMNTS

JULY 12, 2019

Targeting the freelancer and small business space, FinTech startup Sensibill announced $31.5 In India, Horizons Ventures, Tencent and JS Capital provided $35 million in Series B funding to digital banking startup NiYO , a press release said this week. startup that offers corporate spend management solutions in the U.K.,

B2B 64

B2B eCommerce Foreign Exchange Startups 64

PYMNTS

NOVEMBER 22, 2019

Talk of a decelerating FinTech venture capital market continued to mount this week with reports that digital banking startup Aspiration is struggling to raise money. Indeed, WeWork’s recent troubles have shaken confidence in the tech startup funding environment. The Access Group , a U.K. According to BusinessLeader.co.uk

Mergers and Acquisitions (M&A) 43

Mergers and Acquisitions (M&A) B2B Foreign Exchange Startups 43

PYMNTS

MARCH 3, 2020

Sage anticipates a “statutory non-cash loss on disposal of £15 million on completion, of which £11 million reflects the reclassification of foreign exchange losses from other comprehensive income to the income statement,” according to the company. In addition, cloud-native software startups like Xero and Tipalti became serious rivals.

Profit and Loss 52

Profit and Loss Foreign Exchange Accounting Startups 52

PYMNTS

OCTOBER 26, 2018

Targeting China’s SMB community, XTransfer provides cross-border payments, collection and foreign exchange solutions, with its eye fixed on exporters. The startup announced this week a $10 million fundraiser led by China Merchants Group, while 01VC, Yunqi Partners and Gaorong Capital also participated in the Series A round.

Foreign Exchange 77

Foreign Exchange B2B Invoicing Startups 77

PYMNTS

MAY 24, 2017

From small startups to large consortiums, these companies are raising a glass in thanks to their investors. 116 million | Venture capital funding landed by TransferWise, a London FinTech startup , as it rolls out a new foreign exchange account to supplement its international money transfer offerings.

Foreign Exchange 40

Foreign Exchange Startups Investments Finance 40

PYMNTS

FEBRUARY 15, 2019

Right now, the commission charged — along with foreign exchange — takes an average of 8 percent out of every remittance. There are 75 startups now in Mexico specializing in payments and remittances, while apps like Remitly and Xoom have become more popular in the country. Herrera said that needs to be brought down to 5 percent.

Foreign Exchange 57

Foreign Exchange Startups Finance Banking 57

PYMNTS

JANUARY 30, 2019

FinTech startups like GDC are seeking to evolve with the times, combining these know-your-business (KYB) checks with know your customer (KYC) and underlying technology to provide an application programming interface (API).

Foreign Exchange 74

Foreign Exchange Compliance Startups Currencies 74

PYMNTS

SEPTEMBER 18, 2019

TransferWise, one of Europe’s top five FinTech startups , announced profits for the third fiscal year in a row, with revenue after taxes 66 percent higher than last fiscal year, CNBC reported on Wednesday (Sept. This is indeed rare but it is very important for us internally,” Kaarmann told the news outlet in a phone interview.

Foreign Exchange 46

Foreign Exchange Startups Banking 46

PYMNTS

SEPTEMBER 18, 2019

TransferWise, one of Europe’s top five FinTech startups , announced profits for the third fiscal year in a row, with revenue after taxes 66 percent higher than last fiscal year, CNBC reported on Wednesday (Sept. This is indeed rare but it is very important for us internally,” Kaarmann told the news outlet in a phone interview.

Foreign Exchange 46

Foreign Exchange Startups Banking 46

PYMNTS

JANUARY 13, 2017

12) that the application process for its incubator is now open, with CSI Kick Start looking for companies innovating in the areas of virtual cards, ACH, foreign exchange and other B2B payments issues, like fraud and digitization. The company said Thursday (Jan.

B2B 49

B2B Foreign Exchange Accounts Payable Startups 49

PYMNTS

DECEMBER 17, 2018

Reuters , citing Saxo Chief Executive Officer Kim Fournais, reported the deal is being prompted by the need for traditional banks to push back against FinTech startups, new payment companies and large internet companies like Amazon, which are getting into the payments industry.

Foreign Exchange 49

Foreign Exchange Banking Startups Investments 49

PYMNTS

DECEMBER 4, 2017

International payments startup Airwallex is taking steps to link its corporate customers to the U.K.’s Through their collaboration, RailsBank customers will also gain access to Airwallex’s cross-border payments and foreign exchange (FX) services. s Faster Payments scheme. In an announcement on Friday (Dec.

Foreign Exchange 49

Foreign Exchange Startups Compliance Banking 49

PYMNTS

SEPTEMBER 18, 2019

TransferWise, one of Europe’s top five FinTech startups , announced profits for the third fiscal year in a row, with revenue after taxes 66 percent higher than last fiscal year, CNBC reported on Wednesday (Sept. This is indeed rare but it is very important for us internally,” Kaarmann told the news outlet in a phone interview.

Foreign Exchange 40

Foreign Exchange Startups Banking 40

PYMNTS

NOVEMBER 22, 2016

Goldman was one of the two leading investors in a $50 million round of funding for Circle Internet Financial, which is a bitcoin startup, noted WSJ. Goldman Sachs is also aiming to get patents on two blockchain inventions, with one for foreign exchange trading and the other focused on digital currency, according to WSJ.

Foreign Exchange 59

Foreign Exchange Currencies Startups Investments 59

PYMNTS

APRIL 16, 2020

Currencycloud is connecting regional banks to advanced FX and global payments technologies, while the firm’s founder, Nigel Verdon, is also targeting Banking-as-a-Service with his new startup, Railsbank. Catch up on the most recent efforts to unlock, share and integrate bank data below. Visa Invests in Open Banking FinTech Railsbank.

Finance 67

Finance Foreign Exchange Compliance Banking 67

PYMNTS

MARCH 17, 2020

To stay competitive, especially with digital startups unencumbered by legacy systems, traditional financial institutions (FIs) need to deliver seamless customer services to individual consumers and enterprise customers alike. With open APIs you can pretty much build an entire ecosystem for payments providers,” he said.

Foreign Exchange 91

Foreign Exchange Compliance Securities Startups 91

PYMNTS

AUGUST 14, 2019

The freight logistics startup Kobo360 in Nigeria has raised $20 million in a Series A funding round led by Goldman Sachs, as reported on Wednesday (Aug. FinTechs looking at Africa must grapple with the vagaries of 54 markets, 54 central banks, disparate tax and legal policies, and changing foreign exchange ( FX ) rates.

Foreign Exchange 43

Foreign Exchange Transportation Startups Banking 43

PYMNTS

NOVEMBER 28, 2018

In anticipation, banks have reportedly extended credit to corporate clients early and have begun to sell insurance to mitigate the risk of foreign exchange (FX) volatility. based startups with currency hedging solutions to mitigate FX volatility risk resulting from Brexit, reports said. million USD) to £3 billion. .”

Banking 49

Banking Foreign Exchange Finance Currencies 49

PYMNTS

JANUARY 16, 2020

Application programming interfaces (APIs) comprise one way to speed up services, as they can quickly connect multiple parties while securing transactions and data exchanges. Some already handle issues such as payments and collections, foreign exchange (FX) support and liquidity management. s banking ecosystem.

Banking 52

Banking Foreign Exchange Startups B2B 52

PYMNTS

MARCH 9, 2017

based startup specializes in making it possible for businesses to offer cross-border payment services. On Currencycloud’s current partner list are Klarna Inc, Standard Bank Group and foreign exchange company Travelex Ltd.

Investments 40

Investments Foreign Exchange Startups Banking 40