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Saturday, January 23, 2021
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Tag: financing

Hungarian fintech startup Péntech receives funding of EUR 700K

Péntech entered the market in beta mode in the autumn of 2019. Since spring 2020 the digital factoring platform is fully functional and is used by more than 300 registered users.

UK government launches £1.25bn plan to help start-ups

The Chancellor has announced support worth £1.25bn for UK start-ups and businesses driving research and development in some of the most dynamic sectors of the UK economy – ranging from tech to life sciences.

$1.2 billion deal – SoFi buys fintech Galileo

Salt Lake City-based personal finance giant SoFi just announced it plans to acquire financial technology firm Galileo.

BNP Paribas buys Banco Sabadell depository unit for €115m

Spanish bank Banco de Sabadell reported yesterday that it agreed to sell its depositary unit to the french BNP Paribas.

SoftBank is selling $41bn in assets to cover debt and buyback stock

SoftBank Group announced this Monday it is going to sell up to $41 billion in assets to finance a stock buyback, reduce debts and increase its cash reserves.

Leap Finance raises $5.5M to lend to Indian students who are studying abroad

Leap Finance, a fintech platform for overseas Indian students, announced it has raised US$5.5 million in a round led by Sequoia India.

Ally Financial will buy CardWorks and it makes a $2.65 billion deal

Auto lender Ally Financial Inc on Tuesday has announced it’s buying subprime lender CardWorks for $2.65 billion. Ally Fin. looks to diversify its consumer product offerings, supported by a growing and low-cost deposit base.

Immigrant Credit Access? Nova Credit raised $50M

Around 70% of people around the globe now have some form of a bank account, according to the World Bank. But when it comes immigrants, they essentially leave behind their financial histories, starting again from zero.
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Monzo Bank founder Tom Blomfield is leaving the company

Tom Blomfield who co-founded Monzo Bank 2015, is leaving the digital bank, citing "challenges" from the pandemic, TechCrunch reported.

UK Government voted down BNPL regulation bill

70 MPs have decided to vote down a bill which was supposed to regulate buy now, pay later companies like Klarna, Laybuy and Clearpay.

Curve raises $95 million as it eyes US expansion

London-based Fintech Curve secured $ 95 million in its latest investment Series C funding.

Challenger bank Revolut applied for UK banking license

Revolut has submitted an application for a banking license to the U.K. Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA).