Fintech | FinTelegram News

Category: Fintech

February 25, 2021

Crypto payment company Pradexx offline; connection to Russian Nymeria established

The licensed Estonian crypto payment processor operates the two brands Pradexx and NextPayWay. While the Pradexx website (www.pradexx.com) has been down for a few days due to security issues, NextPayWay (www.nextpayway.com) is online. A licensed high-risk payment processor with security issues? Interesting, isn't it? Then we discovered the also FIU-licensed crypto payment processor Nymeria OÜ of the Russian Aleksei Bratashov, which at least until recently was connected to the Pradexx network.

February 22, 2021

Regulator warns against BridgerPay scam client The Forex Premium

Bridger AI Ltd is an unregulated PayTech and, therefore, apparently moves feels free to accept scam merchants without too much concern. Just recently, Cohen hired Nati Harpaz, a big name, as an additional Executive Director. One would expect legitimacy there. However, BridgerPay has come up more frequently as a payment facilitator of scams regulators warn against. So it facilitates The Forex Premium (www.4xpremium.com) operated by Premium Finance Solutions Ltd.

February 10, 2021

iPayTotal cooperates with FCA-regulated Global Payments to facilitate scams

In our research on the Financial Resident broker scam, we identified iPayTotal as one of the payment facilitators. However, when processing deposits via iPayTotal, visitors are redirected to Global Payments (www.globalpay.com), a payment processor licensed by the UK FCA. iPayTotal is one of the most notorious high-payment processors in the scammer scene. Many scammers complain that they were ripped off by iPayTotal and that funds were not transferred to them anymore. In this respect, the cooperation with a regulated FCA entity is somewhat surprising.

January 29, 2021

Brazil FinTech Nubank received fresh $400M at record-breaking $25B valuation

Forget the European FinTechs like Revolut, N26, Monzo, or Starling Bank. Brazil's Nuban beats them all. The Brazilian superstar Nuban announced that it had raised a $400M, putting their total funding to $1.2B. The company received an astonishing $25 billion valuation (up from $10 billion in 2019). They have an impressive track record and managed to acquire 34 million users' customer base.

January 26, 2021

Estonian-Israeli Pradexx hires former Leverate director as CFO

Pradexx OÜ, licensed in Estonia as a high-risk payment processor, recently welcomed a new CFO – Matan Roee, from Tel Aviv, who was previously the..

January 25, 2021

TransferWise appoints Goldman Sachs and Morgan Stanley for blockbuster IPO in London

TransferWise prepared for a blockbuster IPO and appointed the two Wall Street giants Goldman Sachs and Morgan Stanley as joint coordinators, Sky News reported last week. The surprising thing here is the decision in favor of a listing in London and against New York. This is certainly an important milestone for London to remain Europe's most important financial center after Brexit. The valuation for the IPO is expected to exceed $5 billion. And hey, they are profitable!

January 25, 2021

The iPayTotal Case – Insolvency, fact-based allegations, and alleged defamation

Yes, the UK Courts ordered the compulsory wind-up of iPayTotal Ltd. A fact. Nevertheless, it is always somewhat challenging to expose cybercrime and scam-facilitating high-risk..

January 22, 2021

Seriously? UK FinTech Unicorn Monzo on the course to collapse!

Some FinTech could face collapse, analysts argue. According to GlobalData analyst Katherine Long, UK FinTech unicorn Monzo could be the second major collapse in the FinTech universe after the collapse of Australia's Xinja. Monzo is becoming an “increasingly expensive charitable cause for the UK market” and could be the first big UK challenger bank to collapse unless it changes its approach towards a more sustainable future.

January 20, 2021

Check this out – German PPRO Group gets $180M at $1B+ valuation

Germany has a new FinTech. FCA-regulated PPRO Financial is controlled by the German PPRO Holding GmbH and has affiliated companies in Europe, Asia, North and South America. Today, the company announced that it had received a total of $180 million in fresh money from investors based on a valuation of more than $1 billion. With this, PPRO joins the club of FinTech unicorns. However, in the past, PPRO has also attracted attention for supporting broker scams with its payment services.

January 10, 2021

Scam-facilitating Crypto Payment Processor Zichain and its network

Zichain OÜ is a crypto payment processor and exchange licensed by the Estonian FIU. Besides, the company is also licensed as a general financial services provider and is doing business as Zichain, Cryptoeye, and Rashbe. Currently, one can only conduct crypto transactions through Zachain. Rashbe is associated with scams like Swiss500 or ApcoFX. In turn, Swiss500 is associated with Michael Zetser, who, together with Ilan Frankos, is behind the scam-facilitating high-risk payment processor GumBallPay.

January 7, 2021

High-risk payment processor PXP Financial provides payment services to BetMGM in the U.S.

High-risk payment processor PXP Financial Limited is systematically developing its partner network to enter the attractive U.S. market. In December 2020, the company announced a partnership with MoneyNetInt Group to expand cross-border payments. Now it has partnered with U.S. gaming operator BetMGM, a joint venture between MGM Resorts and Entain. PXP Financial used to be part of the British Entain group until 2017 and is currently a Singapore-based Senjō Group member company.

December 28, 2020

Initial Coverage – Israeli FinTech unicorn eToro allegedly prepares for $5 Billion IPO in 2021

The global COVID-19 crisis is unlikely to prevent 2021 from being a promising year for stock markets and FinTechs. UK FinTech unicorn TransferWise is reportedly currently evaluating a billion-dollar blockbuster IPO for 2021 led by Goldman Sachs. The latter is also said to be evaluating an IPO of the Israeli FinTech unicorn eToro on Nasdaq at a $5 billion valuation, Israeli Calcalist reports. Allegedly, it has been valued at about $2.5 billion.