Deals – FinTech Ranking https://fintechranking.com All You Should Know About Fintech Wed, 24 May 2023 02:43:47 +0000 en-US hourly 1 https://wordpress.org/?v=5.3.15 https://fintechranking.com/wp-content/uploads/2020/03/ftr_favicon2.ico Deals – FinTech Ranking https://fintechranking.com 32 32 96937361 South African challenger bank TymeBank raises $77.8M https://fintechranking.com/2023/05/23/south-african-challenger-bank-tymebank-raises-77-8m/?utm_source=rss&utm_medium=rss&utm_campaign=south-african-challenger-bank-tymebank-raises-77-8m Wed, 24 May 2023 02:43:43 +0000 http://fintechranking.com/?p=27091 South African digital banking platform TymeBank has raised $77.8 million in a pre-Series C round led by

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]]> South African digital banking platform TymeBank has raised $77.8 million in a pre-Series C round led by African-focused growth-stage fund Norrsken22 and Swiss global impact investment firm Blue Earth Capital. TymeBank expects to close its Series C round later this year, it said in a statement.

Tencent, the lead investor in the fintech’s $70 million Series B extension raise in December 2021, participated in this pre-Series C round and increased its stake to become TymeBank’s third-largest shareholder. TymeBank is majority owned by Patrice Motsepe’s African Rainbow Capital (ARC); the South African fintech is backed by other investors, including the British International Investment (BII), Apis Growth Fund II, JG Summit Holdings (JG Summit), African Fig Tree (AFT) and the Ethos AI Fund.

Read more: TechCrunch

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]]> 27091 Ripple Buys Crypto Custody Firm Metaco for $250M https://fintechranking.com/2023/05/17/ripple-buys-crypto-custody-firm-metaco-for-250m/?utm_source=rss&utm_medium=rss&utm_campaign=ripple-buys-crypto-custody-firm-metaco-for-250m Thu, 18 May 2023 03:34:00 +0000 http://fintechranking.com/?p=27036 Blockchain firm Ripple has acquired Swiss-based crypto custody provider Metaco for $250 million, the company

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]]> Blockchain firm Ripple has acquired Swiss-based crypto custody provider Metaco for $250 million, the company said in a statement on Wednesday.

The purchase will allow Ripple to expand its offerings by incorporating the technology to custody, issue, and settle tokenized assets. Metaco offers customers crucial and secure custody infrastructure, allowing institutions to scale new business models in the crypto economy.

Read more: CoinDesk

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]]> 27036 Petal raises $35M, spins off data unit ‘to bring credit scores into the 21st century’ https://fintechranking.com/2023/05/10/petal-raises-35m-spins-off-data-unit-to-bring-credit-scores-into-the-21st-century/?utm_source=rss&utm_medium=rss&utm_campaign=petal-raises-35m-spins-off-data-unit-to-bring-credit-scores-into-the-21st-century Wed, 10 May 2023 21:49:00 +0000 http://fintechranking.com/?p=26986 Petal, which offers three Visa credit card products aimed at underserved consumers, has said its

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]]> Petal, which offers three Visa credit card products aimed at underserved consumers, has said its goal is to help people “build credit, not debt.” It does this by using cash flow underwriting to help assess applicants’ creditworthiness — and also using credit scores when they’re available. To be clear, Petal is not itself a bank. Its cards are issued by WebBank, a member of the FDIC, but they’re Petal branded and the startup manages servicing for the cards.

Today, the company is announcing it has raised an additional $35 million in what CEO and co-founder Jason Rosen is describing as “strategic financing.” Part of that money will go toward spinning out the Prism Data unit of its business into an independent company. Rosen will serve as CEO of that new entity as well, which has about 10 employees, while Petal has about 140.

Read more: TechCrunch

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]]> 26986 Greenwood acquires neobank Kinly https://fintechranking.com/2023/05/02/greenwood-acquires-neobank-kinly/?utm_source=rss&utm_medium=rss&utm_campaign=greenwood-acquires-neobank-kinly Tue, 02 May 2023 19:59:00 +0000 http://fintechranking.com/?p=26958 Greenwood, a fintech that provides banking services to Black and Latinx communities, acquired fellow affinity neobank

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]]> Greenwood, a fintech that provides banking services to Black and Latinx communities, acquired fellow affinity neobank Kinly for an undisclosed amount, Greenwood announced Tuesday.

The acquisition merges two neobanks that share a similar mission. Both fintechs launched in 2020 with the goal to help underserved communities build generational wealth. 

Read more: Banking Dive

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]]> 26958 Tandem Bank acquires money-sharing app Loop Money https://fintechranking.com/2023/04/05/tandem-bank-acquires-money-sharing-app-loop-money/?utm_source=rss&utm_medium=rss&utm_campaign=tandem-bank-acquires-money-sharing-app-loop-money Wed, 05 Apr 2023 23:36:00 +0000 http://fintechranking.com/?p=26711 Tandem Bank has made its first acquisition of 2023, AltFi can exclusively reveal, with the takeover of the

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]]> Tandem Bank has made its first acquisition of 2023, AltFi can exclusively reveal, with the takeover of the recently-launched money-sharing app Loop Money.

