Nu Colombia, a subsidiary of Nubank in the country, announced that the Financial Superintendence of Colombia (SFC) has officially approved its application to operate as a financing company. This achievement not only marks a significant milestone for Nu Colombia but also paves the way for the expansion of its product portfolio into savings with the upcoming launch of Cuenta Nu, a pivotal move for its long-term vision for the country. “Obtaining this license is the result of months of hard teamwork and represents a fundamental step in our journey in Colombia, as it enables the right regulatory framework to launch…
Author: Fintech News America
Canapi Ventures, a fintech venture capital fund backed by nearly 70 financial institutions and strategic investors across the United States, announced the raise of a $750 million Fund II. Canapi is backed by the Canapi Alliance, the fund’s network of strategic banks and financial partners institutions across North America, as well as institutional investors. This latest raise brings Canapi’s total assets under management to over $1.4B and will allow the Fund to continue to support the most innovative entrepreneurs and companies looking to create a sounder, more inclusive and equitable financial ecosystem. Core to Canapi’s value proposition is the delivery…
Canadian fintech firm Nuvei has announced a partnership with tech giant Microsoft to improve payment experiences for customers globally. This collaboration aims to introduce Nuvei’s payments technology to Microsoft’s product lines, including Office and Xbox, initially focusing on markets in the Middle East and Africa. The integration of Nuvei’s technology is expected to streamline Microsoft’s checkout processes, offering better payment options for recurring billing and individual transactions. Microsoft seeks to leverage Nuvei’s understanding of local market needs, enhancing customer payment experiences. This includes optimised authorisation rates, effective risk management to reduce false declines, and the latter’s ability to offer all…
Nasdaq announced the launch of a new technology that securely digitizes the issuance, settlement, and custody of carbon credits. It will be provided to market infrastructures, registry platforms, and other service providers globally. The service will support the development and institutionalization of global carbon markets. Despite being a relatively young market the carbon credit operating model is characterized by bilateral trading and a heavy reliance on manual interaction, providing limited ability to scale as the market develops. This inflexibility has also led to an absence of standardization – where credit data can be categorized and integrated into existing systems –…
Bullish, a new regulated, institutional digital assets exchange led by Tom Farley, a former NYSE president, announced that it has acquired CoinDesk, from Digital Currency Group (DCG). Bullish plans to invest in CoinDesk’s global expansion and the growth of the media, events, and indexing businesses. CoinDesk will continue to be led by Kevin Worth and the existing management team and operate as an independent subsidiary within Bullish. Terms of the transaction were not disclosed. “With its acclaimed editorial coverage, premier events and market-leading data and indices, CoinDesk continues to shape the global crypto and blockchain ecosystem,” said Tom Farley, CEO…
Volante Technologies, a global leader in cloud payments modernization, announced that it has secured $66 million in debt and equity financing in an investment round led by Sixth Street Growth. Wavecrest Growth Partners and Wells Fargo Strategic Capital also participated in the round. This latest round follows earlier funding milestones, including repeat participation from Wavecrest and Wells Fargo Strategic Capital and investment from BNY Mellon, Citi, Poste Italiane, and Visa Ventures, bringing the total outside investment in the company to $116 million. Vijay Oddiraju, CEO, Volante Technologies, commented, “We welcome Sixth Street Growth and its deep expertise supporting the growth…
Pay with Bank transfer, powered by American Express (“PwBt”), announces it has selected Nuvei, the Canadian fintech company, as its first acquirer authorised to promote and sell PwBt’s Open Banking-enabled payment method. The innovative payment method enables consumers to complete transactions seamlessly from their bank accounts, without having to enter card details or complete additional authentication checks. For merchants, PwBt delivers a frictionless payment where funds are reconciled instantly, with attractive processing fees. Nuvei will be promoting PwBt to both existing and prospective UK merchants, supporting them with the integration of the Open Banking payment method into their ecommerce platforms.…
QI Tech, the first Direct Credit Company (SCD) approved by the Brazilian Central Bank, announced an investment of US$200 million (R$1 billion) in a Series B round led by General Atlantic, with participation from existing investor Across Capital, which is doubling its initial investment in the company. QI Tech plans to leverage the new capital to further expand its leading product position and explore strategic M&A opportunities. Founded in 2018 by Pedro Mac Dowell, Marcelo Bentivoglio, and Marcelo Buosi, QI Tech is transforming the credit market by simplifying the loan process, with a mission to decentralize credit away from major…
Trulioo, a global identity verification platform, announced that J.P. Morgan Payments has selected the Trulioo global identity platform to help J.P. Morgan Payments clients combat fraud and other financial crimes. As part of the agreement, J.P. Morgan Payments will use Trulioo services for global person and business verification to support a simplified, frictionless payments experience. “Trulioo has the trusted authentication and verification experience we want to offer clients and additional layers of protection from fraud during the onboarding experience and beyond” said Ryan Schmiedl, Managing Director – Global Head of Trust & Safety for J.P. Morgan Payments. As a leading…
Nuvei Corporation, the Canadian fintech company, announces that it has been selected by Curve, the fast-growing financial super app that consolidates your cards into one smart card, to provide card acquiring and alternative payment methods (APMs) for consumer transfer of funds to and from their Curve digital wallet. Nuvei’s agile, customizable, full stack payments technology enables the fintech app and card issuer to accept VISA and Mastercard transactions. Card payments are optimized through Nuvei’s smart routing engine to maximize card payment acceptance and reduce operating costs. All the relevant APMs in each market Curve operates will be available to Curve…
