US earned wage access start-up Immediate bags fresh funding, expands credit facility
The Alabama-based firm aims to “improve financial wellness and eliminate cycles of debt for employees”.
Investment & Funding
Settle secures $145m credit facility from Silicon Valley Bank
Settle will use the expanded facility to boost its lending to e-commerce and consumer brands.
Italy’s Mediobanca partners Founders Factory for new UK fintech venture studio
The joint venture is central to the Italian bank’s strategic plan to strengthen its technology ecosystem.
Vietnamese fintech start-up Gimo secures $17m in Series A funding
Founded in 2019, Gimo provides flexible pay and financial wellbeing solutions for underbanked workers in Vietnam.
Dutch challenger Bunq lands additional €44.5m funding to fuel international expansion
The digital bank says it has now raised around €100m in funding over this year alone.
Bain Capital buys majority stake in India’s Adani Capital, invests $120m to boost growth
Bain Capital will pick up a 90% stake, with current CEO Gaurav Gupta retaining the other 10%.
US healthcare fintech Collectly lands $29m Series A funding
The company will put the funding towards enhancing its software and furthering its market expansion.
ICYMI fintech funding round-up: Anduin, Thunes, Portrait Analytics & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FinTech Futures: Top five stories of the week – 21 July 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Filipino fintech start-up Salmon lands $20m debt funding
Salmon says the investment marks the “largest ever” debt financing for a Series A tech company in the Philippines.
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.
UK climate fintech Sylvera secures $57m Series B funding
The latest investment follows Sylvera’s $32 million Series A round held in January 2022.
Swiss SME lender TP24 secures £345m debt funding from Barclays, M&G
The funding will be used to lend to SMEs in the UK, Australia and Netherlands.
Cognaize lands $18m Series A to fuel AI-powered document processing for financial services
The start-up will use the funds to accelerate its research and product development and boost its marketing activity.
Mexican start-up mattilda lands $19m Series A funding
The capital will be used to accelerate its growth in Mexico and fuel its international expansion plans.
Global fintech investment falls over H1 2023 amid economic turbulence but sector remains resilient
According to Innovate Finance data, $27.3bn was injected into the industry globally during H1 2023 through 1,714 deals.
ICYMI fintech funding round-up: Efficient Capital Labs, CapStack and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
DBS Bank to sell majority stake in AXS to Tower Capital Asia
The bank has struck an agreement this week to sell a 77.8% stake in AXS to the private equity firm.
US fintech start-up MerQube lands $22m Series B funding
The round was led by Intel Capital, with participation from new investor Allianz Life Ventures, and existing investors.
Defacto secures credit facility of up to €167m with Citi and Viola Credit
The fund will have an initial size of €67 million, with increases subject to consent from the lenders.
Fiinu to scale back operations amid continued efforts to source fresh funding
Fiinu’s cost reduction plans include staff redundancies.
US accounting fintech Jirav raises $20m Series B funding
With the funds, Jirav plans to fuel product development, expand its customer base and attract new talent.
Collective raises $50m to deliver “financial peace of mind” for freelancers
With the new funding, Collective plans to accelerate AI deployment across its operations and add new features.
Solaris raises €38m in funding to strengthen governance and compliance
The company says it will use the funding to strengthen its governance and compliance.
Egypt Post meets SME financing capabilities with Qardy partnership
Qardy will provide its financing services to Egypt’s SME community through Egypt Post’s numerous post offices.
Banking Technology Magazine July / August 2023 issue out now
Cover story: THE BEST OF BANKING TECH USA – Winners and pictures from an amazing night.
US fintech Clair lands $25m equity funding to power on-demand pay
The start-up has also secured a $150 million consumer lending program with banking partner Pathward.
ICYMI fintech funding round-up: Numarics, Zuvy, Shinkansen and Chari
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Jirnexu co-founders step down from leadership positions at the company
The company’s co-founder Hann Liew confirmed his and Lucas Ooi’s decision this week.
Silvr secures up to €200m credit facility to close European SME funding gap
The new transaction is backed by Citi and Channel Capital, and the initial facility will be for €67 million.
UK challenger Tandem Bank secures £20m in funding
Tandem’s CEO says the capital “will put extra momentum behind our green lending proposition”.
LendInvest secures £500m funding partnership with Chetwood Financial
LendInvest says the funding will fuel its buy-to-let and residential mortgage products.
US real estate investing platform PeerStreet files for Chapter 11 bankruptcy protection
The petition was filed on 26 June and the final hearing on the case is expected on 28 July.
ICYMI fintech funding round-up: Flatpay, Maza, Fennech & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FinTech Futures: Top five stories of the week – 30 June 2023
Featuring Orange Bank, Visa, Pismo, Robinhood, and more.
Risk and compliance fintech Unit21 bags $45m Series C
The company says the funding has fueled the growth of its Fintech Fraud DAO consortium, launched last fall.
One Trading, formerly Bitpanda Pro, bags €30m funding
The funding round was led by Peter Thiel’s Valar Ventures.
US fintech Ramp buys AI customer support platform Cohere.io
Cohere.io’s entire team, including CEO Yunyu Lin, will join Ramp as part of the deal.
UK fintech TreasurySpring secures $29m Series B funding
The funding follows its $10 million Series A held in June 2021, and brings its total capital raised to $42 million.
ICYMI fintech funding round-up: Mypinpad, Navadhan, TransBnk & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