Loop is a social network aimed at helping friends and family to lend and borrow money with each other, and using open banking to enable seamless payments.

The app starts with a bill-splitting concept similar to Splitwise, but then develops it with the addition of an ‘overdraft’ that you can access by inviting your contacts to lend you the money.

Read more: AltFi

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]]> 26711 Acorns Acquires British Fintech GoHenry https://fintechranking.com/2023/04/03/acorns-acquires-british-fintech-gohenry/?utm_source=rss&utm_medium=rss&utm_campaign=acorns-acquires-british-fintech-gohenry Mon, 03 Apr 2023 19:22:00 +0000 http://fintechranking.com/?p=26700 Acorns, an online investment platform providing access to securities, crypto, and banking services, has acquired UK-based

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]]> Acorns, an online investment platform providing access to securities, crypto, and banking services, has acquired UK-based Fintech GoHenry.

GoHenry is a digital investment platform that targets younger investors, aiming to get them started on securing their financial future early in life.

Read more: Crowdfund Insider

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]]> 26700 First Citizens is acquiring $72B in deposits and loans from Silicon Valley Bridge Bank https://fintechranking.com/2023/03/27/first-citizens-is-acquiring-72b-in-deposits-and-loans-from-silicon-valley-bridge-bank/?utm_source=rss&utm_medium=rss&utm_campaign=first-citizens-is-acquiring-72b-in-deposits-and-loans-from-silicon-valley-bridge-bank Mon, 27 Mar 2023 23:05:30 +0000 http://fintechranking.com/?p=26669 First Citizens has agreed to buy a $72 billion chunk of Silicon Valley Bridge Bank, the California

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]]> First Citizens has agreed to buy a $72 billion chunk of Silicon Valley Bridge Bank, the California lender formerly known as Silicon Valley Bank that was taken over by the FDIC two weeks ago after depositors, in a crisis of confidence, made a run on it. SVB served as lifeblood to thousands of startups before its collapse, the biggest in U.S. banking in years, sent shockwaves through the financial sector.

Seventeen former branches of Silicon Valley Bank will open as First Citizens Bank later today, the FDIC said.

Read more: TechCrunch

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]]> 26669 FDIC sells Signature Bank deposits to Flagstar, crypto not included https://fintechranking.com/2023/03/20/fdic-sells-signature-bank-deposits-to-flagstar-crypto-not-included/?utm_source=rss&utm_medium=rss&utm_campaign=fdic-sells-signature-bank-deposits-to-flagstar-crypto-not-included Mon, 20 Mar 2023 17:39:00 +0000 http://fintechranking.com/?p=26644 Only a week after its collapse, Signature Bank’s deposits and loans are set to be

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]]> Only a week after its collapse, Signature Bank’s deposits and loans are set to be sold to Flagstar Bank, a subsidiary of New York Community Bancorp — but crypto-related deposits will not be part of the deal.

The United States Federal Deposit Insurance Corporation announced the agreement on March 19, which will see $38.4 billion worth of non-cryptocurrency-related deposits and $12.9 billion in loans taken over by the Michigan-based bank under a “purchase and assumption agreement.”

Read more: Cointelegraph

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]]> 26644 Stripe slashes valuation to $50 billion in new $6.5 billion funding round https://fintechranking.com/2023/03/15/stripe-slashes-valuation-to-50-billion-in-new-6-5-billion-funding-round/?utm_source=rss&utm_medium=rss&utm_campaign=stripe-slashes-valuation-to-50-billion-in-new-6-5-billion-funding-round Thu, 16 Mar 2023 01:55:00 +0000 http://fintechranking.com/?p=26634 Payment processor Stripe raised $6.5 billion at a $50 billion valuation, the company said Wednesday, a

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]]> Payment processor Stripe raised $6.5 billion at a $50 billion valuation, the company said Wednesday, a sharp discount from its record valuation of $95 billion in 2021.

“Stripe does not need this capital to run its business,” the company said in a press release. The cash raise — with contributions from Andreessen Horowitz, Founders Fund, Goldman Sachs, and Temasek — will instead go towards providing liquidity to “current and former employees” and tax obligations associated with equity awards.

Read more: CNBC

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]]> 26634 KuCoin and Circle back Chinese yuan-pegged stablecoin in $10M round https://fintechranking.com/2023/03/15/kucoin-and-circle-back-chinese-yuan-pegged-stablecoin-in-10m-round/?utm_source=rss&utm_medium=rss&utm_campaign=kucoin-and-circle-back-chinese-yuan-pegged-stablecoin-in-10m-round Wed, 15 Mar 2023 23:37:00 +0000 http://fintechranking.com/?p=26671 Circle Ventures, the venture arm of the USDC issuer Circle, has invested in an offshore

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]]> Circle Ventures, the venture arm of the USDC issuer Circle, has invested in an offshore Chinese yuan-backed stablecoin project, CNHC.

CNHC’s latest funding round totals $10 million and was led by KuCoin Ventures, the investment arm of the fourth biggest crypto exchange in the world. IDG Capital and Circle Ventures were participating investors.

Read more: TechCrunch

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