Venture capital

U.K. fintech Rapyd, backed by Stripe, has raised $300 million in a Series D round to fuel its growth through acquisitions in payment processing, card issuing and disbursements.

Walmart's fintech venture with Ribbit Capital gives it a way to influence more technological developments in the retail industry.

E-commerce and digital finance are expanding quickly due to the pandemic, economic downturn and plans for recovery — providing opportunities for VCs that back technology that powers faster, more digital payments.

Mexican payments startup Klar has raised $15 million in a Series A round in an effort to challenge traditional banks by expanding access to debit cards and credit lines.

Atlanta-based fintech Greenlight has raised $215 million in a Series C round and announced that it has achieved a valuation of $1.2 billion, giving it unicorn status.

Petal, the credit card aimed at millennials and others with limited credit histories, has raised $55 million in a Series C as main street banks pull back on credit during the COVID-19 crisis.

Jo Jagadish, who joined TD Bank in April as head of commercial products and payments innovation, spent her childhood moving from country to country, so she's used to a world without borders — the kind of world emerging from the capabilities of fintech and demands of the pandemic.

The company said it will use the new funding to accelerate its growth.

PayPal is improving its ability to reach innovators, adding a key executive in its recent hire of former Wells Fargo senior vice president and fintech veteran Peggy Mangot to be operating partner at PayPal Ventures, PayPal’s VC team.

Fintechs are facing unique challenges in the pandemic. There might be a resurgence in funding on the horizon, but startups are looking to see what they can do now to weather the storm.