Fintech

Platform 9 Capital Corp. Announces Qualifying Transaction with Sol Cuisine Inc.

Published

4 years ago

March 8, 2021

Toronto, Ontario–(Newsfile Corp. – March 8, 2021) – Platform 9 Capital Corp. (TSXV: PN.P) (the “Company” or “Platform 9“) is pleased to announce that it has entered into of a Letter of Intent dated March 5, 2021 with Sol Cuisine Inc. (“Sol Cuisine“) to enable Sol Cuisine to complete a going-public transaction in Canada (the “Proposed Transaction“).

ABOUT SOL CUISINE

Sol Cuisine is a fast-growing producer of branded, consumer-preferred plant-based protein offerings across key center-of-plate and appetizer categories. Sol Cuisine’s products are offered through an established omni-channel distribution platform in Canada and the U.S. and are available in over 11,000 stores and more than 41,000 unique points of distribution. Over a history of 20+ years, Sol Cuisine has consistently demonstrated an ability to innovate and delight customers in Canada and the U.S., while remaining true to its commitment to producing great tasting products that are nutritionally superior both to meat-based offerings and to competitive plant-based products. Sol Cuisine’s taste and nutritional superiority has also resulted in private label contracts with some of the most recognized grocery retailers in North America. These products are all produced at a state of the art, 35,000 square foot facility in Mississauga, Ontario, capable of supporting up to 10 million kilograms of volume per annum. Sol Cuisine is incorporated under the laws of Canada.

In conjunction with, and prior to the closing of the Proposed Transaction, Sol Cuisine intends to complete a brokered private placement offering of subscription receipts of Sol Cuisine (each, a “Subscription Receipt“) for gross proceeds of $30.0 million, led by Canaccord Genuity Corp. (the “Private Placement“), with an option to be granted to the agents to increase the size of the Private Placement by up to $4.5 million for total gross proceeds of $34.5 million. It is anticipated that each Subscription Receipt will be automatically exchanged for one common share of Sol Cuisine (each, a “Sol Cuisine Share“) upon the satisfaction of specified escrow release conditions, which will include, among other things, the completion or waiver of all conditions precedent to the Proposed Transaction and the conditional approval for listing of the common shares of the resulting issuer (the “Resulting Issuer“) on the TSX Venture Exchange (the “TSXV“).

ADDITIONAL TERMS OF THE PROPOSED TRANSACTION

For the purposes of the Proposed Transaction, the deemed value of each outstanding common share of Platform 9 will be approximately $0.1327 (on a pre-consolidation basis). Pursuant to the Proposed Transaction, it is currently intended that: (i) the outstanding common shares of Platform 9 will be consolidated at a consolidation ratio to be determined by the parties to the Proposed Transaction based on the price per Subscription Receipt of the Private Placement (the “Consolidation“); and (ii) the holders of Sol Cuisine Shares (including those investors in the Private Placement) will receive one (1) common share of the Resulting Issuer (on a post-Consolidation basis) in exchange for each outstanding Sol Cuisine Share. Following the completion of the Proposed Transaction, the securityholders of Sol Cuisine (including those investors under the Private Placement) will hold a significant majority of the outstanding common shares of the Resulting Issuer.

Platform 9 intends that the Proposed Transaction will constitute its “Qualifying Transaction” under Policy 2.4 – Capital Pool Companies of the TSXV. The Proposed Transaction will be an arm’s length transaction.

A comprehensive news release with further particulars relating to the Proposed Transaction, financial particulars, transaction structure, descriptions of the proposed management and directors of the Resulting Issuer, terms of any sponsorship, if applicable, among other particulars, will follow in accordance with the policies of the TSXV.

Completion of the Proposed Transaction is subject to a number of conditions including, but not limited to: (a) completion of satisfactory due diligence; (b) execution of a definitive agreement; (c) receipt of regulatory approvals; (d) acceptance of the Proposed Transaction as Platform 9’s Qualifying Transaction by the TSXV; (e) receipt of approval for the listing of the common shares of the Resulting Issuer by the TSXV; (f) shareholders of Platform 9 approving certain matters ancillary to the Proposed Transaction, including the Consolidation, the appointment of new director nominees of Sol Cuisine and a change in name of Platform 9 to include “Sol Cuisine”, all subject to the completion of the Proposed Transaction. There can, however, be no assurance that the Proposed Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the filing statement to be prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon.

