8.6 C
New York
Monday, February 6, 2023
Home weekly top 5 news The Everly Summary (weekly TOP5 news)

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 last week in a TOP 5 list!

Revolut has announced that it has raised $80 million as part of its Series D round that it announced in February. This new funding comes from TSG Consumer Partners.

Monzo bank is in trouble as its losses jumped from £47.2m to £113.8m amid a hiring spree, marketing and US expansion.

The former Finance Director from PayPal has been hired by UK-based card and mobile app provider Curve to act as its first chief financial officer (CFO). Allica Bank has announced the appointment of Richard Davies as its new chief executive officer and Dutch challenger bunq moves into mortgage market with initial €100m worth of loans.

1st place: Revolut raises $80m in new funding as it extends Series D round to $580m

Revolut is also surprisingly holding on to the $5.5bn valuation it secured earlier this year despite the fallout from the pandemic.

2nd place: Monzo bank future in doubt as losses double

This sharp increase in losses is not getting covered by Monzo’s rise in revenues from 19.7m to £67.2m. 

3rd place: Curve hires former PayPal exec Scott Weller as first CFO

Scott Weller who started his career as a private equity associate at BlackRock will have the responsibility of expanding Curve’s finance function as the startup, which enables users to access multiple bank accounts with a single card.

4th place: Revolut’s Richard Davies moves to Allica Bank as the new CEO

Allica Bank is a recently launched business bank that seeks to empower small and medium-sized businesses.

5th: Bunq moves into mortgage market with initial €100m worth of loans

Dutch challenger bunq is now offering mortgages as a part of its new partnership with a third party broker.

Thanks for joining us and be sure to subscribe to our Twitter account to get more exciting fintech news every day!

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

Recent posts

Fintech Funding Decline: The State of Fintech in 2022

Despite the decline, the fintech industry's performance in 2022 still beats its performance from two years ago, with funding increasing by 52% compared to 2020.

Partnership between Credits and Unlimint

Credits is a digital neobank that combines many financial services into one application, focusing on providing financial services for the cryptocurrency space.

UK Neobank Zopa Raises £75 Million in All-Equity Investment

The company has 850,000 customers across its different businesses and is on track to be profitable for the full year in 2023, the first time since its founding 17 years ago.

UK SMEs Lean on Business Finance and Credit for Growth and Sustainability

As interest rates remain high, borrowing will continue to play a significant role in helping these businesses achieve their goals.