HSBC launches $150m venture debt product for high-growth scale-ups in Australia
Loans are anticipated to range from $6.6 million to $19.8 million.
Business-to-Business/B2B
Swedish lender Froda hires former Klarna director Roger Forsberg as CTO
Forsberg is expected to form and execute a strategy for Froda’s loan products and embedded finance operations.
Funding Circle and Atom Bank to provide an additional £150m in financing to UK SMEs
The third such partnership between the two firms takes Atom’s total lending with Funding Circle up to £800m.
UK government publishes findings from the Future of Payments Review
Commissioned by the UK chancellor and launched in July this year, the report has been authored by Joe Garner.
Mexican fintech start-up Trafalgar taps Thought Machine for core banking technology
Trafalagar plans to launch its new platform, running on Vault Core, in Q2 2024.
Irish paytech NomuPay acquires UK-based PSP Total Processing
Total Processing provides payment solutions to merchants in Europe, North America and MENA.
Fexco hires ex-JP Morgan Payments director Sara Savidge as CEO of corporate payments
Savidge previously served in several high profile roles at JP Morgan Payments, most recently as managing director.
UK fintech Triver secures £20m debt facility from Avellinia Capital
Triver says the new facility will enable it to offer more than £200 million in funding annually to small businesses.
Mastercard’s joint venture receives approval to commence domestic payments in China
Mastercard’s JV received formal approval from the People’s Bank of China.
Fils launches as digital ESG infrastructure for payments sector
Founder Nameer Khan describes his latest venture as “a catalyst for the evolution of ESG enforcement”.
Blue Ridge Bank set to trim BaaS fintech partnerships down to a “limited number”
The bank was flagged by the OCC last year for “unsafe or unsound” practices concerning its BaaS business.
Klarna prepares for SEPA instant payments with Form3 partnership
The agreement will directly connect Klarna to STEP2 and the gross settlement payment system RT1.
US challenger HMBradley winds down consumer business, eyes B2B space
“Our consumer brand growth was falling short of our goals,” says HMBradley CEO and co-founder Zach Brunke.
Advent International snaps up UK paytech myPOS
The deal will be completed through Advent’s new payments company, AI Circle Bidco.
US fintech Brex names Karandeep Anand as its first president
Anand first joined Brex in January 2022 as chief product officer.
WeLab launches Bank Saqu as its second digital bank in Asia
The newly launched digital bank aims to target the younger generations, with a focus on solopreneurs in Indonesia.
Egypt’s KashNow partners Sandah to provide small businesses with access to financing
Small businesses will now be able to submit loan applications through the KashNow app.
Dutch payment processor Silverflow lands $16.3m funding
Picus Capital, Coatue, Crane Venture Partners, Inkef, and a number of angel investors also participated in the round.
ICYMI fintech funding round-up: Refine Intelligence, Apiture, Solvimon and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
Lynx raises £15m Series A funding to fight fraud and financial crime
Created 20 years ago, Lynx leverages AI and machine learning to detect and prevent financial crime.
AMP Bank and Salt Bank tap Starling’s Engine platform for digital banking offerings
Engine enables clients to build their own banking propositions using the same core technology that Starling uses.
Redpin launches with new strategy and £140m in funding
The launch follows a previous £140 million investment that Redpin received from Blackstone, Palamon and Corsair.
Mastercard taps Japan’s NEC to roll out biometric checkouts across APAC
Mastercard first launched its Biometric Checkout Programme last year with NEC as an early partner.
Japan’s MUFG pens multi-year partnership with AWS for digital transformation
By moving to the cloud, AWS claims that MUFG has been able to reduce IT operational costs by 20%.
Customers Bank taps Funding Circle for Lending-as-a-Service platform
The bank says the platform will enable it to deliver “affordable term loans” directly to its SMB customers.
UK fintech Fnality raises £77.7m in Goldman Sachs and BNP Paribas-led Series B
The fintech’s Series B also saw participation from existing investors BNY Mellon, UBS and Nasdaq Ventures.
Trading solutions provider CQG agrees to executive ownership deal
The company’s acquisition by its senior executives is expected to be completed this month.
Private investment management platform Arch raises $20m Series A
The latest cash injection brings Arch’s total funding to date to over $25 million.
OakNorth taps Coconut founder Sam O’Connor to lead business banking unit
O’Connor joined the bank five months ago following GoSimpleTax’s acquisition of Coconut.
US business payment platform Bill reportedly closing on $1.95bn deal to acquire Melio
Bloomberg reports that an official announcement regarding the potential acquisition could arrive within a week.
SimCorp in merger with Axioma following Deutsche Börse takeover
SimCorp and Axioma are both subsidiaries of the Deutsche Börse Group.
Kash Baghaei joins expense management platform Jeeves as chief product officer
With 20 years of experience in engineering and product management, Baghaei joins Jeeves from Early Warning.
UK challenger bank OakNorth launches new business banking offering
OakNorth’s new product is currently in a phased beta, with businesses being invited to sign up to a waitlist.
Volante Technologies lands $66m in debt and equity funding round
The funding brings the total external investment in the firm to $116 million to date.
Aussie SME lender Earlypay acquires Timelio’s $40m loan portfolio and assets
The portfolio comprises $35 million in invoice finance and a further $5 million in trade finance.
US fintech Bond.AI snaps up Elastech to bolster cloud and data offerings
As part of the acquisition, Elastech CEO Scott Llewelyn will join Bond.AI to lead its professional services division.
National Bank of Georgia taps Ripple for CBDC pilot
With Ripple, Georgia’s central bank aims to explore use cases and potential benefits of having a digital currency.
US fintech Payroll Integrations secures $20m Series A funding
Payroll Integrations plans to expand its product line, foster new relationships and invest in its operations.
Amazon adds BNPL to its Amazon Business platform through Affirm partnership
Amazon Business customers can now select Affirm at checkout to pay for eligible goods over time.
Regtech Qomply hires former FCA regulator as director of transaction reporting
The company describes Sophia Fulugunya as “a front-line expert in transaction reporting”.
