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Welcome to another episode of our Daily Fintech Podcast.
This podcast episode is sponsored by YieldX. Digitalization is revolutionizing the world of fixed income and YieldX is building the tools to bring the benefits to all investors. The time has come to replace your antiquated technology with a modern, 100% digital end-to-end investment and insights platform.
THE NEWS HIGHLIGHT OF THE DAY IS
Nu, the holding company that includes Nubank in Brazil, as well as Nu México and Nu Colombia, added 5.8 million customers in the last quarter, reaching a total of 53.9 million customers in these three countries.
JUST IN:
Weavr.io, a London-headquartered technology provider, announced the close of a $40 million Series A funding round led by Tiger Global Management.
ALSO:
Nine days after its official launch, the Toucan Giving app locked-in investment through a slightly unconventional approach for fintech - BBC One’s Dragon’s Den.
FURTHERMORE,
Australian Zip Co forecast shows a bigger half-year loss than analyst expected, citing lower consumer spending in the United States as fiscal stimulus money dries up.
WHAT ABOUT CRYPTO?
Storied venture capital firm Sequoia Capital announced it has launched a crypto-focused fund with between $500 million and $600 million in capital
WHAT ARE THE LATEST INSIGHTS?
Cornerstone estimates that the BaaS market could grow to more than $25 billion in annual revenue in 2026. This would go a long way to replacing the inevitable loss of overdraft fees the banking industry will face over the next five years.
WHAT ABOUT FUNDING ROUNDS AND INVESTMENTS?
India’s Niyo Solutions Inc. has raised $100 million in a new financing round as the neobank platform looks to add lending and insurance to its offerings.
MarketForce, the retail B2B and end-to-end distribution platform founded in Kenya, has raised $40 million in Series A funding for its merchant inventory financing and expansion across Africa.
Jambo Technology, a Congo-based startup building Africa’s web3 user acquisition portal, has raised $7.5 million in seed funding.
NOW, LET’S COVER NEW LAUNCHES AND FEATURES.
Shopify merchants can now accept BillEase payments and enable a calculator widget that shows shoppers the actual price of purchase if paid in installments on the merchant’s storefront which is now part of the payment app.
WHAT ABOUT THOSE MOVERS AND SHAKERS?
Belvo appoints David Ballesteros as New Country Manager in Colombia. He will lead all commercial and growth efforts in the country.