Blackhawk Network inks agreement to acquire Rewards-as-a-Service platform Tango Card
The acquisition, which will combine both parties’ rewards platforms, is expected to close later this year.
Business-to-Business/B2B
Kriya announces new £50m funding facility from Viola Group
Kriya aims to use the facility to enhance its offerings for B2B retailers.
UK fintech Paysme winds down operations
Founder Derek Stewart says Paysme is “not in a sufficiently strong financial position to grow to the next milestone”.
Griffin begins hunt for new COO with Maria Campbell set to depart
Campbell is due to depart the company this quarter to take “some personal time out”.
Mondu gears up for European expansion with €30m debt financing boost
Mondu’s credit facility with VVRB now stands at €50 million following an earlier deal in 2022.
BillingPlatform lands $90m growth equity investment from FTV Capital
BillingPlatform previously raised $10 million in a Series B round back in 2019.
US fintech Brex to axe 20% of workforce
The cuts are part of an organisational restructure, with founder Pedro Franceschi saying the firm grew too quickly.
Finnish fintech Aibidia names Matthias Grabellus as new chief product officer
Aibidia says Grabellus will be tasked with globalising its product suite for cross-border business management.
DailyPay secures $175m in debt and equity to tap new markets
The $75 million equity funding valued the NYC-headquartered fintech at $1.75 billion.
LatAm fintech Pomelo secures $40m Series B led by Kaszek
The fintech has now raised $103 million to date, including a $35 million Series A in October 2021.
Business spend management platform Payhawk lands UK EMI licence
The fintech unicorn previously gained an EMI licence from the central bank of Lithuania in July.
Nepal’s Kumari Bank taps Compass Plus Technologies for payments processing
The pair states that it has migrated over 500,000 cards, 1,200 POS terminals and almost 300 ATMs.
The ai Corporation names CCO Piers Horak as new CEO
Horak succeeds Dr Mark Goldspink in the role after over 10 years with the UK-based paytech.
Paymob lands PSP licence from Oman’s central bank
Paymob now claims to be the first international fintech company to be fully licenced in Oman.
Subscription billing fintech Recurly names Joe Rohrlich as CEO
Rohrlich previously served as CEO of Top Hat, a US-based higher education engagement platform.
JP Morgan Chase-owned WePay reportedly offboards a number of business clients
JP Morgan Chase bought WePay back in 2017 in a $400 million deal in a push to compete with Stripe.
US-based Citizens State Bank taps Revio to fuel customer growth
The bank will adopt the Revio platform to tap customer expansion opportunities.
European fintech funding round-up: Unbox, Rivero, ProjectPay & Ryft
Our weekly fintech round-up for you to get the latest funding news from across Europe.
Danske Bank looks to improve digital customer experience with Backbase
Backbase’s tech will be implemented across the bank’s digital channels “progressively” over the next few years.
WealthCo Asset Management taps Duco to automate manual data tasks
WealthCo says the Duco platform has helped it build “volume-agnostic” automated processes.
Bill Crager to step down as CEO of Envestnet
Crager is due to transition into the role of senior advisor upon his departure from the company’s leadership.
National Bank of Oman partners PayMate to modernise B2B payments
Using PayMate’s tech, NBO plans to digitise, streamline and automate its B2B payment processes.
Thunes makes leadership changes, appoints Floris de Kort as new CEO
Thunes’ current CEO Peter De Caluwe has been promoted to deputy chairman.
Ant Group reportedly nearing deal to acquire Dutch payments firm MultiSafepay
The potential acquisition would value the Dutch payments firm at $200 million, Reuters reports.
UK fintech start-up Zilo lands £25m in Series A funding
The funding was led by FISV and Portage, with participation from State Street and Citi.
Hitachi Payment Services snaps up cash management business from Writer Corporation
“Industry veteran” Anup Neogi has also been appointed as the new managing director and CEO of the acquired business.
B2B payments should have the same convenience as B2C payments
B2B payments have been neglected, cross-border B2B payments more so. It is time they caught up.
Indian fintech PhonePe names Ritesh Pai as CEO of international payments
Pai joins PhonePe from TerraPay, where he served as president of product and solutions for three years.
US fintech Talus Pay acquires Jobox and Clarus Merchant Services
Financial terms of both the acquisitions were not disclosed.
Kinecta Federal Credit Union taps FusionIQ for digital wealth platform
The credit union has adopted the FusionIQ One platform to power its ascent into digital investing services.
Capital on Tap triggers leadership reshuffle
Co-founder David Luck will assume the role of executive chairman, while CPO Damian Brychcy takes on the role of CEO.
Form3 strengthens board with appointment of Anil Arora as non-executive director
Form3 hopes to leverage Arora’s “significant experience” in founding and scaling up fintech companies.
Kazakhstani fintech Solva eyes future as SME-focused bank following $20m investment
The investment was backed by the Sawiris family of the Egyptian Orascom Group and ZCP.
Blackstone set to acquire majority stake in Japan’s Sony Payment Services
Sony Bank will roll over a certain portion of its equity and continue to remain a minority investor in SPSV.
US paytech Kindcard eyes up OpenTransact acquisition
New York-based OpenTransact is a self-serve banking platform built to support high-risk businesses.
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Saudi fintech start-up Tameed raises $15m Series A
The firm says it will use the funding to “meet the increasing demand” for its digital lending products.
US fintech start-up SellersFi secures new credit facility of up to $300m
The credit facility has been provided by Citi and long-time financing partner Fasanara Capital.
Ncontracts snaps up Quantivate for an undisclosed sum
Ncontracts hopes to strengthen its position in the US market and expand its offerings.
Visa to acquire majority stake in Mexican payment processor Prosa
The deal, for an undisclosed sum, is expected to close in the second half of 2024.
