Global FinTech, Global Runs: Peru Today, Denmark Next Week
Hey FinTech Fanatic!
I know, I know… another running club update. But when the Lima launch makes it into the local press, you’ve got to brag a little 😉
Our Peru 🇵🇪 chapter kicks off its very first run today (props to the host 👉 Oscar Narváez del Río)—and I’m pumped to see this community go global one city at a time.
Closer to home, during Nordic FinTech Week, there’ll be a 7 AM run to get the blood flowing before the conference marathons (the panel kind). Sadly, I can’t join this one, but if you’re around, don’t sleep on it—literally. Sign up here.
For now, I’m heading out for my own local Amsterdam loop.
You’ll find today's FinTech highlights lined up for you below 👇, and I’ll be back in your inbox on Monday.
Cheers,
FINTECH NEWS
🇺🇸 Leading US FinTech Robinhood selects Stakk as a critical vendor for its new banking solution. Stakk will deliver a solution to Robinhood encompassing its image capture, authentication, and transaction processing capabilities. The Agreement can be renewed by mutual consent for subsequent terms of 1 year.
🇮🇳 PayPal-Backed Pine Labs plans up to $700 million IPO in October. The company has started roadshows for the planned initial share sale, which includes a fresh issue of shares worth 26 billion rupees and a sale of 147.8 million shares by the founder and investors.
🇮🇳 FinTech shifts focus to Groww in the lending and wealth management space. Groww's proposed IPO comes at a time when the stock broking industry is facing pressure on profitability in the wake of a regulatory clampdown on futures and options trades. This has impacted most of the large players in the ecosystem, with around 30% of their revenue being shaved off.
FINTECH RUNNING CLUB
🏃➡️ FRC Amsterdam knows how to do it! Check more about it here and join a run! ✨
PAYMENTS NEWS
🇿🇦 dLocal integrates Capitec Pay to expand real‑time open banking payments in South Africa. The integration enables secure, instant account‑to‑account (A2A) payments authenticated in the Capitec app, giving global merchants more choice and consumers more control.
🇨🇦 VoPay expands embedded payments offering with real-time PayPal and Venmo Payouts. Collaboration empowers VoPay customers across North America to send funds instantly to more than 400 million active PayPal and Venmo accounts, thereby expanding access to major digital payment options.
🇺🇸 Rain and Lithic Forge's strategic partnership to accelerate the global growth of stablecoin-powered payments. Through this partnership with Lithic, Rain will dramatically expand its reach, making its ground-breaking stablecoin technology available to even more FinTechs, platforms, and enterprises worldwide.
REGTECH NEWS
🇮🇳 FinTech Giants PhonePe and Paytm discontinue credit card rent payments after revised RBI Norms. This mode of making rent payments has grown in popularity due to the rewards, cashback, or benefits offered through interest-free credit periods. However, the RBI’s new circular issued on September 15 led to halting this top-growing use case by FinTech players.
🇦🇪 Kamel Pay receives In-Principle approval from the Central Bank of the UAE. This milestone marks a pivotal step in Kamel Pay’s mission to deliver a trusted and inclusive financial ecosystem, powering businesses with transparent, efficient payments and empowering employees with access to financial services.
DIGITAL BANKING NEWS
🇬🇧 Allica Bank expands support for soft assets in response to broker demand. In addition to the soft assets it already supports, Allica will now also lend against a broader range of assets, including restaurant and office fit-outs, software, park homes and holiday pods, air conditioning, and more.
🇺🇸 FIS redefines banking modernization with the client at the core. This approach empowers financial institutions to tailor their modernization journeys to their current needs, allowing them to begin with any part of their technology stack, whether it’s digital channels, data and AI, or open banking integrations.
🇵🇰 Mashreq’s digital retail bank in Pakistan makes a commercial launch. Products announced include Mashreq NEO for personal customers and Mashreq NEOBiz for small and medium-sized enterprises, offering round-the-clock, paperless services. Mashreq said that customers will be able to complete onboarding digitally and access fee-free ATM withdrawals.
BLOCKCHAIN/CRYPTO NEWS
🇧🇷 Nubank to test dollar-backed stablecoin payments via Credit Cards. Former Brazilian Central Bank Chief Roberto Campos Neto says stablecoins could reshape finance as Nubank pilots blockchain integration. He emphasized that blockchain will be crucial in linking digital assets with traditional banking, allowing for tokenized deposits while maintaining credit intermediation.
