FinTech news in Fintech Roundup category

This week in FinTech, banks vs FinTechs and billion dollar acquisitions

LatAm FinTechs prevail in the new rounds, while larger FinTech companies go after M&A via SPACs, according to NASDAQ

Weekly news about Paystand, Alloy, Payday, QED Investors, Metromile, Lemonade, Wiseasy, Attentive, Robinhood, Opendoor, Savana, Lami, Bluecopa, Geopagos, Mudafy, Parafin, FinanZero, PayIt, NG.CASH, Legalpad, Weltio and others.

Cash App last week launched Round Ups, allowing customers to invest their spare change into a stock of their choice or bitcoin every time they use their Cash Card. Even that new figure represented both a dramatic decline from Klarna’s mid-2021 valuation of more than $45 billion and the $30 billion figure it was reported to be targeting earlier this year, as our own Alex Wilhelm noted here.

The round brings the company’s valuation to $842 million, nearly doubling the $447 million it was valued at after its Series C. Egyptian fintech Paymob, which enables merchants to accept digital payments online and in-store, raised $50 million in Series B funding. The rise of digital payments has changed the nature of how people do business with each other; and open banking — a movement in banking where incumbents are finally adopting newer technology such as APIs to open their systems to modern integrations — is leading to a wave of new payment methods, all of which are hoping to become as standard as cash or paying with cards. Last week, a company called Paddle, which has built a large business out of providing the billing backend for those SaaS products, announced a large funding round of $200 million as it gears up for its own next stage of growth.