WealthTech

Copper Banking, which is aimed at helping teenagers improve their financial literacy, has closed a $13.3m seed funding round.

Payments operation software platform Modern Treasury has raised $85m in a Series C funding round led by Altimeter Capital.

The Hong Kong Monetary Authority (HKMA) has begun the first steps of exploring a central bank digital currency (CBDC) with the release of a technical whitepaper.

Investing social platform Commonstock has secured $25m from a Series A funding round led by Coatue.

Swedish credit refinancing firm Anyfin has secured €44.8m in a funding round led by New York-based FinTech Collective.

QisstPay, a buy now, pay later (BNPL) company from Pakistan has raised $15m across its seed and pre-seed funding round to expand its team and services.

Indonesian investment app Ajaib has reportedly become the country’s fastest unicorn, reaching the milestone in just two and a half years.

Wells Fargo managing director Mike Mayo has claimed he expects automation to eliminate over 100,000 banking jobs over the next five years.

Challenger bank Fair has closed a $20m investment round and announced that it will open early bird membership enrolment in March as it eyes April launch.

A report published by Temenos has found four in five bankers believe financial institutions will look to discern themselves on customer experience rather than products or services.