Fintech
Innovation in financial technology — digital payments, neobanks, blockchain, and more.
PalmPay Distributes Over ₦4 Billion in Interest to Nigerian Customers Across 2024
Nigerian fintech PalmPay paid out more than ₦4bn in interest to its 35 million-plus registered users during 2024.
LemFi Raises $53M Series B to Expand Immigrant Remittance Platform Across Europe and Asia
Nigerian-founded remittance fintech LemFi closed a $53M Series B led by Highland Europe, bringing total funding to $85M as it targets European and Asian market expansion.
GCash Lines Up Global Banks for Philippines PSE IPO That Could Raise Up to $1.5 Billion
GCash has lined up global banks for a Philippine Stock Exchange IPO that could raise up to $1.5 billion, people familiar with the matter said on 9–10 January 2025.
Canada's Wealthsimple outlines 2025 plans including USD chequing accounts and a credit card
The Canadian platform, profitable since the second quarter of 2023, reviewed a year of launches led by margin trading and set out plans for 2025.
US fintech Chime reportedly files confidentially for IPO, targeting 2025 listing
Bloomberg reported that the digital bank has submitted a confidential IPO filing and plans to go public in 2025, although the timing has not been finalised.
UK digital bank Zopa raises €80 million ahead of 2025 current account launch
Zopa raised €80 million (about £68 million) in an equity round led by A.P. Moller Holding to fund the launch of a current account and a generative AI proposition in 2025.
Rwanda launches national fintech strategy targeting $200 million investment and 300 companies by 2029
The Ministry of ICT and Innovation's five-year plan aims to quadruple the number of fintech firms, reach 80% fintech adoption and create 7,500 direct jobs.
UAE's Reem Finance Partners With Temenos to Launch Digital Community Bank on Cloud-Based Platform
Reem Finance is deploying Temenos' cloud-based SaaS core banking platform to launch a digital community bank in the UAE targeting both retail and corporate customers.
Revolut Surpasses 50 Million Global Customers After Adding 10 Million in 2024
Revolut has reached 50 million global customers including 10 million in the UK, adding 10 million users in 2024 and reporting 2023 pre-tax profits of $545 million.
N26 Reports First-Ever Quarterly Profit of €2.8 Million in Q3 2024 After BaFin Lifted Growth Cap
German neobank N26 recorded its first quarterly profit of €2.8 million in Q3 2024 after BaFin lifted its 50,000-per-month customer onboarding cap in mid-2024.
Klarna Confidentially Files Draft Registration Statement with US SEC in First Step Toward IPO
Swedish buy-now-pay-later firm Klarna announced on 13 November 2024 that it had confidentially submitted a draft registration statement to the US SEC, initiating its US IPO process.
Wise Reports £591.9 Million H1 FY2025 Revenue and 57% Rise in Underlying Profit Before Tax as Customer Base Hits 11.4 Million
Wise posted H1 FY2025 revenue of £591.9 million, up 19% year-on-year, with underlying profit before tax rising 57% to £147.1 million as active customers reached 11.4 million.