Robinhood has agreed to fork out $45 million to settle an investigation by the Securities and Exchange Commission over several alleged violations, reported the Wall Street Journal on Monday. The settlement is being made via two of Robinhood’s brokerage units. One of the violations relates to Robinhood’s November 2021 confirmation that it was hacked “with…
Category: Fintech
acquisition, clearwater, clearwater analytics, enfusion, Enterprise, finance, Fintech, Fundraising, Global IT News, Global Security News, investment management, portfolio management
Clearwater agrees to buy investment management platform Enfusion for $1.5B
Clearwater Analytics, a company developing accounting, compliance, and risk reporting tools for asset managers, said on Monday it has entered into a definitive agreement to acquire investment management platform Enfusion for $1.5 billion. Clearwater, which says it has obtained an $800 million loan to fund the transaction, along with a $200 million revolving line of…
acquisition, AI, cape analytics, Fintech, Fundraising, geospatial, Global IT News, Global Security News, insurance, Moody’s, Startups
Moody’s agrees to acquire Cape Analytics, which develops geospatial AI for insurance providers
Financial services firm Moody’s announced on Monday that it has agreed to acquire Cape Analytics, a geospatial AI startup, for an undisclosed sum. The deal, which is expected to close in Q1, subject to customary closing conditions, will give Moody’s access to Cape’s geospatial AI analytics technology for insurance underwriting. With the tech, Moody’s plans…
Canada, corporate cards, expense management, Fintech, float financial, Fundraising, Global IT News, Global Security News, Goldman Sachs, Startups
Float Financial, which aims to be the Brex of Canada, lands US$48.5M Series B
Float Financial, an expense management and corporate card startup focused on the Canadian market, has raised $48.5 million in a Series B funding round. The Toronto-based fintech likens itself to U.S.-based fintech giants Brex and Ramp but says it is different in that its sole focus is on Canadian SMBs, which CEO and co-founder Rob…
Fintech, Global IT News, Global Security News, groww, India, IPO, TC
Groww, India’s biggest trading app, prepares for IPO
Groww, India’s largest retail stockbroker, is positioning itself to file for an IPO in 10-12 months and is seeking a valuation between $6 billion to $8 billion, sources familiar with the matter told TechCrunch, in what would be a landmark listing for the country’s fintech sector. The Bengaluru-headquartered’s listing would be the first IPO by…
bench, Employer.com, Exclusive, Fintech, Global IT News, Global Security News, Startups
Bench customers are now being forced to hand over their data or risk losing it, they say
After accounting startup Bench abruptly shut down on December 27 and was bought in a fire-sale by Employer.com, Bench customers are now learning they can’t easily just take their financial data and leave. And some are very unhappy about it, three customers told TechCrunch. To recap: When Bench, a startup based in Canada that raised…
Fintech, Global Security News, Government & Policy, India, Mastercard, Rupay, TC, visa
India’s payment push is cutting out Visa and Mastercard
As global regulators increase their scrutiny on Visa and Mastercard over merchant fees, India has chosen a different path: creating rival payment networks that are increasingly sidelining international card networks. The strategy builds on India’s Unified Payments Interface, known as UPI, a nine-year-old system that now processes more than 13 billion real-time transactions monthly, or…
cross-border payments, Fintech, Global IT News, Global Security News, nomupay, payments, wirecard
Nomupay raises $37M on a $200M valuation to build payment rails in underserved markets across Asia
Wirecard, a German fintech that raised hundreds of millions of dollars only to collapse in 2020 in a sea of scandal and insolvency, still makes headlines today as lawsuits continue against different entities and people once connected to the business. Meanwhile, a Dublin-based startup called Nomupay that was formed in 2023 out of some of…
bench, Fintech, Global IT News, Global Security News, TechCrunch Fintech
What the heck happened at fintech Bench?
