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Moniepoint Launches MonieWorld: Aiming to Redefine Immigrant Banking

Moniepoint Launches MonieWorld: Aiming to Redefine Immigrant Banking

Nigerian fintech Moniepoint has launched MonieWorld, targeting the UK-Nigeria remittance corridor. Backed by Visa, the platform seeks to offer more than just remittances, positioning itself as a comprehensive banking solution for immigrants. CEO Tosin Eniolorunda highlights the need for improved financial tools that help newcomers build credit and stay connected with family. Despite entering a saturated market, Moniepoint believes its existing infrastructure and cultural understanding will set it apart. The fintech aims to expand to other diasporas in North America, seeking to diversify its operations beyond Nigeria.

Created at: April 16, 2025 9:00am

Marshmallow Secures $90M Funding to Expand Financial Services for Migrants

Marshmallow Secures $90M Funding to Expand Financial Services for Migrants

U.K. insurtech startup Marshmallow has raised $90 million, achieving a valuation of over $2 billion. The company specializes in car insurance for immigrants and plans to broaden its offerings to include loans and home insurance. With a million drivers insured and an annual revenue run rate of $500 million, Marshmallow aims to support the growing migrant population in the U.K. CEO Oliver Kent-Braham emphasizes the startup's commitment to inclusivity and diversity in its leadership. The funding round was led by Portage Capital, alongside notable investors like BlackRock.

Created at: April 15, 2025 6:00am

Stripe CEO Promotes Customer Engagement Strategy in Management Meetings

Stripe CEO Promotes Customer Engagement Strategy in Management Meetings

Stripe co-founder Patrick Collison revealed that the fintech company invites customers to participate in management meetings bi-weekly for candid feedback. This initiative aims to generate fresh insights among Stripe's leaders, despite already existing feedback mechanisms. The company's valuation has reached $91.5 billion, showcasing its significant growth and influence in the fintech space. Collison's recent letter highlighted a 38% increase in payment volume to $1.4 trillion in 2024. While some smaller businesses feel overlooked, others praised the strategy, with Elon Musk endorsing the approach on social media.

Created at: April 10, 2025 11:00pm

Solid, the 'AWS of Fintech', Files for Chapter 11 Bankruptcy

Solid, the 'AWS of Fintech', Files for Chapter 11 Bankruptcy

Solid, a banking-as-a-service startup, has filed for Chapter 11 bankruptcy after raising nearly $81 million since its founding in 2018. Once valued at $330 million, the company struggled to secure additional capital and faced costly litigation, including a lawsuit from its Series B investor, FTV Capital. Co-founder Arjun Thyagarajan expressed optimism about a court-supervised sale process. Solid's financial woes have left it with approximately $7 million in cash and only three employees. The company aims to restructure while continuing operations during this process.

Created at: April 9, 2025 11:30pm

Stripe's Banking License Application Clarified: No Deposits, Just Payment Processing

Stripe's Banking License Application Clarified: No Deposits, Just Payment Processing

Stripe has submitted its first application for a U.S. banking license, sparking speculation about the fintech giant's expansion into banking. However, the license, if approved by Q3 2025, will not allow Stripe to accept deposits but will enable it to process its own payments. This move aims to enhance Stripe's resilience against service disruptions from partner banks, particularly following the exit of Wells Fargo from BIN sponsorship. A Stripe spokesperson emphasized the strategic need for broader banking options to support users amid its growing business.

Created at: April 8, 2025 8:00pm

Rain Secures $75M Series B to Enhance Fintech Offerings

Rain Secures $75M Series B to Enhance Fintech Offerings

Los Angeles-based fintech startup Rain has successfully raised $75 million in a Series B funding round led by Prosus, achieving a valuation of $340 million. The funds will be utilized to introduce credit card and savings products, enhancing their earned wage access (EWA) app, which already serves over 2.5 million employees. Rain aims to differentiate itself in a competitive market by offering financial wellness features like coaching and tax services. The startup plans to launch an EWA-secured credit card and expand its offerings to include Health Saving Accounts and savings accounts later this year.

