Sibos 2023: Revolut Business launches new payment solution RevTags
RevTags, already available to Revolut’s retail customers, is now being rolled out to its business customers globally.
Business-to-Business/B2B
Flex secures $20m in equity and $100m in debt funding as part of Series A round
Along with the funding, Flex has also launched its finance app catering to underserved small business owners.
Chase Payment Solutions enlists Gusto Embedded for payroll services
Gusto says its solution allows Chase’s payroll processing to become “significantly simplified”.
Indian fintech Perfios secures $229m in Series D funding round
The funding came from Kedaara Capital, and existing backers Warburg Pincus and Bessemer Venture Partners.
ICYMI fintech funding round-up: Fipto, Form3, Immix, Emata & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Enterprise fintech Treasury4 closes Series A at $20m
The money will be spent on the development of Treasury4’s Entity4 and Cash4 solutions and also partnerships.
Risk management platform Certa’s twice-oversubscribed Series B raises $35m
The round was led by Fin Capital and Vertex Ventures Southeast Asia and India.
FundBank taps Profile Software for its custody solution
FundBank will automate its custody and portfolio management operations with Profile’s Axia Custody solution.
iBanFirst appoints former SocGen strategist Julien Molez as COO
Molez previously served as head of data and AI strategy for Société Générale from 2019 to 2023.
US Bank and subsidiary Elavon launch new POS solution for small businesses
The solution seeks to help small business owners avoid making a “large upfront investment”.
JP Morgan Chase increases stake in Brazilian digital bank C6 to 46%
The US bank first bought a stake in C6 in June 2021.
MoonPay creates new venture division to fund early-stage start-ups
MoonPay Ventures will focus on early-stage fintechs and Web3-focused start-ups.
PandaDoc buys Denario for consolidated document and payment workflow offering
PandaDoc clients can now “manage, collect and report on invoices alongside their contracts, all in one location”.
Lighter Capital secures $130m in funding facilities to fuel revenue-based financing for tech firms
Lighter Capital is aiming to fund “hundreds” of early-stage technology companies.
Heather Gantt-Evans joins Marqeta as chief information security officer
US Army Reserves veteran Gantt-Evans will lead the firm’s global corporate and product security strategies.
BMO Commercial Bank taps Extend to launch corporate spend management app
BMO is the first global Mastercard issuer to offer contactless virtual cards through Extend.
The Clearing House appoints Sheffali Welch as COO
Welch brings more than 20 years of experience in banking and financial services to her new role.
ICYMI fintech funding round-up: Zanifu, Koverly, Micronotes & more
Our weekly fintech round-up for you to get the latest funding news from around the world.
Thoma Bravo acquires ForgeRock for $2.3bn
Once acquired, ForgeRock will delist its class A common stock from the New York Stock Exchange.
Citi debuts first LatAm fintech investment with stake in Peruvian FX platform Rextie
Rextie becomes Latin America’s first FX fintech to receive an investment from Citi.
FinTech Founders Video: Lawrence Lin Murata, Slope
Lawrence Lin Murata reflects on what he learnt from starting his first company and the impact on starting Slope.
Trading Technologies enhances buy-side appeal with Abel Noser Solutions acquisition
The deal is expected to close on 31 August.
US fintech Ramp secures $300m Series D funding at reduced valuation
The firm’s new $5.8bn valuation represents a 28% drop from its $8.1bn valuation back in March 2022.
SEC hands fintech investment advisor Titan $850,000 penalty for misleading clients
The SEC says the fine should serve as “a warning for all advisers to ensure compliance”.
Velo Payments to acquire payment processing platform YapStone
The acquisition is subject to regulatory approvals and customary closing conditions.
GoLogiq signs letter of intent to acquire Fram Venture 7 and SME lender DragonLend
The $6 million deal is to be completed via an all-stock transaction by September.
Adyen shares tank following underwhelming H1 2023 results
The company attributed the performance to hiring costs and US competition.
Peoples Bank taps Corserv to launch credit card programme
With Corserv, Peoples Bank will be able to offer 14 different credit card products to its business and retail customers.
FinTech Futures: Top five stories of the week – 18 August 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
ICYMI fintech funding round-up: Communion, CityPay & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Indian neobank Zolve expands into expat-friendly mobile services with telecom-as-a-service platform Gigs
Zolve’s telecom-financial offering is tailored for expats pursuing educational or professional opportunities in the US.
Splitit plans to go private for stringent $60m capital commitment
Part of the commitment requires the US BNPL vendor to redomicile to the Cayman Islands.
Cameron Fowler to serve as Early Warning’s new CEO
With more than 20 years of work experience, Fowler joins Early Warning from Canada’s BMO Financial Group.
Payroll fintech OneBlinc secures $100m credit facility with Clear Haven
The fintech landed $20 million in a Series A funding round in June 2022.
Paytech Matera acquires Brazilian AI firm Cinnecta for undisclosed sum
The acquisition will enable Matera’s clients to enhance their sales capabilities through actionable insights.
SEC brings the hatchet down on Wall Street’s bad recordkeeping with $289m in fines
The SEC has leveraged 30 enforcement actions to date against firms failing to comply with recordkeeping requirements.
Torpago confirms two new senior hires following “significant growth”
James Yacobucci has been appointed to head of bank partnerships and Noah Martin to head of capital markets.
ConnexPay appoints former PayPal exec George Hansen as chief revenue officer
Hansen joins ConnexPay from PayPal, where he served as head of global sales and account management.
Naga integrates Rezolve AI into its social trading platform
The integration is also set to extend to Naga’s e-payments solution, Naga Pay.
State of play: 2023 so far
What’s the current state of play for the financial services sector and what can we expect for the remainder of 2023?
