Your Daily FinTech Podcast - June 9th, 2022

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Welcome to another episode of our Daily Fintech Podcast.

This podcast episode is sponsored by Contis, the European leader in Banking-as-a-Service. Contis is proud to deliver process-pay, a brand-new standalone processing solution ready to cater for any organisations card processing needs. To find out more visiting www.contis.com today!

THE NEWS HIGHLIGHT OF THE DAY IS

Apple is turning into a fintech company. The company announced several new features for the iPhone's Wallet app at its developers conference Monday that directly compete with products from other fintech companies such as Affirm and PayPal.

JUST IN:

After raising over $100m from investors since 2016, embedded finance provider Railsbank unveiled a dramatic rebrand at Money20/20 yesterday. “In our fast-moving world of amazing customer experiences, the finance industry has failed to evolve,” said Railsr CEO and co-founder Nigel Verdon. “We’ve changed our name to Railsr, and we’re making finance a phenomenal experience.”

ALSO:

Citi Group has completed the sale of its Australian consumer banking business to National Australia Bank (NAB). The business, including unsecured lending, residential mortgages, deposits, and wealth, is being transferred to NAB with approximately 800 Citigroup employees.

WHAT ABOUT FUNDING ROUNDS AND INVESTMENTS?

Ecuadorian payments infrastructure company Kushki has raised $100 million in an extension to its Series B round, more than doubling its valuation to $1.5 billion.

Morocco-based WafR has raised $455,000 in its latest funding round.

Yabie, a Swedish fintech company, secured €15M at a valuation of €91M in an oversubscribed funding round.

VirgoCX has raised $7.95 million in a Series A funding round that will help the firm expand globally and add products and services.

Stage is announcing the availability of its first product–flexible plans and packaging–as well as a $5.1 million seed round.

Hourly.io has closed in on $27 million in funding.

Zippi announced a $16 million (about BRL 82 million) funding round.

NymCard raised $22.5M in its latest Funding round.