The Month in FinTech: April Edition

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Richard Davies, CEO of Allica Bank with the bank's iconic orange hat. Credit: Allica Bank
The last month’s top stories include Allica’s funding round, regulatory approval for Revolut and Wise, Mastercard’s BVNK acquisition and Santander’s AI

Allica Bank Hits US$1.2bn Valuation After Latest Fundraiser

Allica Bank has secured US$155m in Series D funding, further establishing it as the primary digital challenger for the UK’s established small and medium business (SMB) sector.

The Series D round includes investment from Ventura Capital, GLG, Sona AM and existing backers.

Why has Revolut Applied for a US Banking Licence?

Revolut applies for a US bank licence. Credit: Revolut

Revolut has officially submitted its application to the US Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation for a national bank charter.

Santander: Would You Let AI Buy You Chocolate and Books?

Santander, Brazil. Credit: caio acquesta/Getty

Banco Santander and Visa announce the successful purchase of books and chocolate using agentic AI in a banking framework.

Stablecoin Strategy: Mastercard to Acquire BVNK for US$1.8bn

We expect that most financial institutions and fintechs will in time provide digital currency services, be it with stablecoins or tokenized deposits.

Jorn Lambert, Chief Product Officer for Mastercard
Jorn Lambert, Chief Product Officer for Mastercard

A Wise Decision: Bank of Thailand Grants Banking Licence

The World Bank reports that US$9.46bn flowed into Thailand from Thai citizens and residents overseas in 2024.