ICYMI fintech funding round-up: Twinco Capital, Architect and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
SME
SMB financial health platform Nav acquires Nuula
Nav says the acquisition will boost its existing offerings for small businesses.
Finora Bank taps regtech iDenfy for automated customer onboarding
The partnership will help Finora Bank manage fraud risks and gain insights into its financial operations.
PayTech Awards call for nominations
The PayTech Awards 2023 will take place on 30 June at the Merchant Taylors’ Hall in London.
Open letter calls on UK government to boost SME credit access
The letter has been co-signed by Codat, Atom Bank, Funding Circle, Iwoca, Allica Bank, SPRK Capital and others.
How Drip Capital is simplifying trade financing for SMBs in emerging markets
FinTech Futures chats with Pushkar Mukewar, founder and CEO of Indian fintech Drip Capital.
Israeli trade financing start-up 40Seas raises $111m
40Seas offers financing for SMEs involved in global commerce.
Tide names Meta’s Vinay Ramani as new chief product officer
Ramani says he is joining Tide at a “critical juncture in its plans to globalise”.
Embedded finance to lead the way in 2023 fintech innovation
Over 2023, financial services will continue to become more digital, accessible and decentralised.
SME insurtech Superscript lands £45m Series B
The funding will be used to develop Superscript’s underwriting and broking capabilities.
PayTech Awards 2023 now open for nominations
PayTech Awards are open to banks, financial institutions, paytech software & services providers worldwide.
Funding Circle appoints Steve Allocca as US managing director
Prior to Funding Circle, Allocca was chief operating officer (COO) at small business banking provider BlueVine.
Axis Bank taps Open to launch digital current accounts for businesses
Axis Bank says its new product will help save customers time and effort with a fully digital authentication process.
Australian fintech Grapple secures $35m in funding
Sydney’s Grapple landed $35 million in a warehouse debt facility from Global Credit Investments (GCI).
eBook: SME lending – the road to real-time approvals
Accelerate your SME lending with quick credit approvals.
UK’s Recognise Bank secures £25m funding from PV27
The fresh funding brings Recognise Bank’s total funding to date to over £95 million.
JP Morgan invests in Indian paytech ISG, buys stake in Viva Wallet
JP Morgan is aiming to enhance digital transactions for its corporate clients in APAC and Europe.
Canada’s Plooto secures $20m Series B funding to fuel growth
The start-up offers accounts payable and accounts receivable automation software for SMBs.
CWB expands Brim Financial partnership with new business credit card offering
Customers will have access to Brim’s full suite of product capabilities powered by the fintech’s tech platform.
Bpifrance taps Thought Machine for Vault Core banking platform
Bpifrance is the first bank in France to deploy Thought Machine’s Vault Core platform.
European fintech Novicap bags €200m debt facility from Fasanara Capital
Novicap will use the funding to accelerate its growth, boost its credit portfolio and develop new solutions.
US paytech Cantaloupe buys Three Square Market for $41m
The acquisition was funded with 90% cash and 10% stock.
New UK bank Ashman live with Mambu’s core banking tech
Once fully launched, Ashman will serve SMEs in the UK’s commercial real estate sector.
Singapore’s Osome raises $25m in Series B funding
The start-up uses machine learning to help businesses automate accounting, payroll and tax reporting.
Embedded finance fintech Arex sells Finnish arm to Svea Bank
Svea Bank says the acquisition will “strengthen” its position as a corporate financier.
SME challenger bank Allica bags £100m Series C funding
Allica says the cash will allow it to “scale rapidly and accelerate its disruptive impact in the UK SME market”.
Veritex Community Bank taps Finzly to transform payments
The Texas-based bank will utilise Finzly’s Payments Hub solution.
FinTech Futures: Top five stories of the week – 2 December 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Tide to acquire SME finance marketplace Funding Options
The deal will see Tide’s 475,000 SME customers gain access to more credit options.
Thought Machine’s core banking system to “reinvent” Payset
The go-live of Thought Machine’s Vault Core is expected in April 2023 at Payset.
US SME banking platform Novo bags $35m in Series B extension
The new cash takes its total Series B funding to $125m following a $90m raise earlier this year.
Japanese paytech unicorn Opn acquires US firm MerchantE
Both firms will share technology and best practices, as well as jointly develop new products and services.
Fintech Talents 2022: Where are we with open finance?
Speakers at the Fintech Talents Festival sat down to unpack the current state of play with open finance.
Egypt’s Banque Misr lands $160m from the African Development Bank to finance SMEs
The loan consists of a $130m credit facility and $30m from the Africa Growing Together Fund (AGTF).
Not all banks are created equal
Digital banks are setting themselves apart from the incumbents and ushering in a new age in banking.
iBanFirst taps Fenergo for client lifecycle management solution
iBanFirst says Fenergo’s tech will allow it to offer “faster and more effective” digital customer onboarding.
Centre for Finance, Innovation and Technology launches to support UK fintech
The CFIT will be chaired by Charlotte Crosswell, a former CEO of both Innovate Finance and Nasdaq NLX.
UAE’s Wio Bank goes live on Mambu’s cloud banking platform
The challenger says it chose Mambu’s API-led cloud platform to achieve a “faster” time to market.
Standard Chartered and UpSwot launch pilot for SME business analytics solution
The solution will provide the bank’s SME clients with data-driven insights and forecasting capabilities.
Brazil’s Agrolend lands $27m Series B funding
The start-up provides Brazilian farmers access to credit through a mobile-first platform.
