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Railsbank, the Banking-as-a-Service, raises $37M in growth funding

TechCrunch

Railsbank , the London-headquartered Banking-as-a-Service platform, has raised $37 million in new growth funding. This will include the launch of “credit cards as a service” in the U.S. Railsbank is a utility for the complete financial services backend: platform, connectivity, operations, scheme memberships (e.g.

Sri Lanka 115
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Revolut lets customers switch to Revolut Bank in 10 additional countries

TechCrunch

It lets the company offer some additional financial services without partnering with third-party companies. The Bank of Lithuania has granted a specialized license — it isn’t a full-fledged license per se, as it focuses on some activities. Revolut gets European banking license in Lithuania.

Lithuania 103
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Facebook Dating launches in Europe after lengthy delay

The Verge

The dating service offers the same features in Europe as it does in the US , using the existing profile you’ve created on Facebook to find potential matches. Facebook tailors these matches with your preferences, Facebook activity, and, if you opt in, groups and events.

Europe 88
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SumUp raises $895M in debt to double down on its B2C payments business

TechCrunch

SumUp , a London-based startup that helps businesses power revenues through card payments — by way of physical readers, online payments, invoices and other services — is itself powering up in a big way. and basing their service around small card payment dongles that attached to phones or tablets. in an all-cash deal.

Business 120
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Strava acquires Fatmap, a 3D mapping platform for the great outdoors

TechCrunch

Strava , the activity tracking and social community platform used by more than 100 million people globally, has acquired Fatmap , a European company that’s building a high-resolution 3D global map platform for the great outdoors. Terms of the deal were not disclosed. ” While Fatmap is incorporated in the U.K.

Map 102
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Nord Security, the startup behind NordVPN, raises its first-ever funding, $100M at a $1.6B valuation

TechCrunch

What’s notable here is that Vilnius, Lithuania-based Nord has been bootstrapped for the last 10 years (it was founded in 2012), a state that doesn’t seem to have held back its growth. “We prohibit any illegal activities and we define that in our terms of service,” he added.

Fund 98
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Revolut revenue grew by 57% in 2020

TechCrunch

We launched 24 new retail and business products, expanded into the US, Japan and Australia and launched banking services in Lithuania, all while significantly improving our profitability,” founder and CEO Nikolay Storonsky said in a statement. “We of the company’s (non-adjusted) revenue was related to its activities in the U.K.