Trading in securities of a capital pool company should be considered highly speculative. Shares of Platform 9 are currently halted from trading on the TSXV, and trading is not expected to resume until closing of the Proposed Transaction.

This press release is not an offer of securities for sale in the United States. The securities described in this press release have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act of 1933, as amended) absent registration or an exemption from registration. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction where such offer, solicitation, or sale would be unlawful.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the Proposed Transaction and has neither approved nor disapproved the contents of this press release.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS

This press release includes forward-looking information within the meaning of Canadian securities laws regarding Platform 9, Sol Cuisine and their respective businesses, which may include, but are not limited to, statements with respect to the completion of the Proposed Transaction, the terms on which the Proposed Transaction is intended to be completed, the ability to obtain regulatory and shareholder approvals and other factors. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of each entity, and are based on assumptions and subject to risks and uncertainties. Although the management of each entity believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this press release, including completion of the Proposed Transaction (and the proposed terms upon which the Proposed Transaction is proposed to be completed), may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the industry, market conditions, economic factors, management’s ability to manage and to operate the business of the Resulting Issuer and the equity markets generally. Although Platform 9 and Sol Cuisine have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and neither Platform 9 and Sol Cuisine undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

About Platform 9 Capital Corp.

Platform 9 Capital Corp. is incorporated under the laws of the Province of Ontario and is a Capital Pool Company listed on the TSXV. It has not commenced commercial operations and has no assets other than cash. For further information, please see the final prospectus of the Company dated May 17, 2018 filed on SEDAR at www.sedar.com.

For more information please contact:

John Travaglini, Chief Executive Officer
Platform 9 Capital Corp.

Telephone: (416) 861-1100

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/76380

Fintech

Fintech Pulse: Your Daily Industry Brief – April 25, 2025 | Nubank, Fiserv, LendMN, Clara, Alternative Payments

Published

7 hours ago

April 25, 2025

Peter Tolan

Welcome to today’s Fintech Pulse, your op-ed–style deep dive into the developments reshaping financial technology. In this edition, we examine five pivotal stories—from strategic regulatory wins and M&A moves to capital infusions empowering underserved markets. Our analysis delivers not just the facts, but the insights driving tomorrow’s fintech landscape.

1. Nubank Secures Mexican Banking License

News Summary
Brazil’s digital banking powerhouse Nubank has cleared a major regulatory hurdle in Mexico, obtaining initial approval from the National Banking and Securities Commission to transition from a payments-focused issuer to a full-service bank. This milestone permits Nubank to broaden its product suite—adding salary deposits, expanded savings offerings, and potentially consumer loans—currently restricted under its existing license. With over 10 million customers in Mexico, the move cements Nubank’s regional footprint.
Source: Reuters

Analysis & Commentary
Nubank’s license approval represents a calculated shift from neo-banking into universal banking, mirroring strategies by other challengers seeking diversified revenue streams. By evolving into a full bank, Nubank can integrate deposit-taking operations with cross-sell opportunities for credit, insurance, and investment products. This vertical integration not only boosts customer lifetime value but also insulates against margin compression in transactional services.

Industry watchers should note that Nubank’s success could spur incumbents to accelerate digital transformation, potentially igniting a wave of partnerships or counter-moves across Latin America’s top banking markets.

2. Fiserv to Acquire Money Money in Brazil

News Summary
U.S. payments stalwart Fiserv has inked a definitive agreement to acquire Brazilian fintech Money Money Serviços Financeiros, aiming to enhance its suite of merchant services for Latin America’s SMB segment. Pending approval by Brazilian regulators, the deal is slated to close in Q2 2025. Through this acquisition, Fiserv gains localized technology, a built-in merchant portfolio, and foothold in one of the fastest-growing digital payments markets.
Source: Electronic Payments International

Analysis & Commentary
The Fiserv–Money Money merger exemplifies established fintech firms’ appetite for inorganic growth in emerging markets. Rather than building solutions from scratch, acquiring a homegrown player accelerates time-to-market, leverages regulatory know-how, and taps existing customer trust.

