Without further ado, here’s my latest fintech roundup.
Lufax’ US IPO
Lufax was founded in 2011 and initially focused on peer-to-peer lending. Over time the company has diversified, now also working with funds, insurance companies and financial license holders, becoming a large internet finance company in China. It is backed by Ping An Group.
Chinese fintech giant Lufax seeks up to $2.36 billion in U.S. IPO
GUANGZHOU, China - Chinese lending and wealth management firm Lufax is seeking up to $2.36 billion from a U.S. initial…
The Shanghai-based firm is now seeking a $2.36 billion IPO on the New York Stock Exchange. Yes, despite the current Sino-American “trade war”, the US is still an attractive place to go public for Chinese companies.
Lunar closes Series C round
Founded in 2015, Lunar is a Denmark-based neo-bank that offers a wide range of B2C and small business products. It has approximately 205,000 users across Scandinavia (97.5% being B2C consumers).
Interestingly, the company has financial products for teenagers ages 15 to 17 (somewhat reminiscent of Greenlight in the US).
Nordic challenger bank Lunar raises €40M Series C, plans to enter the 'buy now, pay later' space
Lunar, the Nordic challenger bank that started out life as a personal finance manager app (PFM) but acquired a full…
Tipalti secures $150 million, significant valuation
US-based Tipalti (which has Israeli origins), raised another $150 million through a Series E round at a valuation of $2 billion. Tipalti means “I took care of it” in Hebrew. The company aims to accomplish this by “providing one comprehensive, global payables automation solution that automates all manual supplier payment processes”.
Fintech Tipalti raises $150m at valuation of $2 billion
In 2020, Tipalti has surpassed $12 billion in annual transaction volume. Global payables automation software company…
This year, Tipalti has exceeded $12 billion in annual transaction volume and ended Q2 2020 at an over 80 percent growth rate versus Q2 2019.
JPMorgan Chase enters the mPOS market
The mobile point of sale (mPOS) market is becoming quite active. The success of Square, Lightspeed is motivating a financial services giant to step into the arena.
JPMorgan Chase enters mPOS arena
JPMorgan Chase is taking on Square and PayPal with an app and contactless card reader linked to a business checking…
JPMorgan Chase’s “Business Complete Banking account” includes “QuickAccept”, a built-in feature which allows US merchants to take card payments in minutes and have funds available the same day.