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.
Cards
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.
Financial super-app Curve bags additional £58m in Series C extension
The additional cash brings Curve’s total Series C funding to over £133 million.
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.
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.
Recharge taps gaming payments with Startselect acquisition
Recharge plans to close two to three more acquisition deals in the next 12 months.
Fintech start-up Rauva buys Banco Empresas Montepio for €30m
Rauva’s CEO and founder, Jon Fath, says the start-up is on its way to become one of Portugal’s first unicorns.
US fintech Ampla secures $258m credit facility with Goldman Sachs and Atalaya
Ampla connects consumer brands with embedded banking, bill pay, growth capital and corporate card solutions.
Wamo strengthens SME services with Modulr BaaS partnership
The partnership is set to enable Wamo to broaden its business account services in the UK and EU.
ICYMI fintech funding round-up: CredRight, MFast, Maly and OneID
A handy round-up of the recent funding endeavours of fintech companies across the globe.
US Bank and subsidiary Elavon launch new POS solution for small businesses
The solution seeks to help small business owners avoid making a “large upfront investment”.
Payments giant Mastercard to end crypto card partnership with Binance
As of 22 September, Mastercard will be ending its four pilot co-branded Binance card programmes.
BMO Commercial Bank taps Extend to launch corporate spend management app
BMO is the first global Mastercard issuer to offer contactless virtual cards through Extend.
India’s Yes Bank draws on Zaggle to launch credit cards with spend management capabilities
The Yes Bank Zaggle corporate credit card seeks to enable businesses to tap operation efficiencies.
Krakowski Bank Spółdzielczy taps Diebold Nixdorf to modernise ATM network
KBS aims to upgrade its entire ATM network by the end of 2023.
Moniepoint gets the go-ahead to acquire Kenyan fintech Kopo Kopo
For Moniepoint, which operates in Nigeria, the acquisition allows it to expand its footprint into Kenya.
Brazilian fintech Nomad secures $61m in fresh funding
The funding was led by Tiger Global Management, with participation from existing investors
Chilean digital bank Tenpo partners Dock for new credit card offering
The offering positions Tenpo as a competitor to traditional financial lenders in the country.
Peoples Bank taps Corserv to launch credit card programme
With Corserv, Peoples Bank will be able to offer 14 different credit card products to its business and retail customers.
ICYMI fintech funding round-up: Communion, CityPay & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Turkish fintech Param acquires BNPL firm Twisto to boost European expansion
Param plans to leverage Twisto’s licences to offer its embedded financial solutions across Europe.
Mexican challenger Klar lands $100m debt facility to expand credit product offerings
The new facility has been provided by US investment firm Victory Park Capital.
New digital bank for the US military Roger launches
Roger was built in partnership with banking technology solutions provider Nymbus.
DBS completes acquisition of Citi’s consumer banking business in Taiwan
DBS has also absorbed close to 3,000 employees from Citi Consumer Taiwan.
ICYMI fintech funding round-up: Chargeflow, Knot, Treasure Financial & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Torpago confirms two new senior hires following “significant growth”
James Yacobucci has been appointed to head of bank partnerships and Noah Martin to head of capital markets.
Bangladesh Bank taps Fime to launch domestic card scheme
The six-year partnership will see Fime help the central bank establish an independent payment infrastructure.
US fintech Greenlight launches credit builder tool for teenagers
Greenlight says parents can add their teenagers as authorised users of its credit card to start building credit.
Payabl. secures EMI licence in the UK
Payabl. says the authorisation will “unlock significant opportunities” as it looks to expand across the UK.
SumUp secures $100m credit facility to expand merchant cash advance product
The facility is being provided by Chicago-based investment firm Victory Park Capital.
Mexican challenger Albo snaps up Delt.ai for $20m
The acquisition makes Albo “the only neobank to offer debit and credit products for both consumers and SMBs”.
Credit card fintech Petal secures $200m debt facility from Victory Park Capital
In addition, the company has also raised $20 million in new equity financing from its existing investors.
FinTech Futures: Top five stories of the week – 4 August 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Over $10bn deposited into Apple Card’s savings account in first four months of going live
The offering had already accumulated $1 billion in deposits within the first week of going live.
Mercury Financial secures $200m debt facility to expand credit card business
The facility has been provided by client funds managed by US investment banking company Neuberger Berman.
Pay.UK reveals big jump in number of current account switches in the UK over last 12 months
Pay.UK’s Current Account Switch Service has seen a 50% increase in switches compared to last year.
Finalists announced for PayTech Awards USA 2023
We are thrilled to share with you the finalists for the first PayTech Awards USA!
UK’s Clockwise Credit Union launches self-built core banking solution
Clockwise’s IT manager says the launch is a “culmination of a huge amount of work over the past six years”.
Webinar | 6 September 2023: Pioneering innovative partnerships – unveiling the game-changing fintech hybrid model at the point-of-need
An insightful journey through the experience of the successful implementation of the hybrid start-up model.
Karat Financial secures $70m in mix of equity and debt financing
The start-up has also launched a new business card in partnership with Visa to help digital creators access credit.