Welcome to TechCrunch Fintech! It’s good to be back. This week, we’re looking at the wild ride that was Bench’s shutdown and acquisition; dozens of companies that are hiring in the fintech space; lawsuits against PayPal; an IPO update; and more! This edition is a bit longer than normal since we were on a hiatus…
Employer.com, Fintech, Global IT News, Global Security News, Level, Startups
Employer.com offers to buy failed fintech Level, a week after it makes offer for Bench
Employer.com has offered to acquire Level, a fintech startup that just last week abruptly shut down after failing to find a buyer, according to The Information. But Level is still mulling over the offer, its Employer.com CMO Matt Charney told TechCrunch. “It’s with legal,” he said. Founded in 2018 by early Square employee Paul Aaron,…
accounting, AI, bain capital ventures, bench, Exclusive, Fintech, Global IT News, Global Security News, Shopify, Startups
Inside the wild fall and last-minute revival of Bench, the VC-backed accounting startup that imploded over the holidays
Friday, December 27, was supposed to be the start of a relaxing holiday weekend. But it was chaos for thousands of small business owners who use Bench, an accounting and tax startup based in Canada that raised $113 million from investors like Bain Capital Ventures and Shopify. That morning, they found themselves unable to log…
evergreens, Fintech, fintech startup, Global IT News, Global Security News, Layoffs, Startups
These fintech companies are hiring in 2025 after a turbulent year
While the rapid pace of funding has slowed, many fintechs are continuing to see growth and expand their teams. © 2024 TechCrunch. All rights reserved. For personal use only.
Fintech, Global IT News, Global Security News, SafeSend, thomson reuters
Thomson Reuters acquires tax automation company SafeSend for $600M
Thomson Reuters has acquired tax automation company SafeSend in an all-cash transaction valued at $600 million. Founded in 2008, Ann Arbor, Michigan-based SafeSend serves a cloud-based platform designed to streamline the processing and sharing of sensitive financial documents. It provides tools for delivering tax returns, gathering e-signatures, collecting payments, automating workflows, meeting compliance obligations, and…
copytrading, Crypto, event contract, Fintech, futures, Global IT News, Global Security News, prediction market, Robinhood, Vlad Tenev
Robinhood, already a ‘comeback’ stock, has even more aggressive plans for 2025
Robinhood CEO Vlad Tenev has a lot to celebrate this holiday season. After a bumpy few years following Robinhood’s 2021 IPO — a period during which shares of the commission-free trading app plummeted by more than 90% after it abruptly restricted trading in some meme stocks — the 12-year-old company was just declared Yahoo Finance’s…
Fintech, Global IT News, Global Security News, Google, Google Pay, India, NPCI, Paytm, PhonePe, Walmart
India again delays rules to break PhonePe-Google Pay duopoly
India has once again pushed back a contentious plan to limit big technology companies’ control of the nation’s digital payments system, extending a regulatory uncertainty that has weighed on the sector for years. The National Payments Corporation of India said on Tuesday it would extend the deadline for implementing a 30% cap on any individual…
Apps, Fintech, Global IT News, Global Security News, India, WhatsApp, WhatsApp Pay
India lifts WhatsApp payment curbs
India has removed restrictions on WhatsApp’s mobile payments service in a significant victory for Meta in its largest market by users as it seeks to compete with entrenched fintech rivals. The National Payments Corporation of India, the payments body overseeing the popular UPI payments network, said Tuesday that WhatsApp can now roll out WhatsApp Pay…
Fintech, Global IT News, Global Security News, Google, Government & Policy, India, NPCI, Paytm, PhonePe, Walmart
India’s mobile payments dilemma
India’s payments regulator is set to decide as early as Monday whether to curb the dominance of Walmart’s PhonePe and Google in the nation’s fast-growing mobile payments market, a move that could reshape how its billion-plus population moves money. The decision centers on UPI, or Unified Payments Interface, a network backed by more than 50…