Strategically, Fiserv’s playbook highlights three key benefits: 1) Market entry at scale, 2) Technology integration with minimal friction, and 3) Enhanced local relationships—factors critical in regions where regulatory complexity and cultural nuances can hamper pure digital entrants. As competition intensifies, incumbents and challengers alike will reassess M&A as the quickest path to growth.

3. LendMN Raises $20 Million to Drive Inclusion in Mongolia

News Summary
LendMN, Mongolia’s leading digital lending platform focused on micro, small, and medium enterprises (MSMEs), has secured a $20 million debt facility from Lendable. The injection will enable LendMN to expand its tech-enabled lending to underserved MSMEs, many of which lack access to traditional credit. Since launch in 2017, LendMN has disbursed over $70 million across 3,800 borrowers, catalyzing economic participation in remote regions.
Source: Financial IT

Analysis & Commentary
Fintech’s greatest promise lies in democratizing finance—and LendMN is a textbook case. By leveraging alternative data, digital onboarding, and remote underwriting, the platform bypasses hurdles that exclude rural entrepreneurs.

This funding underscores a broader shift: investors are increasingly channeling capital into purpose-driven fintechs that marry profitability with social impact. As LendMN scales, expect partnerships with global development banks and regional regulators to further legitimize digital credit as a cornerstone of economic growth in underserved territories.

4. Clara’s Meteoric Rise in Latin America

News Summary
Mexican fintech Clara has skyrocketed from $102,000 in first-year revenue to $28.3 million by 2023, earning a unicorn valuation north of $1 billion. Operating across Mexico, Brazil, and Colombia, Clara offers corporate spend management, expense tracking, and virtual cards. Despite its rapid growth, Clara faces headwinds: fragmented regulatory regimes, low financial literacy, and significant unbanked populations.
Source: Financial Times

Analysis & Commentary
Clara’s trajectory illustrates the dual-edged nature of rapid scale: while its product-market fit in corporate expense management is undeniable, sustaining growth demands navigating divergent compliance frameworks and investing in customer education.

Opinion: Clara’s next frontier should be embedded finance—integrating expense tools directly into ERP systems and e-commerce platforms. By shifting from a standalone app to an API-first infrastructure, Clara can embed its services where customers already work, accelerating adoption and deepening stickiness.

5. Alternative Payments’ $22 Million Funding Round

News Summary
Embedded fintech specialist Alternative Payments has raised $22 million in a Series B round led by strategic investors. The capital will fuel product development for seamless integration of payments, credit, and loyalty directly into non-financial platforms—retail, gaming, and SaaS ecosystems. This trend of “fintech as infrastructure” is gaining traction as businesses seek new monetization avenues.
Source: Axios Pro

Analysis & Commentary
Embedded fintech is more than a buzzword—it’s the next frontier of customer experience. By migrating financial services under the UI of non-financial apps, companies can drive conversion, loyalty, and ancillary revenue without re-directing users to external portals.

Looking ahead, partnerships between fintechs like Alternative Payments and major platform providers (e.g., e-commerce marketplaces, ERP vendors) will accelerate. The winners will be those who provide turnkey, compliant solutions that integrate seamlessly into existing tech stacks while managing regulatory risk.

6. Emerging Themes & Strategic Imperatives

From Challenger to Universal Bank: Nubank’s licensing pivot signals a maturation trend—fintechs evolving into full-service banks to command broader customer value chains.
Strategic M&A in Growth Markets: Fiserv’s Money Money acquisition underscores M&A as the fastest path to market in complex, high-growth regions.
Capital for Inclusion: LendMN’s latest facility reflects sustained investor appetite for fintechs driving social impact in underserved areas.
API-First Expansion: Clara and Alternative Payments exemplify the shift toward embedded finance, offering modular, scalable solutions that plug into enterprise workflows.
Regulatory Adaptation: Across markets, success hinges on navigating evolving compliance regimes; firms that can anticipate and adapt will secure durable advantages.

Opinion-Driven Takeaway:
The fintech sector’s trajectory in 2025 is defined by convergence—between digital banking and universal banking, between fintechs and incumbents via M&A, and between finance and everyday digital experiences through embedded APIs. To thrive, companies must balance innovation with regulatory foresight, pursue partnerships that accelerate scale, and root their growth in genuine customer value.

