Top 10 FinTech news for the week ending July 17, 2021
Another week of buying news saw Apple / Goldman Sachs announce they will take on Affirm and Afterpay. Revolut is now Britain’s most valuable fintechâ¦ again. Not one, but two fintech companies started trading in the public markets this week, and Square is deepening DeFi. Here’s what I consider to be the top 10 most important fintech news from the past week.
Apple and Goldman Plan Buy Now, Pay Later Service at Bloomberg’s Rival Affirm – Every time the planet’s most valuable company announces something new in financial services, it’s big news. Apple will launch two BNPL products, one that goes hand in hand with Afterpay and one to take on Affirm. Both companies lost more than 10% in value on Tuesday’s news and failed to recover.
Digital bank Revolut valued at $ 33 billion in funding round led by SoftBank and CNBC’s Tiger Global – Firmly asserting itself as Britain’s most valuable fintech, Revolut this week announced another monster round that values ââthe company at six times what it was worth a year and a half ago.
Digital lending platform Blend, valued at over $ 4 billion when it made its public debut by TechCrunch – Blend Labs (NYSE: BLND) completed its IPO on Friday and closed its first day up 16% with a valuation of over $ 4 billion.
Bank Of America: Active Digital Banking Users Up 3% To 40.5 Million From PYMNTS.com – Big Four Banks Reported Profits This Week And What Caught My Attention Is This article on B of A. They are clearly one of the largest “digital banks” in America with 40.5 million active users.
Sunlight Financial Completes SPAC Merger and Starts Trading on LendIt Fintech News NYSE – Sunlight Financial, a highly profitable fintech lender focused on clean energy, has started trading on the NYSE. Take a look at their numbers, they have been profitable for a while yet growing rapidly.
Square is building decentralized financial business using CNBC’s bitcoin – Square is embarking on DeFi after a tweet from CEO Jack Dorsey indicated the company would create a new unit to develop bitcoin applications.
GreenSky made lending easy without borrowers’ consent: American Banker’s CFPB – GreenSky had overzealous traders who gave loans to consumers without their consent and in some cases GreenSky let things slide in the name of a plus large volume of loans.
ECB Kicks Off Next Step of Digital Euro with Bloomberg Investigation Phase – European Central Bank is moving forward with formal CBDC investigation with President Christine Lagarde making it clear that these are ‘a springboard towards implementation.
Serena Williams invests in rental reporting fintech Esusu from TechCrunch – Tennis superstar Serena Williams has invested in rental reporting startup Esusu as part of a $ 10 million Series A.
Investment in fintech explodes as upstarts spread from The Economist – What a first six months for fintech with $ 70 billion in investment, already double that of 2020, with the UK and Europe catching up with the states -United