Technology Updates

While Covid-19 continues to haunt us, the FinTech industry continues to rake in millions of dollars. Neobanks and cybersecurity companies were the top-scoring sectors to raise investment among the 42 rounds that FinTech Global reported on last week.

Indonesia-based crypto-assets exchange company Pintu banked $6m to support its mission to drive industry adoption.

With Trade Republic netting $900m and four startups earning the horn among 46 rounds, last week proved to be a great week in terms of FinTech investment, particularly for stock trading apps enterprises.

FinTech banking app that uses crypto on its backend Eco unveiled that a slew of celebrity and athlete investors had participated in the $26m round that took place in March this year.

While the value of cryptocurrencies continued to grow astronomically, it came crashing down to earth after Tesla’s sudden u-turn from using bitcoin as payment. However, experts think this will hardly undermine its potential as mainstream investments and payment means.

Data-driven private credit marketplace Finitive has secured an investment from Sterling Bancorp.

From crypto startups raising millions despite Elon Musk pulling out of the bitcoin frenzy to subscription-based firms capitalising on the Covid-19 crisis, this is what you can learn from the 40 FinTech funding rounds of last week.

PolySign, which provides financial institutions with blockchain-enabled infrastructure, has closed its Series B funding round on $53m.

Mexico-based crypto exchange Bitso became the first LatAm unicorn after getting a valuation of $2.2bn on its $250m Series C funding round.

Cryptocurrency platform SwissBorg has partnered with payments company OpenPayd to help the former embed a full suite of financial services into its user experience.