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Tag Archives: monzo

Revolut Junior Is New Money Management Product Launched for Children

Revolut has introduced a new money management product for children. It is called “Revolut Junior” and is aimed at children aged 7-17 years.Revolut has been one of the new fintech apps taking the world by storm from the very beginning of its existence. Its unique offerings have wowed everyone. It came as no surprise to members of the fintech community when they announced a new children’s product. The “Money-Management” app named Revolut Junior aims to target younger children. The target range...

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Fintech Firm Monzo CEO Says Big Banks Are Set Up to ‘Kill’ Change

Monzo CEO Tom Blomfield believes that big traditional banks are killing the changes that ambitious companies are trying to bring to the fintech industry.The CEO and co-founder of Monzo Bank Ltd, a financial institution based in the United Kingdom, Tom Blomfield, has stated that big banks are set up to prevent fintech change. He also claimed that they are hunting out change and attempting to kill it.The British fintech entrepreneur does not believe big banks will ever experience a digital...

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UK Is Top Destination for European Fintech Investment with $4.9 Billion Received

The United Kingdom (including London) fintech ecosystem has reached a new record of $4.9 billion in investment. And as a result, it has managed to secure its position for another year as the number one destination for European fintech investment. Only the United States has a better record, according to the recent report from City AM, London.Exclusive data from Innovate Finance has revealed that the UK recorded a 38% increase in venture capital and private equity investment into its fintech...

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Visa, BNP Paribas Invest $80M into Fintech Startup Currencycloud

Recently, the UK fintech startup Currencycloud ran a series E funding round. Among the participants were Sapphire Ventures, Notion Capital, Anthemis, Accomplice, and Google’s venture wing GV. All of them supported Currencycloud earlier. Besides, the startup boasted it had attracted new investors. Visa, World Bank arm International Finance Corporation, BNP Paribas, Siam Commercial Bank and former Softbank spinoff SBI Group joined the round and invested as much as $80 million.The round has...

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Will the Payments Sector Unite or Divide over Cryptocurrency Adoption? 

Traditional payment companies seem to be taking vastly different approaches to cryptocurrencies. Earlier this year, it seemed like PayPal was about to blaze a trail in the space by working with Facebook on Libra, although it later pulled out. Elsewhere, more forward-thinking firms like Revolut and Skrill have embraced crypto, while Monzo has issued a firm “no,” and Stripe has backed away.So, what exactly is going on in this tumultuous relationship between payment firms and cryptocurrencies,...

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Revolut Introduces New Direct Debit Feature in the UK

Banking app Revolut has introduced a new feature that will allow many users to use the app just like any other bank account. The introduction of the direct debit feature for the UK pound has enabled users to be able to pay for goods and services with direct debit as it is becoming the norm for many businesses at the moment. Already Euro direct debit services were started last year. Many businesses prefer direct debits as card transaction fees and chargebacks are usually more problems than...

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Argentine Fintech Startup Ualá Raises $150 Million from SoftBank, Tencent and Others in Series C Funding

Fintech startup Ualá which is a finance app that helps people with all things financial has just finished its Series C funding to the tune of $150 million. This round was led by Tencent and Softbank’s Innovation Fund which has as its specific aim the Mercursour region. The app functions very much like Monzo, Nubank and Revolut but this time the focus of this app is on the Argentine market without the trappings and requirements of financial institutions and regulations. With its CEO Pierpaolo...

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Santander Buys Majority Stake in Startup Ebury for £350M

Spanish bank Banco Santander SA on Monday announced it is acquiring a major stake in the British payments platform Ebury. The price of this acquisition is, according to the announcement, £350 million ($453 million).Proud to announce that @bancosantander has bought a majority stake in Ebury! ? https://t.co/3F8Zisjz1u pic.twitter.com/15GC4O05A8— Ebury (@EburyUK) November 4, 2019Santander is buying 50.1 percent of Ebury’s stake, which makes it a stakeholder having a controlling vote.  This...

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Galileo Financial Raises $77 million after 19 Years in the Making

Photo: Galileo Financial Technologies / YouTubeA gentleman named Clay Wilkes had already decided to retire and enjoy his late years when he changed his mind – he’d rather not to. In 2000 this amazing entrepreneur launched Galileo Financial Services and already then realized the growing demand for better integration between and financial institutions and secondary services.19 years later, what his company does exactly that is the back-office connections with financial institutions and, boy,...

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