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The Everly Summary (weekly TOP5 news)

Welcome to Everly.eu’s weekly summary. Let’s see the most important news we have covered during the week in a TOP 5 list!

Google screenshots revealed a debit card that will work as a physical Visa as well a a virtual Google Pay card.

With the coronvirus crisis, trading apps have seen a huge amount of new customers that seek a way to save their money.

N26 co-founders decided to slash their pay by 1/4, while other challenger bank Monzo seeks a banking licence in the US. In Revolut, the staff is being offered company shares for accepting lower pay.

1st place: Leaked Google Pay screenshots reveal a Google debit card, a rival to Apple’s

Google is likely going to push into banking and this could include a parallel to the Apple Card.

The Apple Card has some exciting ideas, but it’s just a cash-back credit card. Many of the concepts are identical to the Apple Card, but the Google Card is a debit card.

2nd place: Robinhood just made $60 million, triple what it made in March 2019

In recent months, coronavirus-linked market volatility has sent trading volumes on apps like Robinhood or Stake.

Australian trading app Stake that has launched in the UK and New Zealand – has informed that since the start of March, it has seen more than $250 million traded through its platform. 

3rd place: N26 co-founders are taking 25 % pay cut for a year

The coronavirus crisis has already made senior executives from Monzo, Lloyds and Revolut to slice down their own personal income.

N26 founders Valentin Stalf and Maximilian Tayenthal decided not to stay behind.

4th place: Monzo applies for US banking licence

The digital challenger submitted the application on Monday. For a US banking licence to be approved, it could take up to two years for Monzo’s application.

Monzo is planning to expand the number of its employees in the US and will open a new office in San Francisco.

5th place: Revolut offers staff swap salary for shares

Revolut’s staff are being offered shares in exchange for lower take-home pay. This comes as the company seeks to tighten its belt in light of the COVID-19 pandemic.

First reported by Financial News, the new scheme offers all staff the option to swap £1 of their salary for every £2 of share options in the company

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Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

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TransferWise reports 70% revenue growth and a 4th straight year of profitability

Annual revenue at TransferWise grew to £302.6 million, the company. These results show a net profit after tax of £21.3 million for fiscal year ending March 2020.

“Mitto helps its users to save money while saving the planet,” says Marcos Cuevas, the company’s co-founder and CEO

Mitto is a Barcelona-based debit card/finance app and it is mainly a sustainability-focused product that has raised €2M from Athos Capital and others. Mitto has a live crowdfunding campaign on Crowdcube in which the company has already raised £500,000.

Allica Bank is launching a £100m funding round

Allica Bank has already closed a £26 million investment and now is launching a new £100 million funding round to meet the current high levels of demand for its services.

Dutch challenger bunq plants 1,000,000 trees on Madagascar

Amsterdam-based digital bank bunq offers an option to plant a tree for every 100€ spent with their SuperGreen premium account. Now they planted 1,000,000 trees.