Conclusion

Today’s news paints a vivid picture: digital banking pioneers are leveling up to universal banking, payments giants are buying local champions to accelerate Latin American expansion, capital is flowing to fintechs advancing inclusion in frontier markets, and embedded finance continues its march toward ubiquity. For industry observers and participants alike, these developments affirm that fintech’s next chapter will be written in collaboration—with regulators, incumbents, and global investors—all striving to make finance seamlessly accessible to everyone, everywhere.

Stay tuned for tomorrow’s Fintech Pulse, where we’ll continue to bring you the insights that matter most.

The post Fintech Pulse: Your Daily Industry Brief – April 25, 2025 | Nubank, Fiserv, LendMN, Clara, Alternative Payments appeared first on News, Events, Advertising Options.

Fintech

Fintech Pulse: Your Daily Industry Brief – April 24, 2025 (Revolut, Citigroup, BNP Paribas, Coinbase, Omnea, HKIAS)

Published

1 day ago

April 24, 2025

Peter Tolan

In today’s rapidly evolving financial landscape, staying abreast of the latest developments in fintech is not just an advantage—it’s imperative. From blockbuster profit milestones to seismic collapses, and from talent wars in U.S. banking hubs to pioneering academic–industry collaborations in Hong Kong, April 24, 2025, offers a whirlwind of insights. In this edition of Fintech Pulse, we dissect five pivotal stories, offer opinion-driven analysis, and explore the broader industry implications.

1. Revolut’s Profit Bonanza: Mainstreaming the Super-App

What happened:
British fintech unicorn Revolut announced a record pre-tax profit of £1.1 billion ($1.46 billion) for the year ending December 31, 2024—up 149% year-on-year—on revenues of £3.1 billion, a 72% increase over 2023.

Why it matters:
Revolut’s profit surge marks its transformation from a niche currency-exchange app into a full-blown digital bank aiming for global scale. Having secured a UK banking license after a protracted three-year approval process, it now seeks to expand into lending products—credit cards, personal loans, and mortgages—to capture a larger share of customers’ financial lives.

Analysis & Commentary:
In my view, Revolut’s results underscore a broader trend: “super-apps” consolidating diverse financial services under one roof. Crypto trading and wealth management now account for a significant slice of profits, but true differentiation will come from how seamlessly Revolut integrates lending. As traditional banks shutter branches, fintech challengers can accelerate customer acquisition—but must manage credit risk carefully to avoid overextension. I believe regulators will keep a close watch on how Revolut scales its loan book, especially given its 86% year-on-year increase in customer lending balances to £979 million.

Source: CNBC

2. Stenn’s Implosion: A Cautionary Tale in Trade Finance

What happened:
Trade-finance fintech Stenn Technologies, once touted as a $1 billion rising star, collapsed into administration last December, leading to the loss of most of its 200 jobs. Investigations revealed that major banks—including Citigroup and BNP Paribas—backed deals they barely vetted, missing warning signs as weekly deal summaries ballooned to nearly $1 billion in size.

Why it matters:
Stenn’s collapse highlights persistent due-diligence gaps in trade finance. As fintechs promise speed and efficiency, established banks must not sacrifice risk controls for deal flow. The fallout eroded confidence and may prompt stricter counterparty assessments industry-wide.

Analysis & Commentary:
I argue that this episode is symptomatic of a “too eager to lend” mindset. In an environment of slackening yields, large banks pursued yield-rich fintech credit lines, only to face unexpected defaults. Going forward, I expect banks to re-evaluate their fintech partnerships, incorporating more robust real-time monitoring and third-party risk assessments. Stenn’s demise should catalyze the adoption of blockchain-based trade-finance platforms that embed transparency and immutable audit trails. Until then, caution remains the watchword.

Source: Bloomberg

3. Coinbase’s Southern Pivot: The Talent Play

What happened:
Coinbase, the largest U.S. cryptocurrency exchange, is targeting Charlotte, North Carolina, for a major talent investment—adding over 130 employees to its compliance and customer-support teams and potentially scaling to 1,000 new U.S. hires this year.

