THIS WEEK’S FUNDING NEWS OVERVIEW
👀 Are you interested in funding news from the FinTech space?
💡 Read all about it in my weekly overview article and get the latest funding news from the global FinTech space in your inbox every week.
REPORT
In order to evaluate the attractiveness of different locations for FinTech companies as well as possible shifts in their competitiveness, the seventh edition of the FinTech hub ranking is presented in this #fintechreport by Thomas Ankenbrand & Denis Bieri, at the Institute of Financial Services Zug IFZ.
One of the core findings of the past rankings was that Switzerland offers good framework conditions for the FinTech sector.
Download the full 191-page report below 👇
👀 NEWS HIGHLIGHT
BC authorizes Pomelo IP to operate as a payment institution in Brazil. The company has a capital stock of R$16 million. Its product portfolio consists of issuing and processing cards (Visa and Mastercard), digital account creation and identity verification, and “know your customer”.
📰 ARTICLE
Girasol Payments and Mastercard announced a six-year partnership to build the digital payment infrastructure for the Caribbean region.
This partnership focuses on leveraging Mastercard’s network, expertise, and support through Girasol so that national banks, credit unions, and FinTechs in this region can access Mastercard’s services and products faster, easier, and tailored to their needs.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️ Grupo Financiero Banorte is preparing to launch a digital bank late this year or in early 2024, expecting about 3 million customers.
⭐️ Mastercard and Visa are in negotiations to acquire Pismo. The company is working with Goldman Sachs Group on a sale, which is valued at around $1 billion.
⭐️ Teleperformance partners with Mastercard to strengthen the payments ecosystem for businesses in Latin America.
⭐️ Toku raised USD $7 million in seed funding. The funding round was led by F-Prime Capital, Wollef, Honey Island by 4UM, and others.
BRAZIL
Coinbase teams up with Pix to offer expanded services. Brazilians will have more options for trading in crypto and better customer service. Coinbase has inked deals with Brazilian payment solutions provider Ebanx and Pix, the instant payment app operated by the Central Bank of Brazil.
COLOMBIA
SoftBank sees delivery app Rappi going public as soon as the end of this year or early next if global markets stabilize. Rappi was valued at $5.5 billion in 2021 and is backed by Sequoia Capital, Andreessen Horowitz, and Tiger Global Management.
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