FinTech Futures: Top five news stories of the week – 31 May 2024
Our pick of the top fintech news stories this week includes HSBC, XYB, ABN Amro and more.
Business-to-Business/B2B
MD Finance report shows fintech companies with the highest chances of funding
Interest in quality companies with robust metrics is still alive and well. Download the free report to learn more.
XYB announces Derek Joyce as new CEO ahead of Monese split
Joyce previously advised XYB on its upcoming split from Monese as well as its latest fundraising endeavours.
FinTech Founders Video: start-up journey reflections and key advice for aspiring founders
Four fintech founders reflect on their start-up journeys and give their key takeaways for aspiring entrepreneurs.
Business banking start-up Relay raises $32.2m in Bain Capital Ventures-led Series B
The Relay platform is designed to “help small businesses take control of their cash flow”.
Stripe’s Paystack leads investor group set to acquire Nigerian fintech start-up Brass
Other members of the investment group include PiggyVest, Ventures Platform and P1 Ventures.
HPS set to acquire digital banking and payment software provider CR2
The deal will see CR2’s BankWorld platform combined with HPS’ PowerCard suite.
May 2024: Top five fintech partnership stories of the month
FinTech Futures takes a look back at five of the top fintech partnership stories of the month.
Former Stripe exec Gang Wang joins Nuvei as CTO
Wang succeeds Max Attias, who is transitioning to the role of CIO.
Spanish paytech PayRetailers acquires Transfeera to drive Brazilian expansion
PayRetailers recently received its Brazilian payment institution (PI) licence last month.
FinTech Founders Video: taking a start-up idea from inception to reality
Four founders explain how they made their fintech start-up ideas a reality.
Payments fintech Vitesse raises $93m Series C funding to fuel US expansion efforts
Vitesse has also appointed former 10x Banking chief Curt Hess as its new US executive president.
EFG Hermes snaps up minority stake in AI digital wealth manager Kenzi Wealth
EFG Hermes has also signed an MoU with Kenzi to enhance its EFG Hermes One trading platform.
Financial admin platform Osome secures $17m in mix of debt and equity funding
The Singapore-based start-up plans to utilise AI to further develop its product offerings.
Paytech start-up Aeropay raises $20m Series B for platform and partnership development
The US-based start-up has also introduced its new “homegrown bank aggregator” called Aerosync.
HSBC UK partners accounting software provider Ember for My Business Finances tool
The tool aims to help small businesses comply with the UK’s upcoming Making Tax Digital initiative.
AI-powered regtech Cube acquires global regulatory intelligence enterprises from Thomson Reuters
Through this acquisition, Cube aims to “set a new bar for the industry in regulatory automation”.
FinTech Founders Video: essential traits for a successful founding team
Four fintech founders discuss the essential traits that can help founding teams fly.
New UAE-based open banking start-up Thimsa launches in beta
Thimsa will initially launch its payments platform in beta in the UAE and Bahrain.
Broadridge acquires Securities Industry Services business from Kyndryl
Kyndryl will provide the SIS business operated under Broadridge Canada with managed services.
Corpay to purchase AP automation platform Paymerang from Aldrich Capital for $475m
The transfer of Paymerang from Aldrich Capital to Corpay is expected to close this quarter.
FinTech Futures: Top five news stories of the week – 10 May 2024
Our pick of the top fintech news stories this week includes Monzo, NAB, GoTyme Bank, and more.
Basware acquires invoice management and statement reconciliation platform AP Matching
The acquisition will also see Basware integrate AP Matching’s managed services division.
WaFd Bank to deploy Fiserv’s CashFlow Central for small business customers
The digital payment and cash flow management solution is the result of Fiserv’s partnership with Melio.
Mangopay appoints Meta product lead Ariel Shoham as VP of risk product
The European payment infrastructure provider is seeking to expand its fraud prevention solutions.
NAB partners UK fintech Banked to boost merchant adoption of A2A payment solutions
NAB says the first group of business clients to adopt A2A payments will go live “in the first half of 2024”.
Digital platform Crowded deploys Visa Direct for international money transfers
The capability enables the platform’s users to transfer funds to any eligible Visa account globally.
SumUp lands €1.5bn private credit debt deal led by Goldman Sachs
The latest funding brings the total amount raised by SumUp since its inception in 2012 to over €3.2 billion.
Nayax acquires Brazilian paytech VMtecnologia to propel LatAm expansion
The deal has a total potential consideration of up to $27 million based on certain conditions.
Danish fintech Pleo bags €40m debt financing from HSBC Innovation Banking
The business spend management firm intends to expand its credit offering further across Europe.
Bank of Spain grants Amadeus’ Outpayce EMI licence
The fintech can now to accept funds, issue pre-paid debit cards and facilitate money transfers in Spain.
Banking Circle appoints Johan Bergqvist as new group CFO
The appointment marks the third time Bergqvist has performed the duties of group CFO.
Digital lending platform Blend Labs bags $150m funding from Haveli Investments
Blend will use the cash to repay “all amounts payable” under its existing credit agreement.
White paper: Redefining banking for the digital future
Learn how to harness digital-first, on-demand banking to increase bottom lines.
Delta Capita buys Client On-Boarding solution from LSEG
LSEG is to continue using the solution as a client of Delta Capita.
Solid Financial Technologies reportedly settles dispute with FTV Capital
Solid will reportedly buy back FTV’s stake in the start-up in full, according to Fintech Business Weekly.
Paystand buys Teampay to enhance B2B payments platform with corporate spend management
Partially financed by Stifel Venture Banking, the deal marks Paystand’s second acquisition in two years.
ICYMI fintech funding round-up: Fintoc, Bokra, RockFi, Bump and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Indian fintech Aurionpro bolsters AI portfolio with $16.5m takeover of Arya.ai
Arya.ai offers a cloud-based PaaS that enables enterprises to develop their own AI solutions.
OakNorth launches SMB commercial cards with Marqeta platform
The new offering will also include deposit accounts and automation tools for bill payments.
