Covid-19 has resulted in terrible aftermath for traditional stock trading. However, things have been going great for the fintech app Robinhood. The company managed to raise $460 million with its latest extension of the Series G round. According to a company spokeswoman, with Series G’s release, its funding round rocketed to $660 million. Consequently, Robinhood’s current valuation stands at $11.7 billion. All of the newly raised funds come from subsequent closings of the same series.…
The famous European fintech startup TransferWise is valued at $5 billion after the announcement of the second round of share sale this Wednesday. The value of this deal crosses $319 Million. However, no new money comes into the company as it is the re-distribution of holdings owners. The chance of selling a part of the holdings was provided for employees and investors. That not only allows to earn for shareholders but to avoid issuing more…
Monzo is expected to close a deal for an additional £70-80 million. The final amount raised hasn’t been confirmed yet, but according to the Financial Times, the value of the company might plummet nearly 40%. No profit yet? As most neobanks currently are not earning any profit, they are completely dependent on capital investments to keep on working. According to their annual report for their 2019 financial year, Monzo loss for the year is over…
Just a week ago, N26 announced an extension to their Series D funding with a further $100 million, bringing series D round to $570 million. This positions N26 as one of the highest valued FinTech companies globally. Their series A round funding started with €10 million from Valar Ventures, co-founded by Peter Thiel – also Paypal’s co-founder. Currently, N26 has reached over 5 million customers and raised $782 million. The company is valued at $3.5…
Having some issues with opening a bank account can lead to a brilliant idea. With many people in the UK having the same problem, the founder of Monese started something phenomenal. With Monese, you can now open a bank account in the UK in several simple steps, no hassles or any issues whatsoever. Opening an account is as easy as ordering an Uber to pick you up. Introduction As we mentioned above, Monese was created…
As COVID-19 is hitting the world’s economy, many need help. Lithuania’s minister of finance Vilius Sapoka with the care of former President Dalia Grybauskaite started a COVID-19 Consequence Reduction Fund for Lithuania. TransferGo came to assist! They are one of the biggest Fintech company, that started in the country. Faster Payments The company partnered with one of the leading global foreign exchange and payment provider IFX Payments to help receive the money faster and more…
Starting today everyone in the U.S can have their Revolut account opened just in minutes. You just need to download their app and send a few official documents to comply with KYC regulation. Revolut has been in beta in the United States since June 2019. FDIC Insured Advance Direct Debits? Yes. All deposits for U.S. customers are FDIC insured up to a value of US$250,000. This makes your money safe! Also, all account owners are…
Germany is a world-known country for its automotive industry. But it’s also known for having one of the most secure banks in the world. And we are not talking about Deutsche Bank per se. We are talking about N26, the online (non-traditional) bank we all know and love. N26 is not a newcomer when it comes to online banking. It’s been in business since 2016, and it’s steadily becoming a big player when it comes…
Revolut just announced that it launches a new Junior account feature that is dedicated to kids. The company states that it is a totally new way to teach our children about money and its management. What exactly Revolut Junior is? It is Revolut account devoted to young people from 7 to 17. They can spend and track their money with an additional level of security. By having Revolut card, young user can pay wherever he…
Revolut warns the users to be aware of fake support agents which ask for emailing a selfie or install 3rd party application. However, Revolut reminds that no one from the company will ask you to install some additional app, send passwords or other login details, and send an email with personal information or selfies. That information can be used to hack your account which could lead to financial loses. The company hints that the users…