๐ŸšจBreaking: Monzo's Funding Round Hits ยฃ500M with Hedosophia onboard

๐ŸšจBreaking: Monzo's Funding Round Hits ยฃ500M with Hedosophia onboard
Breaking: Monzo's Funding Round Hits ยฃ500M with Hedosophia onboard

Hey FinTech Fanatic!

Rumblings from the financial hub suggest that Monzo could make the big reveal this week, unveiling Hedosophia alongside Singapore's Government Investment Corporation (GIC) as key backers in a fundraising round nearing the ยฃ500 million mark.

This unexpected surge in funding positions Monzo among the elite ranks of British tech companies, marking one of the largest fundraising rounds in its history.

Word on the street is that GIC is injecting north of ยฃ50 million into Monzo, while Hedosophia is also flexing its financial muscles with tens of millions in commitments.

What a start of the week!




๐Ÿ“Š Check out The Digital Payments: US ๐Ÿ‡บ๐Ÿ‡ธ ๐Ÿ†š China ๐Ÿ‡จ๐Ÿ‡ณ report. Including a comparison of the daily spending habits. View the full report here

๐Ÿ“‰ 79% of US consumers are highly satisfied with BNPL according to a recent report by PYMNTS. Link here 


๐Ÿ’ณ Visa knows how to be profitable. The latest Financial Results are on ๐Ÿ”ฅ

๐Ÿ‡ฑ๐Ÿ‡บ In his interview for The Paypers Cross-Border Payments and Ecommerce Report, James Butland, VP of Payment Network at Mangopay, discusses whatโ€™s in store for cross-border payments, and how they can be processed seamlessly by companies to drive cost optimisation.


๐Ÿ‡ธ๐Ÿ‡ช What a week it was for Klarna ๐Ÿคฏ

Here are the ๐Ÿฒ ๐—•๐—œ๐—š ๐—ก๐—ฒ๐˜„๐˜€ ๐—จ๐—ฝ๐—ฑ๐—ฎ๐˜๐—ฒ๐˜€ from Klarna, and one quick question ๐Ÿ˜‰

๐Ÿ‡บ๐Ÿ‡ธ In case you wondered whoโ€™s the processor for the new Robinhood Gold card. Itโ€™s Fiserv, Jevgenijs Kazanins found out.


๐Ÿ’ต According to S&P Global, 67% of merchants do not want to have a single point of failure for Payment Processing.

๐—ฃ๐—ฎ๐˜†๐—บ๐—ฒ๐—ป๐˜ ๐—ข๐—ฟ๐—ฐ๐—ต๐—ฒ๐˜€๐˜๐—ฟ๐—ฎ๐˜๐—ถ๐—ผ๐—ป is more than just a buzzword. Let me explain:

๐Ÿ‡ง๐Ÿ‡ท FastSpring and EBANX forge partnership to expand Pix Payments for digital products in Brazil. Through this integration, the companies aim to provide the best payment experience to Brazilian clients through local payments via the fast-growing and highly adopted Pix.

๐Ÿ‡บ๐Ÿ‡ธ What a week it was for Stripe ๐Ÿคฏ

Here is a list of Key News Updates from Stripe this week.

๐Ÿ‡ญ๐Ÿ‡ฐ Alipay+ enables digital payment from 14 overseas e-wallets in Hong Kong. Users from 9 countries can now use their home e-wallets in Hong Kong via Alipay+ for seamless payments with transparent exchange rates at merchants displaying the Alipay+ / AlipayHK logo.

๐Ÿ‡ณ๐Ÿ‡ฑ Bird enters Payments! According to CEO Robert Vis: "๐˜ฝ๐™š ๐™ค๐™ฃ๐™š ๐™ค๐™› ๐™ฉ๐™๐™š ๐™›๐™ž๐™ง๐™จ๐™ฉ ๐Ÿ๐ŸŽ๐ŸŽ ๐™—๐™š๐™ฉ๐™– ๐™—๐™ช๐™จ๐™ž๐™ฃ๐™š๐™จ๐™จ๐™š๐™จ ๐™ฉ๐™ค ๐™Ÿ๐™ค๐™ž๐™ฃ ๐˜ฝ๐™ž๐™ง๐™™ ๐™‹๐™–๐™ฎ ๐™–๐™ฃ๐™™ ๐™จ๐™ก๐™–๐™จ๐™ ๐™ฎ๐™ค๐™ช๐™ง ๐™ฅ๐™–๐™ฎ๐™ข๐™š๐™ฃ๐™ฉ ๐™ฅ๐™ง๐™ค๐™˜๐™š๐™จ๐™จ๐™ž๐™ฃ๐™œ๐™˜๐™ค๐™จ๐™ฉ๐™จ ๐™—๐™ฎ ๐™ช๐™ฅ ๐™ฉ๐™ค ๐Ÿ—๐ŸŽ% ๐Ÿคฏ ๐™‹๐™ก๐™ช๐™จ." Click here to learn more 


