July 2, 2021

144: Money Talks #36: Visa Goes Tink | Binance’s Troubles | Revolut’s Results and Rolling into a Rundle

144: Money Talks #36: Visa Goes Tink | Binance’s Troubles | Revolut’s Results and Rolling into a Rundle

In this Money Talks segment, Eoin Fitzgerald and Pete Townsend start with some insights on Visa’s deal for Tink and how the European context of Tink differs quite a bit from the US context of Visa’s dead deal with Plaid, then we look at Binance’s recent troubles before rounding out with Revolut’s recent reporting of their 2020 results and the potential to roll Revolut into a Rundle - the recurring revenue bundle.

MoneyNeverSleeps is sponsored by PAT Fintech, the training partner that demystifies fintech and digital finance for financial services professionals.


Visa-Tink Deal

Pete on the difference between Visa-Plaid and Visa-Tink: “It's a different context in that European landscape already has the regulation in place to enable someone like Tink to move a lot more freely than Plaid.”

“Could Visa have nailed the big American market just with Plaid? Absolutely. Can Visa nail Europe with Tink? Yes, but, I’m not sure if the same regulatory barriers that went up for visa to buy plaid in the US will also stop Visa from acquiring Tink.”

Eoin’s counterpoint: “Despite Tink being European focused, they're still heavily focused on one or two markets. There isn't one company that you can acquire that’s going to give you a reach into all of Europe. I think even if Visa get this one through, maybe the next one will be stopped because the EU are so strong on antitrust and monopolies.”

Visa to buy Swedish fintech Tink for €1.8bn (Sifted, 24-Jun-21)

Binance’s Troubles

Eoin reflects on the landslide of negative press on Binance: “Given the focus on the crypto space and we've seen it before with lending companies, just err on the side of caution.  You just have to open a newspaper to see regulators’ focus on crypto, so you’re probably better just engaging with them in the relevant markets.”

Binance: Watchdog clamps down on cryptocurrency exchange (BBC, 28-Jun-21)

Silvergate Bank to Discontinue Binance USD Deposits, Withdrawals (Yahoo Finance, 10-Jun-21)

Binance’s Chief Finance Exec Has Abruptly Left the Company (Coindesk, 9-Jun-21)

Binance Pulls Out of Ontario Following Actions Against Other Crypto Exchanges (Coindesk, 27-Jun-21)

Binance customers locked out of sterling withdrawals and deposits (FT via Twitter, 29-Jun-21)

Revolut’s 2020 Financial Results

 Pete sums it up: “With Revolut, we’re admiring this wonderful product innovation and new things happening in financial freedom, and that’s costing them £425mn to make £222mn. Now this is the pre-public company model, that you spend a heck of a lot more money than you make in revenue in order to scale and grow. But it’s not just a drop in the bucket.”

Eoin’s thoughts on where Revolut might go from here: “To me, Revolut are probably best positioned to be that fintech version of a Rundle - the recurring revenue bundle.”

Revolut’s 2020 Results (Lex Sokolin, The Fintech Blueprint, 28-Jun-21)


Dan Runcie in the most recent Trapital ‘business of hip-hop’ newsletter quoting a16z’s Chris Dixon’s 2010 blogpost that said “the next big thing always starts out being dismissed as a ‘toy’”

Eoin’s reference to comedian Bo Burnham’s ‘Kanye Rant’ on auto-tune.


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Pete TownsendProfile Photo

Pete Townsend


Web3 & fintech investor, MD @Techstars Web3, founder of Norio Ventures, mentor, non-executive director, podcaster and bad guitar player.

Eoin FitzgeraldProfile Photo

Eoin Fitzgerald


Fintech investor, podcaster, wannabe VC