Mastercard Making Sure You Never Lose Your Wallet Again

What we’ll cover today:

💸 Mastercard Making Sure You Never Lose Your Wallet Again.

🚀 Fintechs Like Revolut & Robinhood Key to DeFi Growth: Morpho Founder.

🤖 Failed Fintech Synapse Founder Raises $11M for Robotics Startup

🔗 The Event Roundup

What’s scarier than losing your wallet?

Mastercard is making a bold move to keep your data safe.

They are buying threat intelligence firm “Recorded Future” for $2.65 billion.

Why this matters:

• Cybercrime costs could hit $9.2 trillion by 2024.

• Recorded Future uses AI to detect threats in real time.

• They’ve helped governments and big companies stay safe.

What this means for you:

• Mastercard’s security and fraud protection will get stronger.

• Your data and merchants will be better protected.

The two companies already teamed up on a tool to spot hacked payment cards.

Here’s the whole article

1. Fintechs Like Revolut & Robinhood Key to DeFi Growth: Morpho Founder.

“We essentially need to build financial infrastructure for the most techy players in finance,” Paul Frambot, Morpho's CEO and founder of lending protocol.

Leading fintechs Revolut, Robinhood, and eToro have each embraced crypto as a core piece of their offerings in the banking or brokering market.

Frambot is hopeful they and others can burnish DeFi’s attraction to mainstream users.

Here’s the whole article

2. Failed Fintech Synapse Founder Raises $11M for Robotics Startup.

Sankaet Pathak, founder of the failed fintech Synapse, has secured $11M in pre-seed funding for his new robotics startup, Foundation. 

The company aims to develop advanced humanoid robots for complex environments, addressing labour shortages. 

Meanwhile, millions of customer dollars from Synapse remain unaccounted for after its Chapter 11 filing earlier this year.

Here’s the whole article

1. US FinTech companies completed 5 of the top 10 deals globally in H1.

   In H1 2024, global FinTech saw 2,754 transactions, a 50% drop from H1 2023. Funding fell 46% to $53bn compared to $98bn in H1 2023.

2. Fintech firm Veefin acquires a 26% stake in EpikIndifi.

   EpikIndifi’s valuation reached $15.6M after this deal. This is Veefin's third acquisition, following earlier this year's acquisitions of Nityo Infotech and Regime Tax Solutions (which runs TaxGenie and PayInvoice).
   

3. US regulators extend the comment period for Bank-FinTech partnerships.

   This extension grants stakeholders additional time to evaluate and formulate responses concerning the collaborative arrangements between banks and FinTech companies.