Fintech Friday is our regular check-in here at Spreckley, where we share all the most interesting and useful financial services and financial technology news, innovations and trends.
This week we deep-dive into the trending Fintech topics that are prominent in the news. We start this review by exploring more about how Revolut has become such a prominent name in Fintech. We then venture on to discover more about why there’s been so much interest in Fintech investment. Finally, we’ll look closely into how the Fintech sector has risen in its stature during the post-pandemic era.
Revolut becomes £24bn tech giant as digital bank strikes SoftBank and Tiger deal
“Revolut, the British-based banking and payments app, will on Thursday become the most valuable Fintech company in British history when it unveils a fundraising that makes it worth $33bn.
“Sky News has learnt that Revolut will announce that it has raised $800m (£577m) in a funding round led by SoftBank’s Vision Fund and Tiger Global Management, two of the world’s most prolific investors in fast-growing tech businesses.
“The deal will transform Revolut into one of the most valuable Fintech companies ever launched in Europe.”
Investment in Fintech booms as upstarts go mainstream
Elsewhere in the Fintech scene as reported by the Economist, “an air of hype habitually surrounds the founders of startups and their venture-capital backers: everyone is an evangelist for their latest project. But even allowing for that zeal, something astonishing is going on in Fintech. Much more money is pouring into it than usual.
“One in every five dollars invested by venture capital this year has gone into Fintech.”
Fintech 2.0: a new era of Fintech is emerging post-pandemic
Lastly, Information Age has claimed that “The pandemic emphasised the importance of Fintech, helping provide access to financial services during the toughest times when people needed them the most, especially in emerging markets. Over the years, Fintech has blossomed and evolved through many significant stages starting twenty years ago.”