๐Ÿ‡ฌ๐Ÿ‡ง Volt: Meet the FinTech taking on Visa and Mastercardโ€™s duopoly.


๐Ÿ“ˆ A comparative Insight into Digital Banking Performance in 2024๐Ÿ‘‡

๐Ÿ‡บ๐Ÿ‡ธ U.S. Regulators have seized Republic First Bancorp and agreed to sell it to Fulton Bank, underscoring the challenges facing regional banks a year after the collapse of three peers. Continue reading

๐Ÿ‡ฟ๐Ÿ‡ฆ Capitec CEO Gerrie Fourie said he is far more concerned about the competition that international brands like Apple and Facebook could bring to South Africaโ€™s banking sector than local market players like new digital banks.

๐Ÿ‡ฌ๐Ÿ‡ง This week was WILD for Revolut ๐Ÿคฏ But, they do ๐—š๐—ฒ๐˜ (๐—ฆ๐—ต)๐—ถ๐˜ ๐——๐—ผ๐—ป๐—ฒ.

The 5 BIG News Updates you need to know from Revolut this week.

๐Ÿ‡ง๐Ÿ‡ท Nubank announces the launch of Nubank+ and a groundbreaking partnership with Max in Brazil. The announcement marks the launch of Nubank+, an evolution of the Nu experience with special advantages for customers' day to day. More info here


๐Ÿ‡ฌ๐Ÿ‡ง Monzo Bank expands fundraising to ยฃ๐Ÿฑ๐Ÿฌ๐Ÿฌ๐—บ in a round that includes money from Hedosophia, according to Sky News. The larger-than-expected round makes it one of the largest ever achieved by a British Tech company.

๐Ÿ‡จ๐Ÿ‡ฆ Canadian FinTech firm Qohash secures $17.4m for AI data security expansion. This latest financial injection will help Qohash further develop its innovative Qostodian platform, which utilises artificial intelligence to manage and secure high-risk data across various sectors.

๐Ÿ‡ต๐Ÿ‡ญ Consumer finance app BillEase secures $5-m funding from Saison Investment. BillEase, which offers personal loans, e-wallet top-ups, prepaid load, gaming credits, bills payment and BNPL solutions, achieved profitability in 2023. Keep reading

๐Ÿ‡บ๐Ÿ‡ธ RevenueCat raises $12M Series C as it expands its subscription management to the web. In addition to fueling its new products, the fundraise will help RevenueCat expand to new markets, including Japan and South Korea. Read more

๐Ÿ‡ง๐Ÿ‡ท Brazilian Banking as a Service company QI Tech is valued at over $1 billion after extending its Series B funding to $210 million, it tells Axios exclusively. The company is now one of 18 Brazilian unicorns, based on CBInsights data.


๐Ÿ‡ณ๐Ÿ‡ฑ Amsterdam-based Moodus, a company that facilitates contactless donations, has acquired the assets of ACTOLL, a French FinTech company owned by Matawan. Ahmed Ali, co-founder of Moodus, announced the development via a LinkedIn post

๐Ÿ‡ซ๐Ÿ‡ท Spendesk, a French unicorn specializing in payment management for businesses, completes its first acquisition. With the acquisition of Okko, it aims to diversify its activities. By integrating Okko's technology and resources, Spendesk becomes the first European solution to fully integrate procurement and expense management for SMEs and mid-sized enterprises.

๐Ÿ‡บ๐Ÿ‡ธ Paystand buys Teampay. The transaction creates a B2B payments powerhouse whose continued goal is to revolutionize payments by expanding the largest, fastest, and most cost-efficient B2B payments network. 


๐Ÿ‡บ๐Ÿ‡ธ Polygon Labs COO Michael Blank to step down as the company axes the exec role. The elimination of Blankโ€™s role comes almost three months after the company let go of 60 employees, approximately 19% of its staff, per a post from Boiron announcing the layoffs in February.

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