Here are the most read news stories from our daily newsletter today:...
News Roundup
This page contains an archive of the Global Newsletter summaries and the weekly fintech news roundups.
Every day the Fintech Nexus news team scours the globe for the most important stories of the day to include in our daily newsletter.
Then every Saturday we bring you our weekly news roundup of the top 10 fintech stories of the week with commentary from Peter Renton.
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Big fintech news this week came from Apple, Visa, Blockchain.com, Cross River, Consumer Financial Protection Bureau, Bilt Rewards, Wells Fargo, Alviere, Coinbase, Axie Infinity and more.
UK digital bank Monzo is nearing completion of a new funding round that will add 20 to 30 million British pounds in capital for the firm; the investment round is being led by Thrive Capital; sources also report that the firm is planning an equity crowdfunding campaign later in the year; Monzo is led by CEO Tom Blomfield and the firm was granted a UK banking license in August 2016; it currently has 100,000 users with activity driven by pre-paid Mastercards and mobile applications; the firm recently declined an acquisition offer from an incumbent bank and says it still has a lot it plans to accomplish. Source
Borrowell Launches First Free AI-Powered Credit Coaching Tool in Canada Targeting stressed...
This is a guest post from Eric Rosenberg at Narrow Bridge Finance...
A recent report by Startupbootcamp and PwC points out that startup trends in 2016 moved towards artificial intelligence (AI) and machine learning companies compared to blockchain; the data shows that 16% of applications to Startupbootcamp are from artificial intelligence and machine learning companies, whereas blockchain applications account for only 6%; blockchain was certainly a bigger buzzword in 2016 but one reason that AI and machine learning has more startups is because companies like Google, Facebook and Amazon have made significant investments in the technology; additionally, the report points out that as blockchain becomes more industrialized more startups will use the technology instead of being a blockchain startup. Source
WeChat Pay will begin rolling out a credit rating for their 600...
Biz2Credit has announced a new partnership with Tradeshift for expanded small business access to capital; Tradeshift is a cloud-based business procurement network supporting over 800,000 businesses; companies that use Tradeshift will gain access to the Biz2Credit platform for financing options; Biz2Credit says the partnership will help Tradeshift's clients secure financing more quickly and easily. Source
During the week I share the latest marketplace lending news on Twitter as it...
Online consumer lender 4finance has raised $325 million from an issuance of bonds; the bonds are senior unsecured, five-year fixed rate notes issued with a 10.75% yield at par; the firm will use the proceeds for debt restructuring, business development and corporate management. Source