Nubank surpasses Revolut, Monzo and N26 combined with 18 million app downloads over the past year
If there was ever any doubt, you best believe that Nubank is growing exponentially fast and won’t be slowing down anytime soon. Making this all the more evident is the fact that the Brazilian fintech unicorn has seen over 18 million app downloads this past year. Based on a report from Apptopia, that’s more than Revolut, Monzo and N26 combined. While these neobanks are prevalent in Europe, Nubank continues to show immense mobile banking potential in developing markets. This is particularly true in Latin America. Like other fintechs, Nubank’s target audience is the region’s population without bank accounts. Latin America’s unbanked population Compared to the U.S. and European markets, Latin Americans […]
How is India’s Fintech space leading in the Asia Pacific
India has been accredited as the world’s second-largest fintech hub, first being the US. This itself is a testimony to the fact that we contribute largely to the fintech boom in the Asia Pacific. As per the report by the Data Labs (Inc42), fintech startups in India raised $3.4 Bn across 174 deals in the first quarter of 2019. The global fintech market is expected to reach $305.7 Bn by 2023, which means that we would be making a substantial contribution to the world economy. There are several factors that help in the surge of fintech startups in a country, the top-ranking reason being the untapped space in the regional […]
Landbay says October was record month
Fast-growing Fintech Landbay says October was a great month for the real estate peer to peer lending platform. Without providing any details, Landbay tweeted out the news. Earlier this year, Landbay reported that a “leading financial institution” had committed to funding £1 billion in buy to let mortgages originated on the site. This may have something to do with its growth. Landbay offers investors the opportunity to invest in loans to buy-to-let landlords. All loans are secured by first‐ranking mortgages over tenanted residential properties across England and Wales. The P2P lender currently promotes up to a 3.45% return for investors. In a historically low interest rate environment, these returns are […]
Koyo FinTech raises $4.9M to assist underbanked UK borrowers
FinTech startup Koyo, which uses Open Banking to offer loans to underbanked UK borrowers, announced that it has raised $4.9 million in funding. The round, a mixture of debt and equity funding, was led by Forward Partners, with participation from Seedcamp, Christian Faes (founder and CEO of LendInvest) and Charles Delingpole (founder and CEO of ComplyAdvantage). Founded last year by Thomas Olszewski, the FinTech firm aims to secure loans for people with a limited credit history through the use of Open Banking data. “If someone is new to the country, or otherwise has a thin credit file, it can be difficult for that person to access credit,” said Olszewski. “For […]
Crowdfunding platform Kickstarter hits $4.5bn milestone
Kickstarter has announced it has registered over $4.5 billion that has been pledged to different projects on its platform. The result is very positive for creators and individuals that are trying to gather funds and move forward with their projects. The information was recently released by the financial news site LearnBonds.com. Crowdfunding websites have been expanding all over the world during the last twenty years. Kickstarter was launched in 2009 and it launched over 460,000 projects. This shows that each project received around $10,000 in funding on average. This data represents an increase of over 16% since October 2018 and it also shows that just 37.3% of the projects are […]
The ‘Underbanked’ Is The Next Trillion-Dollar Opportunity in Fintech
It’s expensive to participate in the mainstream financial system if you’re poor. Overdraft penalties and banking fees prevent billions of people from accessing the most basic financial tools like savings accounts and lines of credit. This has created the greatest market opportunity in fintech—low-cost, high-tech financial services for the underbanked, said Angela Strange, a general partner at Andreessen Horowitz, during a panel at the Forbes Under 30 Summit in Detroit on Monday. “This opportunity [to serve the underbanked] is massive. Depending on which numbers you believe there are anywhere from 2 to 3 billion people worldwide,” said Strange. Historically, traditional banking institutions have done a bad job serving these customers […]
Stockholm-based fintech startup Dreams raises €9 million to help millenials fulfill their financial ‘dreams’
Stockholm-based fintech startup Dreams has raised €9 million in a late seed round. The investor pool includes AXA Investment Managers (AXA IM), the Norwegian insurance company Storebrand, Finnish Ålandsbanken and a group of private investors. Dreams helps its users fulfill their financial goals through a user-friendly mobile app using behavioural science. Launched in 2016, Dreams’ key commercial offering is a digital product platform for financial services, with a focus on financial well-being. The platform is particularly focused on serving millennials. Dreams helps its users to fulfill their financial ‘dreams’ through its user-friendly mobile app. What differentiates Dreams from other fintech apps is its deep application of behavioural science in its methodology and […]
London FinTech TrueLayer partners with Visa
London API provider TrueLayer is collaborating with Visa, which now has a minority stake in the FinTech as part of a $35 million Series C funding round in June, outlets reported on Tuesday (Oct. 29). The funding round was led by Temasek and Tencent with participation from previous investors Northzone and Anthemis. The investment helped TrueLayer expand across Europe to Germany, France, Italy and Spain. It also launched payment initiation capabilities and partnering with companies including Revolut, Zopa, ClearScore, Plum, Emma, CreditLadder, Canopy, and ANNA Money. “We want to scale open banking to a level where it manifestly impacts every aspect of financial services for consumers,” he says. “[This] requires […]
