Issue 310 · Apr 9, 2021 Weekly edition · 3 min read

Fintech News

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These 12 New Billionaires Are Riding Fintech's Rising Tide

Thanks to pandemic-driven changes in the way people save, invest and pay, more than a dozen fintech billionaires have been minted over the past year. They’re founders of everything from stock trading apps to back-end payments technology. Here are 12 notable newcomers to the fintech billionaire ranks.

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In this issue · 11 items

JD Technology withdraws IPO application in Shanghai amid China’s fintech rule changes South China Morning Post — Fintech company JD Technology has pulled its IPO application in China’s Nasdaq-style Star Market Open story ↗ How data science is set to revolutionize the fintech landscape Data Quest — The availability of massive data is driving the FinTech industry to harness the power of the hidden gems that only data analytics can deliver. Open story ↗ Fintech Innovation and Open Banking in the Nordics Finovate — This week we learned that Norway-based Finovate alum Signicat has teamed up with a German software company Cryptshare to market a new B2B identity verification solution. Open story ↗ Avant doubles down on digital banking with Zero Financial acquisition Tech Crunch — Avant, an online lender that has raised over $600 million in equity, announced today that it has acquired Zero Financial and its neobank brand, Level, to further its mission of becoming a digital bank for the masses. Open story ↗ Jamie Dimon Says Competitive Threats Are Eroding Banking’s Future The Financial Brand — Fintechs, big techs and shadow banks aren't nibbling at market share anymore, says the head of the largest U.S. bank. Some are chomping down. This will hurt the traditional players even as America recovers from the Covid economy. Open story ↗ The transformative power of fintech for supply chains Read more at: https://yourstory.com/2021/03/transformative-power-fintech-supply-chains Your Story — Integration of fintech in the supply chain offers a look into the future when a majority of transactions will take place in the digital realm. Open story ↗ Acorns’ new fintech target is debt management with acquisition of Pillar Tech Crunch — Popular saving and investing app Acorns has acquired Pillar, an AI-powered startup built to help manage student loan debt, in its second acquisition of 2021. Open story ↗ Fintech start-up Stripe enters the Middle East with UAE launch CNBC — Online payments company Stripe opens its first Middle East office in Dubai, in the United Arab Emirates. Open story ↗ Plaid’s $13.4 Billion Valuation Makes Its Founders Fintech’s Newest Billionaires Forbes — San Francisco fintech startup Plaid made waves in January 2020 when it announced it was selling to Visa. Now, with a $13 billion-plus valuation after a new funding round, founders Zach Perret and William Hockey will be glad the deal fell through. Open story ↗ The Fintech Cookie Factory: How Banking As A Service Works Forbes — Working in the fintech space, I'm constantly looking for good analogies to explain what banking as a service (BaaS) platforms actually do. Open story ↗ Overregulating fintech will harm consumers Roll Call — A too-heated response from Congress could undermine access to affordable financial tools Open story ↗

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These 12 New Billionaires Are Riding Fintech's Rising Tide

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