Created at: April 8, 2025 3:00pm

Frank Rotman of QED Investors Shifts Focus to Music Startups

Frank Rotman of QED Investors Shifts Focus to Music Startups

Frank Rotman, co-founder of QED Investors, will step down to pursue his own startups, including ventures in the music industry, as confirmed in a recent X post. After nearly two decades at QED, where he played a pivotal role in numerous fintech investments, Rotman plans to transition to a partner emeritus position by January 1, 2026. He also intends to write a book about his insights on startups and venture capital. QED will promote Amias Gerety to lead its U.S. investment team, ensuring continuity of operations.

Created at: March 28, 2025 9:30pm

Twin Launches AI-Powered Invoice Retrieval Agent in Partnership with Qonto

Twin Launches AI-Powered Invoice Retrieval Agent in Partnership with Qonto

Twin, a Paris-based startup, has unveiled its first AI agent, Invoice Operator, designed to streamline invoice retrieval for Qonto's customers. This innovative automation tool addresses the challenges faced by users who spend hours managing invoices. With the ability to fetch transactions and download invoices seamlessly, Twin's solution is positioned as a more efficient alternative to traditional RPA and API-based products. Utilizing OpenAI's CUA model, Invoice Operator simplifies the user experience, requiring minimal technical knowledge. Twin aims to expand the capabilities of AI agents across various industries, enhancing B2B operations.

Created at: March 27, 2025 5:30pm

Abound Secures $14M to Transform Remittance for Indian Americans

Abound Secures $14M to Transform Remittance for Indian Americans

Abound, a remittance app spun off from Times Internet, has raised $14 million in its inaugural funding round to enhance services for Indian expats in the U.S. The app facilitates money transfers to India, with an emphasis on rewards and cashback offers. CEO Nishkaam Mehta highlighted the wealth of Indian Americans, stating they are underserved by existing financial products. With over $150 million processed in remittances, Abound plans to expand its offerings and tech infrastructure while targeting markets like Canada and Singapore. Times Internet remains the largest stakeholder, supporting Abound's growth.

Created at: March 27, 2025 12:00pm

Mercury Secures $300M in Sequoia-Led Series C, Valuation Surges to $3.5B

Mercury Secures $300M in Sequoia-Led Series C, Valuation Surges to $3.5B

Fintech startup Mercury has raised $300 million in a Series C funding round led by Sequoia, boosting its valuation to $3.5 billion. This marks a significant increase from its previous $1.62 billion valuation after a Series B round in 2021. The funding will support Mercury's continued growth, which includes reaching $500 million in revenue and achieving 10 consecutive quarters of profitability. The company now serves over 200,000 customers, boasting a 40% year-over-year growth rate. Mercury plans to explore acquisitions with the new capital.

Created at: March 26, 2025 5:30pm

Jack Dorsey Announces Layoffs Affecting 931 Employees at Block

Jack Dorsey Announces Layoffs Affecting 931 Employees at Block

Fintech company Block, co-founded by Jack Dorsey, has laid off 931 employees as part of an organizational restructuring. In an email to staff, Dorsey detailed that the layoffs are categorized into three groups: 391 for strategic reasons, 460 for performance issues, and 80 management positions to streamline operations. He emphasized that these cuts are not driven by financial targets or AI replacements. Additionally, Block is closing 748 open roles while maintaining essential positions. This marks the second round of significant layoffs for the company in recent months.

Created at: March 25, 2025 11:00pm

Ex-Network International Executives Launch Enza with $6M Seed Funding

Ex-Network International Executives Launch Enza with $6M Seed Funding

Enza, a new fintech startup founded by former Network International executives, has successfully raised $6 million in seed funding. Based in Dubai, Enza aims to provide comprehensive local payment solutions for banks and fintechs across Africa, focusing on underserved markets. The platform facilitates both payment acceptance and issuance, targeting Egypt, Nigeria, and South Africa. Leveraging their extensive industry experience, the founders seek to enhance banks’ competitiveness against rising fintechs. With over 10 million contracted transactions monthly, Enza is set for rapid growth as it expands its banking clientele across the continent.

