Capital markets

Mobile payments got an early start in parts of Africa more than a decade ago, but the continent's overall banking infrastructure lags far behind, creating a void for companies like AZA and WorldRemit to fill.

Starling Bank Ltd. is weighing plans for a fresh funding round that could value the U.K. challenger at around 2.5 billion pounds ($3.4 billion), according to people familiar with the matter.

Taavet Hinrikus turned his startup into the one of the world’s biggest digital-payment firms, giving returns of about 35,000% to early investors including Peter Thiel’s Valar Ventures.

The U.K. financial technology startup GoCardless raised $312 million in new funding to speed up its expansion in open banking across products and geogrophies.

Esusu, a financial technology company that aims to help bridge the racial wealth gap by reporting rent payments to credit agencies, has become one of only a few Black-owned startups to reach a valuation of $1 billion after closing a Series B round led by SoftBank Vision Fund 2.

The French bank and New York asset management firm will buy and hold inventory to meet clients’ future needs and track materials on a new software platform.

Home valuation professionals have had mixed feelings about automation out of concern that some forms could result in less accurate assessments.

The Rhode Island bank estimated that its revised overdraft practices will cost $40 million each year, but it noted that complaints to call centers are down 40% since the policy change.

Valuations for payment technology companies skyrocketed over the past year, pushed by a wave of public listings and record venture capital investments. Some potential acquirers are waiting for prices to cool.

Mizuho Financial Group, the large Japanese bank, has agreed to buy U.S.-based Capstone Partners to expand in the business of helping private equity firms raise funds.