In today’s FinTech news, Brazil’s FinTech Cerc is preparing to go public while Revolut is eyeing worldwide growth. Plus, Finicity and Finserv are collaborating to bring meaning to data collection.
Brazilian exchange receivable firm Cerc is looking toward a $100 million initial public offering (IPO) in funding as the company moves from its earlier beginnings seven years ago to help owners of receivables use them as collateral to get cheaper credit.
“We are negotiating funding with up to five fund investors to invest in new businesses,” Cerc founder and Chairman Marcelo Maziero told Reuters. “We should close in 2022 ready for an IPO.”
Revolut has a customer reach that goes beyond 18 million customers worldwide, but the firm is still striving to build out its platform to reach more users.
Its new remittance offer makes it possible for customers from the U.K., the European Union, Iceland, Liechtenstein, Norway, Japan, Singapore and Australia to send money to Colombia, Nepal, Peru, Bolivia, Guatemala, Egypt and Costa Rica within minutes, according to its latest news.
Finicity, Mastercard’s open banking platform, and payments and financial services company Fiserv are collaborating for data access. The data sharing is tapped via apps that use Finicity’s open banking platform, providing access to a range of financial services.
Fast and convenient payments? Everyone wants that.
Payment methods that facilitate fast and convenient ways to pay are gaining traction in the Nordics, to wit the adoption of deferred payment options with the likes of buy now, pay later (BNPL) giant Klarna, which recorded a 42% increase in global transaction volume and a 38% jump in global net operating income in 2021 over 2020 figures.
The use of virtual currencies in emerging markets has grown over the years, with Nigeria ranked third globally in terms of countries with the highest bitcoin trading volumes. Nigeria, with transactions worth more than $400 million, ranked just behind the U.S. and Russia.