Created at: March 24, 2025 8:30am

ClearGrid Raises $10M to Revolutionize Debt Collection with AI in MENA

ClearGrid Raises $10M to Revolutionize Debt Collection with AI in MENA

ClearGrid, a Dubai-based startup, has emerged from stealth with $10 million in funding to modernize debt collection in the MENA region using AI. Founded in May 2023, the company aims to enhance recovery for banks and fintechs while avoiding customer harassment. Co-founder Mohammed Al Zaben emphasized the need for innovation in an outdated industry. ClearGrid's platform automates collections and personalizes outreach, boasting a 50% reduction in collection costs. The startup is already profitable in the UAE and plans to expand into Saudi Arabia, targeting significant revenue growth in the coming year.

Created at: March 20, 2025 4:30am

Multiply Mortgage Secures $23.5M Series A to Revolutionize Home Financing

Multiply Mortgage Secures $23.5M Series A to Revolutionize Home Financing

Multiply Mortgage, a Denver-based startup, has raised $23.5 million in a Series A funding round led by Kleiner Perkins. Founded in 2022, the company aims to provide mortgage benefits as part of employee financial wellness programs. With mortgage rates exceeding 6.5%, Multiply offers valuable services, including personalized mortgage advice and discounts on interest rates. The startup has already assisted nearly 100 individuals in financing their homes and plans to expand its team and platform. CEO Michael White emphasizes the need for innovative solutions in an increasingly challenging homeownership market.

Created at: March 19, 2025 3:30pm

Klarna Secures Walmart Partnership, Elevating IPO Prospects

Klarna Secures Walmart Partnership, Elevating IPO Prospects

Swedish fintech giant Klarna has announced an exclusive partnership with Walmart to provide buy now, pay later loans, a service previously held by rival Affirm. This strategic move comes as Klarna is preparing for its IPO, while Affirm's stock dropped by 8% following the news. Klarna's majority stake in fintech startup OnePay will facilitate the loan services for Walmart customers. The partnership is expected to significantly increase Klarna’s market presence in the U.S., with projections indicating a 28% boost in gross merchandise value from just 5% of Walmart's U.S. volume.

Created at: March 17, 2025 6:30pm

Bench Customers Claim Charges for Prepaid Services Amid Ownership Change

Bench Customers Claim Charges for Prepaid Services Amid Ownership Change

Customers of the accounting startup Bench, recently acquired by Employer.com, are alleging they are being charged for services they already paid for. CEO Jesse Tinsley had promised to honor prior payments, but a lawsuit claims otherwise, stating that customers must pay again for services like tax returns. Some users reported needing to renew subscriptions for previously prepaid work, contradicting Tinsley's assurances. Employer.com's CMO refuted these claims, stating they honored all pre-paid services. Bench's prior ownership left a trail of financial mismanagement and service delays, culminating in its abrupt shutdown last December.

Created at: March 14, 2025 10:00pm

Ramp Expands into Digital Banking with Launch of Treasury Product

Ramp Expands into Digital Banking with Launch of Treasury Product

Ramp, the fintech startup known for corporate expense management, has launched Ramp Treasury, a new product designed to help businesses earn interest on their cash. CEO Eric Glyman highlighted that this offering allows customers to earn 2.5% interest while keeping funds easily accessible. The startup, which raised over $1.2 billion in funding, emphasizes that it is not a bank but partners with established banks for this service. With over 30,000 customers, Ramp aims to enhance its competitiveness in the crowded fintech space without aspiring to be a traditional digital bank.

