Souteast Asian payments platform Xendit has closed on a $300 million funding round, taking total capital raised by the firm to $538 million since its inception in 2016. Coatue and Insight Partners co-led the round with additional investment from Accel, Tiger Global, Kleiner Perkins, EV Growth, Amasia, Intudo, and Justin Kan’s Goat Capital. Over the...
This story is part of a Recode series about Big Tech and antitrust. Over the last several weeks, we’ve covered what’s happening with Apple, Amazon, Microsoft, Meta, and Google. There’s a new Big Tech antitrust bill in town, and this one is especially painful for Google. A group of lawmakers led by Sen. Mike Lee...
Turmoil in tech stocks appears to be spilling over to the fintech market, with reports that BNPL giant Klarna is looking to raisee fresh funds at a 30% discount to its previously sky-high $46 billion valuation. The payments company could ask new and existing backers for as much as $1 billion in a deal that...
CCG’s second annual US banking study titled ‘The Banking Battleground 2022: Finding the opportunities,’ has found that US bank executives are showing strong interest in pursuing and offering Banking-as-a-Service (BaaS) options. Surveying 127 C-level banking executives across the US, the survey analysed progress across the three key areas of business trends and priorities, technology and...
Deutsche Bank has partnered with fintech firm FinLync to utilise pre-built API integrations and SAP-embedded treasury applications to allow for connection between corporate teams, in real-time. Cutting down on IT efforts and time spent by treasurers trying to connect to Deutsche Bank APIs, FinLync can incorporate “up-to-the-moment” bank data into any ERP platform or TMS....
To celebrate reaching 150 million active users, BNPL giant Klarna has launched ‘Dream Deal Days’, a three-day event offering consumers exclusive deals and product drops with some of the world’s biggest retail brands. Taking place across 19 markets globally between 27 and 29 May, the event will offer consumers discounts on purchases found on wishlists...
Commonwealth Bank of Australia has put on hold plans to offer customers cryptocurrency through its banking app, amid widespread volatility in the crypto markets. The bank said in November that it had partnered with crypto exchange and custodian, Gemini, and blockchain analysis firm, Chainalysis to design a service that will be offered to customers through...
European broker FlatexDegiro is to provide customers in Germany and Austria with access to trading in major cryptocurrencies through their flatex accounts by the end of the third quarter of 2022. Clients will initially be able to trade bitcoin, ethereum, litecoin, ripple, Bitcoin Cash, chainlink and uniswap on Boerse Stutgart’s Bison retail platform, with access...
Banking as a Service (BaaS) and Banking as a Platform (BaaP) were key themes throughout both days of the Temenos Community Forum (TCF). These topics were also hit on during a session about how to scale your business, led by Ross Mallace – speakers executive vice president, global head of SaaS and partner ecosystem at...
The European Commission is seeking market feedback on open finance rules and amendments to the PSD2 Directive to address the arrival of Big Tech, fintechs and cryptoassets. The second Payment Service Directive was adopted in 2015, with most of the rules implemented by January 2018. In the interim, the payments sector has been buffeted by...