In today’s FinTech news, Gen Z banking, eSports payments and decentralized finance (DeFi) loans grab headlines, while a former Google executive heads to Brazilian payments FinTech Ebanx as president of global payments.
Meanwhile, Argentina Central Bank Governor Miguel Ángel Pesce sang praises for FinTechs’ ability to serve the unbanked and underbanked populations, but also warned that all digital banks are not created equal.
Mos Raises $40M to Grow its 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 original mission of financial aid and scholarships. It’s recently branched out into digital banking geared to Gen Z, offering debit cards along with no late fees, no overdraft fees and no minimum balances.
Founder and CEO Amira Yahyaoui said she wants to help all students get a handle on finances and have a solid footing as they leave college and enter the financial world of adulthood.
eSports Firm Unified Turns to FinTech Tipalti for Payouts
eSports company Unified is teaming up with payments service Tipalti to get money into the hands of tournament winners faster and more easily, helping better serve the community for players and talent by streamlining payments.
Paco Suro, Tipalti’s general manager of global payments, said the experience will be user-friendly and “illuminates the path to becoming a pro gamer.”
Mexican FinTech Uses DeFi to Provide Collateral-Free Loans to Small Businesses
Mexican company delt.ai, which offers corporate credit card-based lines of credit to small businesses, is tapping a DeFi lending protocol to qualify small business borrowers.
So far, some $40 million has been loaned, in part due to delt.ai’s collaboration with the TrueFi lending marketplace, which was developed by stablecoin issuer TrustToken (TrueUSD).
Ex-Google Exec Paula Bellizia Joins FinTech Ebanx
Paula Bellizia, a former Google executive with experience as a Microsoft vice president, is now the president of global payments at Brazilian payments FinTech Ebanx. Bellizia will be tasked with leading the company’s global sales, marketing, operation and expansion teams.
Bellizia is joining the Ebanx executive team in the midst of expansion, as the company recently picked up a $430 million investment from Advent International.
Argentina Central Bank Governor: FinTechs Boost Financial Inclusion
Argentina Central Bank Governor Miguel Ángel Pesce has accolades for the FinTech industry and what it’s done to bring financial services to the unbanked and underbanked. His one caveat, however, is that FinTechs are not financial institutions and as each one is different, they should be approached with caution.
“Not all FinTechs are the same,” Pesce said. “We insisted on the need for opening free and universal savings accounts. We did not have much success, and that space was later efficiently covered by the FinTechs. They are a new instrument, not financial entities, so we have to be very careful.”
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