Fintech Newsletter for 5/8/21

General News

Fintech companies PayPal and Square reported earnings this week.

PayPal earnings report

  • Total Payment Volume(TPV) of $285 Billion.
  • The total number of transactions was approximately 4.4 Billion.
  • Total “active accounts” of 392 million with 14.5 million net-net “active accounts” added this quarter.
  • Total merchants in the platform of 31 million with 1.4 million new merchants added this quarter.
  • PayPal tracks its engagement metrics as “transactions per active account” (i.e., Total number of transactions for last twelve months divided by the total number of active accounts for that quarter, with 42.2 transactions per active account the metric had a 7% year over year growth — which shows that PayPal customers have been using its product in high volumes in recent times compared to last year (i.e., pre-lockdown).
  • The Buy Now Pay Later(BNPL) trend continues to be strong, with $1B in TPV in the U.S alone. PayPal is quoted to have 30,000 merchants implementing their BNPL feature.
  • QR code-based transactions have increased as well, with nearly 1 million merchants accepting QR codes.
  • PayPal announced its partnership with Alibaba’s wholesale marketplace and Aliexpress, Alibaba’s retail global market. PayPal has entered a commercial agreement with FlutterWave to expand its presence in Africa. In the Middle East, they are partnering with TelR.
  • As previously mentioned in our newsletters, PayPal is planning to launch its “Super App” with its new digital wallet functionality so that consumers can have a one-stop app for all their financial transactions.
  • PayPal announced the completion of the acquisition of Israel-based cryptocurrency security startup -Curv. The company operates a cloud-based service to access crypto wallets without any hardware device and also has an approval process to mitigate risks with unauthorized withdrawals of crypto assets.

Square earnings report

  • 80% of total revenue came from “Cash App.”
  • 17% of total revenue came from Seller Ecosystem — transaction-based revenue ,second-most revenue-generating segment.

Less than expected April U.S job numbers released. to acquire Divvy, a leader in spend management for SMBs

New product announcements.

eBay plans to take crypto payments and allow NFT sales.

Tala and Visa partner to use crypto coins in emerging markets.

WhatsApp Pay enters Brazil’s Payment market.

Fintech New Venture and IPO

  • Shift Technology , a San Francisco based insurance fraud detection company,raised $220m in series D funding.
  • Upshot,Boston based blockchain-based protocol for questions and answers raised $7.5m in series A funding.
  • Bitski,a San Francisco based NFT enablement platform,raised $19m in series A funding.
  • Boost Payment Solutions,a New York based payment company ,raised $22m in series C funding.
  • HoneyBook,a San Francisco based client communication and financial management platform for service based SMBs and freelancers raised $155m in series D funding.
  • Persona,a San Francisco based platform that helps companies protect, verify and manage customer identities raised $50m in series B funding.
  • Vanta,a San Francisco based automated security and verified compliance platform ,raised $50m in series A funding.
  • LoanSnap,a San Francisco based lending startup,raised $30m in Series B funding.




Join us at

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Reinventing Rewards Market Empowered Customers With Better User Experience

Predictions for 2019

Robinhood App Is Not Free / Brave Rewards Almost Here

Natalija Prešern, MoneyRebel COO: Trust is an advisor’s biggest asset

Back to basics: how Satoshi designed Bitcoin for censor resistance

CryptoTask Partners with

Cryptocurrency borrowing without collateral. Next Generation Lending Protocol

Blockchain. Io : Marketplace That Bridged Multiple Value Of Cryptocurrencies.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store


Join us at

More from Medium

Product Overview 2022: Recap and Review

Product at ContactOut

SalesThe Transition to ‘Sales 2.0’​ and the Top 5 KPIs for Modern Sales

The Transition from Traditional Sales 1.0 to Modern Sales 2.0 in B2B.

Your First Steps Toward Data-Driven Decision Making

Data-Driven Decision Making