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Wednesday, September 30, 2020
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Challanger banks

Challenger vs. incumbent banks, who is going to win the customer over?

Revolut managed to raise $80 million from TSG Consumer Partners while Monzo bank’s losses jumped from £47.2m to £113.8m. CFTE has done a research among its employees to see if challenger banks stand a chance to ever replace the incumbent banks so customers use them as their primary account.

Spanish challenger Bnext extends Series A funding round by €11 million

Spain's digital banking app Bnext has raised €11 million as an extension to a €22 million Series A financing round they managed to secure last October.

Revolut launches Open Banking in Italy in partnership with TrueLayer

Revolut has just announced the launch of Open Banking for its over 400.000 retail and business customers in Italy.

Monzo bank future in doubt as losses double

Monzo bank’s losses jumped from £47.2m to £113.8m amid a hiring spree, marketing and US expansion.

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.

Revolut launches in-app price comparison service

Revolut is now working with Decision Tech, a price-comparison technology company.

Revolut’s Richard Davies moves to Allica Bank as the new CEO

Allica Bank has announced the appointment of Richard Davies as its new chief executive.

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

The challenger bank Revolut just 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.

N26 partners with adidas to provide customers with a new perk

German challenger bank N26 has announced a partnership with another German brand, the sportswear giant adidas.

Starling Bank extends SME features by adding Penfold to the marketplace

Penfold is a pension provider for self-employed and is the latest addition to Starling Marketplace, where the customer is able to browse third-party providers and services.

Lunar launches Denmark’s first metal card as part of a ‘Pro’ premium account

Nordic challenger bank Lunar that has offices across Denmark, Sweden, and Norway, has announced the launch of their new premium 'Pro' account that comes with a metal card.

Revolut finally extends cryptocurrency trading feature to the US

Revolut announced this Wednesday that it will start offering its cryptocurrency trading services in the U.S.
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N26 names Dropbox’s Adrienne Gormley as its new COO

The German challenger N26 has introduced changes in the leadership team with two new C-Level hires.

Penta, the Berlin-based digital business bank

Penta provides banking for small and medium-sized enterprises (SMEs) and is headquartered in Berlin, with offices in Milan and Belgrade.

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!

Robinhood managed to raise another $460m

The stock trading app Robinhood has added $460m to its Series G funding round closing a total of $660 million at an $11.7 billion valuation.