Happy Wednesday!
In this blogpost:
Top Market Structure Trends for 2021
Mambu Raises €110 Million in Latest Funding Round Led by TCV
UK fintech review to propose changes to visa and listing rules
QR Code Payment Users to Hit 2.2 Billion Globally by 2025
Walmart to create fintech start-up with investment firm behind Robinhood
The fintech sector resists coronavirus and grows 12% globally
Top Market Structure Trends for 2021
While 2020 is (thankfully) over, it is most certainly not forgotten. Without a
doubt, 2020 brought with it the biggest set of market structure related events
since the global credit crisis of 2008–2009. Every market was impacted,
challenged, and closely examined throughout the year, and these events will
continue to be studied for the foreseeable future. While technology in general
and electronic trading more specifically proved resilient in the midst of crazy
market conditions, so too did the value of relationships between counterparties—
all of whom were trying to survive the unpredictable market.
Mambu Raises €110 Million in Latest Funding Round Led by TCV
Mambu, a SaaS banking platform, has announced its latest funding round of €110 million in new capital. This round was led by TCV, whose investments include Netflix, RELEX, Spotify, and WorldRemit. Additional investment was received by
Tiger Global and Arena Holdings, as well as existing investors Bessemer Venture Partners, Runa Capital and Acton Capital Partners. The new round brings the company’s valuation to over €1.7 billion. Mambu’s SaaS banking platform accelerates and simplifies the way financial products are built and serviced by any financial institution. Mambu’s platform is used by traditional banks, fintech startups, financial institutions, non-profits, and other businesses to power their financial products and services. Counting the likes of ABN AMRO, N26, OakNorth, Orange and Santander among its customer base, Mambu is powering both the building of new FinTech’s as well as the migration of existing financial institutions onto a tech stack fit for the fintech era. Mambu is continuing to expand both the breadth and depth of its platform and is planning to double the team to over 1000 by 2022.
2020 may have been the catalyst for businesses to improve their understanding of cyber threats and the vulnerabilities they exploit as they plan for the new normal, but how can they do this successfully?
UK fintech review to propose changes to visa and listing rules
A government-backed review into the UK’s financial technology industry will recommend measures to support fast growing companies after Brexit including special visas for skilled workers and changes to the UK’s listing rules.
The government sees the industry as a key area of focus as it considers where to prioritise future industrial strategy efforts after Brexit. London has been the centre for much of the fintech industry in Europe, with so-called “unicorn” companies’ worth more than £1bn such as Revolut, Monzo and TransferWise setting up in the UK capital.