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.
Business-to-Business/B2B
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?
US insurtech start-up Lula raises $35.5m Series B funding
The insurtech previously raised $18 million in its Series A funding round of July 2021.
Stripe appoints Steffan Tomlinson as CFO
Tomlinson, who joins from Confluent, brings more than 25 years of experience to his new role.
Mexican challenger Albo snaps up Delt.ai for $20m
The acquisition makes Albo “the only neobank to offer debit and credit products for both consumers and SMBs”.
Novo secures $125m credit facility to provide working capital to small businesses through Novo Funding
Once approved, small businesses will have instant access to up to $75,000 of working capital.
Stax Payments appoints Paulette Rowe as new CEO
In her new role, Rowe will be leading growth and operations for Stax’s software and payments portfolio.
Nexi buys 30% stake in German PSP Computop
Computop’s founders, Frank Arnoldt and Ralf Gladis, previously held 50% of the company’s shares each.
HSBC joins forces with Tradeshift to launch embedded finance business
The joint venture will focus on the development of embedded finance solutions and financial services apps.
Vestwell taps workplace financial wellness with Gradifi Solutions acquisition
Vestwell acquires Gradifi Solutions from Morgan Stanley, following its acquisition of E*TRADE Financial.
Machias Savings Bank taps Jack Henry for tech overhaul
It wanted a tech strategy that would help it support customers’ financial needs, while competing with big banks.
US fintech start-up Croissant launches with $24m funding
Croissant integrates into merchants’ shopping experiences to offer customers guaranteed buyback value at checkout.
Trustmi aims to stamp out B2B payment fraud with global launch
The launch comes just days after the company secured $17 million in a Series A funding round.
Trintech snaps up Fiserv’s financial reconciliation business
Trintech hopes the deal will “act as a springboard for innovation” for its accounting automation platform.
ICYMI fintech funding round-up: Anduin, Thunes, Portrait Analytics & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
The US Federal Reserve launches new instant payments system FedNow
FedNow operates in parallel with the Federal Reserve’s existing payment services, Fedwire and FedACH.
UK climate fintech Sylvera secures $57m Series B funding
The latest investment follows Sylvera’s $32 million Series A round held in January 2022.
Corelation signs three more credit unions for core processing
All three are preparing their organisations for future growth with higher member engagement.
Thredd, formerly GPS, appoints Ava Kelly as new chief product officer
Based in the US, Ava Kelly brings more than 25 years of payments industry experience to her new role.
Nav announces second acquisition of the year with start-up Tillful
In addition to the asset acquisition, many of Tillful’s employees will be joining Nav in senior roles.
FusionIQ integrates with wealth management platform Blueleaf
The integration seeks to provide wealth managers with the tools needed to boost their digital transformation.
Mexican start-up mattilda lands $19m Series A funding
The capital will be used to accelerate its growth in Mexico and fuel its international expansion plans.
Convera taps Temenos to modernise payments infrastructure
Convera will deploy Temenos’ Payments Hub solution running in the Temenos Cloud to replace its legacy systems.
US fintech start-up MerQube lands $22m Series B funding
The round was led by Intel Capital, with participation from new investor Allianz Life Ventures, and existing investors.
US accounting fintech Jirav raises $20m Series B funding
With the funds, Jirav plans to fuel product development, expand its customer base and attract new talent.
James Dixon named as new Allied Payment Network CISO
Dixon intends to “ensure fast and secure payments” and bolster Allied’s information security practices.
Citi launches new digital commercial banking platform
Citi Commercial Bank (CCB) says the new platform has been created “in close collaboration” with its clients.
Legal & General extends cloud migration agreement with Kyndryl
The new seven-year agreement is to last until 31 March 2030.
Payoneer becomes latest fintech to cut jobs
The US payments platform is to cut 9% of its workforce by Q3 2023.
Checkout.com launches AI-led ID verification solution
The company claims its new solution can identify “nearly every citizen in the world”.
FIS confirms deal to sell majority stake in Worldpay to GTCR for $11.7bn
The transaction is expected to close by Q1 2024, subject to regulatory approvals and closing conditions.
Platform One appoints former SEI operational director Terry Leavy as new COO
Leavy joins the company following a decade-long stint at US financial services firm SEI.
ICYMI fintech funding round-up: Numarics, Zuvy, Shinkansen and Chari
A handy round-up of the recent funding endeavours of fintech companies across the globe.
