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Scandal-hit German firm Wirecard warned investors that the €1.9bn it has spent the last several weeks searching its banks for probably does not exist. The fintech payments firm said it would probe whether its trustees who set up the cash fund acted for the “benefit of the company”, it added in a statement on Monday….
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Galina is a Hubspot-certified Technical Writer with over 10 years of experience in working with Fortune 500, private investment, banking, FOREX and niche tech companies as well as crypto and blockchain startups. She has worked with high-profile companies in the blockchain cryptocurrency field as well as Forex veterans like Alpari and FXTM and major tech…
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Wirecard shares plummeted more than 66% on Thursday morning after the German payments group said its auditor had found a €1.9bn (£1.71bn) black hole in its accounts. The fintech firm said there were indications a Wirecard a trustee had tried to “deceive the auditor and create a wrong perception of the existence of cash balances”…
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UK digital bank Monzo completed a fundraising round at a 40% discount, showing that the amount of cash available to fintechs is being squeezed as part of the fallout from coronavirus pandemic. Monzo’s valuation fell to £1.25bn as part of a new £60m funding round for the challenger bank that was founded five years ago….
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Over the last two weeks, six companies have filed for a US initial public offering (IPO) which is higher than the total number of filings in April. Fintech payments processor Shift4 Payments and online car dealer Vroom are among the companies that have filed for an IPO. Vroom is backed by Bill Gates’ Cascade investment…
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Smart devices and a booming global eCommerce market have driven the rapid adoption of digital payments worldwide. Digital payments have changed the payment industry traditionally dominated by cash and credit cards, offering consumers lower fees and faster transfers at the touch of a button. As one of the first and biggest players in the digital…
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In their own industries, companies such as Apple, Microsoft, Facebook, and McDonald’s are always vying for superiority. Over the last decade, many of these household names and their respective investors, have seen their value strengthen, resulting in financial gains for all involved. But, with the gift of hindsight, what are the companies that would have…
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Struggling MoneyGram’s (NYSE: MGI) stock price has received a much needed support from the robust growth in digital channels last month, helping offset the negative impact of coronavirus related-lockdowns at its outlets. The Dallas-based firm, which handles remittances and cross-border payments. said that its digital transactions surged 81% year over year in April, accounting for…
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Chinese tech conglomerate Tencent will report first-quarter earnings on Wednesday after the Hong Kong market closes, and is expected to post earnings per share to rise 16% year-over-year in the quarter, lifted by blockbuster games, though advertising and payments could be weaker due to reduced business as a result of the coronavirus. Analysts expect Tencent,…
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CFD brokers offer online trading services in a market that is relatively less regulated than traditional security exchanges where actual securities are traded. In recent years, the need for regulation in the industry has become a necessity. One of these top-tier regulators is the Australian Securities and Investment Commission (ASIC) which was founded in 1998…
