ICYMI fintech funding round-up: Mundi, Revio, Pontoro and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
Business-to-Business/B2B
FinTech Futures: Top five stories of the week – 29 September 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
UK fintech funding round-up: Apron, Vega and Mintago
A handy round-up of the recent funding endeavours of fintech companies in the UK.
Wealth management firm Farther more than doubles valuation following $31m Series B
The New York-based firm intends to invest the funding into its wealth management portal and talent.
Codebase partners Network International to launch BaaS solution in the Levant
The partnership intends to accelerate the pace of digital banking transformation throughout the Levant region.
DigitalAPICraft signs as Google Cloud vendor and appoints Marco Tedone as CTO
Marco Tedone, the firm’s new CTO, spent almost 12 years leading API strategy for HSBC.
UK fintech Traydstream lands $21m in Series B funding round
With the new funding, Traydstream plans to double down on its growth and enhance its AI-led platform.
PortX raises $16.5m in Series B funding round
The investment follows one year after PortX raised $10 million in its Series A funding round.
B2B payments platform Slope secures $30m funding to build out AI tools
Slope plans to leverage new investor Sam Altman’s “extensive” AI experience to scale its platform.
US Treasury Department enlists JP Morgan for account validation services
The department claims to have suffered $247 billion in financial losses last year due to “improper payments”.
Yes Bank appoints Pankaj Sharma as chief strategy and transformation officer
Prashant Kumar, managing director and CEO of Yes Bank, says Sharma’s appointment comes “at an important juncture”.
XYB resolves bank-building barriers with GenAI through Google Cloud partnership
XYB was launched by London-based banking services provider Monese back in May.
Standard Chartered strikes corporate multibank connectivity through Starfish Digital partnership
The bank’s new service seeks to benefit its corporate clients’ inter-bank connectivity and cash management processes.
Switch2Zero appoints Galileo CEO Derek White as chairman
White is currently serving as CEO at Galileo Financial Technologies, a US-based payments and banking platform.
Funding Societies secures $27m debt funding to support SMEs across Southeast Asia
Funding Societies will channel the funding into its financing solutions to support SMEs in its five operating regions.
Deutsche Börse set to take over wealthtech firm SimCorp
Deutsche Börse first announced the acquisition in April as a means of developing its investment management business.
Bahrain’s Bank ABC taps JP Morgan for blockchain-based cross-border payment service
The launch arrives in tandem with the bank’s documentary trade suite, ABC Trade.
Fairer Finance appoints Tim Hogg as director to strengthen Consumer Duty expertise
Hogg describes Consumer Duty compliance as “a comprehensive, multifaceted obligation that demands a nuanced approach”.
Akber Jaffer named as SmartStream’s new CEO
Bringing more than 25 years of experience to his new role, Jaffer joins SmartStream from Finastra.
Solaris reportedly struggling to raise funds to fulfil a major credit card deal – FT
According to the Financial Times, Solaris is looking to raise €100m to fulfil its credit card deal with ADAC.
Lithuanian credit union group Kreda taps Amlyze for AML and compliance services
It is the fifth industry partnership for Amlyze this year and succeeds its $1 million pre-seed funding round in May.
Rimes names Theo Bell as head of newly created AI product division
With a career spanning more than 15 years, Bell brings a “rare wealth of experience” to her new role, Rimes says.
EWA start-up ZayZoon secures $34.5m in Series B funding round
The round was led by Framework Venture Partners, with participation from additional investors.
Onfido appoints Daniel Keller as chief technology officer
Keller joins Onfido from Europe’s Visable Group, where he served as CTO for over six years.
Bendigo and Adelaide Bank taps nCino for business banking upgrade
With nCino, the bank aims to improve efficiency and deliver a “frictionless” experience for staff and customers.
Sibos 2023: BMO taps DailyPay to offer earned wage access to commercial clients
The news was announced at the Sibos conference, which is being held in Toronto, Canada, this year.
ICYMI fintech funding round-up: Fuze, Enigio, DKK Partners and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
Standard Chartered Ventures launches new BaaS fintech Audax
Audax has been designed to help banks and financial institutions accelerate their digital transformation.
UK SME lender Fleximize secures £136m financing from Goldman Sachs and Citi
The financing will be used to redeem existing debt, expand lending operations and accelerate Fleximize’s growth.
Clear Street bolsters technology leadership with two new hires
Jon Daplyn joins as chief information officer and Hari Godbole as vice president of engineering.
Sibos 2023: HSBC launches new virtual card and digital trade finance solution
The UK banking giant has also announced the launch of HSBC TradePay, a document-free digital trade finance solution.
Sibos 2023: Visa and Swift collaborate to streamline cross-border payments
Through the partnership, both firms aim to provide their customers with “more choice” when sending money globally.
Sibos 2023: Revolut Business launches new payment solution RevTags
RevTags, already available to Revolut’s retail customers, is now being rolled out to its business customers globally.
UK alternative lender ThinCats secures nearly £700m in funding facility
The new facility will help ThinCats support lending of up to £696 million to mid-sized businesses in the UK.
Flex secures $20m in equity and $100m in debt funding as part of Series A round
Along with the funding, Flex has also launched its finance app catering to underserved small business owners.
Accounting software firm Tipalti expands to Europe with EMI licence and localised offering
Additionally, the company has also launched a “fully localised” solution catering to the European market.
Chase Payment Solutions enlists Gusto Embedded for payroll services
Gusto says its solution allows Chase’s payroll processing to become “significantly simplified”.
Aussie SME challenger Judo Bank taps Backbase for its engagement banking platform
By leveraging Backbase’s platform, Judo Bank aims to “create new digital experiences” for its customers.
Indian fintech Perfios secures $229m in Series D funding round
The funding came from Kedaara Capital, and existing backers Warburg Pincus and Bessemer Venture Partners.
India’s Samunnati signs for Finbots.AI’s CreditX AI credit modelling solution
The deal marks another step in Finbots.AI’s push to scale across APAC.