Why it matters:
Charlotte has long been a banking powerhouse, but its rising pool of tech talent makes it an attractive fintech hub. Coinbase’s move signals a shift in talent strategy: “meet talent where they are,” rather than concentrate in coastal tech camps.

Analysis & Commentary:
In my assessment, spreading operational centers beyond saturated markets is a savvy cost and culture play. By embedding in Charlotte, Coinbase gains access to experienced banking professionals and benefits from lower cost structures. However, maintaining a cohesive company culture amid geographic dispersion will be a challenge. Remote-first models must be balanced with local engagement to foster innovation. I anticipate other crypto players following suit, seeking a “hybrid hub” approach across U.S. secondary cities.

Source: Axios

4. Omnea’s eProcurement Crown: The Automation Imperative

What happened:
Procurement orchestration platform Omnea clinched the “Best Overall eProcurement Software” award at the 2025 FinTech Breakthrough Awards, recognized for its AI-driven intake, deduplication, and end-to-end automation.

Why it matters:
Procurement remains a pain point for enterprises—manual approvals, fragmented tools, and shadow processes lead to inefficiencies and maverick spending. Omnea’s win spotlights a surging wave of procurement fintech aimed at centralizing workflows, enforcing policies, and integrating with ERP ecosystems.

Analysis & Commentary:
I believe Omnea’s approach exemplifies the next frontier of “invisible finance”—embedding financial controls directly into business processes via Slack, Teams, or web portals. By surfacing policy-aligned choices and automating renewal reminders, companies can mitigate risk and free strategic buyers from administrative drudgery. Given Omnea’s backing by Spotify, Wise, and Pleo post-Series A, it’s clear that market demand for frictionless procurement tools is accelerating. Expect consolidation as ERP vendors scramble to embed or acquire these specialized platforms.

Source: FinTech Breakthrough

5. HKIAS Workshop: Bridging AI and Fintech Frontiers

What happened:
The Hong Kong Institute for Advanced Study (HKIAS) at City University of Hong Kong hosted a “Mini Workshop on AI and Fintech” featuring Professors David D. Yao, Houmin Yan, and Guangwu Liu. Key presentations covered emission-trading risk hedging, AI-driven credit-risk management for Amazon seller financing, and automated market-making research.

Why it matters:
Academic–industry collaboration is vital for next-generation fintech innovation. By tackling real-world challenges—carbon cost integration, dynamic hedging, AI credit scoring, and automated trading—researchers and practitioners can co-develop solutions that scale globally.

Analysis & Commentary:
I contend that Hong Kong is positioning itself as a “Fintech Alpha Node” for Asia, leveraging top-tier academics to incubate disruptive ideas. The workshop’s focus on tokenized clean-energy assets and AI for credit decisions signals where investment dollars will flow: sustainable-finance fintech and machine-learning risk engines. As regulatory sandboxes in Hong Kong and beyond open, such cross-pollination workshops will be the crucible for breakthrough products.

Source: Newswise

Conclusion: Charting the Course Ahead

Today’s headlines—from Revolut’s meteoric profit to Stenn’s cautionary collapse, and from Coinbase’s talent migration to Omnea’s automation triumph, capped by HKIAS’s academic symposium—paint a vivid picture of an industry in flux. Key themes emerge:

Super-App Evolution: Fintechs are racing to embed a full suite of services—lending, trading, payments—blurring lines with incumbent banks.
Risk Control Reboot: Collapses like Stenn’s will drive banks to reinforce due diligence and embrace transparent, blockchain-backed workflows.
Talent Democratization: The coastal tech epicenters are ceding ground; remote and regional hubs are powering the next wave of fintech innovation.
Invisible Finance & Automation: Real-time, AI-driven tools are automating procurement and credit decisions, embedding controls directly into workflows.
Academic–Industry Fusion: Workshops bridging theory and practice are critical to solving complex challenges—from ESG-linked assets to automated trading.

As we digest these developments, one thing is clear: fintech’s pulse is strong, but its beat demands constant vigilance, adaptability, and a thirst for innovation. Join me tomorrow for another briefing—because in fintech, today’s news is tomorrow’s roadmap.

