Norwegian B2B paytech Two nabs €18m Series A funding
The Series A funding brings the total capital raised by the firm to €28 million.
News
Eastnets migrates Swift and sanctions screening infrastructure to Microsoft Azure
Eastnets is one of the first Swift bureaus to migrate its full infrastructure for the Americas to the cloud.
Bluestone to sell UK specialist mortgage business to Shawbrook
The deal is expected to close in Q2 2023 and the business will continue to trade under the Bluestone brand.
ASX creates dedicated CIO role to lead standalone technology division
The new CIO will be tasked with delivering the firm’s enterprise-wide technology renewal programme.
Al Busairi Bank opts for ICS Banks core banking system
The new microfinance bank will implement the ICS Banks Islamic core banking system from ICSFS.
Mastercard snaps up Swedish AI cybersecurity start-up Baffin Bay Networks
Mastercard intends to fold Baffin Bay’s automated Threat Protection tech into a global “cyber service”.
UBS buys Credit Suisse in government-backed deal
The new business entity will be worth more than $5 trillion, with invested assets worth more than $1.5 trillion.
Rippling raises $500m following collapse of banking partner SVB
The Series E values the firm at $11.25 billion, the same as the company’s Series D in May last year.
Vietnamese digital bank TNEX seeks new CEO as Bryan Carroll steps down
Carroll says he will instead take up a position on the company’s board.
Last chance to shine: PayTech Awards 2023 nominations deadline extended
The nominations deadline has been extended to 24 March 2023. Submit today!
India’s PhonePe secures additional $200m from Walmart
The fresh funding forms part of PhonePe’s ongoing fundraise of up to $1 billion in capital.
Central banks of UAE and India partner for cross-border CBDC testing
The central banks will conduct joint proof of concept and pilots of bilateral CBDC cross-border transactions.
Saudi BNPL firm Tamara lands $150m debt facility from Goldman Sachs
The receivables warehouse facility will help Tamara finance the accelerating demand for its flagship BNPL product.
SVB Financial Group files for bankruptcy protection in the US
Subsidiaries SVB Securities and SVB Capital are not included in the filing and continue to operate.
Video: FinovateEurope 2023 highlights
Take a look at our highlights video from FinovateEurope 2023 in London.
FinTech Futures: Top five stories of the week – 17 March 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
US corporate card start-up Parker secures $157m in equity and debt funding
Parker will invest in its product offering as it aims to expand across the US in 2023.
Open banking start-up Archie launches to support UK businesses
The firm claims it can enable businesses to streamline their payments and save on transaction fees.
South Africa rolls out PayShap, a new real-time digital payments service
With PayShap, consumers will have access to instant, real-time payments across participating banks.
Copper.co announces job cuts amid “strategic realignment”
Copper intends to “realign” its business to focus on its custody and prime services solutions.
ABN Amro deploys Infosys Finacle’s liquidity management solution for corporates
ABN Amro’s corporate customers can now better identify, manage, and enhance liquidity positions “on the go”.
US, European agencies seize €44m worth of BTC in crypto mixer raid
The law enforcement agencies seized seven terabytes worth of data, consisting of 1909.4 BTC.
ICYMI fintech funding round-up: Synctera, Natech, Basiq, Payabli
Our weekly fintech round-up for you to get the latest funding news from around the world.
Dominican Republic’s first neobank launches on Temenos Banking Cloud
Qik’s CEO says they chose Temenos owing to its “successful track record” across Latin America.
Trade finance industry body ITFA sets up fraud prevention working group
The group will be co-chaired by representatives from the banking sector as well as from fintech firm MonetaGo.
Stripe raises $6.5bn in funding at reduced valuation of $50bn
In March 2021, the fintech landed $600 million in funding, confirming a valuation of $95 billion.
UK Spring Budget 2023: the fintech sector reacts
FinTech Futures hears from UK business leaders on how the Spring Budget impacts the fintech sector.
BNP Paribas and Hokodo team up to launch new B2B BNPL offering
The solution will enable large corporates to provide payment alternatives to their business customers.
Swiss start-up Grow Bank aims to bring crypto and fiat currencies under one roof
Grow aims “to link the traditional banking structure with a product of the decentralised finance ecosystem”.
Consumer finance firm JIVF taps OpenWay for credit products platform
This is the first OpenWay installation of its Way4 platform on Oracle Cloud in Southeast Asia.
Crypto paytech Wirex launches multi-currency card in Australia
With one of the highest levels of crypto adoption in the world, Australia is an “important market” for Wirex.
Mexican fintech Clara secures up to $90m in debt financing
The fresh financing follows a $150 million debt facility from Goldman Sachs in August last year.
Amidst legal troubles in Kenya, Flutterwave lands two licences in Rwanda
The unicorn’s latest push in Rwanda follows its bid to expand across East Africa.
Global paytech Ingenico names Laurent Blanchard as CEO
Laurent Blanchard replaces Ingenico’s co-CEOs Gerrard Schmid and Rolf Stangl.
Digital economy paytech Tilia lands $22m, makes executive hires
The firm has appointed Brad Oberwager as CEO and Catherine Porter as chief business officer.
Anchorage Digital to cut 20% of staff as part of “strategic realignment”
Despite a “robust and growing” business, Anchorage says the cuts are a necessary part of a “strategic realignment”.
Hong Kong’s Livi Bank launches Livi Business for SMEs
Livi Business offers SMEs and entrepreneurs access to “fast, simple and personalised” financial services.
Nigerian fintech FairMoney acquires PayForce for undisclosed sum
FairMoney is looking to expand its offering to include features for merchants as well as retail customers.
Rain partners Tarabut Gateway for open banking API
Rain will make use of Tarabut’s open banking payment solutions to facilitate on and off-ramp transactions for users.
Paymentology partners Fondeadora to expand Mexican payment services
Thanks to Paymentology, the Fondeadora app will enjoy faster transaction processing and advanced security.
