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April 14, 2022

On the web

Stripe Teams up With Major Tech Companies to Commit $925 Million Toward Carbon Capture


“Online payments-technology provider Stripe is teaming up with several other companies, including Google parent Alphabet and Facebook parent Meta , to commit nearly $1 billion in spurring the carbon-capture market. On Tuesday the companies announced the creation of Frontier , which plans to purchase $925 million worth of permanent carbon removal from companies that are developing the technology over the next nine years.   Frontier will be a wholly owned subsidiary of Stripe. Alphabet, Meta, e-commerce platform Shopify and consulting giant McKinsey are chipping in — and committing to purchase some of the carbon-capture solutions.”

Mercuryo Taps Volt for Open Banking Payments

Finextra Research

“Mercuryo, a leading crypto payments company, has launched open banking payments within their cryptocurrency wallet, used by over two million global customers. The real-time account-to-account payments (A2A) will be facilitated by leading open payments gateway Volt and will provide Mercuryo wallet users, alongside their business partners, with single-click payment solutions via fiat.”

Wagestream, a Financial Super App for Waged Workers, Raises $175M, Passes 1M Users and Doubles Down on the U.S.


“Front-line workers and those paid in hourly wages rather than salaries have become a prime target in the world of business IT, with a wave of apps helping them find jobs, do their jobs, communicate with each other better. In the latest development, a U.K. startup building what it describes as a financial super app specifically for waged workers and their financial well-being is announcing a round of funding to double down on its strategy. Wagestream , known best for working with employers to enable salary advances for employees by way of an app, has raised $175 million, money that it will use to continue adding in more features to the app, and to fuel a big push into the U.S. market. “We are trying to solve workers’ financial pains,” said Peter Briffett, the CEO who co-founded the company with Portman Wills (CTO). “We’re building a positive route for frontline workers, who can now have $60,000 to $70,000 in savings for the first time.””

On the wires

Cross River Partners with Revolut to Deliver More Affordable Access to Credit


“Cross River Bank (Cross River), a technology infrastructure provider that offers embedded financial solutions, today announced that it has partnered with Revolut, a global financial superapp with over 18 million customers worldwide, to build and scale Revolut’s business in the U.S. leveraging Cross River’s technology and regulatory infrastructure.The partnership will open up the first U.S.-based consumer personal loans for Revolut customers thanks to Cross River’s technology infrastructure, with additional credit offerings slated to launch in the coming months. Cross River’s platform, technology and regulatory expertise will further expand access to financial services to customers across the country and enable Revolut to scale and expand across business verticals including credit.”

Nayax and American Express Partner to Enable Payments in UK


“Nayax Ltd. (TASE: NYAX), a global commerce enablement and payments platform designed to help merchants scale their business, is proud to announce an integration partnership with American Express across EEA & UK markets. Nayax UK will be the first office to implement this change in the UK, across all Nayax VPOS Touch and Onyx cashless payment devices installed across unattended industries, including vending, self-service laundromats, kiddie rides, office coffee services, automated car washes, and more. This will enable Nayax retailers to accept American Express® Cards for all purchases and services.”

April 13, 2022

On the web

Celebrities Toss $87 Million to Crypto-Payments Company MoonPay


“More than 60 musicians, actors and other personalities collectively offered about $87 million in the firm’s latest round of funding, MoonPay said in a press release Wednesday. Late last year, the startup raised $555 million in a Series A round led by Tiger Global Management and Coatue Management that valued the company at $3.4 billion…MoonPay describes itself as a sort of PayPal for the crypto economy, enabling transactions between individuals and crypto firms, such as purveyors on nonfungible tokens, or NFTs. It’s designed to allow users to buy and sell digital assets and NFTs via credit and debit cards; Apple, Google or Samsung Pay; or bank accounts.”

April 12, 2022

On the web

On the wires

Circle Announces $400M Funding Round

“Circle Internet Financial, a global internet finance firm and the issuer of USD Coin (USDC), today announced it has entered into an agreement for a $400M funding round with investments from BlackRock, Inc., Fidelity Management and Research, Marshall Wace LLP and Fin Capital. The funding round is expected to close in the second quarter. In addition to its corporate strategic investment and role as a primary asset manager of USDC cash reserves, BlackRock has entered into a broader strategic partnership with Circle, which includes exploring capital market applications for USDC.”

April 11, 2022

On the web

Sequoia-backed SwooshTransfer Raises Millions of Dollars to Automate Cross-border Payments


SwooshTransfer , which recently received an angel funding round of “several million dollars” from investors, including Sequoia China and K2VC, is one of the new players trying to make international transactions easier for Chinese businesses and beyond. The company declined to disclose the exact funding amount. After a decade at Alibaba and its fintech affiliate giant Ant Group, Max Ma founded SwooshTransfer in 2021 to facilitate cross-border payments for small- and medium-sized enterprises, as well as individuals such as overseas students, for whom tuition payments are often a hassle. The firm’s main strength, Ma told TechCrunch, is applying technology to automate transactions, helping customers reduce costs as well as risks.”

April 7, 2022

On the web

WSJ News Exclusive | Crypto Startup Wyre Being Acquired by Payments Company Bolt for $1.5 Billion

Wall Street Journal

“Bolt Financial Inc., a payments-focused financial technology company, is acquiring crypto-services startup Wyre Payments Inc., according to people familiar with the matter. The acquisition is valued at around $1.5 billion, according to the people. That would make it the largest merger in the crypto sector that didn’t involve a blank-check company , or so-called SPAC, according to data from research firm Dealogic. In May 2021, Galaxy Digital Holdings Ltd. agreed to acquire BitGo Inc. for $1.2 billion .”

