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Venture Funding for FinTech Climbs 62% YOY in the United States
FinTech venture funding continues to increase in the US as a collaboration between PricewaterhouseCoopers and the National Venture Capital Association, based upon data from Thomson Reuters, the MoneyTree report is the only industry-endorsed research of its kind. The MoneyTree Report is the definitive source of information on emerging companies that receive financing and the venture capital firms that provide it.
A total of $520 million was invested in financial services startups last quarter, up from $289 million during the last quarter of 2014 and $321 million, in the same quarter last year — a 62% year-over-year increase — By comparison, venture funding overall fell to $13.4 billion last quarter, from $14.9 billion the previous quarter, although 26% higher than in 1Q14.
In all, PwC recorded 16 financial services funding rounds last quarter, compared to 14 during the previous quarter.
Financial services, which has been a hot VC sector over the last couple of years, ranked No. 6 among all sectors receiving venture funding. Software ranked No. 1. Last on the list of sectors was “Business Products and Services,” with but $6 million of venture funding last quarter. Only five of the 17 sectors PwC tracks saw an increase in dollars invested last quarter; financial services was one of them.
A total of 1,020 venture funding deals were completed last quarter in the US
- Platform Veteran Geoff Towers Joins Platform One Board Read more
- Mastercard Advances Instant Cross-Border Payments with TIPS Cross-Currency Pilot Read more
- PayAngel Expands Global Payout Capabilities Through Collaboration with Visa and Currencycloud Read more
- Ryan Expands Global Presence and European Reach Through Acquisition of Svalner Atlas Advisors Read more
- Silverflow Accelerates Post-Series B Growth with New Amsterdam HQ and 20% Headcount Increase Read more
Platform Veteran Geoff Towers Joins Platform One Board
Geoff Towers, the CEO of multiple platforms throughout his career, has joined the Platform One board as a non-executive director.
Mastercard Advances Instant Cross-Border Payments with TIPS Cross-Currency Pilot
Mastercard today announced its participation in a Eurosystem-led pilot, conducted in collaboration with Danmarks Nationalbank and Sveriges Riksbank, on the TARGET Instant Payment Settlement (TIPS) platform, testing instant cross-currency payments (TIPS X-CCY). Participation in the pilot represents a key milestone in Mastercard’s strategy to build direct connectivity to payment infrastructures and demonstrates how instant cross‑border payments can be executed and settled instantly at infrastructure level.
PayAngel Expands Global Payout Capabilities Through Collaboration with Visa and Currencycloud
PayAngel (https://PayAngel.com), a cross-border payments platform built by migrants and shaped by a lived understanding of the migrant journey, today announced an expanded collaboration with Visa, a world leader in digital payments. Leveraging Currencycloud, a Visa Direct solution, PayAngel will strengthen its multicurrency account and international payout capabilities.
Ryan Expands Global Presence and European Reach Through Acquisition of Svalner Atlas Advisors
Ryan, LLC (“Ryan”), a leading global tax services and software provider, today announced it has entered into a definitive agreement to acquire Svalner Atlas Advisors, a premier independent tax and transaction advisory firm headquartered in Stockholm, Sweden. The acquisition will expand Ryan’s presence across the Nordics and Benelux regions while enhancing the Firm’s ability to deliver integrated cross-border tax and advisory services throughout Europe.
Silverflow Accelerates Post-Series B Growth with New Amsterdam HQ and 20% Headcount Increase
Silverflow, the cloud-native payment processing company, is accelerating its post-Series B expansion after signing a major new US customer, increasing headcount by more than 20% and moving into a new Amsterdam headquarters to support growing global demand.
RECCo Appoints Raidiam and PayPoint to Deliver the Trust Framework for the Consumer Consent Solution
RECCo, the Retail Energy Code Company, has appointed Raidiam and PayPoint to support the development of the Trust Framework that underpins the Consumer Consent Solution (CCS) for the GB retail energy market. The appointment marks a key step towards a more secure, standardised and consumer-focused approach to data consent in energy.
Loqbox and Blackbullion Partner to Close the Credit Confidence Gap for 450,000+ UK Students
Loqbox and Blackbullion have partnered to help more than 450,000 students build stronger financial futures through accessible credit-building tools and curriculum-linked financial education.
Platform Veteran Geoff Towers Joins Platform One Board
Geoff Towers, the CEO of multiple platforms throughout his career, has joined the Platform One board as a non-executive director.
Mastercard Advances Instant Cross-Border Payments with TIPS Cross-Currency Pilot
Mastercard today announced its participation in a Eurosystem-led pilot, conducted in collaboration with Danmarks Nationalbank and Sveriges Riksbank, on the TARGET Instant Payment Settlement (TIPS) platform, testing instant cross-currency payments (TIPS X-CCY). Participation in the pilot represents a key milestone in Mastercard’s strategy to build direct connectivity to payment infrastructures and demonstrates how instant cross‑border payments can be executed and settled instantly at infrastructure level.
PayAngel Expands Global Payout Capabilities Through Collaboration with Visa and Currencycloud
PayAngel (https://PayAngel.com), a cross-border payments platform built by migrants and shaped by a lived understanding of the migrant journey, today announced an expanded collaboration with Visa, a world leader in digital payments. Leveraging Currencycloud, a Visa Direct solution, PayAngel will strengthen its multicurrency account and international payout capabilities.
Ryan Expands Global Presence and European Reach Through Acquisition of Svalner Atlas Advisors
Ryan, LLC (“Ryan”), a leading global tax services and software provider, today announced it has entered into a definitive agreement to acquire Svalner Atlas Advisors, a premier independent tax and transaction advisory firm headquartered in Stockholm, Sweden. The acquisition will expand Ryan’s presence across the Nordics and Benelux regions while enhancing the Firm’s ability to deliver integrated cross-border tax and advisory services throughout Europe.
Silverflow Accelerates Post-Series B Growth with New Amsterdam HQ and 20% Headcount Increase
Silverflow, the cloud-native payment processing company, is accelerating its post-Series B expansion after signing a major new US customer, increasing headcount by more than 20% and moving into a new Amsterdam headquarters to support growing global demand.
EXCLUSIVE: “Payments Re-Engineered” – Nigel Thacker, Silverflow and Victor Padee, Aevi in ‘The Fintech Magazine’
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