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Varo Bank has become the latest fintech player to make job cuts, axing 75 positions as it looks to cut costs in the face of worsening economic conditions.
TomoCredit, the US startup behind a credit card designed to help first-time borrowers build a credit history, has raised $22 million in a Series B funding round joined by Morgan Stanley's Next Level Fund and Mastercard.
GoldHouse, Asian Hustle network and Hyphen Capital also joined the round, while Silicon Valley Bank has provided $100 million in debt financing.
Female, immigrant-founded TomoCredit is targeting the 40 million credit-invisible immigrants and international students with no credit history in the US.
Qonto, an online payment solution targeted at freelancers and SMEs, has announced its intention to acquire German fintech, Penta. The deal is expected to close within the next few weeks.
Qonto aims to combine its wider reach and core banking system with Penta’s knowledge of the German market. Both companies have ambitions to create higher-value products for their users and expand their markets.
PayMate India Limited (“PayMate”), a leading B2B payments and services provider that digitizes, automates, and streamlines business-to-business (B2B) payments in supply chains, has integrated the capability to make utility bill payments using commercial credit cards as a new feature on its platform.
The insurtechs Next and Thimble recently announced layoffs of part of their workforces, stating that the need to focus on profitability drove their decisions, per the Insurance Journal. Next CEO and co-founder Gary Goldstein also cited worsening economic conditions as a contributing factor to his firm’s reduction in force.
Dual currency investment products are not new. They are commonly seen in traditional investment services combining financial instruments like derivatives and non-derivatives. However, the Europe-based FinTech platform YouHodler is taking an old wealth generation approach and reimagining it for the burgeoning industry of cryptocurrency.
Mastercard today named Vivian Zhou as Corporate Treasurer, effective August 15, 2022. She succeeds Alfred Kibe, who will assume the role of CFO of Mastercard's North America region.
Vantage, the multi-asset trading platform for retail and professional traders, today announces the launch of i
OutSystems, a global leader in high-performance application development, today announced it has become an official member of the SAP® PartnerEdge® program, with a Build focus, underscoring its commitment to providing high-value low-code to businesses using SAP® solutions.
