Venture funding

French mobile payments app Lydia has raised €40 million (about $45 million) in a Series B fundraising round led by Tencent Holdings, owner of WeChat Pay.

The challenger bank might use the proceeds from its latest funding round to buy other fintechs that would allow it to add more products and services, its CEO said.

Nationwide Building Society is investing in the U.K. fintech charity app Percent, broadening Nationwide's support of charities and expanding Percent’s user base beyond its traditional core segment of students and young adults.

The cloud-based payment network Rapyd is adding the newly founded venture capital firm Durable Capital as one of its investors.

The cloud-based payment network Rapyd is adding the newly founded venture capital firm Durable Capital as one of its investors.

Billionaire Jack Ma’s Ant Financial is planning to raise about $1 billion for a fund that will invest in startups from Southeast Asia to India and help strengthen its foothold in fast-growing mobile internet markets, a person familiar with the matter said.

India’s digital payments pioneer Paytm announced new funding from existing shareholders like SoftBank Group Corp.’s Vision Fund and new investors, as competition in the country’s finance sector heats up.

PayPal Ventures is part of an investment group that has raised $4.2 million for cryptocurrency risk management platform TRM Labs.

Fresh off its support of the Apple Card — deemed "the most successful credit card launch ever" by Goldman Sachs CEO David Solomon — the investment bank is fueling another card-as-a-service platform.

E-commerce and multi-channel fraud prevention software provider Riskified has received $165 million in a Series E funding round led by global growth investor General Atlantic.

Galileo has raised $77 million in its first round of venture capital funding backed by Accel and Ryan Smith, CEO of the software firm Qualtrics.

The U.K.-based fintech says that a recent crowdfunding campaign shows demand for its product, even though the amount it raised is well below funds obtained from VCs.

The company will use the funds to increase research and development efforts as well as expand its global presence.

Oak HC/FT is the lead investor in a $100 million round in Rapyd, a company that’s designed to serve a complex international supply chain.

Klar has completed two funding rounds — one for equity and one for debt — raising over $57 million in funding, including Santander’s InnoVentures as an equity investor.

The major technology companies that have chipped away at incumbent payment businesses face much larger competition from this year’s big processing mergers, but they’ve also bulked up through fundraising and product development.

Goldman Sachs, Elevar Equity and QED Investors are among institutions financing Mexican lenders that fund SMEs.

Mission Lane, which was spun off from LendUp in December, said Monday that Shane Holdaway took the helm in August after roughly a year serving as CEO of Barclays' U.S. consumer bank. The upstart lender also announced that it has raised $200 million in equity funding.

Plaid, the San Francisco-based financial technology infrastructure provider, has received strategic investments from Mastercard and Visa as part of a $250 million round of funding. Plaid did not disclose the two networks' specific investments.

Fintechs providing installment loans are attracting significant funding from investors who see opportunities in developed economies for consumer financing products, which are already well established in emerging markets.