Tag: Challenger bank

MoneyLion, a mobile banking platform, has secured $160m in funding to support the expansion across the US.

Australians just got more banking options with 86 400 getting a licence to operate as an authorized deposit-taking institution in the country. In other words, it now has permission to operate as a bank in Oz.

N26, a German challenger bank, has increased its Series D round to $470m, boosting its valuation to $3.5bn.

Venture capital-backed digital bank Monzo has seen its valuation double to about £2bn in the wake of a new funding round.

Penta, a digital banking platform for businesses, has collected €8m in its new funding round led by HV Holtzbrinck Ventures.

German Federal Financial Supervisory Authority (BaFin) has ordered challenger bank N26 to improve its prevention of money laundering and terrorist financing.

Anne Boden, founder and CEO of Starling Bank, believes the challenger bank will break even by the end of next year as the company has doubled its users since 2018.

UK-based challenger bank Monzo has raised £85m in its newest round of funding, ahead of launching a new crowdfunding campaign.

German business bank account Penta has netted ?7m in a new investment round, to support expansion of its team.

Brazil-based challenger bank Nubank has reportedly received a $180m investment from Chinese backer Tencent.