Virtual Banking

MoneyLion to Offer Crypto Investment Ahead of SPAC Merger

US-based neobank MoneyLion announced the launch of its new cryptocurrency capabilities, enabling customers to buy and sell digital currencies within its app. MoneyLion said that eligible customers will initially be able to buy and sell Bitcoin and Ethereum, as well

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Neobank Varo Raises US$510 Million, Now Valued at US$2.5 Billion

US-based Neobank Varo Bank announced that it closed a US$510 million oversubscribed Series E funding round, valuing it at US$2.5 billion. The round was led by new investor Lone Pine Capital, who was joined by dozens of additional new investors

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MoneyLion’s SPAC Merger to Be Finalised, Soon to Be Listed on NYSE

US-based neobank MoneyLion’s merger with a special purpose acquisition company (SPAC) Fusion Acquisition Corp. to become a publicly listed company is coming to a close. A special meeting of Fusion Acquisition Corp. shareholders will be held on 21 September 2021

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5 Reasons Why Apple Could Be Your Next Bank

As more big tech companies want to grow and take over the financial tech space, Apple already offers few financial services like Apple Wallet, Apple Pay and Apple Card. However, it’s reasonable to believe that Apple is interested in taking

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Yapeal Introduces Youth Banking Service Yapini

Swiss digital challenger bank Yapeal recently released a new digital banking service for children and youth. Called Yapini, the offering is aimed at enabling money management services for young customers. Yapini comes with savings, digital payments and financial security features,

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Neobank Chime Bags US$750 Million, Fintech Expert Questions US$25 Billion Valuation

San Francisco-based challenger bank Chime Financial announced that it has secured a funding of US$750 million, pushing its valuation to US$25 billion ahead of a planned initial public offering (IPO) early next year. The funding round was led by new

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Neobank Upgrade Closes US$105 Million Series E Round, Valued at US$3.325 Billion

Upgrade, a US-based fintech company that offers affordable and responsible credit to mainstream consumers, announced that it closed a US$105 million Series E round at a US$3.325 billion pre-money valuation. The round was led by Koch Disruptive Technologies (KDT) with

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Nubank Leads US$44 Million Investment Round in Indian Neobank Jupiter

Brazilian challenger bank Nubank announced that it led a US$44 million investment round in Jupiter, an Indian digital bank which launched its beta app about a month ago. This marks the first investment that Nubank has made into another company.

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Australian Digital Bank Alex Goes Live on Temenos

Swiss banking software company Temenos announced that Australia’s newest digital bank, Alex, has gone live on The Temenos Banking Cloud. Temenos technology powers Alex’s launch as a licensed bank, following the acquisition of its Restricted-Authorized Deposit-Taking Institution (RADI) license from

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Neobank Mercury Bags US$120 Million, Looks To Crowdfund US$5 Million More

Mercury, a San Francisco-based fintech startup which offers banking services for startups, announced that it has raised US$120 million during its Series B funding round and is now valued at US$1.62 billion. The round was led by Coatue, with participation

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