Another week, another unicorn! Additionally, the FinTech community welcomes new challengers. At the same time, Canadians have to say goodbye to one of the most renowned digital banks that decided to leave the market.

Weekly FinTech news digest: 16—22 March 2021

Bitpanda becomes the very first Austrian FinTech unicorn

The startup closed a Series B round raising $170 million

That’s a superb beginning of the year for Bitpanda. Two weeks ago we informed about the release of the Bitpanda Card, a revolutionary mean of payment that integrates multiple cryptocurrencies, metals, and other assets. Now, Bitpanda has yet another reason to celebrate. The Series B round, carried out just a half year after the successful series A, allowed the startup to secure $170 million in funding, at the same time reaching the valuation of $1.2bn. Therefore, Bitpanda has officially become the first FinTech unicorn in Austria and is ready for further expansion in Europe and beyond.

Read more about the top FinTech startups to watch in 2021

CoinMENA crypto assets trading platform launched in the Middle East

The platform is available currently in Bahrain, UAE, Saudi Arabia, Kuwait, and Oman

The Middle East has gained a new, regulated and Sharia-compliant trading platform for crypto assets. The CoinMENA platform offers transactions (including deposits, withdrawals, and trading) in Bitcoin, Ethereum, Ripple, Litecoin, and Bitcoin Cash, and supports several local currencies. This way, CoinMENA targets an important niche in the MENA region. Although the platform is highly regulated and follows the strictest security measures, the users need less than a minute to complete the signup process. The startup plans to attract new users offering a time-limited special offer: a two-way referral program.

Read more about the top trading platforms

Revolut leaves Canada after unsuccessful beta stage

The FinTech launched in the country 18 months ago but failed to obtain a banking license

What went wrong? Apparently, Revolut couldn’t exit the beta phase in Canada to expand further in the country. The company has informed via Twitter that they are “not able to offer the range of services they had hoped at this stage”. What does it mean exactly? Despite the efforts, Revolut was unable to obtain a Canadian banking license, which reduced its offering on the market significantly. Therefore, the digital bank couldn’t compete effectively with the high street banks. However, Revolut is not giving up, and has assured Canadian users that it plans to return to the market as soon as it’s possible.

Read more about banking software development

Bitcoin payments via Twitter feature released by Bottlepay

The recently launched British startup plans to expand the functionality to other social platforms

This new feature rolled out by the startup that closed a seed round last month will allow users to send and receive Bitcoin payments as easy as sending a tweet… Literally. The user only has to type a simple tweet including payment details (amount, recipient and mention of Bottlepay account) to transfer funds either in Bitcoin or traditional currencies. But that’s not all: a similar feature is planned to be rolled out to other popular social channels, such as Reddit, Discord, Twitch, Telegram and Mastodon. Seems like the payments revolution will take place on social media!

Read more about the challenges and opportunities in PayTech

Ikigai, a new digital banking and asset management platform targets affluent customers in the UK

The startup’s offering will allow users to “spend well, save well and invest well”

Ikigai, founded by two former McKinsey employees Maurizio Kaiser and Edgar de Picciotto, combines the offering of a digital bank with wealth management solutions to serve a growing audience of young and affluent people. According to the company, its potential customers value the financial wellbeing and a sense of purpose in their financial lives, instead of a “mindless accumulation”, as the founders have put it in their own words. Ikigai offers a subscription model with a flat and transparent fee, giving access to the onboarding service carried out by a personal relationship manager, and the app features divided into three main areas: everyday spending, saving, and investing.

Read more about wealth management software development

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