Philippines challenger Tonik raises $21m ahead of 2020 launch
Philippines digital bank Tonik has raised $21 million in a Series A funding round featuring blue-chip VC investors Sequoia India and Point72 Ventures. Tonik is the Philippines’ first neobank The funding round, Tonik’s second since its 2018 founding, also saw participation from from previous VC investors Insignia and Credence. The neobank says that it will … Continue reading Philippines challenger Tonik raises $21m ahead of 2020 launch Continue Reading
The latest episode of What the Fintech? is brought to you remotely, featuring Victor Trokoudes, co-founder & CEO of Plum, a UK-based savings app. On this episode, we explore Western Union’s potential acquisition of MoneyGram and how consolidation is impacting traditional players in the paytech market. We unpack Softbank’s $100 million fund that “will only invest in … 
Chase Bank has signed a partnership agreement with digital receipts management firm Sensibill. Chase will roll out the Sensibill solution throughout 2020 The bank is aiming to make it easier for its customers to make returns, submit warranties and expenses, track their spending, and manage their finances. Sensibill’s platform will be integrated into the Chase … 
GBB, one of the UK’s latest aspiring challenger banks, has landed Monzo’s co-founder Paul Rippon as its non-executive chair, the Telegraph reports. Rippon stepped down from Monzo in January to focus on his alpaca farm business which he runs with his wife Debbie in Northumberland, announcing that his 27 years working in the financial services industry was … 
Coronavirus (COVID-19) is an unprecedented test of the resilience of businesses large and small. The crisis has plunged vast swathes of the global economy into a deep freeze. But when the markets thaw, will the world will be a different place, or will we fall back into existing trappings? Many firms have already started to … 
Société Générale has launched a new free account called Banxup for teenagers which connects to their parents’ pre-existing accounts with the bank. As of May, the bank says it has been acquiring 3.5 million digital clients a month Offering complete parental control, children can send requests for money through the app “with two clicks” to … 
IBM has finalised a deal to acquire Spanugo, a Santa Clara-based cloud cybersecurity start-up, in what marks the technology giant’s first acquisition since its $34 billion buyout of Red Hat in October 2018. The integration will essentially form “a security control center” The firm, founded in April 2017, has just one seed round under its … 
Square, the fintech payments giant valued at around $27 billion, has acquired Verse, a Spanish peer-to-peer (P2P) payments app. The acquisition, the value of which has not been disclosed, will see Verse join forces with Square’s Cash App offering, its mobile payment service which had 24 million active users at the end of 2019. Square … 
India Infoline (IIFL), a Mumbai-based financial services company which offers home loans, gold loans and business loans, has launched #IIFLDisrupt – an initiative to help prop up India’s early-stage fintechs during the coronavirus crisis. India and China have some of the highest fintech adoption rates (87%) The firm, whose wealth management arm holds roughly $24 … 
Mydoh, a start-up wholly owned by Canada’s largest bank RBC, has launched a banking offering for children and teenagers aged 8-18. The fintech was co-founded by Faria Rahman and Gaurav Kapoor at the bank’s start-up venture arm, RBC Ventures. “Our main aim is not to be another bank, but to make it fun,” says Rahman …