Treasury Prime bags $40m in Series C funding
With the funding, Treasury Prime plans to build out its solution and develop new products and services.
USA
US lender Upstart to cut 20% of jobs in bid to return to profitability
Upstart is also suspending development of its small business loan product.
US payments platform Moov lands $45m Series B
The funding will be used to refine and scale the platform, and address new payments use cases.
Marqeta makes first M&A foray with $275m Power Finance deal
The acquisition, Marqeta’s first, will “significantly boost” the firm’s credit product capabilities.
Data management platform Finbourne lands £30m debt facility with Kreos
The debt facility constitutes an extension to Finbourne’s Series A funding held in April 2021.
Turkey’s Quick Finans taps Provenir for data and risk decisioning platform
Quick Finans selected Provenir’s tech to enhance its customer onboarding process.
Valor PayTech hires Riaz Ladha and Eric Kirk to lead new business unit
Valor CEO Eric Bernstein says the pair will help the firm build new partnerships.
Don’t click this link: how authID aims to protect you from yourself
AuthID leverages the “human factor” to remediate today’s social engineering attacks, CEO Tom Thimot says.
Marqeta appoints Simon Khalaf as new CEO
Khalaf joined in June as chief product officer and will replace founder, chair and current CEO Jason Gardner.
Departing Coinbase CPO Surojit Chatterjee reportedly made $115m at firm
Chatterjee joined Coinbase in 2020 on a five-year contract but is leaving due to family illness and bereavement.
US fraud detection start-up Inscribe raises $25m in Series B funding
With the new capital, Inscribe plans to further develop its fraud detection capabilities.
SMB financial health platform Nav acquires Nuula
Nav says the acquisition will boost its existing offerings for small businesses.
US fintech Marygold & Co names Timothy Rooney as new president
Rooney will be tasked with ensuring the successful launch of the firm’s new financial services app.
B2B BNPL platform Tranch raises $100m in debt and equity
$5 million have been raised in equity while the rest – $95 million – have been taken on as debt.
US fintech PayEm bags $220m in funding
The funding came from Viola Credit, Mitsubishi Financial Group, Collaborative Fund, and others.
US fintech DailyPay lands $260m funding to fuel growth
The company will look to boost domestic growth, expand internationally and invest in product innovation.
The BaaS Association names first CEO, Bill Briggs
Founded last year, the association says it represents over 80% of current BaaS sponsor banks in the US.
Several major US banks reportedly team up on new digital wallet project
Seven banks are working on an e-wallet linked to consumers’ debit and credit cards, The Wall Street Journal reports.
FCA greenlights Nova Credit to provide credit references for new arrivals
Nova Passport collates cross-border credit bureau data to help businesses underwrite new-to-country individuals.
US fintech nCino appoints Greg Orenstein as new CFO
Orenstein joined nCino in 2015 and most recently served as chief corporate development and strategy officer.
United Heritage Credit Union taps NCR for ATM-as-a-Service solution
The credit union will have access to the full suite of ATM capabilities offered by NCR’s ATMaaS solution.
New digital bank greenpenny opts for Jack Henry’s tech
Greenpenny is a start-up bank in the US focused on sustainable energy and powered by Decorah Bank & Trust.
Paytech start-up Link lands $20m Series A funding
The money will be used to fuel the company’s growth following the launch of its flagship LinkPay product.
Capital One lays off 1,100 tech staff
Impacted employees have reportedly been invited to apply for other positions at the firm.
US crypto lender Genesis files for Chapter 11 bankruptcy protection
The firm is restructuring its lending business to reach “the best solution for clients and other stakeholders”.
FNZ acquires wealthtech start-up YieldX
YieldX’s fixed income portfolio management technology will be integrated into FNZ’s wealth platform.
US fintechs Core10 and Union Credit secure funding
Two fintech companies in the US – Core10 and Union Credit – have reported funding this week.
Oracle Flexcube core banking system gains new takers
The banking tech vendor also signed licence fees of $27.5 million in the latest quarter.
US DoJ charges crypto exchange founder over alleged illicit fund transfers
The DoJ alleges Bitzlato processed more than $700m in illicit funds.
US fintech Arcus Partners appoints new CTO, Saurabh Bhole
Bhole will be tasked with leading the further development of the company’s Finity360 product suite.
SEC charges Genesis, Gemini over alleged sale of unregistered securities
The SEC alleges that the Gemini Earn program “constitutes an offer and sale of securities under applicable law”.
Payoneer names former Webster Bank exec Bea Ordonez as next CFO
Ordonez will assume the role of CFO once current CFO Michael Levine steps down in March.
Abacus Group snaps up cybersecurity firms Gotham Security and GoVanguard
The new business will be a subsidiary of Abacus Group but will continue to operate independently.
LendingClub to cut 225 jobs as interest rate rises impact loan demand
Company execs say the layoffs are a result of “reduced marketplace revenue” due to interest rate increases.
Get recognition at this year’s Banking Tech Awards USA
Nominations for the 2023 awards are now open – apply today!
Goldman Sachs loses $3bn over three years on platform solutions business
Reuters reports the firm outlined a pre-tax loss of $1.2bn for the first nine months of 2022.
How Drip Capital is simplifying trade financing for SMBs in emerging markets
FinTech Futures chats with Pushkar Mukewar, founder and CEO of Indian fintech Drip Capital.
Pagaya buys Darwin Homes to capitalise on rental market
Post-acquisition, Pagaya and Darwin’s SFR business now operates in more than 30 markets across the US.
Crypto.com to cut 20% of workforce citing “unforeseeable industry events”
CEO Kris Marszalek says several factors have led to the decision to let go of around 800 employees.
American Express buys Israeli B2B payments automation start-up Nipendo
Amex plans to “integrate Nipendo’s team, technology and capabilities” to boost its B2B payments offerings.
