Getting banked: financial services and the US cannabis industry
We chat with Michael Beird of Infused Banking about how banking is changing for US cannabis businesses.
North America
North America fintech funding round-up: Syncfy, Totem and more
Our weekly fintech round-up for you to get the latest funding news from across North America.
US proptech Setpoint lands $43m Series A
The round, led by Andreessen Horowitz, saw participation from Stonecroft, 75andSunny and Fifth Wall, among others.
Avant secures $250m in debt and equity from Ares Management
Avant CEO Matt Bochenek says the funds from Ares will “further fuel our credit portfolio and next-gen platform”.
Broadridge names Martin Koopman as new chief product officer
In his new role, Koopman will head up the product management team across all of Broadridge’s business units.
Open banking fintech Plaid to cut 260 jobs
Plaid CEO Zach Perret told employees “our pace of cost growth outstripped our pace of revenue growth”.
Drata doubles valuation to $2bn following $200m Series C
The round was led by ICONIQ Growth and GGV Capital with institutional and individual investors participating.
Sunbit lands $250m debt facility to expand access to credit
The revolving debt facility is being provided by Credit Suisse and Waterfall Asset Management.
Investec taps Surecomp for its digital trade finance tech
Surecomp’s tech will support Investec’s newly formed trade finance business.
Financial super-app Curve lands $1bn credit facility from Credit Suisse
The firm plans to scale its lending business Curve Flex across the UK, EU and US.
Wells Fargo launches digital business banking platform Vantage
Vantage leverages AI and machine learning to deliver personalised financial services for businesses.
Intuit snaps up credit building start-up SeedFi
The deal will see SeedFi become part of Intuit’s Credit Karma business.
Veritex Community Bank taps Finzly to transform payments
The Texas-based bank will utilise Finzly’s Payments Hub solution.
Broadridge’s LTX appoints Jim Kwiatkowski as CEO
Jim Toffey, CEO and co-founder of LTX, will transition to the role of chairman of the board.
US fintech Teampay secures $47m in Series B funding
The fresh funding brings Teampay’s total capital raised to $65 million.
ICYMI fintech funding round-up: Buckzy, FrankieOne and Ejara
A handy round-up of the recent funding endeavours of fintech companies across the globe.
HSBC to sell its Canada business to Royal Bank of Canada for $10bn
The transaction is expected to complete in late 2023.
US challenger bank Greenwood secures $45m funding
The latest round brings the total capital raised by the challenger to $88 million to date.
White paper: FedNow is almost here!
Everything you need to know before the launch of FedNow – a new real-time payment and settlement service in the US.
Fintechs Canada launches to drive innovation in the country’s fintech sector
The not-for-profit association is looking to work with policymakers in a “whole-of-government” approach.
Ohio’s Huntington National Bank teams up with InvestCloud to launch Advisor Connect solution
The new offering is built on InvestCloud’s Find My Advisor technology.
Freedom Bank of Virginia partners Autobooks for new digital invoicing solution
The bank’s business clients can now generate professional invoices with an integrated ‘pay now’ button.
US SME banking platform Novo bags $35m in Series B extension
The new cash takes its total Series B funding to $125m following a $90m raise earlier this year.
FIS reportedly looking to cut thousands of jobs under new CEO
Bloomberg reports that the cuts to the workforce are expected to be staggered.
Q&A: How Diligent is helping companies transition to a modern back office
FinTech Futures chats with Diligent’s Lisa Edwards about the firm’s GRC and ESG solutions.
Pipe seeks veteran CEO amid leadership shake-up
Pipe’s three co-founders are all set to move into new positions at the firm.
Two suspects arrested in Estonia accused of $575m crypto fraud
Both defendants appeared in court in Tallin and are being held pending extradition to the US.
US fintech GloriFi to shut down amid “a series of financial challenges”
The firm launched its app in September offering checking and savings accounts.
Featurespace bags funding from US, UK govs to build new financial crime detection solution
Featurespace is developing an AI-powered system to help banks and PSPs detect financial crime.
SaaS start-up Taktile lands $20m to boost US expansion
The firm claims it has seen “rapid growth” in the US and has tripled its revenues over the last 12 months.
Corporate payments fintech Onbe hires new CTO, CFO to drive growth
Brent Coles joins as chief financial officer while Suresh Kumar is Onbe’s new chief technology officer.
Santander UK picks NCR to run its self-service ATM network
NCR will upgrade, connect and run Santander UK’s network of more than 1,700 ATMs.
Credit card financial inclusion fintech Mercury hires Jason Whiting as CFO
Whiting will join Mercury Financial from Barclays where he served as head of strategy for the Americas.
Visa appoints Ryan McInerney as new CEO
From February 2023, current CEO Alfred Kelly will become executive chairman of the board.
HDFC Bank taps Flywire for digital educational payments experience
The integration will provide a fully digital checkout experience for Indian students to make transactions.
US Treasury outlines fintech consumer protection recommendations
“This report lays out actions that would maintain fair, transparent, and competitive markets,” says Janet Yellen.
Tech leadership change at US Bank
Jeff von Gillern, US Bank’s vice chair of technology and operations services, will retire next year.
US banking sector launches digital asset settlement proof of concept
US banking heavyweights will explore the feasibility of a DLT-powered interoperable digital money platform.
Japanese paytech unicorn Opn acquires US firm MerchantE
Both firms will share technology and best practices, as well as jointly develop new products and services.
US fintech start-up Nirvana Money is shutting down just weeks after launch
On its website, Nirvana Money says all accounts will be closed on 1 December 2022.
