We live in interesting “financial times” with FinTech transforming every sphere of how money is made and managed. Recent selection of FinTech Wire News only adds to this excitement, showing that modern technology contributes to the financial inclusion of different groups from all around the world, ranging from Nigerian businessmen, American working families to Lithuanian representatives of generation Z. Discover which FinTechs have rocked the boat this week!
Weekly FinTech News Digest 13 – 19 July 2021
$1.5 million and a SEC license for a Nigerian FinTech Chaka
$1.5 million and a SEC License for a Nigerian FinTech Chaka
Chaka is an enterprise which brings stock trading opportunities to Nigeria. It has just raised $1.5 million in a pre-seed round and has been licensed by SEC (The Securities and Exchange Commission), which makes it the first legal digital sub-broker in the country so far. Chaka offers solutions that make it possible for Africans to invest and trade in Nigerian, US, UK and international stock markets. This is a remarkable step in democratising access to trading in Africa so it happens digitally and across borders. The next step for Chaka will be to continue its expansion to other west African countries.
Read more about Top Trading Platforms to Watch
Esusu raises $10 million in series A funding with Serena Williams’ contribution
Win-win situation that solidifies the relationship between property owners and renters
Esusu is a FinTech which was created to meet the needs of American working families who might dream of buying their own home one day or make other life-enhancing investments. Set up by Abbey Wemimo and Samir Goel, it is a rent reporting platform that enables renters to build a credit score, creating a win-win situation that solidifies the relationship between property owners and renters. The company has just raised $10 million in a series A funding round with significant support from Serena Williams via her Serena Ventures. This success will be used to further the company’s growth and increase its cybersecurity.
Read more about Empathy as the Key to FinTech Startup Success
Better expands into British market by obtaining Trussle
United effort to fight for fairer mortgages
Accessible homeownership is the top priority for an American mortgage lender Better which has just started its expansion into the UK market by acquiring Trussle, a mortgage broking FinTech. It makes sense for these two companies to combine their business efforts as they have so much in common! They are both on a mission to simplify and accelerate the process of buying a house by digitising it and eliminating any fees or commissions. Trussle is this year’s winner of British Bank Awards in the Best Mortgage Broker Category, whereas Better was chosen the best Mortgage Lender in the Nerd Wallet’s Best-of Awards in 2020.
Read more How to Digitise Financial Services
True Savings ready to make an impact on Australian home owning market
Mortgage broking platform tempting Australians with innovation and tangible saving options
The need to improve the process of home owning has also been addressed by Pete Steel, a former digital chief of Commonwealth Bank of Australia, who has just launched True Savings. This is a mortgage broking platform tempting Australians with innovation and tangible saving options. The simple user-friendly feature called TrueCheck navigates the potential client towards two possible commercial routes of either taking a new loan or refinancing. Pete Steel: “We wanted to make it super easy for customers to check what they could be paying for their home loan – as quick as pricing a return flight between Sydney and Melbourne.”
Read more about Ways FinTech Innovations Improve the Customer Experience
Smart strategy by a new smart finance app W1TTY backed by former EU Commissioner
A smart move to start in central Europe where markets are not as saturated as in the West
W1TTY, a smart finance app is in the process of building up its momentum before the official launch in Lithuania and Poland in autumn. The product is mainly targeted at aspiring young graduates and professionals. It will cover a full suite of services including made to measure finance plans, money transfer options and multiple accounts. This will be accompanied by fancy customer support features such as video call customer service as well as financial education by video and podcast. W1TTY is a brainchild of Ammar Kutait, who successfully managed to engage a high-powered board of advisors including a former EU commissioner Lord Hill of Oareford. It feels like a smart move to start in central Europe where markets are not as saturated as in the West.
Read more about What Gen Z spend Their Money On
FinTech Wire – a selection of news that will keep you in the loop
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