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”.
SME
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.
SME financial services provider Finom buys cross-border paytech Kapaga
The merger will boost Finom’s UK and European expansion plans.
Lendtech Ezra appoints Erwan Gelebart as new CEO
Gelebart has spent the past 14 years working for digital financial services firms across Africa and Asia.
National Bank of Pakistan taps Finastra for trade finance solution
The bank will deploy Finastra’s end-to-end working capital solution, Fusion Trade Innovation.
Ashman selects nCino to power its real estate lending solution
The UK challenger will deploy nCino’s cloud-based Bank Operating System.
Mexican B2B paytech Yaydoo acquires Oyster Financial
The acquisition, for an undisclosed sum, will also see Oyster CEO Vilash Poovala become Yaydoo’s new CTO.
SMB lender Kapitus taps Mambu for its cloud banking platform
The firm will leverage Mambu’s low-code lending engine to power new financing products.
Dutch fintech start-up Floryn lands €65m from NatWest
Floryn claims it has provided more than €650 million in financing since inception.
Capital on Tap secures £100m credit facility to support SMEs
The facility will be used to build out a central finance hub for small business owners in the UK and US.
Crowdz to integrate open banking-powered payments with GoCardless partnership
Crowdz will implement three GoCardless open banking-powered payment features across four markets.
Shoreline Credit Union partners VizyPay for small business payment services
Shoreline Credit Union will refer its commercial members to VizyPay for specialised payments solutions.
HealRWorld set to launch first UN SDG-focused corporate debit card
The debit card, launching soon, aims to reward sustainable businesses.
Funding Circle names Greig McEwan as new CTO
McEwan most recently served as CTO at European freight-forwarding firm Sennder.
Deutsche Bank partners Fiserv to launch SME payments and banking solution Vert
Vert is a payment acceptance and banking services solution for SMEs.
Crypto-powered banking platform BVNK secures Spanish digital asset registration
BVNK is looking to expand across the European Union and beyond.
US-based card start-up Mercantile launches with $22m in hand
With the fresh funding, Mercantile plans to further its product development, build partnerships and expand its teams.
ICYMI fintech funding round-up: Ayoconnect and Tugende
The ICYMI round-up brings to you the latest funding news from around the world, every week.
Bank North sells lending business to LHV UK as it winds down operations
LHV UK’s parent, Estonian banking group LHV, is also an investor in Bank North.
MarketFinance nets £30m credit facility from Israeli investment group Viola
Viola had previously invested £75 million in the company to support its entry into the business loans segment.
OakNorth Bank buys 50% stake in specialist lender ASK Partners
Both firms say the transaction will enable them to continue providing “holistic” funding solutions to customers.
Airwallex bags another $100m in Series E extension, valuation remains unchanged
The extension round brings Airwallex’s total funding to more than $900 million.
UAE fintech start-up Mamo receives regulatory approval
Mamo can now provide money services and expand operations without user restrictions.
BankiFi partners with Axiom Bank for improved SMB offering
Through the partnership, the bank’s SMB customers will be able to “better” track and manage their finances.
Nymbus and Saint Louis Bank partner to launch banking service for lawyers
The new banking brand will focus on the law firms and legal community in the US Midwest.
Payment Systems Regulator outlines card-acquiring market remedies
Focusing on 14 providers will ensure “around 95% of transactions for the merchants our remedies will protect will be regulated”.
Banking Technology Magazine October 2022 issue out now
Cover story: INVESTING IN THE FUTURE – Putting money in the right places.
