Appian awarded $2bn in damages in trade secrets lawsuit
Appian believes the $2 billion judgement is the largest award in Virginia state court history.
North America
Wealthtech TIFIN doubles valuation with $109m Series D
Global investment manager Franklin Resources and fintech-focused investment firm Motive Partners participated.
New York’s Solidus Labs bags $45m in Series B round
Solidus Labs enables safer crypto trading across centralised and DeFi markets through its solutions.
Embedded payments platform Infinicept raises $23m to boost growth
The round was led by SVB Financial Group and Piper Sandler Merchant Banking.
ICYMI funding round-up: Sudozi, Mentum, Assetplus, Multipl & Akuvo
Our weekly fintech round-up for you to get the latest funding news from around the world.
Credit card platform Deserve secures $250m credit facility
The new facility follows a $50 million Series D raise in October 2021.
US Consumer Financial Protection Bureau fines Bank of America $10m for illegal garnishments
The CFPB alleges BofA unlawfully garnished at least 3,700 out-of-state accounts since August 2021.
US Bank partners fintech LiquidX to speed up supply chain transactions
The collaboration seeks to address supply chain financing friction and cashflow challenges.
Crypto firm Talos bags $105m from investors including Citi, Wells Fargo and BNY Mellon
Existing investors Andreessen Horowitz, PayPal and Fidelity also took part in the round.
Thoma Bravo reportedly in takeover talks with Temenos
According to Bloomberg, Thoma Bravo has held initial takeover talks with the Swiss banking software provider.
Ohio’s KeyBank acquires Philly fintech firm GradFin
Founded in 2015, GradFin offers advisory solutions for people wanting assistance with their student loan debt.
New small business payments platform Hopscotch seeks to make invoicing hassle-free
Hopscotch, founded in June 2021, has raised nearly $10m from 12 investors.
US fintech MainStreet lays off 30% of employees
CEO Doug Ludlow cites “today’s incredibly rough market” as the reason for the layoffs.
LexisNexis acquires anti-fraud behavioural biometrics firm BehavioSec
BehavioSec tracks mobile touchscreen signals to continuously authenticate identity and prevent fraud.
Developer infrastructure bank Column launches to cut middleware bloat
Column is the only nationally chartered developer infrastructure bank in the US.
Apple invests $25m to help underserved communities via fintech platform CNote
CNote has already started moving Apple’s money into the communities through its platform.
US healthcare fintech Walnut raises $110m in Series A round
The round comprises of $10 million in equity financing and $100 million in debt financing.
Teen financial literacy app Wingocard shuts down
The Montreal-based fintech was founded in January 2020 and launched in May 2021.
ConnectOne Bank partners Nymbus to offer digital business banking
ConnectOne plans to launch the new digital business banking vertical by the end of the year.
Canada’s Neo Financial hits unicorn status with $145m Series C raise
The round was led by Valar Ventures, with new and existing investors also participating.
FinTech Futures: Top five stories of the week – 6 May 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Latin American Bitcoin rewards credit card provider YoCripto readies for launch
YoCripto is on a mission to be the first in Latin America to offer a credit card with Bitcoin rewards.
Deloitte hires Bob Savino to offer new BaaS solution for financial institutions
Savino will head up a fintech start-up team as the consultancy looks to bring a new BaaS solution to market.
ICYMI funding round-up: Estateguru, SaaScada, tell.money, Cheq, GMEX & Bluezone
A handy round-up of the recent funding endeavours of fintech companies across the globe.
First Bank partners Finzly to offer payments services to business customers
First Bank says Finzly’s Payment Hub “gives us the speed and agility to offer a fintech-like payment experience”.
EU Commission blasts anti-competitive Apple for lack of third party NFC access
The EU Commission claims Apple has violated anti-trust rules for the benefit of its own Apple Pay.
LatAm SME financial services platform Xepelin raises $111m Series B
The company operates in Mexico and Chile and has more than 450 employees spread throughout LatAm.
First United Bank & Trust taps Finotta for personalised mobile banking
First United says the partnership will support its “vision to elevate 10 million lives by the year 2030”.
Truist snaps up Gen Z-focused personal finance app Long Game
Under the deal, Long Game’s engineers, designers and business leaders will join Truist’s innovation team.
NLP platform for financial services Accern raises $20m
Accern CEO says: “With this funding, we will scale sales and marketing to empower more citizen data scientists.”
Co-branded credit card platform Concerto launches with $21m funding
The early-stage round was led by Matrix Partners and saw participation from PayPal Ventures.
Rewards platform Kard secures $23m in Series A funding round
The new funds will be used to expand its merchant network and product offering.
California fintech Point secures $115m Series C to accelerate growth
Point enables homeowners to unlock equity from their homes.
Another brick in the wall: how Bloom is helping teens build financial literacy skills
Bloom enables teenagers to start building wealth by investing in the stock market and learning about finances.
North America fintech funding round-up: CoreChain, OneVest & Crowdz
This week’s funding round-up includes three North American fintechs – CoreChain, OneVest & Crowdz.
CFPB invokes “largely unused” Dodd-Frank law to scrutinise fintechs
“This authority gives us critical agility to move as quickly as the market,” CFPB director Rohit Chopra says.
Fintech app for teens Copper secures $29m Series A
The latest round takes Copper’s total capital raised to date to $42.3 million.
US challenger Cogni lands $23m in Series A funding
Cogni claims to be focused on bridging the gap between Web2 and Web3 capabilities.
Robinhood announces layoffs, sheds 9% of full-time workforce
CEO Vlad Tenev cites duplicate roles and job functions and “more layers and complexity than are optimal”.
US paytech Choice brings on Nexa Equity as majority investor, acquires DPC
Nexa Equity aims to scale Choice through both “organic initiatives” and strategic acquisitions such as DPC.
