Paytech firm Elavon hires Hemlata Narasimhan as president of European operations
Narasimhan previously served as senior vice president of Visa’s merchant and acquiring business in Europe.
USA
Gravity Payments CEO Dan Price resigns, Tammi Kroll to take over
Gravity’s new CEO thanked Price for “his time forming and leading” the company.
Covalto to become Mexico’s first US-listed fintech following SPAC merger
The deal values Covalto at $547 million and will see the firm listed on the Nasdaq exchange.
eToro snaps up options trading start-up Gatsby
eToro says the acquisition is a “key step” as it looks to diversify its offering to US users.
OpenFin appoints new chief digital officer, Vicky Sanders
Sanders will drive OpenFin’s digital transformation efforts for end-users across its ecosystem.
Fintech start-up Pomelo raises $70m in seed financing
Pomelo’s investors include celebrities The Chainsmokers and The Weeknd.
BankProv and Republic partner to offer escrow accounts to capital-hungry firms
BankProv CEO Dave Mansfield says working with Republic will “expand access to new investment opportunities”.
Digital banking tech provider Bankjoy signs up UMe Credit Union
UMe members will be able to access Bankjoy’s digital banking platform, including mobile and online banking.
Remitly set to acquire Israeli fintech Rewire for $80m
The transaction is expected to close in H2 2022 subject to regulatory approvals.
Fintech start-up Arc lands $20m in Series A funding
Arc will use the funding to accelerate its growth and expand the availability of its treasury and software products.
M&T Bank hires Ishet Dhar as chief digital officer
Dhar will lead the strategy, integration and development of M&T’s digital platforms.
Paytech consultancy Focused Labs joins Stripe partner ecosystem
Focused Labs builds custom software products and integrations, including core payments infrastructure.
Former Wells Fargo, BoA private bankers launch wealth management firm Fidelis Capital
The firm brings together financial specialists with more than 200 years of collective experience.
Lendflow partners Ocrolus to streamline credit decisioning
Ocrolus’ document automation technology will help Lendflow better analyse more data.
Paytech Nium appoints Ramana Satyavarapu as new CTO
In his new role, Satyavarapu will be responsible for managing Nium’s global engineering and technology strategy.
BitGo to seek damages of $100m after Galaxy Digital terminates $1.2bn acquisition deal
The merger announcement was initially made in May 2021.
New legislative regulations are a cybersecurity game-changer for the FS industry
The SEC has proposed new cybersecurity regulations that will impact FS businesses.
New debit card fintech Seltz gears up for launch in the US
There are currently over 1,300 sign-ups for the debit card’s waitlist.
Marqeta founder and CEO Jason Gardner to step down
Gardner plans to take on the role of executive chairman once the firm hires his replacement.
Founderpath bags $145m to fund bootstrapped SaaS ventures
Founder Nathan Latka says the firm has deployed over $50m in capital over the last 12 months.
Central Payments lands $30m, spins out from Central Bank of Kansas City
The bank will continue as an investor, issuer and strategic partner.
Q&A: How Linqto is helping democratise the private investment space
Linqto’s COO Joe Endoso chats with FinTech Futures about the platform’s goals and ambitions.
Klasha names former PayPal exec Ayman Jawhar as new CPO
Jawhar’s appointment follows the recent hiring of Nile Younis as Klasha’s new chief commercial officer.
US paytech Finix lands $30m funding at increased valuation
Finix raised the capital at an increased valuation “despite the more challenging economic environment this year”.
BaaS start-up Unit partners Thread to offer embedded banking services
Unit says the collaboration with Thread will “empower more companies to offer unique banking solutions”.
Great Southern Bank selects Fiserv for core banking upgrade
The bank will utilise DNA from Fiserv as its new core processing platform.
Timberland Bank taps Plinqit for financial wellness and savings tools
Customers can now access digital tools designed to improve financial literacy and establish saving habits.
Growth capital fund Upper90 raises $180m to fuel fintech start-ups
The firm’s investment model combines credit and equity for fintech businesses that have predictable revenue.
Jack Henry snaps up Payrailz for undisclosed sum
The acquisition is expected to close on 31 August 2022.
Income verification platform Truework lands $50m Series C funding
Truework says the funds will support its product development and hiring plans.
KeyBank taps BlueSnap to facilitate cross-border e-commerce payments
KeyBank says BlueSnap’s operating model will give clients the flexibility to process global payments.
CFPB investigating Goldman Sachs over credit card practices
Goldman Sachs says it is cooperating with the regulatory body.
Valley National Bancorp invests $25m in fintech-focused VC The Garage
The Garage builds and invests in early-stage start-ups in fintech, artificial intelligence and cyber.
FTC files complaint against paytech First American over alleged “harmful practices”
Under a proposed federal court order, First American will have to return $4.9m to affected businesses.
Tax automation fintech Avalara snapped up by Vista for $8.4bn
Vista Equity Partners will acquire all outstanding shares of Avalara for $93.50 per share.
Payments veteran Steve Ledford retires, leaves The Clearing House
The self-described “payments nerd” says he is leaving the payments industry after 41 years.
Embedded finance start-up Parafin raises $60m Series B
The funding round was led by GIC, Singapore’s sovereign wealth fund.
B2B paytech Plastiq to list publicly following SPAC merger
The new entity, set to be worth $480 million, will continue to be headed up by CEO Eliot Buchanan.
US fintech funding round-up: Leapfin, Compliance.ai, Revolv3 and more
Our handy weekly fintech funding round-up covering news from US start-ups.
Paystand buys Yaydoo to expand B2B payments network across Americas
Paystand says the combined company “will redefine the boundaries of B2B fintech” across the Americas.
