Daily Fintech Podcast 2022.2.7

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💫 News Highlight: Jar raised $32 million in its Series A financing round, just months after securing its seed funding.

⚡ Just in Thought Machine has signed its second community bank in the US, Mascoma Bank.

⭐ Also, Robinhood’s losses widened substantially in Q4 as tumbling average user spend hurt trading.

👉🏻 Furthermore, Monument is increasing its headline rate to a huge 2.2 percent. That’s on its 5-year Fixed Term account, up from the 2.05 percent it previously offered, with no changes to its other accounts.

🪙 Crypto - Bakkt Holdings announced that Hanover Community Bank will join its early adopter program to connect to Bakkt’s cryptocurrency platform.

🚢 Partnerships - Cross River Bank is joining forces with fintech PayTile to deliver a peer-to-peer payments app that uses geo-location technology.

💰 Funding rounds & investments:

-Tribal Credit has raised $60 million in a Series B funding round led by SoftBank Group Corp. Latin America Fund, with participation from Coinbase Ventures.

-R2 announced on Thursday that it has raised a $5.9 million Seed round led by General Catalyst.

-Billhop AB announced it has raised €10.5 million, led by EQT Ventures with participation from Element Ventures.

-Founders Fund has led new investment in Ramp, at an $8 billion valuation, including the investment.

🪂 New Launches & Features:

Consumers will now be able to easily find sustainable options to shop in the Klarna app.

Paysend is expanding its peer-to-peer money transfer services globally.

Upgrade, Inc., has added a new feature: Shopping.

Sberbank has rolled out a service that lets customers send money to Alipay wallets in China using phone numbers.

Novo launched the Novo Virtual Card to provide small businesses with a fast, safe payment method that’s available from the moment they fund their Novo account.