Africa, Fintech, Global IT News, Global Security News, MNT-Halan, moniepoint, Opay, TymeBank, Wave
Africa’s newest fintech unicorns are winning by keeping their feet on the ground
Africa’s tech ecosystem just got a boost of attention, with South Africa’s TymeBank and Nigeria’s Moniepoint both raising funds in recent weeks at valuations of over $1 billion and joining the coveted unicorn pantheon. But those valuations don’t just reflect investor confidence. They signal the success they’ve had in taking disruptive fintech models originally developed…
accounting, bain capital ventures, bench, Fintech, Global IT News, Global Security News, SaaS, Startups, Venture
Bench shuts down, leaving thousands of businesses without access to accounting and tax docs
Bench, a Canada-based accounting startup that offered software-as-a-service for small and medium businesses, has abruptly shut down, according to a notice posted on its website. “We regret to inform you that as of December 27, 2024, the Bench platform will no longer be accessible,” the notice reads. “We know this news is abrupt and may…
Financing, Fintech, Global IT News, Global Security News, MENA, rbf, Startups
Revenue-based financing startups continue to raise capital in MENA, where the model just works
In an era where it’s become tougher to raise venture capital, many companies have turned to non-dilutive, Revenue-Based Financing (RBF) as an alternative. As a result, plenty of startups have risen to meet that challenge, none more so than in the MENA region, which has taken to the model like a duck to water. The…
Exclusive, Fintech, Global IT News, Global Security News, TBC Bank Uzbekistan, TBC Group, Uzbekistan
Uzbekistan’s mobile bank TBC bags $37M to expand with new AI and insurance products
Uzbekistan’s mobile-exclusive bank, TBC Bank Uzbekistan, has raised $37 million to bolster its footprint in the Central Asian nation. © 2024 TechCrunch. All rights reserved. For personal use only.
Chime, digital banking, Fintech, Global IT News, Global Security News, IPOs, IPOs 2025, Startups
$25 billion valuation Chime takes another step towards an IPO
Digital bank Chime has reportedly filed its confidential IPO paperwork with the SEC, with an eye toward a 2025 debut. © 2024 TechCrunch. All rights reserved. For personal use only.
Fintech, funding societies, Fundraising, Global IT News, Global Security News, SoftBank Vision Fund 2, Southeast Asia
‘We want to pay it forward’: Funding Societies raises $25M to boost capital for SMEs in Southeast Asia
Small and medium-sized enterprises (SMEs) account for nearly 50% of Southeast Asia’s GDP, contributing to job creation, innovation, and overall economic expansion. Nevertheless, as in other parts of the world, SMEs in Southeast Asia face challenges when it comes to sufficient working capital. In a nutshell, SMEs are typically deemed too risky for traditional banks…
Fintech, Fundraising, Global IT News, Global Security News, India, Mobikwik
India’s MobiKwik surges 82% in market debut
Shares in digital payments firm MobiKwik surged 82% to ₹507.5 ($6) on their first day of trading, as the Indian fintech company made its market debut amid fierce competition from larger rivals. The listing pushed MobiKwik’s market value to $464 million, well above its initial target of $250 million for the public offering. The valuation…
block, bob lee, Cash App, Fintech, Global IT News, Global Security News, TC
Bob Lee verdict: Cash App creator’s killer found guilty of second-degree murder
A San Francisco jury has found Nima Momeni guilty of second-degree murder in the stabbing of Bob Lee, the Cash App creator and former CTO of Block, according to NBC News Bay Area on Tuesday. The jury found Momeni not guilty of first-degree murder, meaning jurors decided the murder of Lee was not premeditated. Lee…
block, bob lee, Cash App, Fintech, Global IT News, Global Security News, TC
Cash App creator Bob Lee’s killer found guilty of second-degree murder
A San Francisco jury has found Nima Momeni guilty of second-degree murder in the stabbing death of Bob Lee, the Cash App creator and former CTO of Block, according to NBC News Bay Area on Tuesday. The jury found Momeni not guilty of first-degree murder, meaning jurors decided the murder of Lee was not premeditated.…
