Fintech
Innovation in financial technology — digital payments, neobanks, blockchain, and more.
Nigeria's Paystack Processes Over ₦1 Trillion in Transactions in a Single Month for the First Time
Lagos-based Paystack announced it processed more than ₦1 trillion in transactions in July 2024, the first time the Nigerian fintech has crossed that threshold in a single calendar month.
Revolut Announces Secondary Share Sale at $45 Billion Valuation as Europe's Most Valuable Private Tech Company
Revolut announced a secondary share sale, expected to raise about $500M for staff, at a $45B valuation, its first equity transaction in three years, coming weeks after receiving its UK banking licence.
Robinhood Reports 40% Revenue Jump and 2 Million Gold Subscribers in Q2 2024
Robinhood posted Q2 revenues of $682M, up 40% year-on-year, as Gold subscribers topped 2 million and net deposits reached $13.2B.
Revolut Receives Restricted UK Banking Licence from the Prudential Regulation Authority
Revolut has been granted a restricted UK banking licence by the PRA, ending a three-year application process that began in January 2021.
Egypt's MNT-Halan Raises $157.5 Million Led by IFC to Fund Regional Expansion
Egyptian fintech MNT-Halan has closed a $157.5 million funding round led by IFC to finance its expansion into new markets beyond Egypt.
Turkey's Papara Named Among World's Top Neobanks in CNBC Fintech Companies 2024 List
Papara became the only Turkish brand ranked among the world's top 35 neobanks in the CNBC/Statista World's Top Fintech Companies 2024 report.
China's NFRA approves WeBank to establish technology subsidiary in Hong Kong
The regulator's Shenzhen office approved a wholly owned WeBank technology unit in Hong Kong with US$150 million of capital, to manage the digital bank's overseas business.
Mexico's Clip Raises $100 Million from Morgan Stanley Tactical Value to Scale POS Platform
Mexican fintech Clip secured a $100 million investment from Morgan Stanley Tactical Value.
Wise Reports FY2024 Revenue of £1.05 Billion as Profit Before Tax Surges 229% to £481 Million
Wise's FY2024 results show revenue up 24% to £1.052 billion and profit before tax surging 229% to £481.4 million, with active customers reaching 12.8 million.
Starling Bank Posts Third Consecutive Profitable Year with Pre-Tax Profit Up 55% to £301 Million
Starling Bank's FY2024 annual report shows pre-tax profit rising 55% to £301.1 million and revenue up 51% to £682.2 million for the year to March 2024.
Affirm's Buy-Now-Pay-Later Loans to Be Integrated Into Apple Pay in the United States
Affirm will offer instalment loans directly within Apple Pay for US users checking out online and in-app from later in 2024.
UK Fintech Monzo Posts £15.4 Million Profit in First Full Year of Profitability
Monzo swung from a £116 million loss to a £15.4 million pre-tax profit in FY2024, as revenue rose 148% to £880 million.