Fintech
Innovation in financial technology — digital payments, neobanks, blockchain, and more.
Klarna reports profitable first quarter as revenue rises 29% to SEK 6.4 billion
The Swedish payments company posted adjusted operating income of SEK 229 million for Q1 2024, against a SEK 498 million loss a year earlier, and said AI adoption helped cut operating expenses by 11%.
PayPal Expands PYUSD Stablecoin to Solana Blockchain for Faster and Cheaper Transactions
PayPal announced at Consensus 2024 on 29 May that its PYUSD stablecoin is now available on Solana, offering faster and cheaper transfers alongside its existing Ethereum deployment.
BaFin lifts N26 customer growth cap with effect from 1 June 2024
Germany's financial regulator has ended the restriction that limited N26 to 60,000 new customers a month. The neobank expects to reach monthly profitability in the second half of 2024.
Klarna Redomiciles Parent Company from Sweden to the United Kingdom Ahead of US IPO
Klarna has completed the redomiciliation of its parent company from Sweden to the United Kingdom via a share-for-share exchange, as part of preparations for a planned US stock market listing.
Airtel Africa Plans Airtel Money IPO in 2025 at Potential $4 Billion-Plus Valuation
Airtel Africa CEO Olusegun Ogunsanya has confirmed a 2025 listing target for Airtel Money, a unit Bloomberg estimated could be valued at about $4 billion.
Robinhood Posts Record Q1 2024 Revenue of $618 Million as Crypto Surges 232%
Robinhood reported record quarterly revenue of $618 million, up 40% year-on-year, driven by a 232% surge in crypto revenue and a record 1.7 million Gold subscribers.
UK Neobank Monzo Raises Additional $190 Million to Take Total 2024 Fundraise to $610 Million
Monzo has raised a further £150 million ($190 million), bringing its total 2024 fundraise to $610 million at a post-money valuation of £4.1 billion ($5.2 billion).
Nu Mexico Reaches 7 Million Customers in Latin American Expansion Drive
Nu Mexico, the Mexican arm of Brazilian neobank Nubank, has reached 7 million customers.
SoFi Technologies Reports Q1 2024 Net Revenue of USD 645 Million, Marking Second Consecutive GAAP Profit
SoFi Technologies posted Q1 2024 GAAP net revenue of USD 645 million, up 37% year-on-year, delivering its second straight quarter of GAAP profitability.
Synapse Financial Technologies files for Chapter 11 and agrees asset sale to TabaPay
The banking-as-a-service provider filed in the Central District of California and agreed to sell its assets to TabaPay for $9.7 million, subject to court approval.
US Fintech Mercury Expands Into Personal Banking, Adding Consumer Accounts to Business Platform
Mercury launched personal banking accounts in April 2024, expanding beyond its business-only roots to serve individual consumers alongside its more than 200,000 business customers.
Sweden's Klarna Launches US Credit Card, Extending Its US Instalment Offering
Klarna launched its first-ever US credit card in April 2024, allowing American consumers to pay in instalments and competing directly with Apple Card, Robinhood, and Affirm.