The post Fintech Pulse: Your Daily Industry Brief – April 24, 2025 (Revolut, Citigroup, BNP Paribas, Coinbase, Omnea, HKIAS) appeared first on News, Events, Advertising Options.

Fintech

Fintech Pulse: Your Daily Industry Brief – April 23, 2025 – Synapse, Cathay Innovation, Chemistry, Truth.Fi ETFs, Daira

Published

2 days ago

April 23, 2025

Peter Tolan

Welcome to Fintech Pulse, your daily op-ed style briefing that distills today’s most pivotal developments shaping the financial technology landscape. From regulatory scrutiny of banking-as-a-service models to the unfolding era of AI-driven fintech, we analyze the stories behind the headlines—and what they mean for innovators, investors, and regulators.

1. Regulatory Spotlight: Senators Demand Federal Reserve Records on Synapse Failure

In a dramatic escalation of oversight pressure, a bipartisan group of senators—led by Sen. Elizabeth Warren (D-MA) and Sen. John Fetterman (D-PA)—has formally demanded that the Federal Reserve hand over all supervisory records related to last year’s collapse of fintech middleware provider Synapse. According to reporting by The Wall Street Journal, the senators allege that warning signs of Synapse’s missteps “should have prompted immediate supervisory and enforcement intervention” by the Fed.

Source: PYMNTS.com.

Key Takeaways

Middleman Risks Exposed: Synapse acted as the on-ramp between neobanks and chartered banks, holding customer deposits at banks like Evolve Bank & Trust—yet when Synapse filed bankruptcy in April 2024, an estimated $96 million of customer funds went missing and were not covered by FDIC pass-through insurance mechanisms.
Regulatory Gap: Fintechs such as Synapse, though vital to digital banking services, fall outside the Fed’s direct regulatory purview, illustrating a blind spot in U.S. financial oversight that lawmakers now vow to close.
Market Repercussions: The fallout froze funds for tens of thousands of end-users, eroding trust in BaaS partnerships and igniting calls for more rigorous standards and clearer consumer disclosures.

Op-Ed Insight

The Synapse debacle underscores a harsh truth: innovators move faster than regulators, but the price of that speed can be catastrophic when intermediaries obscure the true custodian of consumer funds. As BaaS partnerships proliferate, the Federal Reserve—and by extension, other global regulators—must balance fostering innovation with enforcing accountability. Failure to do so risks a repeat of this crisis, undermining both consumer confidence and the broader fintech ecosystem.

2. AI Rearchitecture: Simon Wu on Vertical-First, AI-Native Fintech

In a feature for Crunchbase News, Simon Wu of Cathay Innovation argues that fintech’s next chapter is defined not by broad digital banking clones, but by vertical-first, AI-native startups that own their infrastructure and data loops .

Source: Crunchbase News.

Highlights

Infrastructure Ownership: Startups that build or deeply integrate their own core banking stack (e.g., Chime) gain superior control over data, compliance, and AI model fine-tuning—key levers for personalized services and fraud mitigation.
AI at the Core: From AI-powered underwriting (Nubank) to chatbot-driven support (Klarna), fintechs are leveraging machine learning to enhance decisioning and user engagement while reducing operational costs.
Verticalization: Rather than competing head-on with incumbents, emerging players focus on niches—such as embedded payments in real-estate workflows or AI-driven insurance quoting—to deliver “fintech operating systems” that embed seamlessly into customer processes.

Op-Ed Insight

Wu’s thesis is a wake-up call: the era of generic, horizontal fintech is fading. Winners will be those who harness AI within proprietary stacks to solve real pain points—delivering not just products, but embedded workflows that feel indispensable. Investors should pivot from broad bets on “fintech 1.0” to backing startups that exemplify this AI-infra synergy.

3. Fintech Maximalism: Mark Goldberg’s Vision for Compounding Growth

On TechCrunch’s Equity podcast, veteran investor Mark Goldberg—fresh off launching his $350 million venture fund Chemistry—declares we’ve entered a period of fintech maximalism, where companies cultivated through 2021–24 emerge as multi-year compounders.

Source: TechCrunch.

