The Latest Breaking News from fintech

Staff in line for $500m windfall, with company now worth more than market valuations of big high street banks

Worldwide tech investment (including private equity, VC, and M&A) dropped to $51.9 billion in the first half of this year, down from the $62.3 billion we saw in the second half of 2023, according to recently released data from KPMG.

Both of these growth stocks could make excellent additions to your portfolio now.

Savvy has raised $15.5 million in an additional round led by Canvas Ventures, closing the startup’s Series A at $26.5 million, Fortune can exclusively report. Thrive Capital, Brewer Lane Ventures, Index Ventures, The House Fund, and Alumni Ventures, all existing investors, also participated in the round.

Gujarat-based fintech company Infibeam Avenues has struck a deal worth about Rs 50 crore to acquire a 54 percent stake in Rediff, one of the oldest internet firms in the country.

Fintech ETFs gives exposure to companies investing in technological innovation for the financial market. Thus, it could be wise to invest in robust fintech ETFs, ARK Fintech Innovation ETF (ARKF), Amplify Transformational Data Sharing ETF (BLOK), and Global X FinTech ETF (FINX) for potential gains. Read more….

Congratulations are in order to Nik Storonsky, co-founder of Revolut and arguably the most patient businessman in London. He has had to wait a tedious three years to finally secure a British banking licence, opening the door up to further expansion for the $45 billion fintech.

Move paves way for fintech firm to hold customers’ deposits and offer own-branded loans, including mortgages

Revolut today ended a painful three-year wait to secure a British banking licence in a breakthrough moment for Britain’s biggest fintech, paving the way for major expansion.

The consumer financial services sector is ready for strong growth due to the shift to a digital economy, the adoption of advanced technologies like AI, fintech innovations, and changing consumer preferences. Therefore, financial stocks Enova International (ENVA), Synchrony Financial (SYF), and World Acceptance (WRLD) could be wise investments for value…

The House passed a bill that seeks to establish an inclusive working group to protect the digital assets space from terrorism and illicit financing activities, months after the crypto industry saw successive support from Congress in the form of crypto-focused legislation.