Created at: January 22, 2025 2:00pm

Indian Fintech Jar Achieves Cash Flow Positive Status

Indian Fintech Jar Achieves Cash Flow Positive Status

Indian fintech startup Jar has confirmed it has turned cash flow positive, marking a significant milestone as it prepares to enhance its offerings. The company, backed by Tiger Global, reported over 10 times growth last year while expanding its services to include lending and online jewelry sales. Jar's jewelry division, Nek, is generating annualized sales of approximately $13 million. As many Indian startups strive for financial stability ahead of potential IPOs, Jar is also in discussions to raise up to $50 million in a new funding round.

Created at: January 22, 2025 8:30am

MoneyHash Secures $5.2M to Revolutionize Payment Orchestration in MENA

MoneyHash Secures $5.2M to Revolutionize Payment Orchestration in MENA

Egypt's fintech startup MoneyHash has raised $5.2 million in pre-Series A funding, bringing its total funding to over $12 million since its inception in 2021. The company simplifies payment processes for merchants across the Middle East and Africa, targeting larger enterprises with its new suite launched in early 2024. MoneyHash's platform integrates multiple payment providers, addressing high failure rates and operational inefficiencies in the region. Investors include Flourish Ventures and Saudi’s Vision Ventures, highlighting growing interest in fintech solutions for emerging markets.

Created at: January 21, 2025 11:30am

Karmen Raises $9.4 Million to Enhance Instant Financing for SMEs

Karmen Raises $9.4 Million to Enhance Instant Financing for SMEs

French fintech startup Karmen has successfully raised $9.4 million in a funding round aimed at boosting its revenue-based financing products for small and medium enterprises (SMEs). The round, which includes equity and debt, was led by Seventure Partners and supported by Financière Arbevel and Bpifrance. Karmen, which has already assisted around 600 companies in managing their cashflow, offers loans ranging from €20,000 to €3 million. The company plans to enhance its data-driven approach and risk assessment technology using AI to better serve its clients and expand its customer base through embedded financing strategies.

Created at: January 21, 2025 5:30am

Recharge Secures €45M Funding for M&A and Fintech Expansion

Recharge Secures €45M Funding for M&A and Fintech Expansion

Recharge, a leading prepaid payment platform in Europe, has raised €45 million from ABN AMRO to pursue mergers and acquisitions while expanding into fintech services. The company, which has reported a 30% revenue growth in 2024, aims to leverage the funding to consolidate its market position and launch new financial products. CEO Günther Vogelpoel emphasized the desire to evolve into a financial services provider with enhanced privacy and security features. With a growing prepaid card market expected to reach $395 billion by 2028, Recharge is strategically positioned for growth.

Created at: January 16, 2025 10:00am

Hyperline Raises $10 Million to Revolutionize Automated Billing

Hyperline Raises $10 Million to Revolutionize Automated Billing

French startup Hyperline has secured $10 million in funding from Index Ventures to enhance its automated billing platform. The startup aims to simplify billing for recurring subscriptions and usage-based services, addressing common issues faced by growing companies. Founder Lucas Bédout emphasized the demand for automation in invoicing and payment processes. Hyperline offers features like custom pricing and integrates seamlessly with CRMs and accounting software. With plans to expand its workforce from 14 to 25, the company is poised to target larger clients generating significant revenue.

Created at: January 16, 2025 8:00am

SoftBank Veteran Akshay Naheta Bets Big on Payment Infrastructure Innovation

SoftBank Veteran Akshay Naheta Bets Big on Payment Infrastructure Innovation

Akshay Naheta, a SoftBank executive known for bold investments, is launching Distributed Technologies Research (DTR) to modernize global payment systems. The startup aims to bridge traditional banking and blockchain with its technology, AmalgamOS, which can reduce costs and inefficiencies in payments. DTR connects banks to blockchain networks, enabling businesses to streamline transactions while ensuring compliance. With connections to 12,000 banks across Europe, DTR targets businesses facing challenges in the fragmented payment landscape. Naheta's approach emphasizes compliance and institutional credibility as competition heats up in the fintech sector.

