ClearBank and Tide team receive £60m grant to support UK SMES

ClearBank and Tide have formed a partnership to help UK SMEs recover from the coronavirus crisis.

Commerzbank cuts 4,300 jobs in company revamp that will see it “invest significantly in...

Frankfurt-based Commerzbank will reduce its workforce by 4,300 people and close 200 branches amidst struggles with falling revenues.

MasterCard launches payments service for Chinese students

MasterCard is making it easier for Chinese users to pay for tuition and other costs in the US through a new partnership with online payments service Plastiq.

Nordea launches FinTech fund, invests in Betalo

Nordea Bank is set to launch a venture capital fund to invest in FinTech startups, having already backed mobile money company Betalo.

First Data acquires payment processor CardConnect for $750m

Commerce tech and solutions firm First Data is acquiring payments processor CardConnect for approximately $750m.

Ghana aims to topple Kenya as Africa’s most digitalised economy

The vice-president of Ghana has announced an ambitious programme to digitalise the country’s economy.

US Justice Department investigates Visa over debit card practices

Visa is in legal hot water as it faces a regulatory investigation by the US Department of Justice (DOJ) over concerns of whether it is using anticompetitive practices in the debit card market.

Forter cements unicorn status on the back of $125m Series E round

Fraud fighting RegTech Forter has raised $125m in Series E funding and has achieved a $1.3bn valuation in the process.

Surf Bank Brazil picks Paygilant to strengthen its fraud prevention capabilities

Mobile payments fraud-prevention and authentication provider Paygilant has been tapped by digital bank Surf Bank Brazil to help it fight fraud.

AliPay and WeChat granted Hong Kong digital wallet licenses

Two of China’s biggest mobile payments players AliPay and WeChat, have won approval to operate digital wallets in Hong Kong. It’s seen as a major step towards international expansion.

News Stories

Coverflex said to raise €5m in its pre-seed round

Coverflex, which helps companies offer compensation to employees, has reportedly collected €5m in its pre-seed funding round.

Fintern scores £32m in a mix of debt and equity

Fintern, an online loans platform, has scored £32m in a mixture of equity and debt funding.

Cado Security scores $10m in its Series A, hot off the heels of its...

Cloud-native digital forensics platform Cado Security has scored $10m in its Series A round, which will help it support the “significant demand” for its platform.

N26 enters the insurance space with launch of new product

German challenger bank N26 has entered the insurance space, with customers now able to buy cover, manage plans and initiate claims.

Lloyd’s Lab names the 11 InsurTechs in its latest accelerator cohort

Lloyd’s Lab has announced the 11 companies it has selected for its sixth accelerator programme.

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