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Hey Fintech Explorers—Welcome back to Money Explored, your essential Sunday briefing on the most important fintech plays around the globe!

This week, a high-stakes card deal nears its final round, a bold fintech eyes a U.S. takeover, and a payments giant sets its sights on Wall Street. Serious power moves.

Here’s what we’re diving into:

• JPMorgan takes the lead in Apple Card negotiations 🔥

• Revolut considers buying a U.S. bank 🇺🇸

• Wise makes a Wall Street move to boost valuation 🇺🇸

Plus: A slick new sponsor joins the fast lane, a top license unlocks fintech upgrades in the UK, and a group payments twist quietly launches.

It’s all happening—and that’s just the start…

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Let’s dive in!

🌎 3 Major Stories

Dive into this week’s top Fintech developments.

JPMorgan's Apple Card Bid Heats Up 🔥

The Big Story 📰: Apple's $AAPL ( ▼ 0.51% ) search for a new home for its Apple Card program is reportedly narrowing down, with JPMorgan Chase $JPM ( ▼ 1.25% ) emerging as the frontrunner to take over the portfolio. Other top competitors, such as American Express, Synchrony Financial, and Visa, have also shown interest, with Visa making an assertive $100 million bid to handle payment processing. The Apple Card, previously issued by Goldman Sachs, includes approximately $21 billion in receivables and has attracted affluent customers, although it also has a challenging mix of subprime borrowers. A final selection would wrap up a lengthy process for Apple, which has been seeking to alter its card issuing strategy for over a year.

Key Takeaway ⚡️: A potential deal with JPMorgan would not only solidify its dominance in the credit card sector but also reshape the competitive landscape as other major players are pushed out. For fintech enthusiasts and stakeholders, this development emphasizes the dynamic nature of card issuance and the effects of borrower profiles on profitability. With JPMorgan likely to enhance services for customers, industry watchers should be ready for shifts in consumer lending and premium card offerings. As credit card issuers refine their products amid this competition, innovation and customer engagement strategies will be crucial for retaining market share.

Revolut Eyes U.S. Bank Buy for Licensing Gain 🇺🇸

The Big Story 📰: Revolut is contemplating its entry into the highly-regulated U.S. banking sector through an acquisition of a U.S.-based bank. This strategic move aims to secure a banking license that would allow Revolut to offer enhanced services in the American market. The fintech company, known for its rapid growth in Europe, sees this as a critical step to expand its influence and operations globally, particularly in a market that demands strong regulatory compliance and local banking partnerships. Such an acquisition would not only bolster Revolut's service offerings but also mark its serious commitment to establishing itself within the competitive U.S. landscape.

Key Takeaway ⚡️: Revolut's potential acquisition highlights a significant trend of fintech firms seeking direct banking licenses to navigate regulatory complexities in the U.S. This move would empower Revolut to deliver a wider range of financial products tailored for American consumers while ensuring compliance with local laws. For our audience, this shift presents both opportunities and challenges. Other fintech companies may need to reassess their strategies, either by pursuing similar paths or forging partnerships to remain competitive. It signals a new chapter in U.S. fintech, where established players may be forced to innovate or adapt to a rapidly evolving landscape as new entrants aim for a slice of the pie.

Wise Shifts HQ to NY for Bigger Investor Boost 🇺🇸

The Big Story 📰: Wise, the prominent UK online payments company, has received a nod from its shareholders to relocate its primary stock market listing to the United States. This decision is a strategic move to attract a larger investor base and enhance its market value, currently around £11 billion. The approval came amid some controversy, as the vote also extended the dual-class share structure, which confers greater voting rights to certain shareholders. Co-founder Kristo Käärmann stands to gain significant influence, raising concerns from fellow co-founder Taavet Hinrikus about the impact of entrenched management control. Despite these apprehensions, Wise aims to harness the vast US market for further expansion.

