Jumpstart Raises R$2.8M, using AI for Immigrant Credit and Guidance
Weekly news up to Monday, 7th of April 2025
👀 NEWS HIGHLIGHT
A rumour appeared that Revolut has started recruiting for senior management roles in Morocco.
This could be a signal that they plan to enter this new market.
Revolut's Moroccan customer waiting list has been active since at least the year 2021.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🔦 DIGITAL BANKING HIGHLIGHTS
⭐️ Revolut exceeds 1.5 million subscribers in Greece.
⭐️ Latin America’s biggest bank considers in-house real stablecoin.
⭐️ Brex sees procurement push onto its card.
⭐️ Jumpstart raises R$2.8M, leveraging AI for immigrant credit and advice.
🌎 REGIONAL HIGHLIGHTS
UK 🇬🇧
Wise shares up after reporting growth for the financial year. The company reported 22% growth in cross-border volumes and a 16% surge in underlying income to £1.36bn. Also, it announced it would expand its programme of share purchases into its employee benefit trust by acquiring historical stock-based compensation grants.
EUROPE 🇪🇺
Revolut is gearing up for the rollout of Revolut ATMs, which will soon be launched in Spain as a pilot market. The first devices should be arriving in Barcelona later this week. The company has surpassed one million private customers in Switzerland, marking a significant milestone. The firm, which opened a Swiss branch last year, achieved this growth organically through referrals rather than large advertising campaigns. Revolut has also said it wants to become the “𝙬𝙤𝙧𝙡𝙙’𝙨 𝙡𝙚𝙖𝙙𝙞𝙣𝙜 𝙢𝙖𝙧𝙠𝙚𝙩 𝙢𝙖𝙠𝙚𝙧,” as the FinTech pushes into territory that was once the preserve of investment banks.
myTU introduces Google Pay for secure contactless payments. This new feature enables individuals and businesses to add their debit cards to Google Wallet, making payments more convenient and secure. myTU’s customers can now pay in stores, apps, or online with just their smartphones or other Android devices.
Lunar partners with SAS - Scandinavian Airlines, to give the SAS EuroBonus Lunar card a little upgrade. The SAS x Lunar card is a co-branded debit card that allows users to turn their everyday spending into EuroBonus points. Given the high value users place on it, the benefits are now being further enhanced.
USA 🇺🇸
BNY Mellon launches Blockchain Accounting Tool, BlackRock as First Client. The tool, officially named Digital Asset Data Insights, allows the bank to publish a fund’s net asset value (NAV) directly onto a blockchain, eliminating reliance on third-party accounting services.
CANADA 🇨🇦
Santander wins Canadian Banking License amid push into Americas. This allows its subsidiary Santander Consumer Bank, to operate in the country. The bank has been expanding across the Americas, with a focus on the region, and has already established a presence in Canada through a car-financing company.
LATAM
Nubank has started offering a new type of private payroll-deducted loan "Crédito do Trabalhador" (Worker's Credit), aimed at providing workers in Brazil with easier access to credit. The loan can be guaranteed by a worker’s FGTS balance or severance pay, allowing financial institutions to offer lower interest rates.
AFRICA
Y Combinator neobank Djamo raises $17M with 1M users across Francophone Africa to expand its product suite for these retail customers and the thousands of small businesses it has onboarded in the last two years. Keep reading
JP Morgan sets to move into merchant banking in Nigeria. This move promises to bring world-class expertise and innovative financial solutions to Nigeria’s burgeoning corporate and institutional clients. Keep reading