The Week in Review

The Week in Review

Friday February 1, 2019 –

Here are the new and noteworthy stories we have been following this week.

Splitit Lists on Australian Securities Exchange (ASX) After Successfully Closing IPO

Splitit, an installment payment company listed on the Australian Stock Exchange raising AUD $12 million at a market cap of AUD $54 million.

Fintech companies raised a record $39.6 billion in 2018: research

VC-backed financial technology companies raised $39.6 billion globally in 2018, up 120% from the previous year.

Petal Raises $30 Million in Series B Funding, Led by Valar Ventures

New credit card issuer, Petal raised $30 million in a Series B round.

YC-backed Oxygen raises seed to bring digital banking to freelancers

Oxygen, a startup focused on the ‘freelancer’ segment raised $2.3 million from a variety of investors.

New community banks readying for launch in the US

Moxy Bank has received FDIC approval for its banking application, and VisionBank and Trustar Bank appear to be next in line.

Visa Inc. Reports Fiscal First Quarter 2019 Results

Visa reported $3 billion in net income and $5.5 billion in net revenue along with double-digit growth in payments volume and processed transactions.

PayPal Reports Fourth Quarter and Full Year 2018 Results

PayPal reported $584 million in net income and $4.23 billion in net revenue and a 20%+ increase in payments volume and transactions.

Mastercard Incorporated Reports Fourth-Quarter and Full-Year 2018 Financial results

Mastercard reported $0.9 billion in net income and $3.8 billion in net revenue along with double-digit gains in GDV and purchase volume.

With Big Acquisitions Still on Ice, U.S. Banks Find New Targets

While M&A activity within regional banks has been slow, they have been buying up non-bank firms.

Cross River and Railsbank form transAtalantic alliance

Cross River Bank is enabling Railsbank to offer a variety of API-powered, banking and payment processing services across the U.S.

Regulatory bodies open global sandbox

An international network of financial regulatory bodies is working on developing a sandbox across various countries and jurisdictions.