In this Money Talks segment, Pete and Eoin riff on the shutdown of the RBS challenger bank brand 'Bo', Revolut's M&A ambitions, what N26's latest fundraising means in the great universe of challenger banks.... and their latest reads!
In this episode, Eoin Fitzgerald and Pete Townsend dig into three pieces of content from this week that are relevant to the cosmic cloud of startups and enterprise in which they live, with a focus on the latest news from challenger bank brands. The stories covered in this week's episode include:
- RBS axes digital bank Bó (TechCrunch, 01-May-20) - Bó, the digital bank developed by RBS-owned Natwest, is to shutter, just 6 months after launching publicly and gathering 11,000 customers.
- Revolut on the hunt for acquisitions (FT, 06-May-20) - Revolut is looking to use some of the proceeds of its recent $500m fundraising to buy rival technology companies that have been hit by the coronavirus pandemic, with an unexpected focus on travel aggregators.
- N26 raises another $100mn at $3.5bn valuation (Finextra, 06-May-20) - N26 recently ditched their UK strategy but expanded to the US with some initial success - but what's next for them in competing with Revolut, Monzo, Starling and Chime? Besides the obvious benefit of Revolut and FX, why would you chose one over the other?
- Wirecard's troubles - as covered by Chris Skinner on 08-May-20.
- Build, buy or transform a bank - also from Chris Skinner on 07-May-20
- Dollars and Sense: How We Misthink Money and How to Spend Smarter - Dan Ariely
- Talking to My Daughter About the Economy - Yannis Varoufakis
- Moth Smoke and The Reluctant Fundamentalist - both by Mohsin Hamid
What is MoneyNeverSleeps?
A weekly podcast that gets inside the mind of the entrepreneur and at what makes them do what they do, and explores the startup ecosystems in Ireland, UK, Europe and beyond.