Welcome to your daily FinTech news!
- Meta CEO Mark Zuckerberg announced this week that Facebook Pay has officially been renamed Meta Pay. The current product features and overall user experience that people are used to with Facebook Pay will remain the same across Facebook, Instagram, WhatsApp and Messenger. The change is rolling out in the United States and will then launch globally over time. Zuckerberg says although the service will remain the same, the rename represents Meta’s first step toward creating a digital wallet for the metaverse. Link here.
- Amsterdam has the second most valued tech ecosystem in Europe. Research by Dealroom shows that Amsterdam-based startups raised €698M in 2022 YTD. This funding comes after a record year in 2021 but is a 75 percent decline year on year. Link here.
- SleekFlow, an Alibaba Entrepreneurs Fund-backed SaaS omnichannel social commerce platform, announced that it has raised a US$8 million Series A funding round. Link here.
- Ethis Group, an ethical investment and social finance platform operator, is collaborating with venture capital firm Gobi Partners to structure and set up a US$20 million Shariah-compliant seed fund. Link here.
- Chippit, a new digital banking app, has launched in Australia in a closed beta, access for which is currently waitlisted. Founded in May this year, Chippit calls itself a “social banking app” that allows individuals to invite and save faster with their friends and family, as well as borrow at 0% interest rate to make purchases. Based in Melbourne, Chippit recently raised $136,000 (AU$190,000) in pre-seed funding from venture capital firm Antler. Link here.
- Markets, consumers, and realities are ever-changing, meaning that small business owners have to react quickly, sometimes changing their business models at the core. As they navigate this changing world, many are seeking solutions for agility and resilience powered by technology. Open banking represents one such opportunity space. Link here.
This ends Your Daily Fintech News. Let me know if there are any questions or comments. Until the next!
