The Weekly Wrap: all you need to know by Friday COB | Sept 2nd

By Gaia Lamperti

The Weekly Wrap is published every Friday and recaps the week’s main stories and deals, as well as upcoming events and announcements. For Prime subscribers only.

The Big Story

BNPL giant Klarna saw its net losses nearly quadruple in the first half of 2022, compared to the same period last year, rising to £81 million up from just under £7.5 million in 2020.

The factors behind the loss include higher credit defaults, increased employee costs and investment in market expansion across the US, New Zealand, France, Spain and even more recently Poland.

Deals of the Week

• Capital on Tap announces a £200 million funding facility to support small businesses in the UK
• Duplo secures $4.3 million seed funding to transform business-to-business payments in Nigeria
• International payments platform iPiD secures $3.3 million in seed funding
• Grey raises $2 million to simplify cross border payments across Africa
• CellPoint Digital teams up with Cybersource to help merchants fight fraud
• Thunes partners with Alipay+ to connect European merchants with Asian consumers

Be on the lookout for

National Australia Bank has committed to act as a trusted identity provider in the creation of ConnectID, a new service which will enable Australians to more easily validate their identity across e-commerce, utilities, banking and other services. The service is set for commercial trials later this year, with a full-scale national rollout scheduled for 2023.

Events & Appointments

• IBSi is organising a webinar in collaboration with IDnow, a European identity management solution provider, on how Identity Management is helping eKYC become a reality for FinTechs and financial institutions alike. Join us on Sep 15th!