Created at: January 15, 2025 11:30am

Former Bench Customers Unhappy Over Data Access Issues After Acquisition

Former Bench Customers Unhappy Over Data Access Issues After Acquisition

After accounting startup Bench shut down and was acquired by Employer.com, many former customers are frustrated by their inability to retrieve financial data. Bench states that customers must grant Employer.com access to their data, as the original entity is in bankruptcy. In related news, Float Financial raised $50 million for its Canadian-focused expense management platform, while Pryce Yebesi launched Open Ledger after selling Utopia Labs to Coinbase. Additionally, NomuPay secured $37 million for expanding cross-border payments, and Moody's is acquiring Cape Analytics.

Created at: January 14, 2025 6:30pm

LemFi Secures $53M Funding to Expand Remittance Services in Asia and Europe

LemFi Secures $53M Funding to Expand Remittance Services in Asia and Europe

LemFi, a London-based fintech platform, has raised $53 million in new funding to bolster its remittance services in Asia and Europe. With over $669 billion in remittance inflows reported in 2023, LemFi aims to tap into this growing market by enhancing customer acquisition and expanding its geographical footprint. The company has seen rapid growth since its 2020 launch, boasting over one million active users and processing $1 billion in monthly payment volume. The Series B round was led by Highland Europe, bringing LemFi's total funding to $85 million.

Created at: January 14, 2025 8:00am

Float Financial Secures US$48.5M Series B Funding to Expand in Canada

Float Financial Secures US$48.5M Series B Funding to Expand in Canada

Float Financial, a Toronto-based fintech startup specializing in expense management and corporate cards for Canadian SMBs, has raised $48.5 million in a Series B funding round led by Goldman Sachs Growth Equity. This funding aims to enhance its product offerings and regional presence. Since its inception in 2020, Float has attracted a total of $92.6 million in venture funding. CEO Rob Khazzam emphasizes the company's unique focus on the Canadian market, countering recent media claims about investment challenges in Canada. The firm sees significant growth with a reported 50x revenue increase since its last funding round.

Created at: January 13, 2025 1:00pm

Groww, India’s Largest Trading App, Eyes Landmark IPO in 2025

Groww, India’s Largest Trading App, Eyes Landmark IPO in 2025

Groww, the leading retail stockbroker in India, is preparing for an IPO within the next 10-12 months, aiming for a valuation of $6 billion to $8 billion. This would mark the first listing of a digital trading platform in India. The company has gained significant traction, boasting 13.2 million active users as of December, far ahead of competitors. Backed by major investors, Groww is currently in discussions with investment banks for its upcoming IPO. India's tech IPO landscape is thriving, with numerous startups planning listings in 2025.

Created at: January 13, 2025 7:00am

Bench Customers Forced to Consent for Data Access After Acquisition

Bench Customers Forced to Consent for Data Access After Acquisition

Following the abrupt shutdown of the accounting startup Bench, customers are voicing frustration as they are compelled to consent to new terms to access their financial data. The company was sold to Employer.com shortly after its closure, leaving many businesses without their accounting documents. Customers report being unable to export their data unless they agree to the updated terms, sparking concerns about the adequacy of Employer.com's privacy policies. Some users are exploring alternative providers due to dissatisfaction with the data transfer process and the handling of refunds for pre-paid services.

Created at: January 10, 2025 10:00pm

Fintech Shock: Bench's Sudden Shutdown and Acquisition Leaves Customers Reeling

Fintech Shock: Bench's Sudden Shutdown and Acquisition Leaves Customers Reeling

Fintech company Bench, which previously raised over $110 million, has unexpectedly shut down, only to be acquired shortly afterward. This abrupt turn of events has left thousands of customers and hundreds of employees bewildered. Affected clients, some with years of data stored on Bench's platform, were blindsided by the news. Meanwhile, Thomson Reuters made headlines by acquiring tax automation firm SafeSend for $600 million. In other fintech developments, TBC Bank Uzbekistan raised $37 million to enhance its digital services and Tyme Group secured $250 million in funding, pushing its valuation to $1.5 billion.

