THE MONTH THAT WAS
HIGH-PROFILE INVESTMENT HITS THE HEADLINES
There ’ s a nine-figure investment and backing from some high-profile players in our roundup of the month ’ s biggest headlines from the fintech industry
BANKS FOCUSING LESS ON METAVERSE , RESEARCH SAYS ( UK )
FINTECH RAMP RAISES US $ 300M IN FUNDING ( NEW YORK , US )
US spend management fintech Ramp has raised US $ 300m at a valuation of almost US $ 6bn . The Series D round was co-led by Thrive Capital and Sands Capital , and comes after the company increased its transaction volume by a factor of six since its last funding round in December 2021 .
The number of banks investing in the metaverse has dropped by nearly a third in the last year , according to research from Hexaware Mobiquity . The findings suggest that banks are shifting their focus away from the metaverse and towards other technologies like open banking and the cloud .
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