Banc of California joins Rise Economy for $4.1bn community benefits plan
The plan succeeds the bank’s merger with PacWest Bancorp in July, combining assets valued at $36.1 billion.
Lending
ICYMI fintech funding round-up: Mantle, SaaScada, Rainforest and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
UK fintech Wagestream snaps up credit card challenger Keebo
Keebo applies open banking data in its credit decisioning process to lend to those with thin or limited credit histories.
Clearco completes recapitalisation, secures $60m Series D funding and $100m financing facility
The recapitalisation comes after the Canadian growth capital firm carried out significant job cuts over the last year.
Finalists announced for Banking Tech Awards 2023
Take a look at the 2023 Banking Tech Awards finalists!
Central Bank of Ireland proposes minimum knowledge requirements for credit union workers
The reforms will take effect from 1 October 2024 and will incur a four year transition period.
Mexican neobank Albo raises $40m in Series C funding round
The round also saw participation from existing investors Valar Ventures and Nazca Ventures.
Video: Axefinance at Sibos 2023 – automating the credit lifecycle
At Sibos 2023, we caught up with Axefinance CEO Dhafer Berrachid and CCO Chris Kneen.
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.
UK mortgage lender Perenna raises $52m on the back of its unrestricted banking licence
The equity investment comes from IAG Silverstripe and the lender’s existing backers.
Atom Bank taps climate tech firm Kamma to evaluate mortgage book emissions
Kamma’s tech will provide a “deep review” of the climate impact of Atom’s mortgage and lending activities.
Bright Money lands $62m debt and equity funding
The round consists of $50 million in debt funding and $12 million in equity.
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.
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.
Bluestone Group to part ways with Irish motor finance business following sale to Close Brothers
Following the completion of the sale, Bluestone intends to increase its focus on its fintech business Fignum.
CardsPal founder and CEO Saim Yeong Harng steps down three months after Utu acquisition
Utu acquired the Singapore-based lifestyle app in June following its $33 million Series B.
Pakistan’s latest challenger HugoBank gains preliminary approval
It will position itself as a retail bank offering digital financial services to boost financial inclusion in Pakistan.
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.
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.
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.
HSBC UK taps Nova Credit for international consumer credit data
HSBC previously invested $10 million in Nova Credit’s Series B round in September 2022.
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.
ICYMI fintech funding round-up: Fipto, Form3, Immix, Emata & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Chatham Financial names Sam Graziano as managing director
Graziano joins from enterprise SaaS company Amount, where he was CCO for just over a year.
New digital bank JB to launch in Saudi Arabia
The new venture is described as a “digital leasing and lending platform”.
Development Bank of St. Kitts and Nevis renovates core with ERI’s Olympic Banking System
The upgraded core is anticipated to attract new foreign investment to the island’s development projects.
UK challenger Kroo looks to raise £70m Series C as it takes on banking transparency
Kroo is looking to family offices, institutional investors, VCs and private equity in the UK, US and Europe.
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.
Amplifi Capital lands £100m securitisation warehouse with NatWest for Reevo Money expansion
Amplifi Capital previously received £50 million in debt funding from M&G back in June.
Scottish challenger Alba Bank scales leadership team with two new appointments
Robert Sharpe and Andrew Lewis join as chair of the board and chief risk officer (CRO), respectively.
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.
UK challenger Zopa looks to accelerate growth with £75m funding
This latest funding brings the total amount of capital raised by the bank to £530 million.
FinTech Futures: Top five stories of the week – 8 September 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
UK start-up Perenna secures unrestricted banking licence from FCA and PRA
The London-based start-up becomes one of the first firms to secure an unrestricted bank licence in 2023.
Commonwealth Bank of Australia snaps up business lending platform Waddle from Xero
Xero announced its plan to exit the start-up earlier this year after initially acquiring it in 2020.
Irish lender Wayflyer lands $1bn financing deal with Neuberger Berman
Wayflyer plans to deploy the capital to its 3,000 global e-commerce clients.
Pepper Money agrees to buy HSBC’s New Zealand mortgage portfolio
On completion, the acquired portfolio is expected to be worth NZ$1.4 billion in outstanding balance.
LC Financial Holdings completes acquisition of BCM Global for undisclosed sum
LC Financial Holdings will help BCM Global expand its business and develop new services across Europe.
Ugandan fintech Asaak acquires FlexClub Mexico for undisclosed sum
The acquisition marks Asaak’s entry into the Latin American market after achieving profitability in Uganda.
