August 2024: Top five new fintech launches of the month
FinTech Futures takes a look back at five of the top new fintech launches in August.
Business-to-Business/B2B
August 2024: Top five fintech funding rounds of the month
FinTech Futures takes a look back at five of the top funding rounds to take place over August.
Indian BNPL firm Axio lands $20m equity investment from Amazon fund
The Bengaluru-based fintech claims to have raised $137 million in equity to date.
RBI set to launch United Lending Interface to simplify access to credit for underserved borrowers
RBI governor Shri Shaktikanta Das says the ULI will launch “in due course”.
India’s DMI Finance lands a further $334m investment from MUFG
The new capital injection brings MUFG’s total investment in DMI Finance to $565 million.
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US fintech start-up Received to close down
“We punched above our weight, and fought a good fight,” writes co-founder and CEO Roi Ben Daniel.
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Ireland’s PTSB extends partnership with Worldpay to expand merchant services offering
PTSB will now make use of Worldpay’s DCC, ePOS and e-commerce solutions.
UK start-up Sync Savings to make market debut next month
Digital bank Griffin has been revealed as the start-up’s first partner bank.
India’s Vayana secures $20.5m in Series D funding
The funds will be used to enhance Vayana’s risk management and compliance platforms.
Nium looks to expand presence in LatAm with new licence applications
Nium has applied for a Payment Institution licence in Brazil.
Debt repayment platform Haboo Money prepares for 2025 launch
The service will leverage open banking to make repayments “more personalised and dynamic”.
UFS purchases Safe Systems to bolster compliance and security services
The combined companies currently service just under 400 financial institutions.
French paytech Lemonway has “certain limitations” placed on its operations in Italy by Banca d’Italia
Lemonway says the Italian central bank has told it to “not engage new Italian partners”.
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Video: Harnessing AI in financial services with IBM
IBM’s Shanker Ramamurthy and John Duigenan discuss how to overcome the hurdles around AI adoption.
ClearBank secures new Credit Institution Licence from the ECB to expand into Europe
The licence was secured by ClearBank Europe N.V., ClearBank’s newly established European entity.
Unit secures new embedded finance partnerships with Vantage Bank and Lincoln Savings Bank
The two new deals come just months after Unit revealed it was cutting 15% of its workforce.
Estonia’s Montonio triggers leadership change with Johan Nord rising to CEO
Nord takes the reins from Markus Lember, who will now become chief strategy officer.
Flywire acquires Invoiced to enhance B2B payments and software capabilities
Invoiced’s SaaS platform enables B2B finance teams to automate AR processes.
Payoneer acquires payroll start-up Skuad in Singapore for $61m
Payoneer CEO John Caplan says the deal will “accelerate our evolution and B2B momentum”.
Mondu lands new EMI licence to fuel European expansion
Mondu’s co-CEO says it is the first B2B BNPL firm in Europe to be granted its own EMI licence.
JP Morgan Payments expands in-store biometric payments throughout US with PopID
The solution first made its market debut last year.
Pagaya set to acquire Silicon Valley’s Theorem Technology for an undisclosed sum
Theorem is an institutional asset manager powered by machine learning technology.
NCR Voyix agrees to sell digital banking unit to Veritas Capital for $2.45bn
NCR Voyix says its digital banking business currently supports “1,300 top-tier financial institutions”.
Nuvei set to obtain licence in Brazil with proposed acquisition of Pay2All
The proposed acquisition will enable Nuvei to operate in Brazil as an electronic currency issuer.
SME-focused neobank Ampere launches card-to-card payments in partnership with Mastercard
The offering facilitates conversions in over 60 different currencies.
Credicorp Capital in Peru goes live with Temenos’ Multifonds
The investment firm has deployed the SaaS solution across 71 funds.
Northeast Bank adds credit cards to commercial suite through Corserv solution
The bank is leveraging the vendor’s account issuer programme.
Ebury reportedly appoints Goldman Sachs as it gears up for potential 2025 LSE debut
The Santander-owned fintech could list on the LSE as early as Q1 2025, according to reports.
Octo3 merges with fintech solutions provider Evantagesoft to launch new FTS.Money brand in Asia
The new brand is preparing to launch IBAN accounts and remittance services later this year.
Video: Keyless co-founder Fabian Eberle discusses privacy-preserving biometrics
Keyless’ Fabian Eberle speaks with FinTech Futures about the growing adoption of privacy-preserving biometrics.
Stripe selects Newline by Fifth Third Bank to expand its embedded financial services offering
Newline enables companies to launch payment and deposit solutions directly with Fifth Third Bank.
Bank of Lithuania appoints “temporary representative” to oversee activities of payments fintech Kevin
The central bank alleges that the fintech is “almost four months late” in submitting its audited annual accounts.
Stripe buys US paytech start-up Lemon Squeezy
Lemon Squeezy has been processing payments on Stripe since its launch in 2021.
UK embedded finance provider Weavr lands EMI licence in Malta
Weavr aims to leverage the licence to deliver “the most comprehensive domiciled IBAN offering in Europe”.
Fortis buys NetSuite payments division of MerchantE
Fortis says it has a “robust pipeline of feature enhancements” prepared for the division.
Acrisure names NYSE vice chairman John Tuttle as new president
Tuttle has spent the last 17 years in leadership roles at the NYSE and its parent, Intercontinental Exchange.
Morgan Stanley buys stake in UK business payments start-up Sokin
Sokin says the deal will “accelerate its product growth plans and further global expansion”.