J.P. Morgan Payments’ Pay-by-bank solution, which provides billers with the ability to allow their customers to pay bills directly from their bank account, is now live. Leveraging Mastercard’s open banking technology to enhance J.P. Morgan Payments’ ACH capabilities, Pay-by-bank offers payment choice and provides a simple, secure and frictionless experience for billers to offer to their customers. Verizon is planning to pilot J.P. Morgan Payments’ Pay-by-bank offering with U.S. customers in the coming months. “This innovative payment option aligns with our commitment to providing our customers with convenient and secure payment choices. We believe that Pay-by-bank will enhance the overall…
Hong Kong based Airwallex, announced it has signed a definitive agreement to acquire MexPago, a Mexico-based payment service provider and an Institution of Electronic Payment Funds (IFPE) license-holder. The transaction is subject to regulatory approvals and customary closing conditions. This acquisition will enable Airwallex to expand its financial infrastructure into Latin America and advance its mission to empower and support businesses to grow and operate across borders. It is an important part of Airwallex’s broader growth strategy in the Americas, where the company has seen more than 460% YOY revenue growth. Luis Castillejos Ordaz, CEO of MexPago, said, “Airwallex’s ability…
Prove Identity, a digital identity solutions provider, has announced a $40 million funding round led by MassMutual Ventures and Capital One Ventures. The new funding, supported by over 40% new international customer growth year to date, reinforces Prove’s position as the global leader in the digital identity verification and authentication market. The funds will be used to launch new commerce enablement and fraud-fighting use cases, continue Prove’s global expansion, and address the evolving threats faced by all public and private institutions operating in the digital economy. “As our daily lives become increasingly digital, Prove’s mission is to be the global…
Fintech has emerged into the dominant segment in the Colombian startup ecosystem, making up more than 15% of all startups in the country, a new report by StartupBlink, KPMG Colombia and other industry stakeholders, show. The Colombia Tech Report 2022-2023, released on September 28, explores the country’s booming tech sector, startup funding activity and emerging trends. In particular, the report highlights the rise to prominence of fintech in the Colombian startup ecosystem. The sector is now the biggest startup category in the Latin American country, recording 203 startups in early 2023. Not only is fintech the most prevalent startup category,…
Panama, a key financial hub in the Americas, has witnessed a growth in fintech development over the past years. Although the ecosystem remains limited compared with regional leaders such as Brazil and Mexico, Panama has nevertheless seen several local players rise to prominence, with segments including digital payments, remittances and neobanking currently standing as the most developed categories. Of the reported 16 fintech ventures in the country, we’ve made a selection of seven of Panama’s most renowned and fastest-growing fintech companies to watch closely. For this list, we’ve selected startups headquartered in the country, showcasing their latest achievements and growth.…
Albo, a neobank in Mexico, announced the successful closure of its recent US$40 million growth funding round. This follows closely on the heels of albo’s strategic acquisition of the technology firm delt.ai for US$20 million. Despite the challenges posed by the global financial landscape, albo’s exceptional performance positions the company for profitability in 2024. United States-based Morpheus Ventures led the financing, which included significant participation from previous investors such as US-based Valar Ventures and Mexico-based Nazca Ventures. The fund raise marks a pivotal milestone in albo’s journey. “We are very impressed with albo’s performance in a challenging environment. albo delivered…
North America is home to one of the world’s largest and most developed fintech ecosystems. The US, with its dynamics hubs of New York City and Silicon Valley, is a driving force in the sector. Canada, meanwhile, is witnessing its city of Toronto emerging as a prominent tech powerhouse. The growth of fintech in North America is being enabled by the region’s ability to attract vast amounts of investment, a feature that has allowed it to consistently account for the largest share of fintech investment globally. The region also boasts a rich environment for tech-driven innovation that’s enabled for the…
After 18 months of decline, the US venture capital (VC) investment landscape is showing signs of stabilization and returning to 2019-2020 levels, new data released by Silicon Valley Bank (SVB) show. In H2 2022 and H1 2023, VC investments in US companies totaled US$182 billion, the H2 2023 State of the Markets report says, reaching sums witnessed in 2019 and 2020. Although SVB notes that there have been predictions of drops in fundraising based on key indicators such as inverted yield curve, falling corporate profits, increased down rounds and declining revenue growth among startups, the bank is confident in the…
Jumio, a provider of identity verification solutions, has been recognized as a Representative Vendor in the latest Gartner Market Guide for Identity Verification. This is the fifth consecutive year that Jumio has received this recognition. Vendors are selected for the Market Guide based on a number of criteria, including their capabilities and their representation of particular market segments or geographic regions among others. The Market Guide notes, “The purpose of identity verification is to establish confidence in the identity of a user during a digital interaction. As a result, across all geographies and industries, the use cases in which identity…
Paypal is increasing access to digital currencies by simplifying how wallets, dApps, and NFT marketplaces can enable their customers to buy and sell supported crypto in the U.S. (subject to applicable state law) through an integration with PayPal On and Off Ramps. Once integrated, web3 merchants can help grow their user base by connecting to PayPal’s fast and seamless payments experience trusted by millions, while leveraging PayPal’s robust security controls and tools for fraud management, chargebacks and disputes. PayPal previously launched On Ramps to enable U.S. consumers to directly buy crypto with PayPal through integrations with Metamask and Ledger – with more coming soon.…