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Marcel van Oost

Nu Mexico Doubles Its Customer Base to 10 Million in Just One Year

Nu Mexico Doubles Its Customer Base to 10 Million in Just One Year

Hey FinTech Fanatic! Nu Mexico has hit a major milestone—reaching 10 million customers, doubling its base in the last year. Since launching in 2019, Nu has expanded from a simple credit card to a full suite of financial products, including savings accounts, debit cards, and personal loans, serving nearly

UK's Open Banking Preps for 2025 with Variable Recurring Payments Launch

UK's Open Banking Preps for 2025 with Variable Recurring Payments Launch

Hey FinTech Fanatic! The Financial Conduct Authority (FCA) and Payment Systems Regulator (PSR) have announced next steps for open banking in the UK, which now serves 11.7 million active users and processes 22.1 million monthly payments. Open Banking Limited will establish an independent central operator to coordinate variable

HSBC Shuts Down Zing International Payments App After Just One Year

HSBC Shuts Down Zing International Payments App After Just One Year

Hey FinTech Fanatic! HSBC is shutting down Zing, its international payments app, just one year after launch according to Financial News. The bank had developed Zing in early 2022 with initial plans to expand into the Netherlands followed by Singapore and the United Arab Emirates. According to a person familiar

Monzo’s Next Move: New York or London? What’s Your Bet? 👇

Monzo’s Next Move: New York or London? What’s Your Bet? 👇

Hey FinTech Fanatic! Monzo Bank is preparing for a potential IPO, with plans to be "IPO ready" by the end of this year, but faces internal discussions about the listing location. TS Anil, Chief Executive, is reportedly favoring a US listing, while the board prefers the London market

Barclays to Shut Down FinTech Accelerator Rise by Mid-2025

Barclays to Shut Down FinTech Accelerator Rise by Mid-2025

Hey FinTech Fanatic! Barclays has announced it will wind down Rise, its global FinTech accelerator program, by mid-2025. The program, launched in 2015, has produced over 120 graduates including ApTap, WealthOS, and iWarranty through its locations in London, New York, and a virtual community in India. According to a Barclays

Bench Collapses Under $65M Debt, Heads into Bankruptcy

Bench Collapses Under $65M Debt, Heads into Bankruptcy

Hey FinTech Fanatic! Accounting startup Bench has filed for bankruptcy in Canada, revealing over $65 million in debt and just $2.8 million in cash left. Founded in 2012, Bench raised $113 million from backers like Shopify and Bain Capital Ventures but couldn't stay afloat. Most of the

IG Group Acquires Freetrade for £160 Million ($195M) in Major Investment Platform Deal

IG Group Acquires Freetrade for £160 Million ($195M) in Major Investment Platform Deal

Hey FinTech Fanatic! IG Group has announced the acquisition of UK neobroker Freetrade for £160 million (USD $195 million). The deal values Freetrade at approximately 5x its annual run rate revenues, based on Q4 2024 performance of £8.3 million, contributing to total 2024 revenues of £27.5 million. Since