challenger banks
Vivid Money, a financial super app, raises $114M at an $886M valuation to expand in Europe
Vivid Money, a challenger bank out of Berlin with 500,000 customers, has made a name for itself with a financial one-stop shop “super app” that, in addition to basic checking and money man
Israeli fintech Personetics raises $85M for tools to help incumbents personalize banking services to compete with neobanks
Big banks are under a lot of pressure to modernize their services to meet demands of consumers who now view as table stakes things like mobile apps that identify who and where you are; or instant, on-
Thought Machine closes $200M for its cloud native banking SaaS and becomes a unicorn
Thought Machine, a 2014 (Xoogler) founded startup that sells cloud-based b2b banking services, has closed a $200 million Series C round and announced that it’s achieved unicorn status (aka, pass
Greece’s Viva Wallet raises $80M for its neobank targeting small business merchants
Challenger banks continue to make significant waves in the world of finance, with smaller outfits luring customers away from incumbents by providing an easier way for them to not only engage with basi
Teen banking service Step raises $100M Series C, announces Steph Curry’s investment
Step, the digital banking service aimed at teens and endorsed by TikTok star Charli D’Amelio, announced this morning the close of a $100 million round of Series C funding after growing to more t
New challenger Ikigai combines digital banking and wealth management
Ikigai, a London fintech founded by former McKinsey partners, thinks there’s room in the crowded challenger market for a new premium offering that combines digital banking with wealth management
UK challenger bank Starling raises $376M, now valued at $1.9B
Challenger banks continue to see huge infusions of cash from investors bullish on the opportunity for smaller and faster-moving tech-based banking startups to woo customers from their larger rivals. I
Monzo founder Tom Blomfield is departing the challenger bank and says he’s ‘struggled’ during the pandemic
Monzo founder Tom Blomfield is departing the U.K. challenger bank entirely at the end of the month, staff were informed earlier today. Blomfield held the role of CEO until May last year when he assume
Mexican challenger bank albo raises $45 million to expand
With nearly half a million customers across Mexico and a network of 30,000 retail locations where representatives can take deposits, the challenger bank albo is already on its way to becoming a domina
Helping big banks out-Affirm Affirm and out-Chime Chime gives Amount a $681 million valuation
Amount, a new service that helps traditional banks compete in a digital world, has raised $81 million from none other than Goldman Sachs as it looks to help legacy fintech players compete with their m
HMBradley raises $18.25 million planting a flag as LA’s entrant into the challenger bank business
With $90 million in deposits and $18.25 million in new financing, HMBradley is making moves as the Los Angeles-based entrant into the challenger bank competition. LA is home to a growing community of
Nigeria’s Kuda raises $10M to be the mobile-first challenger bank for Africa
The African continent is currently one of the fastest-growing regions when it comes to mobile growth, and financial technology companies that are building services to meet that rapidly-expanding marke
Leading a $15 million round, Prosus Ventures makes the challenger bank Klar its first bet in Mexico
Klar, a new online bank based in Mexico City, has become the first big bet that Prosus Ventures (the firm formerly known as Naspers Ventures) is taking in Latin America outside of Brazil. Founded by S
Which neobanks will rise or fall?
Neobanks have created a new tech stack, completely changing the services, products and speed at which they are delivered, and creating more fluidity in payments and currencies.
Small business challenger bank Finom raises another $12 million to expand in Europe
B2B financial service startup Finom — which provides online financial services for SMEs, freelancers and the self-employed in Europe — has raised an additional $12 million (€10.3 million) to add
The tale of 2 challenger bank models
Emerging market challenger banks will have to look carefully at market conditions, possible target segments, sustainable revenue sources and the regulatory structure that best supports their desired b
Challenger bank Varo, soon to become a real bank, raises $241M Series D
Mobile banking startup Varo Money has raised an additional $241 million in Series D funding, the company announced today. The investment was co-led by new investor Gallatin Point Capital and existing
Monzo to lay off up to 120 employees as the ‘economic situation’ remains challenging
Monzo, the U.K. challenger bank, continues to be faced with tough decisions linked to the coronavirus crisis and resulting economic downturn. Following the shuttering of its Las Vegas-based customer s
Existing backers put another £40M into UK challenger bank Starling
Starling Bank, the U.K.-based challenger bank founded by banking veteran Anne Boden, has raised an additional £40 million in funding, TechCrunch has learned. The round is led by existing backers Harr
This UX specialist opened 12 UK bank accounts and ‘logged everything’
“I’ve got a really high attention to detail, which might sound great, but it’s possibly a curse because I can’t help but spot problems with everything around me,” says Peter Ramsey.