This Week in Fintech: TFT Bi-Weekly News Roundup 17/11

https://thefintechtimes.com/news-round-up-17-november-2020/
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The Fintech Times Bi-Weekly News Roundup on Tuesday 17 November takes a look at the latest international fintech stories. Mintos has smashed its crowdfunding target, SMBC is investing in OakNorth, while Sugi is encouraging investors to go green.

Investments

OakNorth

OakNorth

Japan’s Sumitomo Mitsui Banking Corporation (SMBC) has invested $30million  into fintech OakNorth. SMBC will deploy the OakNorth Credit Intelligence software to improve the quality, consistency and speed of commercial lending decision-making in the US and Asia. In addition, SMBC has participated in a secondary purchase of shares.

Alternative lender Mintos reached its crowdfunding target of €1million in just 15 minutes. The peer-to-peer lending platform has raised €5.3million in the first 24 hours and is continuing to crowdfund. Mintos has also set a record on Crowdcube of hitting €3million in just over two hours.

Cryptographic security provider Unbound Tech raises $20million in Series B funding. Following the funding from Evolution Equity Partners, Unbound will focus on growing its business in the enterprise sector. The company also plans to increase its headcount an additional 30 per cent by the end of Q1 2021.

Blockchain enterprise ShowPay has secured a $1.5million investment. The funds will help build a global ID scheme, MetaID, as well as expand the team. The investment was led by Jinghe Investment.

While, big data analytics fintech Aqua Rising has announced that investor Mario Singh is a new shareholder. Singh has invested in Aqua, alongside Christain Angermayer’s Elevat3 fund. Singh describes Aqua as a game-changer in the combined fields of fintech, AI and big data.

GB & Partners has invested €6million to take majority ownership of e-money wallet DiPocket. The aim is to make DiPocket a ‘dominant B2B financial service provider in Central and Eastern Europe’. Fedele Di Maggio, co-founder and CEO of DiPocket, said: “GB & Partners is the springboard we had been looking for to propel DiPocket into its next stage of development.”

Partnerships

Banking app Dave has selected Galileo to power its app-based spending account and debit card offering. Dave Banking will use Galileo’s API platform to deliver its digital bank account with no overdraft fees. Additionally, Dave Banking says it is the first bank account to help customers automatically build credit history by reporting on-time rent and utility payments.

Payments Canada, the country’s clearing system, has chosen Mastercard’s Vocalink to provide a real-time payments system. Known as ‘real-time rail’, the system will be operated by Payments Canada and regulated by the Bank of Canada.

Fintech SympliFi launches strategic partnership with the United Nations Capital Development Fund in order to increase access to finance for migrants and families. SympliFi’s solution is designed to increase access to finance for individuals in developing countries, while alleviating financial burdens faced by migrants.

Meanwhile, Saxo Bank, the regtech specialist focused on multi-asset trading, has partnered with UAE-based fintech firm Sarwa. Sarwa says it will now add new asset classes to its offering, as well as boost its client base and product offering.

everyoneINVESTED, the wealth tech spin-off of KBC Asset Management, is hooking up with Objectway in order to provide digital investment apps. The first solution that Objectway will offer utilises everyoneINVESTED’s ‘Profiler’, a fast and user-friendly app for creating digital investor profiles.

While, UK fintech Nuggets has teamed up with LexisNexis Risk Solutions to implement self-sovereign digital identity solutions. The plan is to ‘fundamentally change the way personal information is shared with and used by financial institutions’, as well as enabling businesses to advance privacy and security protocols.

Fintech appointments

Antonia Zeniou Droussiotou has been appointed global head of brand at Skilling

Antonia Zeniou Droussiotou has been appointed global head of brand at Skilling

Antonia Zeniou Droussiotou is the new global head of brand at Skilling

Fx and CFD online trading venue Skilling has appointed Antonia Zeniou Droussiotou as global head of brand. Previously, Antonia served as head of brand and communications at German fintech NAGA. The appointment follows the opening of Skilling’s new office in London.

Xenia Broking has bolstered its leadership team with a trio of appointments. Alun Sweeney joins as non-executive director, Simon Pyper as chief financial officer, while Mark Whiteley is promoted to the regulated boards of the credit insurance and surety specialist.

Aion Bank, the new full service, digital bank, has named Karol Sadaj as country head for Poland. Sadaj will be responsible for developing the subscription-only bank’s product offer for the Polish market, as well as building a team to promote the service next year.

Business pay platform Soldo has appointed former Visa chief marketing officer Mariano Dima as its new president. Dima will oversee Soldo’s business in existing and new markets, while sharing his expertise in driving growth globally across emerging sectors.

Launches

Sugisplash

Sugisplash

Sugi, an app that enables users to check the carbon impact of their investments, launches today. The UK platform allows users to check the carbon impact of their investments and compare with industry benchmarks. Users link their investment portfolios to Sugi via Moneyhub’s open finance API.

Working with Moneyhub, the platform with the most comprehensive financial data connections on the market, allows us to give our users unparalleled access to their investment information in one place.

Josh Gregory, CEO and founder of Sugi

Virgin Money has launched a new regular saver account to enhance its recently launched app, Home Buying Coach, which offers first time buyers a rate of 1.75 per cent. The app – downloaded more than 10,000 times since its August launch – is designed to simplify the home purchase process.

Announcements

British fintech Hastee has secured the acquisition of its Spanish counterpart Typs in order to ‘strengthen its position as a European leader in the earnings on demand sector’. Hastee says Typs not only shares both its values and mission but is also a complementary organisation that provides a foothold in Southern Europe.

The British Business Bank has approved GC Business Finance, for accreditation under the Bounce Bank Loan Scheme (BBLS). GC Business Finance will provide loans of up to £50,000 to small and micro businesses from the Greater Manchester region.

Payments issuer processor Global Processing Services (GPS) is joining a cohort of London Export Champions. Selected by the Department for International Trade, the Champions are a group of London-based business leaders who have successfully sold overseas. GPS is also participating in an independent strategic review of the UK fintech sector by the HM Treasury.

JAGGAER

JAGGAER

Independent spend management firm JAGGAER has toasted 25 years of business with refreshed branding, plus the launch of a new website. It is also hosting a series of webinars to support business in the Middle East.

Emirates NBD, a bank in the Middle East, North Africa and Turkey, has won awards for its retail banking leadership. The bank was recognised in the Asian Banker Excellence in Retail Financial Services 2020 international awards.

Finally, Crypto.com has become a member of the International Digital Asset Exchange Association (IDAXA). Members of IDAXA also include Singapore Cryptocurrency and Blockchain Industry Association, Blockchain Australia, Hong Kong Blockchain Association and Switzerland Crypto.

https://thefintechtimes.com/news-round-up-17-november-2020/