UK-based Revolut landed $800 million in July with a $33 billion valuation. However, it still faces an uphill battle in its expansion abroad and increasing paid-account revenue. Chime raised $750 million in August and got a $25 billion valuation.

Revolut hits a peak of 15.5 million retail customers: The neobank’s accounts and revenue swelled even as its losses mounted—and its financials suggest it can still grow paid revenue and attract more non-UK customers.

Hundreds of US retail banks to take plunge into Bitcoin trading: Banking tech provider FIS and crypto custodian NYDIG are teaming up with smaller incumbents to offer Bitcoin trading—enabling established banks to compete with challengers like Revolut and Venmo.

Ukraine has an estimated 200,000 tech specialists working for companies like Google, Snap, Oracle, Revolut, and Wise, per Insider. Uber and Lyft are mostly focused on helping move employees to safety. Airbnb is offering free temporary housing to 100,000 refugees.

The UK also has several big neobanks for Chase to match its digital innovation against, including Revolut, which strives to be a super app for consumers, and Starling, which has thrived with getting people to use its current accounts.

This would benefit companies such as US-based PayPal and UK-based Revolut. However, tech giants like Amazon, Google, Apple, and Facebook parent Meta are also in a strong position to venture into the space if they choose to augment their current offerings with financial services.

UK-based Revolut raised $800 million in July 2021 with a $33 billion valuation. US-based Chime landed $750 million and got a $25 billion valuation in August 2021. UK-based Starling capped off a £322 million ($412.9 million) round in April 2021, with a pre-money valuation of £1.1 billion ($1.41 billion).

At the same time, executives are putting their organizations on war footing to solidify pandemic-induced digital gains and take on nonbank tech competitors: Revolut is attempting to build a financial super app, and Apple is pushing further into the banking space. Regulators are signaling decisions that could have a direct impact on how banks will allocate their technology spend.

Monzo’s losses widen while its revenue stays strong: The UK neobank’s annual report reveals a mixed bag of news: Its deposits are soaring, but it’s the subject of a Financial Conduct Authority (FCA) probe. Its results show it’s less volatile than Revolut, but it’s missing Starling’s stability.

Revolut rolls out business invoicing: The neobank is giving small and medium-sized businesses in the UK and across Europe the ability to run their collections processes through its app—its latest step in building a “financial super app” with a wide breadth of offerings.

Klarna and PayPal both revamped their apps in fall 2021 with additional shopping features, but Square, Affirm, Revolut, and others are also making noise about becoming super apps. In the future, these apps will likely add additional shopping, travel, and health marketplace features. Predictions. Consumers will hit a limit on how many subscriptions they’re willing to join.

Clients boosting its revenues include Bank of New York Mellon, Revolut, BlockFi, and eToro. It also benefited from diversifying its offering to include digital asset solutions beyond financial services—like helping ecommerce websites create NFTs on the back of their merchandise, per TechCrunch. What this means:.

These players have enabled the likes of Deliveroo, eBay, and Revolut to offer insurance on their platforms. In 2022, partnerships will gear up further, and Big Tech will make moves on this sector. Prediction. Big Tech wants to enter the embedded finance world, but the most successful ventures so far have been partnerships, such as between Apple Card and Goldman Sachs.

Many of the UK’s biggest fintech funding recipients such as Revolut and Checkout.com are playing key roles in customer experiences, transforming how consumers bank and pay. Latin America. Startup Investment Will Expand in the Region.