MPOWER Financing boosts lending capacity to over $300m with fresh debt funding
The financing will enable MPOWER to issue more loans to international students studying in the US and Canada.
Lending
Aussie SME lender Earlypay acquires Timelio’s $40m loan portfolio and assets
The portfolio comprises $35 million in invoice finance and a further $5 million in trade finance.
Klarna to establish UK holding company in preparation for billion-dollar IPO
Klarna describes the UK holding company as “an important early step on a journey towards an eventual IPO”.
BNPL fintech Jifiti lands European EMI licence from Swedish regulator
Jifiti says it can now provide clients with a broader range of payment products and pan-European solutions.
Intuit to merge personal financial management subsidiary Mint into Credit Karma
Intuit first acquired Mint for $170 million back in 2009.
Amazon adds BNPL to its Amazon Business platform through Affirm partnership
Amazon Business customers can now select Affirm at checkout to pay for eligible goods over time.
ICYMI fintech funding round-up: Funding Societies, Fero, Kroo and Zilch
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FinTech Futures: Top five stories of the week – 3 November 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
UK agriculture-focused challenger Oxbury Bank lands £100m from British Business Bank
Oxbury Bank provides flexible lending and asset finance solutions specifically for the needs of farming businesses.
Atom Bank on track for balance sheet growth following £100m equity raise
The bank’s “long-term” shareholders, BBVA, Toscafund and Infinity Investment Partners, participated in the raise.
Brazil’s QI Tech raises $200m in Series B funding round
The cash will be put towards product development and exploring merger and acquisition opportunities.
BNPL fintech Tabby lands $200m Series D at $1.5bn valuation ahead of planned IPO
Tabby claims it has become the Middle East’s first fintech unicorn ahead of its planned IPO in Saudi Arabia.
BNP Paribas taps Lenvi to manage risk for factoring and receivables finance
BNP Paribas will deploy Lenvi’s Riskfactor product portfolio in eight countries across Europe.
Spain’s Twinco Capital secures €50m debt facility from BBVA Spark
The facility will be used to support the company’s portfolio growth and geographical expansion plans.
ICYMI fintech funding round-up: UnaFinancial, Multifi, Triple-A and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Íkualo to launch next month as neobank for Europe’s financially excluded immigrant community
The licensed electronic money institution will be able to onboard new customers with just a passport.
Turkish fintech Figopara taps Provenir to automate risk decisioning
The partnership comes as Figopara gears up for a “significant” international expansion push.
Brian Cole joins ClearScore as group chief financial officer
Cole has previously served as CEO of Barclaycard UK and CEO of Capital One’s UK division.
UK lendtech Uncapped lands £200m debt facility as it eyes international expansion
With the new facility, Uncapped aims to expand its reach and provide more digital businesses with access to financing.
Indian fintech Aurionpro acquires loan management system Omnifin for $9.8m
Aurionpro says the deal “significantly accelerates” its ambitions to take its lending solutions into new markets.
National Bank of Greece deploys Infosys Finacle core banking system
The deployment forms part of the bank’s core banking replacement project ‘Cosmos’.
Nova Credit raises $45m in Series C round to expand product suite
The round was led by Canapi Ventures and builds upon the company’s $50m Series B from 2020.
Iwoca lands £200m debt facility from Barclays and Värde Partners
With the new facility, Iwoca plans to meet the “growing demand” among SMEs for working capital.
Ally Financial CEO Jeffrey Brown to step down
Brown is due to depart the Michigan-based online bank on 31 January 2024.
Paytech NMI acquires Sphere’s commercial division to boost underwriting and risk management capabilities
NMI provides payment gateway and processing solutions to businesses looking to diversify their payment methods.
ICYMI fintech funding round-up: Untangled Finance, Kennek and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
GreenSky sold to Sixth Street-led investor consortium, Goldman Sachs confirms
The consortium consists of funds and accounts managed by KKR, Bayview Asset Management and CardWorks.
Republic Bank of Arizona taps Biz2X for business lending platform
The bank wants to “make it easy for Arizona businesses to get the capital they require for growth”.
Lloyds backs Sonovate securitisation increase to £240m
The increase builds upon a £165 million deal made with BNP Paribas and M&G Investments in July.
Scottish challenger Alba Bank to migrate to Mambu’s core banking platform
Alba Bank says the migration will enable it to build products at speed to meet evolving market demands.
Pioneering innovative partnerships: Unveiling the game-changing fintech hybrid model
Watch this video for an in-depth look at The Greenlend Project.
Revolutionising SME financing: How Banca AideXa uses AI and open banking to support SME growth
We explore how Banca AideXa uses artificial intelligence (AI) and open banking to revolutionise online financing.
Francesca Carlesi steps down as CEO of digital mortgage lender Molo
Carlesi is to depart Molo, which she has led since its inception in 2018, on 25 November 2023.
Bahrain’s Flooss taps Tarabut for open banking-powered lending
Flooss is adopting Tarabut’s Income Verification product, enabling direct access to customers’ income information.
Lithuanian P2P lending platform Savy taps Amlyze for compliance solutions
Bendras finansavimas, the operator of Savy, is expected to utilise all of Amlyze’s core modules.
Fintech unicorn Slice to merge with India’s North East Small Finance Bank
Its merger with NESFB will see Slice transition into a small finance bank.
Investree to launch Qatar lendtech hub following $231m Series D
The round also saw participation from existing investor SBI Holdings, and succeeds the platform’s $23.5m Series C.
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.
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.
