Fasanara Fintech Weekly

Fasanara backed Twig Closes $35m Series A, Top 2022 Fintech Predictions, $40bn NFTs Market & More




Happy Thursday!



In this edition:


  • Fasanara backed Twig Closes $35m Series A

  • Top ten 2022 fintech predictions

  • How NFTs became a $40bn market in 2021

  • India’s central bank sets up fintech department to oversee CBDC development

  • There’s still no Amazon for housing, but fintech’s working on it.




 


Fasanara backed Twig closes $35m Series A.



Twig, a London-based fintech targeting Gen Z and younger millennial consumers with an e-money account that gives them instant cash-outs on fashion and electronics they want to sell, has closed a $35 million Series A round of funding.

The investment is led by U.K.-based fintech specialist, Fasanara Capital, with additional backing from a number of undisclosed strategic investors which Twig says include current and former executives from LVMH, Valentino and Goldman Sachs, among others.

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Top ten 2022 fintech predictions.



2021 was a transformative year for fintech. What felt like a corner of the technology industry a decade ago, is today the largest funded category globally: fintech received over $130b in capital representing 20% of all capital invested in 2021. Exits too were on the rise: there was a 3x increase in number of companies going public vs 2020.


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How NFTs became a $40bn market in 2021.




The At the beginning of 2021, only a niche group of crypto enthusiasts knew what non-fungible tokens (NFT) were.

But by the end of the year nearly $41bn had been spent on NFTs, according to the latest data, making the market for digital artwork and collectibles almost as valuable as the global art market.


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India’s central bank sets up fintech department to oversee CBDC development.



India’s central bank has set up a new department to focus on all matters related to financial technology (fintech) in the country. The department will promote innovation in the sector while also overseeing the development and launch of a digital rupee.


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There’s still no Amazon for housing, but fintech’s working on it.



It’s hard to imagine a better scenario for real estate technology than the one that played out in 2021. Low interest rates and pent-up demand ignited the hottest housing market on record, while the pandemic gave buyers and sellers new reasons to conduct business virtually.


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