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.
Business-to-Business/B2B
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”.
TAS appoints former Accenture executive Fabio Benasso as president
A long-standing Accenture employee, Benasso began his career at the software firm in 1984.
UK agriculture-focused challenger Oxbury Bank lands £100m from British Business Bank
Oxbury Bank provides flexible lending and asset finance solutions specifically for the needs of farming businesses.
Qatar’s CQUR Bank partners Finastra to power new online corporate banking portal
The bank’s new portal will service its corporate clients with digital workflows and host-to-host integration solutions.
Wealthtech platform Allfunds appoints former Citi exec Antonio Varela as new COO
Varela previously spent more than 16 years at Credit Suisse in a number of senior tech-focused positions.
Abe Kuruvilla joins ACI Worldwide as chief technology officer
Kuruvilla joins the company from CoreLogic, where he served as chief information officer.
South African paytech Stanchion Payments names ex-Synthesis exec Pierre Aurel as new CPO
Aurel previously served as head of payments and cryptography at South Africa-based Synthesis Software Technologies.
Brazil’s QI Tech raises $200m in Series B funding round
The cash will be put towards product development and exploring merger and acquisition opportunities.
BNPL fintech Tabby lands $200m Series D at $1.5bn valuation ahead of planned IPO
Tabby claims it has become the Middle East’s first fintech unicorn ahead of its planned IPO in Saudi Arabia.
Mangopay secures UK EMI licence from the FCA
The authorisation will enable Mangopay to offer its full suite of services to new and existing UK customers.
Chloé Mayenobe joins paytech Thunes as chief operating officer
Mayenobe’s appointment follows the company’s $72 million Series C funding round.