PARTNERSHIPS
🇺🇸 Carta and Morgan Stanley announce expanded strategic partnership bringing IPO support and wealth management to private companies. Through this collaboration, Morgan Stanley Wealth Management’s suite of services will be integrated into the Carta platform, offering users streamlined, trusted access to personalized financial guidance, education, and tailored wealth planning resources.
🌎 Clara and Bitso Business partner to launch stablecoin-backed corporate cards for businesses in Latin America. This collaboration enables companies holding stablecoins in Bitso to use those assets as collateral for payment products issued by Clara.
🇸🇬 Alipay+ partners with Grab to make ride-hailing services available to global digital wallet users. The duo said in a statement that this will make local transportation services in Southeast Asia more accessible for users of Alipay+ Voyager, who can now book rides directly from within their digital wallets.
🇫🇮 Vipps MobilePay selects Tink to power Pay by Bank for P2P in Finland. Vipps MobilePay customers in the country can now use Tink's Pay by Bank for peer-to-peer payments, offering a secure and simple way to make payments directly from their bank accounts.
🇺🇸 Google and PayPal forge a multiyear partnership to revolutionize commerce. The collaboration will deliver innovative solutions that transform how businesses and consumers transact across platforms and devices. Combining their expertise and scale, the companies aim to deliver frictionless digital commerce experiences and set a new standard for commerce ecosystem innovation.
🇸🇦 Mastercard and HyperPay join forces to revolutionize SME payments in MENA. The collaboration aims to drive the modernization of business payments across the region, with the two entities joining hands to issue commercial cards in Saudi Arabia and other key markets, including the United Arab Emirates and Qatar.
🇺🇸 Kraken and Circle partner to accelerate global access to USDC and EURC. Kraken will strengthen its support for USDC and expand access to Circle’s stablecoin infrastructure through this collaboration. The partnership aims to accelerate the responsible growth of stablecoins as foundational elements of the emerging internet financial system.
DONEDEAL FUNDING NEWS
🇮🇪 Stripe alumni launch Seapoint to challenge banks with an AI financial home for startups. The financial platform for European startups has raised $3 million in pre-seed funding. Seapoint found that financial stacks are fragmented, manual, and costly, with companies typically using four to six tools.
🇸🇦 Saudi FinTech LDUN raises $4.8 million seed round. The startup offers a comprehensive range of solutions to increase the purchasing power of MSMEs, while also improving the cash flow of their suppliers. Keep reading
🇧🇪 Eagl raises €825K to automate month-end close with AI agents for in-house finance teams. The platform plugs into ERP and accounting systems, automating accounting and controlling workflows, continuously monitoring data quality, and resolving anomalies with business context.
🇺🇸 Extend raises $20M and hires vet Francois Horikawa as CFO. The company said it will help it broaden partnerships and expense management services. Horikawa previously was head of finance for PayPal's consumer business unit, which includes Venmo, peer-to-peer cards, and small business lending.
🇺🇸 Payments firm PayNearMe raises $50M to fuel expansion. The funding will allow PayNearMe to accelerate its expansion into new markets and further develop its payment technology platform. Continue reading
M&A
🇧🇷 Mercado Pago buys Nikos DTVM to expand investment products. The purchase will allow Mercado Pago to structure and distribute its own fixed-income securities, investment funds, and third-party products directly, as well as grow its existing assets under management in Brazil.
🇮🇳 PayU raises stake in Mindgate to 70% as valuation hits $300 million. This is the second fund infusion from PayU into the company, after it acquired 43% in March 2025. The remaining 30% of Mindgate is held by its founders, who will continue to run the business.
🇺🇸 Spreedly acquires Dodgeball: payments and fraud orchestration for the future. This acquisition is in direct response to the market’s need for a comprehensive, adaptable fraud solution. By combining the Spreedly open payments platform with Dodgeball’s advanced ability to orchestrate fraud defense.
MOVERS AND SHAKERS
🇬🇧 Trading 212 adds Revolut / ETX Capital alum Christos Drakos to head Crypto. Drakos joins Trading 212 from neobank Revolut, where he served as Executive Director of Revolut’s Cyprus unit for the past three years. He has also previously worked at ArgusFX and at ETX Capital.
🇷🇴 Revolut appoints Florina Moisei as Country Manager of the Romanian branch. According to the company, Florina Moisei brings over 20 years of experience in the financial-banking sector, with a strong focus on risk management, operational efficiency, and business development.
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