Welcome to your daily FinTech news!
- Mountside Ventures released their inaugural Term Sheet guide, Demystifying Venture Capital Term Sheets, aimed at founders raising an institutional round. The report provides insights from 200+ global venture capital investors, with over £11 billion in assets under management investing in over 1,000 deals per year, on the typical terms they offer founders. It’s the first time many of these investors have contributed to such a comprehensive analysis of their typical terms! Link here.
- According to the latest study from Provenir, a global leader in AI-powered risk decisioning software for the fintech industry, fraud prevention is the biggest driver for investments in AI-enabled risk decisioning this year. Link here.
- Melbourne-based fintech start-up Yondr Money is looking to raise up to $1.5 million via crowdfunding platform Birchal to fund its expansion as a challenger to mainstream banks. Link here.
- Airwallex, a cross-border payments company, announced the launch of its cross-border payment services in Malaysia. Link here.
- Luno, a regulated digital asset exchange in Malaysia, shared that its female users have grown from 16,000 in 2020 to more than 120,000 in 2021, an increase of more than sevenfold. Link here.
- Several startups have been racing to sell software known as one-click checkout to retailers such as The Honest Company and Forever 21 to speed up how their customers pay for products online. But Fast, the only startup in the field backed by payments provider Stripe, has been slow to grow its business and is far behind rivals. Link here.
- Payfare Inc., a leading fintech powering instant payout and digital banking solutions for the gig workforce, announced the expansion of its collaboration with Visa in the U.S. After obtaining its Visa Ready for Fintech Enablers certification and expanding its platform with Visa SavingsEdge in 2021, Payfare will now add Visa Direct1 to its platform to help facilitate real-time payout experiences for gig workers. Link here.
- Cross-border payments platform dLocal is one of the most notable Latin American startups in recent history — the company became Uruguay’s first unicorn in 2020 and went public on the Nasdaq in 2021. DLocal’s founders had first launched AstroPay, another digital payments platform that now has over five million users. Link here.
- Mastercard announced that Chad Wallace has joined the company’s Global Product and Engineering organization as Executive Vice President of B2B Solutions and a member of the company’s Management Committee. Link here.
- Latin American neobank Nubank has announced the launch of its proprietary online payments solution. With NuPay, the digital banking giant allows customers to complete their e-commerce purchases with a few clicks within the firm’s app. The firm’s new solution allows for payment with account balances or interest-free installments through the Nubank app. According to Nubank’s product vice president Livia Chanes, NuPay aims to simplify the online shopping experience in Brazil. Link here.
- Provenir, a global leader in AI-powered risk decisioning software for the fintech industry, today announced that it is a finalist in the “Fintech Innovator of the Year” category for the 2022 Leaders in Lending Awards by the Canadian Lenders Association (CLA). Link here.
- Allica Bank says it’s set to hit £1bn in committed lending offers this year, double what it previously expected, helped by investment in its tech offering. Link here.
This ends Your Daily Fintech News. Let me know if there are any questions or comments. Until the next!
