Category: challenger bank
Revolut introduces salary advance feature in the UK
Fintech startup Revolut is launching a new feature called Payday. It is an alternative to credit card debt and short-term credit as it lets you unlock a portion of your wage early. If a business decides to integrate with Revolut, users can then access the feature from the financial super…
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European challenger bank Bunq raises $228 million at $1.9 billion valuation
Amsterdam-based challenger bank Bunq has been self-funded by its founder and CEO Ali Niknam for several years. But the company has decided to raise some external capital, leading to the largest Series A round for a European fintech company. The startup is raising $228 million (€193 million) in a round…
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Mobile bank Current raises $220 million Series D, triples valuation to $2.2B
U.S.-based challenger bank Current, which has now grown to nearly 3 million users, announced this morning it has raised a $220 million round of Series D funding, led by new investor Andreessen Horowitz (a16z). The funding swiftly follows Current’s $131 million Series C at the end of last year, at…
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Avant doubles down on digital banking with Zero Financial acquisition
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. Founded in 2012, Chicago-based Avant started out primarily as an online lender targeting…
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Revolut lets customers switch to Revolut Bank in 10 additional countries
Fintech startup Revolut has its own banking license in the European Union since late 2018. It lets the company offer some additional financial services without partnering with third-party companies. And the company is going to let customers switch to Revolut Bank in 10 additional countries. The Bank of Lithuania has…
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Revolut launches mid-tier subscription plan
Fintech startup Revolut is tweaking its subscription plans with a new mid-tier offering called Revolut — it costs £2.99 per month. Like N26 Smart and Monzo Plus, the new plan is a pandemic-proof package that doesn’t focus as much on travel. For the past couple of years, challenger banks and…
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