Created at: January 7, 2025 6:31pm

Employer.com Moves to Acquire Failed Fintech Startup Level

Employer.com Moves to Acquire Failed Fintech Startup Level

Employer.com has made an offer to acquire Level, a fintech startup that recently shut down due to unsuccessful acquisition efforts. Level, which raised $30.8 million since its founding in 2018, provided dental and vision benefits but left clients scrambling for alternatives. Employer.com’s CMO confirmed that Level is currently considering the offer. This acquisition proposal follows Employer.com's recent attempt to acquire another failed startup, Bench, which also faced challenges. Details regarding the fate of Level remain uncertain as the deal is still under legal review.

Created at: January 7, 2025 5:00pm

Fintech Sector Sees Hiring Opportunities in 2025 Amidst Challenges

Fintech Sector Sees Hiring Opportunities in 2025 Amidst Challenges

Despite a turbulent 2024 for the fintech sector, which included the shutdown and acquisition of accounting startup Bench, many companies are still hiring as they recover. A recent call for hiring fintech companies yielded over 60 responses, indicating ongoing growth. Although job openings have decreased compared to previous months, several firms report an increase in available positions. This news serves as a resource for those recently laid off or seeking new opportunities in fintech, with regular updates planned for prospective job seekers.

Created at: January 3, 2025 10:00pm

Thomson Reuters Acquires SafeSend for $600M to Enhance Tax Automation

Thomson Reuters Acquires SafeSend for $600M to Enhance Tax Automation

Thomson Reuters has finalized a $600 million acquisition of SafeSend, a tax automation company based in Ann Arbor, Michigan. Founded in 2008, SafeSend offers a cloud-based platform that simplifies the management of financial documents for tax professionals. The acquisition aims to enhance Thomson Reuters' existing tax solutions by integrating SafeSend's technology, which is already utilized by 70% of the top 100 U.S. accountancy firms. SafeSend's recent launch of an AI product, SafeSend One, further aligns with Thomson Reuters' strategy to streamline tax workflows.

Created at: January 2, 2025 4:00pm

Robinhood Plans Aggressive Expansion in 2025 After Comeback Success

Robinhood Plans Aggressive Expansion in 2025 After Comeback Success

Robinhood CEO Vlad Tenev celebrates the company's recognition as Yahoo Finance's 'comeback stock' of the year after overcoming a challenging period post-IPO. With shares rebounding, Tenev is excited about future opportunities, particularly in prediction markets and potential cryptocurrency deregulation. The firm aims to launch event contracts that correlate news with financial markets, tapping into demand for real-time information. As Robinhood expands its product offerings, including wealth management, the company is focused on innovative trading strategies and competitive growth in the fintech space.

Created at: January 1, 2025 4:30pm

India Lifts WhatsApp Payment Curbs, Boosting Meta's Fintech Ambitions

India Lifts WhatsApp Payment Curbs, Boosting Meta's Fintech Ambitions

India has officially lifted restrictions on WhatsApp's payment service, allowing the platform to offer WhatsApp Pay to its entire user base of over 500 million. This decision by the National Payments Corporation of India marks a significant shift in the regulator's approach, removing the previous cap of 100 million users. WhatsApp's expansion comes amid scrutiny of India's UPI platform, which processes over 13 billion transactions monthly and is dominated by Google Pay and PhonePe. This move strengthens Meta's position in the competitive fintech landscape of India.

