The Fintech Wave🌊 (#2)
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The Fintech Wave🌊 (#2)
Finally, free B2B payments💳for small businesses are coming to the market
Welcome to the 2nd edition of the Fintech Wave🌊 This is your weekly source of what’s going on in the Fintech world in Europe and North America. There is so much going on in the fintech industry that we decided to send 2 newsletters per week. Hope you will like it :)
TLDR; Mastercard is entering BNPL market. Free B2B payments becoming a standard thing in the USA and Europe. Insurtech infrastructure startup valued at $550M. Now you can buy movie theater tickets with crypto. Keep reading for details👇
Europe News and Funding
Finally, a free B2B payments solution for European companies
B2B invoice payments always include some transactional costs, but London-based fintech startup Crezco decided to eliminate it. Crezco is an open banking solution to make B2B payments simple as B2C credit card payments and it is totally free. The company will later introduce premium products, but local B2B payments stay free for all.
Personal finance app that helps you refinance💸 your loans
If you think you pay too much for your loan, this startup might be the solution. Anyfin just raised 44.8 million euros to help customers refinance their loans and get better rates. This is usually a complicated process, but Anyfin is doing everything via the app. On average, customers can lower the interest rate by 50%, which in long term is saving them thousands. Currently, service is available in Germany, Sweden, and Finland.
Acquisition alert🚨 RoosterMoney acquired by NatWest
Pocket-money app for kids, RoosterMoney is acquired by NatWest. RoosterMoney is a financial app that teaches kids the importance of financial education. Parents can load pocket money into the app and allow parents to track all the spendings and stop any payment. Also, it includes rewards so kids are encouraged to develop saving habits from an early age. NatWest will implement RoosterMoney into their applications.
North America News and Funding
Mastercard💳 is entering into BNPL
Mastercard is entering into Buy Now Pay Later market. It will offer BNPL for customers in the USA, UK, and Australia. The program will give banks, lenders, and fintechs to offer equal and interest-free installments. It is expected that by 2025 BNPL will account for $7.2 Trillion in transactions. It was just a matter of time when Mastercard would enter the market.
Free B2B payments, this time for the USA companies
Hopscotch, a B2B payment startup, got funding the same week as previously mentioned Europe-based B2B payment company. B2B payments in the USA are facing the same problems as in Europe: lengthy waits to receive funds, high fees, limited connectivity between parties, etc. Quick payments are the key for businesses to thrive and with a $3.6M Seed round, Hopscotch is providing instant and no-fee transactions to small businesses.
Insurtech infrastructure startup valued at $550M
Insurance is probably the most regulated business in the world. To build insurtech products from scratch is super hard and that is why we need more pre-built infrastructure. Sure just raised $100M to help companies build insurtech offerings and embed them into their products. For example, an online car seller can include insurance offering in the online purchase. Sure wants its platform to become global so they are opening offices in Europe, Latam, and Asia.
Crypto ₿ites
AMC🎥 will let you buy movie theater tickets with crypto
AMC, one of the largest cinema chains in the USA, is adapting to crypto payments. At first, AMC customers will be able to buy gift cards and pay with bitcoin. Another interesting thing is that AMC is bullish on Dogecoin and it will add it soon to the list of crypto they accept.
Tweets of the Week