April 4, 2022

On the wires

Klarna Completes Acquisition of PriceRunner

“Klarna, a leading global retail bank, payments, and shopping service today announced the completion of its acquisition of PriceRunner, the leading comparison shopping service in the Nordic region with operations in Sweden, Denmark, Norway and the United Kingdom.”

April 1, 2022

On the web

On the wires

Worldline Announces the Closing of Its Major Strategic Commercial Acquiring Alliance With ANZ Bank in Australia

“Worldline [Euronext: WLN], a global leader in the payments industry, today announces the completion of the acquisition of a controlling stake in the commercial acquiring business of ANZ and the creation of a 51%-49% joint-venture controlled by Worldline to operate and develop commercial acquiring services in Australia with ANZ Bank, one of the largest banks in Asia-Pacific and Australia’s 3rd largest acquirer with a c. 20% share of transaction volumes processed in Australia.”

March 31, 2022

On the web

Blockchain.com Raises New Funding at $14 Billion Valuation


“Startup Blockchain.com said it raised new funding that values the company at about $14 billion, more than doubling its worth in a sign that cryptocurrency firms still enjoy the favor of investors in turbulent venture capital markets. The financing round, which vaults Blockchain.com into the ranks of the most valuable crypto companies, was led by Lightspeed Venture Partners with major participation from Baillie Gifford & Co , Blockchain.com said. Representatives for Lightspeed and Baillie Gifford didn’t immediately respond to requests for comment.”

March 30, 2022

On the web

IPO-bound Pine Labs Raises $50 Mn From Vitruvian Partners


“Pine Labs’ solutions are used by merchants from across industries such as electronics, food and beverage, fashion, pharmacy, telecom and airlines, but these are mostly offline players. The company is also planning to ramp up its online platform, both by organic and inorganic means.”

March 29, 2022

On the wires

Papaya Global to Acquire Digital Cross-Border Payments Service Azimo, Making Payments Instant and Unbound by Geography

Papaya Global , the global people management platform for the remote working era, announced today that it has agreed to acquire Azimo , the global digital cross-border payments service, making it possible to pay employees almost instantly regardless of geography and typical payroll limitations. The acquisition of Azimo will significantly expand Papaya’s capabilities in payroll payments and strengthen its promise to help companies smoothly manage their remote workforce from onboarding to payments.”

March 28, 2022

On the web

March 25, 2022

On the wires

Mitek Acquires UK-based HooYu in All Cash GBP 98 Million Deal

“Mitek (NASDAQ: MITK), a global leader in digital identity (ID) verification and fraud prevention, today announced the acquisition of UK’s leading KYC (know your customer) technology pioneers, HooYu. The acquisition helps to ensure businesses know the true identity of their customers by linking biometric verification with real-time bureau and sanction database checks.”

March 23, 2022

On the web

Lloyds Partners ProjectPay to Streamline Construction Sector Payments

Finextra Research

“Lloyds Bank has joined forces with ProjectPay to help tackle missed and delayed payments in construction supply chains. ProjectPay’s SaaS building and construction payment platform promises to help all levels of the supply chain get paid at the same time, removing contractors’ insolvency risk, speeding up payments to contractors and tradespeople and improving cashflow.”

On the wires

Nordigen Signs Payment Reply for Open Banking

Finextra Research

“Payment Reply has joined up with freemium open banking platform Nordigen for direct bank account connections. Payment Reply is an automated system for small and medium-sized enterprises to keep track of invoicing and notify their customers with receipts when payments are received. The connection with Nordigen enables the platform’s clients to connect their bank accounts for Payment Reply to take over and stay on top of incoming transactions.”

Apple Acquires UK Open Banking Startup Credit Kudos

The Block

“Credit Kudos, a UK open banking startup that helps lenders make better decisions, has been acquired by US tech giant Apple. The deal closed earlier this week, according to three people close to the deal. One source said it valued the startup at about $150 million, a significant uplift in valuation. A link labeled ‘Website Terms of Use’ on the Credit Kudos website currently leads to a page outlining Apple’s terms of use. Both Credit Kudos and Apple were contacted for comment but did not respond by press time.”

March 22, 2022

On the web

Fintech Startup Jeeves Raises $180M, Quadruples Valuation to $2.1B in Half a Year


“Less than seven months after closing on a $57 million Series B , fast-growing fintech Jeeves has raised $180 million in a Series C round that values the company at $2.1 billion. Financial technology companies raising multiple rounds in a short period of time has become more the norm than an exception as of late. Still, the velocity of Jeeves’ growth and increase in valuation is impressive. When it raised in September, Jeeves — which describes itself as “an all-in-one corporate card and expense management platform for global startups” — was valued at $500 million. This means it has quadrupled in value in just over six months. It’s also notable that Jeeves only publicly launched in March of 2021, and officially emerged from stealth last June with $31 million in equity financing and $100 million in debt. In the summer of 2020, Jeeves was a participant in Y Combinator’s summer cohort.”

On the wires

FreedomPay Enables Sephora to Deliver Next Level Mobile POS Platform for Enhanced Consumer Experience Across the Americas


FreedomPay , the world’s leading commerce platform, announces partnership with Sephora USA, Inc. the leading prestige beauty omni-retailer, to integrate FreedomPay’s data-driven commerce technology platform in Sephora’s 500 plus stores across the Americas. “FreedomPay is proud to announce the agreement with Sephora, to provide a world class experience to its millions of customers across the Americas,” said Chris Kronenthal, President at FreedomPay. “Our suite of touchless commerce and data solutions will enable Sephora to provide customers a fast, frictionless, and innovative consumer experience.””

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