Core Themes

“Tech-Fin” Over “Fintech”: Goldberg emphasizes a shift toward companies that blend deep technology capabilities with financial services—transcending the original fintech playbook.
Portfolio Construction: Chemistry’s boutique strategy reflects a broader VC trend: seasoned partners spinning out to pursue focused, high-conviction rounds, betting on businesses that not only survive downturns but accelerate thereafter.
2025 Watchlist: Goldberg cites AI’s role in fraud detection, a resurgence in M&A and secondaries, and a potential wave of fintech IPOs—though he cautions that public markets may remain tough for fintech exits.

Op-Ed Insight

Fintech maximalism is more than jargon—it’s a mindset shift: only those firms with durable moats, integrated technology and financial acumen will thrive long-term. As Chemistry and peer funds deploy new capital, incumbents face intensified competition from lean, well-capitalized startups—and legacy players must adapt or risk obsolescence.

4. Truth.Fi’s Next Act: TMTG Partners on America-First ETF Launch

In a surprising move into asset management, Trump Media & Technology Group (TMTG) has inked a binding agreement with Crypto.com and Yorkville America Digital to launch America-First ETFs under the Truth.Fi brand later this year.

Source: Nasdaq.

Details

Product Suite: The ETFs will blend digital assets and “Made in America” securities, spanning sectors like energy and industrials—distributed globally via Crypto.com’s broker-dealer, Foris Capital US LLC.
Strategic Rationale: TMTG’s CEO Devin Nunes frames the launch as diversifying into financial services, leveraging the Truth.Fi fintech arm to attract retail and institutional investors aligned with patriotic investment themes.
Regulatory & Advisory: Davis Polk & Wardwell LLP advises on product development, underscoring the complexity of marrying crypto assets and traditional securities within regulated ETF wrappers.

Op-Ed Insight

Truth.Fi’s ETF play signals a broader convergence of social/media platforms and fintech—where user communities morph into captive audiences for financial products. While ideological branding (“America-First”) may resonate with a specific demographic, success hinges on genuine fund performance and regulatory compliance. For the wider fintech sector, TMTG’s pivot illustrates the allure—and peril—of media-backed finance ventures.

5. Financial Inclusion Frontlines: Daira at Money20/20 Asia

At Money20/20 Asia in Bangkok, Sheikh Omer Nasim, CEO of Pakistan-focused fintech Daira, delivered a keynote on leveraging technology to bridge the financial literacy gap in emerging markets.

Source:Taiwan News.

Highlights

Market Context: With smartphone penetration at 51% and over 124 million mobile Internet users, Pakistan saw a 35% jump in digital payments in 2024, according to the State Bank of Pakistan.
Product Innovation: Daira’s mobile app (launched October 2024) offers micro-loans, AI-driven personalized tips and a streamlined interface tailored to first-time borrowers—especially women under the SECP’s Women Equality in Finance Policy Framework.
Regulatory Milestone: Securing a Non-Banking Financial Company license in 2024 cements Daira’s compliance credentials, enabling expansion into SME marketplaces and deeper inclusion efforts.

Op-Ed Insight

Daira’s model exemplifies how fintech can catalyze financial empowerment in under-banked regions. By coupling AI-powered education with credit access, platforms like Daira transform users into informed participants of the digital economy. Yet success demands ongoing collaboration with local regulators, continuous user-centric design, and robust risk management to scale sustainably.

Conclusion: Connecting the Dots

Today’s headlines paint a vivid tableau of fintech’s dynamic tensions: regulators racing to catch up with innovative BaaS models; AI-powered startups redefining infrastructure; boutique VC funds doubling down on tech-fin compounders; non-traditional players launching ETFs; and social impact fintech rising in emerging markets.

What to Watch Tomorrow

Will the Federal Reserve respond to Senatorial pressure with new BaaS oversight guidelines?
Which AI-infra-first fintech will announce a major funding round or partnership next?
Can Truth.Fi’s ETFs carve out market share in an increasingly crowded ETF landscape?
Which emerging market fintech will replicate Daira’s inclusion success in another under-banked region?

Stay tuned to Fintech Pulse for incisive analysis and op-ed commentary on the stories that move markets—and shape the future of finance.

The post Fintech Pulse: Your Daily Industry Brief – April 23, 2025 – Synapse, Cathay Innovation, Chemistry, Truth.Fi ETFs, Daira appeared first on News, Events, Advertising Options.