The Wise logo displayed on a smartphone screen. Pavlo Gonchar | SOPA Images | LightRocket via Getty Images Shares of British money transfer company Wise dropped on Thursday after the company projected weaker annual revenue growth in the current fiscal year. The firm’s stock was down 9.8% at 1:30 p.m. London time, after falling as … Read more
A mockup of what Revolut’s new global HQ in Canary Wharf will look like. The firm said it plans to display its logo on two signs on the sides of the new building – mimicking legacy banks like Barclays and Citigroup. Revolut British financial technology firm Revolut announced Thursday that it’s planning to move its … Read more
Long gone are the days when venture capital was flowing into fintech startups with bold ideas — and little to show in terms of business metrics and fundamentals. Bloomberg | Getty Images AMSTERDAM — The financial technology industry is embracing a new normal — with some industry executives and investors believing the sector has reached … Read more
The GM logo is seen on the facade of the General Motors headquarters in Detroit on March 16, 2021. Rebecca Cook | Reuters A humanoid robotics startup cofounded by the CEO of bankrupt fintech firm Synapse has canvassed Silicon Valley investors for funds by claiming close ties and an imminent investment from General Motors — … Read more
Chris Ratcliffe | Bloomberg | Getty Images Apple device users will soon be able to tap into buy now, pay later loans from Affirm for purchases, the companies said Tuesday. Affirm will surface as an option for U.S. Apple Pay users on iPhones and iPads later this year, the San Francisco-based fintech company said in … Read more
Roberto Machado Noa/ LightRocket via Getty Images LONDON — The experience of paying for products and services online could feel a lot different in the coming years. Starting from 2030, Mastercard will no longer require Europeans to insert their card numbers manually when checking out online — no matter what platform or device they’re using. … Read more
Jelena McWilliams, chair of the Federal Deposit Insurance Corporation (FDIC), during a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, D.C., U.S., on Tuesday, Aug. 3, 2021. Al Drago | Bloomberg | Getty Images There is an $85 million shortfall between what partner banks of fintech middleman Synapse are holding and what depositors … Read more
Westend61 | Westend61 | Getty Images AMSTERDAM, Netherlands — Financial technology startup Nium told CNBC Wednesday it raised $50 million in new funds from investors, and is targeting an initial public offering in the next 18 months. The fundraising round was led by an undisclosed Southeast Asian sovereign wealth fund and backed by venture capital … Read more
Core Scientific’s 104 megawatt Bitcoin mining data center in Marble, North Carolina Carey McKelvey AUSTIN — For five years, bitcoin miner Core Scientific has quietly been diversifying out of mining and into artificial intelligence, a market that will require immense amounts of power to handle the training of AI models and the massive workloads that … Read more
A Monzo debit card being used at a payment terminal. Monzo Monzo, the British digital challenger bank, on Monday reported its first full year of profitability. The fintech startup said in annual financial results that its pre-tax profits totaled £15.4 million ($19.6 million) in its 2023-2024 fiscal year, swinging to the black from a £116.3 … Read more
