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/payments

Credit card for the underbanked Petal raises $140 million Series D

Petal, a US credit card startup that is ditching traditional credit scores in an effort to sign up young people and the underbanked, has raised a $140 million Series D round of funding.

/crypto

Swiss digital asset bank Sygnum raises $90 million

Sygnum, a digital asset technology group with a Swiss banking license and a Singapore asset management licence, has raised $90 million in an oversubscribed Series B funding round led by Sun Hung Kai & Co. Limited.

/payments

Pine Labs scores $20 million investment from State Bank of India

Riding the BNPL wave, Mastercard-backed Indian merchant commerce platform Pine Labs has picked up a fresh $20 million investment from the country's largest commercial bank, the State Bank of India (SBI).

/payments

Lloyds to invest in loyalty app Bink

Lloyds Banking Group is to follow Barclays in becoming a shareholder in Bink, a loyalty app launched in 2015, Sky News understands.

/retail

Tencent takes stake in Monzo as part of $100 million capital injection

Chinese technology behemoth Tencent has taken a small stake in Monzo as part of a $100 million top-up to the UK challenger's recently announced $500 million funding round.

/startups

Silverflow raises $17 million to accelerate payments modernisation

Silverflow, a Dutch payments technology firm founded by industry veterans, has raised $17 million in Series A funding.

/payments

Bill payment app Papaya raises $50 million

Papaya, a mobile application that simplifies bill payments for US consumers, has picked up $50 million in a Series B funding round.

/crypto

Crypto-as-a-Service platform Ramp raises $52.7 million

London-based and Polish-founded crypto infrastructure startup Ramp has raised $52.7 million in funding on the back of 30x growth in transaction volumes over the past year.

/crypto

Nydig raises $1 billion at $7 billion valuation

Nydig, the cryptocurrency technology firm capitalising on the institutional embrace of bitcoin, has raised $1 billion in a growth equity round that values the company at $7 billion.

/startups

B2B payments startup topi emerges from stealth

Two former employees of Apple and Goldman Sachs have raised $4.5 million in pre-seed funding for a new B2B payment startup, topi.

/regulation

Hummingbird RegTech raises $30 million

Hummingbird Regtech has raised $30M in a Series B funding round led by Battery Ventures with participation from Flourish, Homebrew, FinVC, and William Hockey, co-founder of Plaid.

/payments

Indian BNPL player Simpl raises $40 million

Indian buy now, pay later platform Simpl has raised $40 million in a funding round led by Peter Thiel's Valar Ventures and IA Ventures.

/wholesale

Co-op Bank invests in Bankifi

The Co-operative Bank has invested £500,000 in Manchester-based fintech Bankifi as part of a major co-development deal.

/startups

Allica scoops £110 million in Series B

SME challenger bank Allica has agreed a £110 million Series B funding round led by Atalaya Capital Management, alongside existing lead investor Warwick Capital Partners.

/retail

Freetrade hits £8 million on first day of crowdfund

Commission-free stockbroking app Freetrade has raised £8 million on its first day of trading on Crowdcube

/payments

Visa invests in Australian Open Banking platform Basiq

Australian Open Banking platform Basiq has received an equity investment from Visa, continuing the trend for card schemes to invest in technology that threatens to bypass their traditional payment rails.

/startups

Payhawk to go global on $112 million funding round

Payhawk, the London-based and Bulgarian-founded fintech that provides businesses with a unified platform for managing cards, payments, invoices and expense management, has raised $112 million, valuing the three-year old company at $570 million

/payments

Airwallex hits $5.5 billion valuation on $100 million Series E extension

Digital payments platform Airwallex has topped up its $200 million Series E financing round with a further $100 million extension from Lone Pine Capital alongside other existing investors including 1835i Ventures, the venture capital partner to ANZ, and Sequoia Capital China.

/payments

Upgrade almost doubles valuation on $280 million funding round

Upgrade, a fintech startup that turns credit card balances into installment loans, has raised a $280 million Series F round at a $6 billion pre-money valuation, effectively doubling its valuation from just three months ago.

/startups

Branded rewards card Imprint raises $38 million

Late Show host James Corden and former Goldman chief Lloyd Blankfein have joined Thrive Capital and Stripe in a $38 million funding round for branded payments and rewards startup Imprint.