WealthTech

The UK’s Financial Conduct Authority has published proposals to bolster its financial promotion rules for high-risk investments in a bid to help retail investors make better decisions.

Singaporean payments company FOMO Pay has partnered with buy now pay later (BNPL) firm Atome to expand the use of BNPL in Asia.

FypMoney App has reportedly collected $2m in a seed funding round, which will help it deepen its product development.

Social savings platform CollegeBacker, which has rebranded to Backer, has scored $8.4m in a funding round, which was led by Crosslink Capital.

Greek FinTech Viva Wallet has raised $80m in financing to bolster its loans and instant payment services.

Teen payment and banking firm Step raised $100m in Series C funding led by General Catalyst.

In the wake of COVID-19, research suggests FinTech companies are experiencing a strong growth spurt giving them the opportunity to innovate like never before.

Atlanta-based Greenlight, which helps children learn to save with its app and debit card products, secured $260m in a Series D funding round led by Andreessen Horowitz, nearly doubling its valuation in six months.

Venture capital firm Andreessen Horowitz led a $220m investment in Current which tripled its valuation giving it the unicorn status.

A new study by Juniper Research has highlighted it expects over $20bn in ecommerce losses this year due to online payment fraud – a rise of 18% compared to 2020.