Remove 2017 Remove incumbents Remove opportunity
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FintechOS nabs $60M for a low-code approach to modernizing legacy banking and insurance services

TechCrunch

“Challenger” startups in banking and insurance have upended their industries, and picked up significant business, by building more customer-friendly tools and services — more personalized, easier to access and usually competitively priced — than those typically provided by their bigger, incumbent rivals.

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YC W22 batch nets 24 African startups, including 18 from Nigeria

TechCrunch

” Founders : Henry Mascot started a company in 2017 to help hospitals digitize records. The only worry is incumbents might want to eat into Duplo’s meal — but then again, the market is massive. He teamed up with John Dada two years later to build Curacel, a fraud detection system for health companies at the time.

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UK challenger bank Starling raises $376M, now valued at $1.9B

TechCrunch

Challenger banks continue to see huge infusions of cash from investors bullish on the opportunity for smaller and faster-moving tech-based banking startups to woo customers from their larger rivals. Starling, founded in 2017, has now passed 2 million accounts, with 300,000 business accounts among them. In the latest development, U.K.-based

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Booz Allen Hamilton launches $100M corporate venture arm focused on early-stage startups

TechCrunch

. “Our Tech Scouting program gives us unique insight about where opportunities for hyper-growth exist. But anticipating opportunity isn’t sufficient – we need to deploy capital to move at digital speed,” said Brian MacCarthy, vice president of tech scouting and ventures at Booz Allen.

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Sequoia Heritage, Stripe and others invest $200M in African fintech Wave at $1.7B valuation

TechCrunch

The International Monetary Fund says that as of 2017, only 43% of adults in sub-Saharan Africa were “banked” by way of a traditional bank or mobile money account. ” Going up against incumbents. . ” Going up against incumbents. “The opportunity in front of the company is massive.

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Monzo Makes Money Work For Everyone

Y Combinator

2 Incumbent banks miss the mark in two crucial areas: The banking experience has not evolved to match modern consumer. In this post, we will walk through what drove Monzo’s early success, how it has come to dominate the UK market, and the company’s opportunity to change the landscape of global financial services with its beloved brand.

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Most fintechs partner with banks; Varo became one, and says it’s paying off

TechCrunch

The startup launched its banking services in 2017, aimed at making younger consumers comfortable doing all their banking online. Last month, Varo Bank celebrated the two-year anniversary of obtaining its national bank charter. The move made Varo the first-ever all-digital nationally chartered U.S. consumer bank. And if so, why?