Author: nripn

Egyptian Fintech Startup Connect Money Secures $8 Million in Seed FundingConnect Money, an Egyptian fintech startup, recently secured $8 million in seed funding. The company plans to launch new business lines using the funding….June 28, 2024

4 minutes reading time Last updated: July 17, 2024 | 11:20 p.m. IST The fintech industry, which has been caught between increased scrutiny from the Reserve Bank of India (RBI) and a harsh funding winter, is looking ahead to Budget 2025 with hope. The industry is looking for a favorable tax framework for startups, as well as exemptions and incentives to reduce their capital costs. Stakeholders Business Standard spoke to said they expected better clarity on guidelines from regulators like the RBI, Securities and Exchange Board of India (Sebi) and Insurance Regulatory and Development Authority of India (Irdai), among others.…

Last year, the world of fintech startups — star of the heyday of venture capital in 2021 — began to collapse as venture capital funding became more limited. As we approach mid-2024, large swaths of the industry are now in a complete mess, particularly the banking-as-a-service (BaaS) sector, which ironically, Last year, experts told us that was the positive. The bankruptcy of fintech BaaS Synapse is perhaps the most dramatic event of the moment. While it is certainly not the only bad news, it shows how perilous things can be for the often interdependent fintech world when a key player…

The Council of the European Union has adopted a new regulation that will make instant payments fully available in euros for consumers and businesses in all EU and EEA countries.The new regulation was introduced to improve the strategic autonomy of European economic and financial sectors, reducing what the EU calls “excessive reliance” on third-country financial institutions and infrastructures. This would include institutions such as Visa And MasterCardAmerican companies that dominate the world of payment processing. Regulating instant payments: benefits for EuropeansIndeed, this far-reaching regulation will also help to promote faster and more efficient cash flows, thus bringing greater benefits to…

Welcome to Fintech TechCrunch! This week, we look at Stripe’s big product announcements, a Brazilian fintech startup’s valuation boost, and more! To receive a roundup of TechCrunch’s biggest and most important fintech stories in your inbox every Sunday at 7 a.m. PT, subscribe here. The big story Band announced that it would be decoupling of payments of the rest of its financial services lineup. This is a significant change, given that in the past, even as Stripe expanded its list of services, it required businesses to be payment customers in order to use any of the others. Alongside this, the…

Over the last five years, the UK fintech sector has undergone significant change, driven by technological advances and regulatory reforms. These developments have collectively driven growth and innovation while presenting new challenges for businesses operating in this environment. Alexei Glukhov and Yevgeny Mishchenko, co-founders of UK financial technology company Payrowshare their thoughts on these transformative years. Technological changes support fintech growth Traditionally, fintech adapts to innovations faster than traditional banks. Significant technological changes have accelerated the growth of fintech. Open Bank: By securely accessing consumers’ banking data, fintech companies create personalized solutions, leading to more personalized services, greater transparency and…

Venture capital investments in financial services and fintech in 2023, which, just a few years ago, was the leading sector for financing startups worldwidetotaled $43 billion, its lowest level in six years, according to Crunch Database data. That’s down more than 50% year-over-year from the $89.5 billion invested in financial services in 2022, and even more dramatically from the $143 billion invested in the sector at the market’s peak in 2021. While still a top sector for startup investment, financial services have been displaced from the top spot. AI and manufacturing both overtook fintech in terms of venture capital investment…

After Brandon Lloyd sold his second company, Bypass, a sports and entertainment point-of-sale and payment software company, to Fiserv in 2020, he dove deeper into the payments industry and realized one thing: Software companies were getting a bad rap from the payments provider industry.“Companies like Stripe originally built this platform to make it easy for online merchants to accept credit cards,” Lloyd told TechCrunch. “With distribution moving from software vendors to merchants, merchants need support. Instead of generating revenue and doubling their SaaS revenue, they’re giving all of the payment revenue to their payment provider.”It’s not uncommon for a software…

Listen here or wherever you get your podcasts. Hello and welcome to Equitya podcast about the business of startups, where we dissect the numbers and nuances behind the headlines. It’s our Friday show and we talk about the biggest startup and tech news of the week. Marie-Anne And Alex We worked in pairs this week, analyzing a veritable mountain of information. Here is the summary! In case you missed it, we had a great chat with a Crunchbase analyst earlier this week about all things VC Q3! As always, Equity is back on Monday, but in the meantime follow us…

In a recent Fenergo During the webinar “Guidance on Global Regulatory Changes in 2024”, experts examined upcoming regulatory trends for 2024. The focus was on planned adjustments to anti-money laundering (AML) and know your customer (KYC) regulations.One of the key points discussed was the introduction of FinCEN’s new Beneficial Ownership Information (BOI) reporting rules under the US Corporate Transparency Act (CTA). These changes will require US financial institutions to revise their beneficial ownership onboarding processes, aligning them with existing customer due diligence (CDD) rules.The panel also highlighted progress in regulatory harmonisation within the European Union. Key developments include the EU’s…