Created at: December 31, 2024 10:30am

India's Mobile Payments Future Hangs in Balance as Regulator Decides on Market Share Cap

India's Mobile Payments Future Hangs in Balance as Regulator Decides on Market Share Cap

India's payments regulator is poised to rule on limiting market share for major players in the mobile payments sector, specifically targeting Walmart's PhonePe and Google Pay. Currently, PhonePe holds 47.8% and Google Pay 37.1% of UPI transactions, raising concerns about fair competition. The proposed cap would restrict companies to handling no more than 30% of UPI transactions, potentially hindering PhonePe's IPO plans. The decision reflects India's struggle to balance innovation with market equity in its rapidly growing digital economy, which processes over 13 billion transactions monthly.

Created at: December 29, 2024 9:30pm

Africa's Fintech Unicorns Thrive by Embracing Hybrid Banking Models

Africa's Fintech Unicorns Thrive by Embracing Hybrid Banking Models

South Africa's TymeBank and Nigeria's Moniepoint have recently achieved unicorn status, raising significant funds and redefining fintech in Africa. Both companies focus on simplifying banking for unbanked populations, blending digital services with physical touchpoints. TymeBank partners with supermarkets while Moniepoint utilizes a network of agents to provide essential financial services. Their hybrid models cater to the unique needs of their markets, enabling access where traditional banking falls short. With plans for expansion, these fintechs aim to replicate their success in other emerging economies.

Created at: December 29, 2024 3:30pm

CredibleX Secures $55M in Seed Funding to Boost Revenue-Based Financing in MENA

CredibleX Secures $55M in Seed Funding to Boost Revenue-Based Financing in MENA

CredibleX, a revenue-based financing startup, has successfully raised $55 million in a seed round led by Further Ventures. This funding comes amidst a challenging venture capital landscape, particularly for SMEs in the MENA region, where traditional financing is limited. CredibleX partners with large aggregators to provide working capital to SMEs, streamlining loan approval via platforms like Talabat. Since its launch in March 2024, the company has already issued over AED 100 million to SMEs, benefiting from the increasing demand for non-dilutive financing options in high-income countries.

Created at: December 26, 2024 7:03pm

Finix Secures $75 Million to Compete with Stripe in Payment Processing

Finix Secures $75 Million to Compete with Stripe in Payment Processing

Finix has announced a $75 million funding round, marking a significant step in its competition with Stripe. CEO Richie Serna highlighted that transitioning to a payment processor in 2023 was transformative for the company, which has reportedly quadrupled its revenue. With over 24,000 merchants now onboard, Finix aims to enhance its offerings for businesses lacking development resources. The startup plans to expand its team and global reach with this latest investment, led by Acrew Capital, among others, bringing its total funding to $208 million.

Created at: October 24, 2024 2:01pm

Upflow Transforms into B2B Payment Platform, Enhancing Cash Collection

Upflow Transforms into B2B Payment Platform, Enhancing Cash Collection

Upflow, a French startup, is shifting its focus from invoice management to becoming a comprehensive B2B payment platform, introducing its own payment gateway. The company aims to modernize outdated B2B payment methods, which still largely rely on paper checks. Upflow will assist CFOs in transitioning a portion of their clients to online payment methods, promoting financial efficiency. The startup is adopting a hybrid revenue model, integrating SaaS with payment processing revenue using a partnership with Stripe. Future plans include offering financing options and embedded finance solutions for businesses.

Created at: October 24, 2024 6:00am

Paytm Secures Regulatory Green Light to Boost UPI Payments Growth

Paytm Secures Regulatory Green Light to Boost UPI Payments Growth

Paytm has received regulatory approval from the NPCI to resume adding new UPI payments users after an eight-month restriction. The approval comes as Paytm's market share dwindled from 13% to 8% due to central bank limitations. UPI, which facilitates over 15 billion monthly transactions in India, is dominated by PhonePe and Google Pay. Analysts view this development as crucial for reviving Paytm's user growth, which has decreased from 100 million to 68 million. Despite a revenue increase to $197.4 million, year-on-year figures show a decline of 34%. Profit for the quarter rose to $110 million, aided by a one-time gain.

Created at: October 23, 2024 4:00am