Friday Finance (founded as Airbank) wanted to digitize the financial processes of small and medium-sized enterprises with a multi-banking solution. Despite good funding and major expansion plans, the fintech has now surprisingly ended its business - and is selling parts of the company to competitor Pliant, FinanceFWD reports. The transaction is not said to be a "fire sale" and was not driven by Friday Finance's financial difficulties. This may or may not be the case.
Pliant, a German corporate credit card startup with Japanese funding, has successfully obtained an e-money license in Finland, as reported by PayRate42. Co-founded by Malte Rau and Fabian Terner, this development will grant Pliant greater autonomy from its partners and pave the way for its expansion into 25 countries. The fintech recently €26 million funding round from Japanese venture firm SBI and others.