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Welcome to another episode of our Daily Fintech Podcast.
This podcast episode is sponsored by Uncover, the new podcast by ComplyAdvantage. Join CEO Charles Delingpole and his team as they interview compliance leaders, FinTech innovators, and financial crime experts to uncover the latest best practices and industry trends. Subscribe on Apple Podcasts or Spotify today
THE NEWS HIGHLIGHT OF THE DAY IS
Valar Ventures LLC Management is leading a US$185 million funding round for Canada’s Neo Financial Technologies Inc., propelling it to a valuation of more than US$1 billion ? as it plans expansion into mortgages.
JUST IN:
Nu Holdings Ltd is coming under renewed pressure as the end of a massive stock lockup nears. Nubank has shed more than a third of its market value less than five months after going public amid a global rout in tech stocks and concern about whether the fintech firm can deliver on promised growth as credit quality deteriorates in Brazil.
ALSO:
Stripe announced a new product that fills in some significant gaps in its play to be the financial services layer for merchants and other businesses. That new product is called Financial Connections and the company says it will give Stripe’s customers a way to connect directly to their customer’s bank accounts, to access financial data to speed up or run certain kinds of transactions.
FURTHERMORE,
Klarna will start telling credit agencies who pays on time and who falls behind. The firm said the move could help or hinder its customers' ability to get credit for loans such as mortgages.
WHAT ABOUT DEFI?
Jane Street borrowed $25 million in USDC from BlockTower Capital via DeFi marketplace Clearpool , with plans to eventually increase that amount to $50 million.
WHAT ABOUT CRYPTO?
Crypto fintech business Mode has sought to reset its business with the launch of a new bitcoin cashback scheme, months after an embarrassing climbdown that led to the exit of its CEO.
Galicia Bank, the largest Argentinian private bank by market value, has added the option to buy and sell cryptocurrencies on its platform, the company confirmed Monday.