ICYMI fintech funding round-up: Datricks, PastPay, LineLeap, Kompasbank and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
News
US regulator OCC orders Wells Fargo to shore up AML and risk management procedures
The OCC has barred Wells Fargo from expanding into medium-to-high risk products and geographies without prior approval.
KORT Payments takes over POS provider Barnet Technologies to drive “aggressive expansion”
Barnet provides POS systems for cannabis dispensaries and liquor stores across Canada.
Affinity Plus FCU signs Lumin Digital for online and mobile banking revamp
The platform will deliver spending insights, financial guidance, fraud protection, and other features to members.
Mastercard puts down $2.65bn for AI-powered threat intelligence platform Recorded Future
Insight Partners first acquired the platform in 2019 for $780 million.
Syndicated loan platform Versana raises $26m with plans for global expansion
New York-based Versana has picked up British banking heavyweight Barclays as a new investor.
UAE challenger Ruya Bank partners Network International for digital payment capabilities
Ruya Bank entered the market this year with a suite of Shariah-compliant retail banking services.
FE fundinfo buys out investment research platform AdviserAsset
FE fundinfo is to integrate AdviserAsset as a research and selection module.
India’s FlexiLoans bags $34.5m Series C for lending platform expansion
The platform has now raised $76.6 million in equity and over $240.9 million in debt to date.
Westpac promotes Anthony Miller to CEO amid Peter King’s departure
Current CEO Peter King is preparing to end his 30-year tenure at the bank.
Paymob secures $22m Series B extension to continue GCC roll-out
The Cairo-based paytech has now raised $72 million in Series B funding.
Webinar | 23 October 2024 | GenAI in financial services – balancing innovation and risk for transformative growth
Join us for an insightful webinar on the transformative power of GenAI for financial firms.
Payment processor Clowd9 hires former Thredd tech lead Paul Hansford as new CTO
Hansford previously headed technology at Clowd9’s “distinguished competitor” Thredd.
UniCredit buys 9% stake in Commerzbank as German government looks to offload shareholding
Of the stake, 4.49% was purchased from the Federal Republic of Germany for $775 million.
LendInvest extends JP Morgan debt financing agreement to £1.5bn
LendInvest now claims £4.55 billion in funds under management.
Enfuce to launch dual-function E2 card in UK, France and Germany with Mastercard
E2 combines both debit and credit primary account numbers into one card.
Demystify Podcast: Demystifying the use of GenAI for customer propositions with Uday Akkaraju of Bond.AI
Uday Akkaraju demystifies the use of AI to bridge the gap between consumers and financial institutions.
Form3 bags $60m Series C extension with new investor British Patient Capital
Form3 previously closed a $160 million Series C in 2021 and received an investment from Visa in 2023.
Mansfield Building Society in core banking tech overhaul with TCS
Mansfield has selected the vendor’s TCS Bancs and Digital Home Lending solutions.
Vision Bank launches digital banking app in Saudi Arabia
The Vision Bank app is currently available to customers on an invite-only basis.
Ignacio Juliá leaves ING to become Santander Spain CEO
Juliá succeeds the position from Ángel Rivera, who will leave Santander at the end of 2024.
Financial management software provider to SMEs, Finally, raises $50m equity and $150m debt
Florida-based Finally plans to expand its AI-powered business payments platform across the US.
Mortgage tech firm Twenty7tec plots UK expansion and acquisitions with £16.5m BGF investment
BGF has appointed Angela Williams and Duncan Wade to the Twenty7tec board.
Ireland-based paytech CleverCards hires former Edenred exec Ray Brash as COO
Ireland-based paytech CleverCards enables corporates to pay their consumers, employees, and vendors with virtual cards.
The Bank of London bags £42m funding round after reportedly being hit with HMRC winding-up petition
HMRC issues winding-up petitions when a company can’t pay its debts.
Fneek launches in France to “formalise friendly loans”
Founded by CEO Chaker Boughanbouz, the start-up is now seeking seed funding.
Judo Bank migrates lending business to Thought Machine’s Vault Core
The migration to the cloud-based core banking platform has been underway since last year.
Nationwide Building Society taps Red Hat for new Business Integration Platform
Nationwide is preparing to migrate critical production workloads to the cloud within the next year.
LLM-powered compliance platform Sedric AI secures $18.5m Series A
Amex Ventures joined the round as a new investor.
Switzerland’s Zürcher Kantonalbank deploys new digital asset platform with Avaloq and Fireblocks
ZKB clients will now be able to trade, manage and store both traditional and digital assets.
FinTech Futures: Top five news stories of the week – 6 September 2024
Our pick of the top fintech news stories this week includes Mastercard, Paylocity, Tarabut and more.
ICYMI fintech funding round-up: Helicap, Cercli, 3forge and Palm
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Alternative investment platform CAIS hires Kan Kotecha as CTO
Kotecha will lead the CAIS engineering team in “building a unified operating system”.
Ghana’s Fido raises $30 million in debt and equity to extend AI-powered lending services across Africa
The fintech will use the funding to expand its reach and product offering.
Visa prepares for 2025 launch of Visa A2A in UK
Visa A2A features a formal dispute resolution process and easier-to-manage payment permissions.
Home equity fintech Unlock bags $30m Series B funding
The start-up has also secured a $250 million capital commitment from D2 to support its origination growth.
Lloyds Bank taps Cleareye.ai to streamline trade finance documentation processing
The bank will implement its new partner’s ClearTrade technology from this month.
Swiss fintech Yapeal unveils new CEO alongside fresh capital boost
Eidel succeeds Yapeal co-founder Thomas Hilgendorff, who is now transitioning to CCO.
What the FinTech? | S.5 Episode 15 | FedNow one year on – the growth of RTP in the US
In this podcast episode, we chat with Anu Somani, Head of Global Payables and Embedded Payments at US Bank.
Paylocity to acquire spend management platform Airbase for $325m
The deal is expected to close “in the first or second quarter of fiscal 2025”.
