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Investments & Exits

Bank of America to Deposit Another 100 Million to MDIs

World Fintech News October 4, 2022 0

Representatives from the Bank of America have issued a statement about their scheme to transfer an increased 100 million USD into minority-focused banks. The initiative will double Bank of America’s previous commitment to deposit 100 million USD in MDIs. Minority Depository Institutions

Investments & Exits

Juno Raises $18 Million in Funding

World Fintech News October 4, 2022

Juno, the digital banking firm, raised 18 million dollars in A series funding to expand its operations and range of products. The funding round was led by offshore private equity, the Mac Private Equity, owned by Mac McClafferty. They included well-known crypto sectors which belong to Caribbean investors of McClafferty’s consortium. The crypto digital banking […]

Investments & Exits

BillDesk Deal Falls Through: Prosus Cancels India’s largest M&A acquisition.

World Fintech News October 4, 2022

Naspers-owned Prosus has abandoned its $4.7 billion deal for BillDesk, India’s largest payments aggregator. The process was scheduled for 45 days, but the two companies have decided to call it off. Prosus has announced that the proposed transaction between the two companies will not happen as some conditions were not met by 30 September 2022. […]

Investments & Exits

4 New Fintech Firms Get the Nod to Operate Under SAMA Regulatory Sandbox

World Fintech News September 30, 2022 0

In the latest announcement, SAMA (Saudi Central Bank) permitted a few of the fintech firms to operate under its regulatory sandbox. Spare Arabian Financial Company, Wally Global Arabia, Istishraf Al-Bayanat for Financial Technology, and Sanam Aliliddikhar for Information Technology were the first four to enter, with a target to bring in 42 companies. Out of […]

Investments & Exits

SEBI Warns Fintechs That Restrict Client Exits

World Fintech News September 28, 2022 0

On Wednesday, SEBI Chairperson Madhabi Puri Buch warned Fintechs about imposing exit barriers on their clients. She said that the Securities and Exchange Board of India does not support fintech companies that put obstacles in the way of clients leaving their services. Buch referred to it as the “Abhimanyu Complex” and further added: “If a […]

Investments & Exits

Gemini and Betterment Partnership–Offering Investors a Diversified Crypto Portfolio

World Fintech News September 27, 2022 0

Gemini announced partnering with the most extensive digital advisor in investment in the U.S., Betterment. Gemini wanted to start by providing crypto portfolios of investment to users for Betterment offerings and retail. Betterment has greater than 7,30,000 users across its offerings and business. The upcoming crypto offering helps users to invest in a well-curated crypto

Investments & Exits

Abu Dhabi’s ADQ to Invest $200 Million in Tech Startups

World Fintech News September 26, 2022 0

Further Ventures, anchored by Abu Dhabi’s ADQ, is planning to financially support tech startups like fintech, supply chain, and digital assets. A statement issued by ADQ said that Further Ventures would collaborate with its founders to provide capital from preseed to growth design, engineering, design, market access, and regulatory support to teams who want to […]

Investments & Exits

Fintech Startup Adds Visa to Its Cap Table

World Fintech News September 26, 2022

Bangalore-based M2P, a fintech startup, invested 2.7 million dollars in a C-1 round from a US-based firm. M2P has recently added Visa, the financial service provider, to its cap table. The startup segregated 6,315 CCPS in the C-1 series to the Visa International Service Association. It also segregated 842 CCPS in the C-1 series to […]

Investments & Exits

Scratch Sweeps the $35 million Series C Round

World Fintech News September 22, 2022 0

Scratch Financial, a California-based fintech company focused on healthcare and medicine, has secured $35 million in its Series C fundraising round. While Norwest Venture Partners initiated the round, it saw active participation from other investors, including Alumni Ventures, Struck Capital, Companion Fund, TTV Capital and SWS Venture Capital. In order to assist pet

Investments & Exits

CYBERA Adds $5 Million For Cybersecurity Solutions

World Fintech News September 21, 2022 0

In a funding series led by New North Ventures and Converge VC, CYBERA Global Inc. has raised an additional US$5 million in equity funding. The other investors who also took part in the equity round include Serpentine Ventures, CV VC, the ex-financial supervisor of the Vatican, Rene Brulhart and Marcel Rohner, the former UBS head […]