Fintech, Global IT News, Global Security News, juicyway, mynt, stablecoin, TechCrunch Fintech, Upvest
This fintech processed $1B in payments through word-of-mouth
Welcome to TechCrunch Fintech! This week, we’re diving into: P.S. We’re taking time off for the holidays! TechCrunch Fintech scribe Mary Ann Azevedo will be back in your inbox on January 7. ❄️ The big story How stablecoin technology can power billions in cross-border transactions Juicyway is an African fintech that’s leveraging stablecoin technology to…
Apps, AstroPay, Fintech, foreign exchange, Global IT News, Global Security News, LATAM, multi-currency wallet, payment, Startups
Popular LatAm digital payment service AstroPay launches multi-currency wallet
AstroPay has been around since 2009. The bootstrapped company currently has 320 employees and is profitable. And yet, it’s not a name that comes up often in startup news. The company originally started its life as a payment service provider focused on Latin America — an alternative payment method that you would find next to the…
Bitcoin, Crypto, ethereum, Fintech, Global IT News, Global Security News, HRIS, Remote, USDC
Remote enables USDC crypto payouts for contractors
Getting paid in cryptocurrencies may sound like a bad idea, but this could be an actually useful feature for international contractors. Remote, the company that lets you hire people and manage contractors all around the world, is introducing crypto payouts on Tuesday. Companies based in the U.S. can start paying their contractors with stablecoins in…
Fintech, Fundraising, Global IT News, Global Security News, payments, volume
While some account-to-account payments players falter, Volume raises fresh cash
Online merchants can usually pay up to 8% of every sale on an item to companies like PayPal, Apple Pay, and Stripe — and those costs are usually passed to consumers. So-called ‘account-to-account’ or ‘A2A’ payments can cut transaction fees to below 1%, saving merchants and consumers quite a bit of cash. The difficulty has been…
aye finance, Fintech, Global IT News, Global Security News, India, IPOs, Startups
Alphabet-backed Indian lender files for IPO
Alphabet’s CapitalG-backed Aye Finance, a lender focused on India’s micro, small, and medium enterprises, is seeking to raise $171 million from its initial public offering, it disclosed in a filing Tuesday. The offering comprises a $104 million fresh share issue and a $67 million secondary sale by existing investors, with proceeds aimed at expanding the…
Fintech, Global IT News, Global Security News, nubank, tyme, TymeBank
Nubank leads $250M round in African digital bank Tyme at $1.5B valuation
Tyme Group, a South African-born fintech operating in the African country and the Philippines, has secured $250 million in a Series D round, pushing its valuation to $1.5 billion. The funding was led by Nu Holdings (which owns NuBank), Latin America’s most valuable fintech, which invested $150 million for a 10% stake. M&G Catalyst Fund…
Africa, Crypto, Fintech, Global IT News, Global Security News, juicyway, stablecoin, Startups
This stealthy African stablecoin startup already processed over $1B in cross-border payments
Juicyway, an African fintech that leverages stablecoin technology to power fast and cheap cross-border payments, is launching out of stealth after processing over $1 billion in transaction volume for thousands of African businesses over the last three years. The fintech claims to have processed over 25,000 transactions, generating $1.3 billion in total payment volume (TPV)…
cybercriminals, Cybersecurity, Data Security, Europe, Fintech, Global Security News, iam, Identity & Access, identity access manager, Security Awareness, Security Boulevard (Original), Social - Facebook, Social - LinkedIn, Social - X
Digital Finance: How Do Banks Protect Their Customers’ Money and Data from Cybercriminals?
Cybercriminals are employing increasingly sophisticated methods to access our money and data, making this issue particularly relevant for large European banks, where significant financial assets are concentrated. The post Digital Finance: How Do Banks Protect Their Customers’ Money and Data from Cybercriminals? appeared first on Security Boulevard.