US fintech funding round-up: StellarFi, Stratyfy, Beam and more
A handy round-up of the recent funding endeavours of fintech companies across the US.
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US challenger Varo Bank names Sachin Shetty as new CTO
Shetty will be responsible for developing Varo’s technology stack as the bank looks to scale.
FinTech Futures: Top five stories of the week – 31 March 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Sustainable investment fintech Clim8 shutters
Clim8 says it has been unable to secure further venture capital to fund the business.
Mizuho and Line call off plans to launch mobile bank in Japan
Both firms say dissolution and liquidation proceedings of the mobile bank project will now go ahead.
ICYMI fintech funding round-up: Toku, Finverity, Lumiant and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
The Co-operative Bank partners Onfido for customer onboarding solution
Onfido’s solution allows The Co-operative to meet regulatory requirements and customer preferences.
Seattle Bank partners LoanStar for embedded consumer lending solution
Seattle Bank customers can now access loans for high-value transactions directly through merchants.
Fraud and risk detection start-up Oscilar launches from stealth
The start-up has been self-funded by its co-founders, with $20 million in capital.
Blockchain-based BaaS provider Scallop partners tell.money for open banking compliance
Scallop will utilise tell.money’s gateway service to ensure PSD2 open banking compliance.
Climate-focused fintech for farmers Agreena lands €46m Series B funding
The fresh funding comes a year after the company raised €20 million in its Series A round.
Vemanti taps Finastra to power new SME neobank in Southeast Asia
Vemanti will deploy Finastra’s Fusion Essence solution, with plans to launch initially in Vietnam.
Pakistan’s latest digital bank HugoBank names Atyab Tahir as CEO
Tahir brings more than 20 years of experience to the newly founded digital bank.
New York fintech Spiral secures $28m Series A funding
The company will use the funding to launch its Impact-as-a-Service platform.
UK fintech Paytrix lands $18.3m in Series A funding round
The Series A follows a pre-seed funding round held last year, when it raised £5 million.
Syndicated loan platform Versana bags $40m in equity capital
Deutsche Bank, Morgan Stanley, US Bancorp and Wells Fargo have all invested capital.
Saudi EXIM Bank goes live on Temenos core
The implementation process and the go-live took place over six months, both firms say.
Zenus Bank acquires FUEX Payments for undisclosed sum
Founded last year and based in Puerto Rico, FUEX Payments operates in the Caribbean and Latin American markets.
Apple launches BNPL offering Apple Pay Later in the US
Apple has launched a pre-release version of its BNPL offering to a select number of customers.
Sergio Ermotti returns to UBS as group CEO to help manage Credit Suisse takeover
Ermotti was previously group CEO of UBS for nine years between 2011 and 2020.
Askari Bank taps BPC for credit card and fraud management tech
The deployment of BPC’s solutions will support Askari Bank with its ongoing expansion.
Crypto exchange OKX readies for Hong Kong launch
OKX sees “immense potential” in Hong Kong and is committed to building out the local ecosystem.
FCA appoints two new joint executive directors for enforcement
Therese Chambers and Steve Smart will work as joint executive directors of enforcement and market oversight.
Qashio taps Alinma Bank to launch operations in Saudi Arabia
According to both firms, the partnership is the first between a bank and a fintech in Saudi Arabia.
US CFTC files lawsuit against Binance and CEO
The CFTC has accused Binance of “numerous violations” of the Commodity Exchange Act and CFTC regulations.
Thunes bags $30m from Marshall Wace as part of Series C funding
The funding was disclosed in a recent filing with Singapore’s Accounting and Corporate Regulatory Authority.
Visa and Mastercard reportedly in talks to acquire Pismo
Visa has reportedly submitted a bid of $1.4bn after an initial offer of $1bn was rejected by Pismo.
Ingenico acquires smartphone payment acceptance fintech Phos
Phos enables merchants to accept payments directly from NFC-enabled Android devices.
Griffin hires new CFO and CRO to bolster leadership team
Chad Ryan joins as chief financial officer and Dora Grant as chief risk officer.
UK paytech Equals Group eyes European expansion with Oonex acquisition
The firm plans to roll out its business payments, expense management and current account products throughout Europe.
Kiatnakin Phatra Securities taps Temenos for wealth management tech
The Thailand-based wealth management firm will deploy the Swiss vendor’s Temenos Wealth solution.
Cartoon: Hype cycle
A new cartoon illustrating the growing hype surrounding generative AI.
Saudi National Bank chairman resigns following Credit Suisse losses
Saudi National Bank was the largest shareholder in Credit Suisse before it was taken over by UBS.
First Citizens Bank strikes deal with FDIC to buy Silicon Valley Bank assets
The deal includes the purchase of assets of $110bn, deposits of $56bn and $72bn of SVB’s loans.
FCA outlines expectations for payment firms’ customer protections
It says many firms present “an unacceptable risk of harm” to their customers.
eToro raises $250m at $3.5bn valuation after nixing SPAC
The funding stems from an Advance Investment Agreement (AIA) which eToro entered into in February 2021.
UK fintech Sibstar launches to help people with dementia manage their spending
Sibstar has launched in the UK in partnership with Alzheimer’s Society and Mastercard.
State Street to acquire CF Global Trading for undisclosed sum
The acquisition is expected to be completed by the end of this year subject to customary closing conditions.
FinTech Futures: Top five stories of the week – 24 March 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
JP Morgan to pilot biometric payments in the US
If the pilot is successful, JP Morgan intends for a wider rollout to US merchants in 2024.
