Tag: neobank

Activity, Investment Banking

Germany’s Gen Z neobank Ruuky files for insolvency

January 11, 2023

Via: FinTech Futures

Writing on LinkedIn, the firm says that due to “challenging times” and despite its best efforts, “we were unable to overcome the market dynamics to raise additional funding”. Ruuky says the decision to file for insolvency “was not taken lightly” […]

Capital and Risk, Credit

Credit Suisse emerges as missing piece in neobank’s crumbled merger

August 22, 2022

Via: Banking Dive

If details seemed sparse in last month’s sudden disintegration of the proposed merger between neobank American Challenger and Patriot National Bank, one missing component, a court filing indicates, appears to be Credit Suisse. American Challenger sued Switzerland’s second-largest bank and […]

News, Regulations

UK neobank Kroo gains full banking licence

June 28, 2022

Via: FinTech Futures

With the new licence now in hand, Kroo can offer depositors protection through the Financial Services Compensation Scheme (FSCS) for up to £85,000. Founded in 2016, Kroo offers its 23,000 customers a current account with overdraft facilities along with socially […]

Activity, Investment Banking, Retail Banking

Neobank Step to launch crypto, stock investing product for users under 18

April 12, 2022

Via: Banking Dive

Step said it has designed the new investing feature responsibly, “with teens’ safety top of mind.” Parents will be able to oversee their teen’s access to the investing feature and will have the ability to manage their teen’s monthly limits, […]

Activity, Corporate Banking

Indian SME neobank Open gains backing from Google in $100m Series C

October 13, 2021

Via: FinTech Futures

The bank has raised $100 million in a Series C led by Temasek and featuring Google. Tiger Global, 3one4 Capital, and SBI Investment also participated. Now valued at around $500 million, TechCrunch reports the bank is seeking to quickly raise […]

Activity, Investment Banking

Digital banking start-up Mercury hits $1.6bn valuation with new $120m funding

August 3, 2021

Via: FinTech Futures

The challenger says the funds take its total valuation up to $1.62 billion, making it the country’s latest banking unicorn. The raise also included participation from Andreessen Horowitz, CRV, and Sapphire Ventures as well as a number of angel investors. […]

Activity, Retail Banking

Neobank Lili raises $55M as customer base expands

May 11, 2021

Via: Payments Dive

Lili, a neobank, announced Tuesday that it has raised $55 million in this latest round of fundraising, giving it $80 million in capital raised so far. Since its prior funding round in November last year, the company’s customer base has […]

Activity, Investment Banking

Goldman Sachs invests $69 million in British digital bank Starling

April 19, 2021


LONDON — British digital bank Starling has raised £50 million ($69 million) in funding from Goldman Sachs’ growth equity investment arm. The fresh cash comes on top of a £272 million investment round Starling announced last month that valued the […]


France’s central bank warns fintech industry of rules when using term “neobank”

April 12, 2021

Via: Banking Technology

The Prudential Control and Resolution Authority (ACPR), which operates under the Banque de France, issued a statement on 6 April. It stated that “the term ‘neobank’ must necessarily qualify a credit institution”. The regulator is wary firms are “mislead[ing] users […]