Fintech Newsletter for 5/15/21

Inflation Scare or Real inflation?

  1. Global supply chain shortage and low inventory levels: The pandemic-based lockdowns have caused various industries’ supply chain problems. For example, I had to wait five months to replace my dishwasher since all the Box stores had run out of inventory and were waiting for new units to arrive from out-of-country shipments.
  2. Unable to add more jobs: In April, employers could only add 266k jobs, which was the lowest number of monthly jobs added in the year. The numbers were way below market expectations. The puzzling situation is that employers had more vacancies that they were not able to fill. One of the arguments for unfilled positions is that new stimulus checks may have caused the companies’ difficulties to fill these vacancies.
  1. Recent stimulus checks: The new round of stimulus checks will increase consumer spending and hence increase the demands of goods and services.
  2. Increased vaccination drive: The vaccination drive in the U.S has lessened the fear for people to go out, which has increased the demand compared to the lockdown times from last year.

Send money from the U.S to India or Singapore using Google Pay.

  1. Speed: 70+% of people responded that they would make more online payments if it were faster. Almost the same percentage of people wanted a real-time experience to make them comfortable using cross-border payments.
  2. Security: Majority (80+%) of people felt secure performing cross-border transactions from a trusted brand, and other limiting factors were fear of entering wrong information and fraudsters causing unwanted damage.
  3. Certainty: most people wanted faster confirmation and expressed they would get anxious when there was a delay receiving confirmation.

Elon musk stops accepting Bitcoin payments for Tesla.

Facebook continues to make strides with “DIEM.”

Fintech New Venture and IPO

  • Relay, Toronto based digital banking platform for small business ,raised $19.4 in equity funding.
  • Pomelo,Argentina based fintech — as -service platform for LatAm, raised $9m in seed funding.
  • Collective,a San Francisco based back-office platform for self-employment,raised $20m in series A funding.
  • Planck,a New York based data platform for commercial insurance ,raised $20m in equity funding
  • Stampli, California based software platform for corporate invoice management, raised $50m in Series C funding.
  • Treasury Prime, a San Francisco based banking-as-a-service,startup raised $20m in Series B funding.
  • Sanlo,a San Francisco based financial tool-kit for app and gaming publishers,raised $3.5m in seed financing.
  • Lili,a New York based mobile banking solution for freelancers ,raised $55m in Series B funding.

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