Hello Fintech Friends,
This week we saw the launch of yet another (Current/Checking/Savings/Other) Account, with Wise the latest entrant in a long list of fintech and (just plain ole) tech companies looking to capitalise on the ever increasing demand for loyalty across consumer bases.
And I think that’s what a bank account has transitioned to. An (in most cases) loss leading anchor to either:
A) shore up usage of another core service
or
B) An anchor product through which a brand can try to establish itself as a top of wallet solution and layer on a plethora or alternate revenue streams (loyalty/insurance/lending/(mobile) data selling/ (user) data selling and everything else that comes with being the top dog of the wallet.
Brands like Wise, Revolut, Uber, Bolt, Verizon, Robinhood, Capital One, Capital on Tap, Coinbase and countless smaller brands. And whats more its getting faster and faster.
Accounts are on the up it seems.
Top of Wallet, Top of Mind!
In other news we are seeing the onward march of AI, Agents and whilst the endgame is anyones guess, directionally most fintech founders now know they have to place a directional bet.
My guess is that direction will be account shaped…
Please enjoy another week of fintech and banking news below.
And if you are in London, don’t forget about our monthly breakfast!
Have feedback for us? Let us know. Find me/us at @danpatcronin, and @twifintech,
Financial Services & Banking
9fin raised $170 million in Series C at a $1.3 billion valuation to scale its AI platform for debt markets and continue expanding in the US.
MillTech raised $60 million from Apax Digital Funds at a $325 million valuation to expand its FX hedging and cash-management platform, with a particular push into North America.
Origin raised $30 million in Series A+ to expand its AI-powered employee benefits platform.
Upvest secured $125 million in financing, including $90 million in equity and a $35 million debt facility, to scale its investment infrastructure across Europe.
Trent AI has emerged from stealth with $13 million in seed funding led by LocalGlobe and Cambridge Innovation Capital to help secure the agentic future
Inxy Payments raised an additional $4 million in seed funding, bringing its total seed round to $7 million, to expand its crypto and stablecoin payments platform internationally
Pipe raised $16 million from Fin Capital and MaC Venture Capital to support strategic growth and international expansion as it pushes toward profitability
Regulatory News
ClearBank Europe became the first Dutch credit institution to complete a MiCAR notification to offer digital-asset services in Europe.
The FCA confirmed that the application window for firms seeking permission under the UK’s new cryptoasset regime will run from 30 September 2026 to 28 February 2027.
The ECB set out a new comprehensive strategy for the future of European payments, covering wholesale, B2B, retail and cross-border payments, while also outlining its position on tokenised settlement assets including tokenised deposits and stablecoins.
Product Launches
Revolut began rolling out AIR, its AI assistant, inside the app.
Wise launched a UK current account, pushing further into everyday banking and taking a more direct run at incumbent high street banks
Circle launched CPN Managed Payments, a full-stack stablecoin settlement product aimed at PSPs, fintechs, banks and global platforms that want regulated stablecoin payments without directly managing digital assets.
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