Today in FinTech: Mos targets Gen Z
In Today’s FinTech News, Gen Z Banking, eSports Payments and Decentralized Finance (DeFi) Loans Are Headlining the Headlines, While a Former Google Executive Heads to Brazilian FinTech Ebanx Payments as President of Global Payments.
Meanwhile, Argentina’s Central Bank Governor Miguel Ángel Pesce praised the ability of FinTechs to serve unbanked and underbanked populations, but also warned that not all digital banks are created. equal.
Mos raises $40 million to grow his FinTech startup for students
San Francisco-based fintech startup Mos has raised $40 million at a $400 million valuation, helping the startup support students beyond its initial mission of financial aid and scholarships. It recently branched out into digital banking suitable for Gen Z, offering debit cards with no late fees, no overdraft fees and no minimum balance.
Founder and CEO Amira Yahyaoui said she wants to help all students master their finances and have a solid foundation as they leave college and enter the financial world of adulthood.
Esports company Unified turns to FinTech Tipalti for payments
Esports company Unified partners with payment service Tipalti to get money into the hands of tournament winners faster and easier, helping to better serve the community for players and talent by streamlining payments.
Paco Suro, Managing Director of Global Payments at Tipalti, said the experience will be user-friendly and “lights the way to becoming a professional gamer”.
Mexican fintech uses DeFi to provide collateral-free loans to small businesses
Mexican company delt.ai, which offers small businesses lines of credit based on corporate credit cards, uses a DeFi lending protocol to qualify small business borrowers.
So far, some $40 million has been lent, in part thanks to delt.ai’s collaboration with the TrueFi lending marketplace, which was developed by stablecoin issuer TrustToken (TrueUSD).
Paula Bellizia, ex-executive of Google, joins FinTech Ebanx
Paula Bellizia, a former Google executive with a background as vice president of Microsoft, is now president of global payments at Brazil Payments FinTech Ebanx. Bellizia will be responsible for leading the global sales, marketing, operations and business development teams.
Bellizia joins the growing Ebanx management team, as the company recently secured a $430 million investment from Advent International.
Governor of the Central Bank of Argentina: FinTechs drive financial inclusion
Central Bank of Argentina Governor Miguel Ángel Pesce paid tribute to the FinTech industry and what it has done to bring financial services to the unbanked and underbanked. His only caveat, however, is that FinTechs are not financial institutions and each is different, so they should be approached with caution.
“Not all FinTechs are the same,” Pesce said. “We have insisted on the need to open free and universal savings accounts. We didn’t have much success, and this space was then effectively covered by FinTechs. This is a new instrument, not financial entities, so we have to be very careful.