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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 last week in a TOP 5 list!

Mastercard and TransferWise have expanded their collaboration agreement so that the issuance of cards will be allowed in any market in the world where Mastercard is accepted and TransferWise is licensed.

„Although we have about 4 million users, we spent almost nothing on marketing, “ says Ahmed F. Karslı from Papara in an exclusive interview for Everly.eu

The British challenger Monzo bank has relaunched its premium ‘Monzo Plus’ account with a £5/month fee. And their customers embraced it. The Danish banking app Lunar is now focusing on business banking and has provided 2,000 users with early access to its business accounts and OakNorth Bank received additional CBILS (Coronavirus Business Interruption Loan Scheme) allocation from the British Business Bank.

1st place: TransferWise expands its global partnership with Mastercard

Mastercard has managed to build a strong partnership with TransferWise. The companies work together since the issuance of their first debit card in Europe in 2018.

2nd place: „Although we have about 4 million users, we spent almost nothing on marketing, “ says Ahmed F. Karslı from Papara

Ahmed F. Karslı is the founder and CEO of Papara. He got his Bachelor of Law and is currently pursuing his LLM at Istanbul University. Ahmed is a serial entrepreneur, that build his first company at the age of 17.

3rd place: Monzo Plus has attracted about 50.000 users since its launch last month

Monzo bank has had a tough year so far. The Bank of England issued Monzo to have a capital worth of 13.6 percent of its risk-weighted assets to be protected against potential losses. Before the rule change, Monzo was required to have capital worth at 9 percent.

4th place: Nordic challenger Lunar launches business account, a new premium option

For €265 per year (DKK 1,980), the customer is given access to Lunar’s brand new business account.

5th: OakNorth Bank has approved over £600m in new loans since March

The bank has approved a total of £600m since the start of lockdown which makes it an average of £150 million per month in new loans.

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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.