Financial Services

The Mexican corporate card provider will use the new funds to build out its business-facing offerings apart from the crowded consumer side of neobanking in Mexico and speed up its already strong transaction volume growth.

An iOS app update reportedly contains language about two forthcoming bank accounts from Square—which, if true, put it ahead of the competition.

Square's new SMB offerings could tee up deposit product launch, and its merchant network could help it emerge as a significant threat to the likes of JPMorgan and Bank of America.

Temenos helps Canadian credit union start digital-only arm: The software vendor worked with FirstOntario Credit Union to launch Saven—the latest case where a Canadian digital upstart has rolled out with backing from an established player.

Revolut rolls out business invoicing: The neobank is giving small and medium-sized businesses in the UK and across Europe the ability to run their collections processes through its app—its latest step in building a “financial super app” with a wide breadth of offerings.

Kaszek’s latest fund will in part invest in fintech startups, indicating that the region’s ecosystem is maturing as LATAM adds an increasing number of VCs to its list of investors.

The Series D round gives Figure a $3.2 billion valuation. The fintech is still awaiting the verdict for its Fintech Charter application, which, if successful, will likely push more crypto firms to apply.

HSBC won’t hop on the crypto train: The banking giant’s CEO cited the asset class’s volatility as reason to stay out—a decision that could complicate its customer acquisition efforts.

Mission Lane becomes a neobank: The fintech with a credit-building focus acquired finance platform Honeydue—giving it access to a product suite that includes bank accounts and debit cards.

Banking tech vendor Zeta eyes US market boost: The company plans to enhance its global footprint with proceeds from a $250 million round led by SoftBank—placing it in a strong position to make clients out of smaller banking players that are eager to upgrade their offerings.

The raise brings the app to a $5.3 billion valuation—here’s why investors flocked to its Series C round, giving it a significant boost to expand aggressively across Europe.”

Banks face torrent of potential US SMB customer losses over PPP anger: More than 6 million SMBs in the US may leave their banks over how they handled the Paycheck Protection Program—creating an opening for banking players to develop new features to woo them away.