Fintech

Welcome to technewss Fintech!  This week we're looking at a startup that’s out to help people navigate long-term care using AI, a flurry of activity in Africa, another fintech company shutdown, and more. To get a roundup of technewss's biggest and most impor

The Consumer Financial Protection Bureau (CFPB) has hit U.K.-based remittance company Wise with about a $2 million fine for what it described as “a series of illegal actions.” Those actions include advertising inaccurate fees and failing to properly disclose exchange rates and other costs, the

Uber-backed Moove, an Africa-born mobility fintech that offers vehicle financing to ride-hailing and delivery app drivers across six continents, has acquired Kovi, a Brazilian urban mobility provider. The value of the deal is not being disclosed, but Moove confirmed it was an all-share transaction

Until a few years ago, it used to be difficult to make payments across borders almost anywhere in the world. But it’s still a big problem in Africa, where fragmented, disconnected systems, high fees, and poor infrastructure make it tough for businesses and individuals to move money quickly an

Welcome to technewss Fintech!  This week we're looking at the story behind the sale of Divvy Homes, Ramp's new product, some notable fundraising deals, and more! To get a roundup of technewss's biggest and most important fintech stories delivered to your inbox every

Visa has joined African fintech Moniepoint as a new investor. The business banking and payments platform confirmed to technewss that it received a “strategic investment” from the global payments giant as both companies look to drive financial inclusion and support the growth of small and mediu

Welcome to technewss Fintech!  This week, we're looking at just how much fintech startups raised in 2024, a slew of fundraising deals, Plaid's reported revenue growth last year, and more! To get a roundup of technewss's biggest and most important fintech stori

When merchants or companies launch online, they typically start by partnering with one or two payment processors. But as they grow and expand into new regions, they often need to onboard additional payment partners to meet different customer (and sometimes regulatory) needs, a process that comes wi

Welcome to technewss Fintech!  This week, we're looking at the latest with embattled fintech Bench, Robinhood's $45 million settlement, a couple of M&A deals, some cool fundraises, and more. To get a roundup of technewss's biggest and most important fintech

For many emerging market economies, remittances have become a lifeline. Inflows surpassed $669 billion in 2023, according to World Bank research, and they now represent significant portions of GDP in these countries, often outpacing foreign direct investment as the primary source of foreign exchang

Groww, India’s largest retail stockbroker, is preparing to file for an IPO in 10 to 12 months, seeking a valuation between $6 billion and $8 billion, sources familiar with the matter told technewss. The Bengaluru-headquartered’s listing would be the first IPO by a digital trading plat

After accounting startup Bench abruptly shut down on December 27 and was bought in a fire-sale by Employer.com, Bench customers are now learning they can't easily just take their financial data and leave.  And some are very unhappy about it, three customers told technewss.

Wirecard, a German fintech that raised hundreds of millions of dollars only to collapse in 2020 in a sea of scandal and insolvency, still makes headlines today as lawsuits continue against different entities and people once connected to the business. But not all that came out of it was rotten. A D

Welcome to technewss Fintech! It's good to be back.  This week, we're looking at the wild ride that was Bench's shutdown and acquisition; dozens of companies that are hiring in the fintech space; lawsuits against PayPal; an IPO update; and more! This edition is a