Key Takeaway ⚡️: The relocation of Wise's listing to the US marks a significant shift in the fintech landscape, emphasizing the company's ambition to tap into deeper capital markets and boost its growth potential. For investors and industry watchers, this move underscores the ongoing adaptation of fintech firms in response to market dynamics. The dual-class structure's retention may raise eyebrows regarding governance practices, prompting stakeholders to consider the implications for company accountability and control. As Wise endeavors to create "money without borders," the fintech sector should prepare for increased competition and innovative approaches to capital access in the rapidly evolving financial ecosystem.

🔍 What Else We’re Watching

Keep an eye on these evolving Fintech Narratives.

• Revving Up Fintech: Revolut Joins F1! 🏎️: Revolut is shifting gears by signing on as the title partner for the new Audi Formula 1 team, gearing up for competition in 2026. This long-term partnership involves a significant financial commitment from Revolut and aligns with the team's ambition to innovate in the motorsport world. CEO Nik Storonsky emphasized the partnership's potential to create unforgettable experiences for fans while utilizing Revolut's digital banking to enhance operational efficiency. As F1 continues to expand, Revolut is firmly in the driver's seat.

• Klarna Gains EMI Licence in the UK 🇬🇧: Klarna Financial Services UK (KFSUK) has snagged an electronic money institution (EMI) license from the UK's Financial Conduct Authority (FCA). This win allows them to roll out Klarna balance and Klarna cashback later this year, empowering consumers to manage funds within their Klarna account. Users can deposit money, make transactions, and receive refunds seamlessly. Additionally, the Klarna cashback initiative will reward customers with a percentage back on their purchases. Klarna’s Abby Vickers says this move transforms spends into smarter financial management—one rewarding transaction at a time!

• Cash App Launches Group Pools! 💵: Cash App has unveiled a new feature called "pools," enabling users to gather money for shared expenses like dinners, trips, and gifts. Initially available to select users, this functionality will roll out more broadly soon. Users can create a pool with a target amount, inviting friends directly via their $cashtag or sending a link for non-users to contribute through Apple Pay or Google Pay. This capability is crucial for Cash App, especially as it looks to boost engagement after underwhelming usage stats and compete with Venmo and PayPal's similar offerings.

💸 Major Money Moves

Tracking big market shifts in Fintech this week.

• OpenAI Bags $8.3B, Hits $300B Valuation 🚀: In a remarkable funding feat, OpenAI has raised $8.3 billion, catapulting its valuation to an estimated $300 billion, months ahead of its original target. This oversubscribed investment round drew in heavyweights like Blackstone, TPG, and T. Rowe Price, with Dragoneer Investment Group leading the pack with a hefty $2.8 billion. The company’s annual recurring revenue has leaped from $10 billion to $13 billion recently, and it's projected to cross the $20 billion mark soon. As usage of ChatGPT surges from 3 million to 5 million businesses, OpenAI's momentum is undeniable.

• Gradient Labs Closes $13M Round in a Week 💼: Gradient Labs, a hot AI startup focused on customer operations for fintech, just wrapped up a $13 million Series A funding round in record time—one week, to be exact! Led by Redpoint Ventures, with support from notable investors like LocalGlobe and Puzzle Ventures, the rapid close was thanks to existing relationships and a strong, prepared pitch deck. Co-founders, all ex-Monzo employees, emphasized clarity in their message, showcasing how their solution is already delivering impressive results. Their advice for founders? Build investor relationships early and be brutally honest about your product fundamentals.

• Navi Technologies Secures ₹170 Cr Boost! 🚀: Sachin Bansal’s Navi Technologies has successfully raised ₹170 crores via a recent debt funding round led by PhillipCapital. The Bengaluru-based fintech firm allotted 1,700 non-convertible debentures (NCDs) at ₹10 lakh each, gathering significant investments from major players like NDX Financial Services and Ambit Finvest. This capital injection will help further develop Navi's extensive financial services, including home loans, personal loans, and UPI payments. With plans to raise additional funds and a recent revenue uptick, Navi’s future looks promising despite previous RBI concerns.

Thanks for reading and have a relaxing Sunday,

Derek,
Editor, Money Explored.