News Briefing - Crowdfunding, SME And Alternative Finance

escalator ascending into light

1.UK – FinTech

 

Altfi reports: 

 

“Payments firm Global Processing Services (GPS) has raised an additional $100m, bringing its total latest funding round to $400m. 

GPS raised the initial $300m round back in October of 2021, at an undisclosed valuation. It had previously secured a strategic investment from payments giant Visa in October of 2020.   

The company, which was founded in 2007, counts a host of fintechs such as Revolut, Curve, Starling Bank, Zilch, WeLab Bank and Paidy as customers for its payments processing business. It says it has issued over 190 million physical and virtual cards, and last year processed more than 1.3 billion transactions.” 

 

2. UK – FinTech 

 

Finextra reports: 


“NatWest is to formalise its blockchain strategy with the launch of a new digital team in its capital markets business. 

The new team will be led by Chris Agathangelou, who has been appointed head of digital capital markets. The unit will be charged with delivering credit and rates products via digital channels and currencies and underpinned by blockchain technology.” 

 

 

3. International – FinTech 


Finextra reports: 


“Citigroup is recruiting for a leader to run a digital asset division within the bank's treasury and trade solutions business. 

Citi is looking for a domain expert who will work with fintech startups, clients and internal teams to shape the bank's proposition. The bank says the role has been created in recognition of the rapidly changing digital assets landscape.

Reuters reported late last year that the bank intended to hire 100 staff to kickstart its digital assets strategy.

The head of TTS digital assets will be a member of the TTS partnership and innovation team and among other things will be charged with working with venture-backed startups in blockchain and digital assets in identifying their technical and commercial challenges and mapping them to Citi technology and products.” 

 

 

4. US – FinTech 


Crowdfundinsider reports: 


“Chairman of the Federal Reserve Jerome Powell spent much of yesterday testifying in front of the US Senate Banking Committee as part of his nomination process. It is anticipated that Powell will easily be approved by the Committee as well as the full Senate for a second term of running the Fed. 

While much of the conversation revolved around rising inflation concerns and Fed policy, Powell was asked several questions about digital assets or the crypto ecosystem.” 

 

5. International - FinTech 

 

Finextra reports: 


“As the Buy Now Pay Later (BNPL) market heats up in the US, APEXX Global, the global payments platform, is stepping in to help new and existing payment services providers meet growing demand. the company forecasts to be processing roughly $20billion with some of the biggest eCommerce brands, by the end of 2022. 

As a first-of-its-kind platform in the global payments marketplace, APEXX Global accelerates the average time to market by 90 per cent and increases trading volumes by as much as 20 per cent. 

APEXX Global has become a staple in European markets, with over 120 integrated partners, and multiple enterprise clients including ASOSeShopWorldXE.comSwoonAirSeychelles and many more. The payments company currently operates across more than 70 countries saving users an average of 15 per cent on processing costs.”