Underbanked 2 news and trends

Aviva Raises $5.5 Million to Provide Financial Services to ‘Underserved’
Investments // August 05, 2024

Mexico-based FinTech Aviva has raised $5.5 million in seed funding. “This oversubscribed round highlights the strength of our model’s unit economics, as well as our mission to provide innovative and accessible financial services to a market of 70 million people who are still underserved or...

Will 2024 See Crypto Make Good on Its Financial Inclusion Promise?
Financial Inclusion // January 04, 2024

Crypto had a bumpy, and at times wild, 2023. But industry observers and participants continue to believe that blockchain technology and cryptocurrencies have the potential to revolutionize financial inclusion for marginalized and unbanked communities worldwide. There are many ways in which blockchain technology and cryptocurrencies can remove barriers,...

Tala Reaches 1 Million Users in Philippines Four Months After Launch
Mobile Wallets // August 23, 2023

Tala says it is approaching 1 million wallet users in the Philippines after launching there in April. The announcement by the money app for the underbanked Wednesday (Aug. 22) comes months after it reached 8 million customers, and is happening amid a worldwide increase in...

Moove Raises $76 Million to Provide Financial Services for Mobile Gig Workers
Gig Economy // August 10, 2023

Moove has secured $76 million in new funding to expand its financial services platform for mobility gig workers. The new funding consists of $28 million in equity from new and existing investors, a process led by Mubadala Investment Company; $10 million venture debt from funds and accounts managed...

Interviews & Exclusives
Will 2024 See Crypto Make Good on Its Financial Inclusion Promise?

January 04, 2024
Crypto had a bumpy, and at times wild, 2023. But industry observers and participants continue to believe that blockchain technology and cryptocurrencies have the potential to revolutionize financial inclusion for marginalized and unbanked communities worldwide. There are many ways in which blockchain technology and cryptocurrencies can remove barriers, such as a lack of digital identity, for underserved individuals […]

Billers Challenged to Make Cash Part of the Digital Payments Experience

February 03, 2023
The conventional wisdom is that the shift to digital payments has led us all away from cash. Jamison Jaworski, GM-SVP of retail and Green Dot Network at Green Dot, and...

Real Time Payments Help Underbanked Consumers Find Financial Relief

July 07, 2021
One of the lesser-known troubles of the modern economy is the prevalence of unbanked and underbanked individuals. Unbanked individuals lack access to bank accounts while underbanked individuals have bank accounts...

High Tech Microlending — And Why Chickens Hatch Great ROI

June 08, 2020
The World Bank distributes about $25 billion a year to countries through governments that identify areas where investment is needed and capital can be deployed to build infrastructure. Traditional conduits...

Quick Reads
Mexican Banking FinTech Klar Aims for 2026 IPO

November 03, 2024
Mexican FinTech Klar is reportedly aiming to go public at the end of 2026. Juan Sarmiento, the company’s vice president of finance, told Bloomberg News Saturday (Nov. 2) that Klar is eyeing annual run rate of $500 million as a target for its initial public offering (IPO), projecting that it will hit that number in […]

Aviva Raises $5.5 Million to Provide Financial Services to ‘Underserved’

August 05, 2024
Mexico-based FinTech Aviva has raised $5.5 million in seed funding. “This oversubscribed round highlights the strength of our model’s unit economics, as well as our mission to provide innovative and...

Moove Raises $76 Million to Provide Financial Services for Mobile Gig Workers

August 10, 2023
Moove has secured $76 million in new funding to expand its financial services platform for mobility gig workers. The new funding consists of $28 million in equity from new and existing...

Digital Dollar Project: CBDCs Can Help the Unbanked

August 03, 2023
Could a central bank digital currency (CBDC) help America’s unbanked population? It appears that way, according to a new report by the Digital Dollar Project (DDP).  The organization announced Thursday...