Starting small: how Nearside is trying to help create a more inclusive economy
With this rise in new small businesses comes a need for new banking services catered to these new entrepreneurs.
USA
Gen Z financial assistant app Cleo raises $80m at $500m valuation
Cleo will use the funds to shore up and expand its services as a global economic winter begins to bite.
Canada’s VersaBank acquires a Minnesota-based bank to fuel US growth
Upon closing, the bank will be renamed VersaBank USA National Association.
Blackstone to invest up to $130m in logistics paytech PayCargo
The funds will be used for international expansion and M&A.
US proptech HomeLight acquires Accept, raises $115m at $1.7bn valuation
The acquisition of Accept will make HomeLight the largest agent-focused cash offer programme in the country.
US fintech Wahed Invest to receive $50m in Series B funding
The Series B round will support the start-up’s plans to launch an ethical neobank.
Digital banking tech vendor Narmi raises $35m Series B
The fresh capital will be used to develop and accelerate the overall digitisation of the US banking industry.
Fintech Zytara partners deadmau5 to create branded banking solution
deadmau5 will join Zytara’s advisory board “to help enhance the creative direction for Zytara moving forward”.
Finzly celebrates ten years of providing innovative solutions to banks
Finzly’s user conference discussed trending topics and bank innovation outside the legacy core.
TS Banking Group in front-to-back office tech revamp with Temenos
Temenos’ front-to-back office technology will be delivered in the cloud.
Crypto firm Celsius halts withdrawals, cites “extreme market conditions”
Celsius says the pause is designed to put the firm in a “better position” to honour its withdrawal obligations in the future.
Nuula launches operations in Canada for small business owners
Nuula provides financial products and services to small business owners.
New financial planning start-up Fruitful raises $33m in funding
The rounds were led by Emigrant Bank and 8VC with participation from other investors.
Fleetcor to acquire cross-border paytech Global Reach
Fleetcor has signed a definitive agreement to acquire UK-based Global Reach Group.
Santander appoints Pierre Habis to lead digital transformation in US
Santander Bank N.A. has appointed Pierre Habis as the new chief consumer and digital transformation officer.
North America fintech funding round-up: Klasha, Proper, Manzil and more
A handy round-up of the recent funding endeavours of fintech companies across North America.
Credit unions comms platform Eltropy acquires video banking tech firm POPi/o
Together, Eltropy and POPi/o serve more than 400 credit unions in the US.
US-based paytech GTP acquired by MFS Africa
Following a $100m funding round last year, MFS Africa acquires US-based paytech GTP.
How Stilt is helping immigrants build a financially stable life in the US
FinTech Futures chats with Stilt co-founder Rohit Mittal about the firm’s aims to help immigrants in the US.
How Carefull aims to help older adults manage their finances effectively
FinTech Futures speaks with Carefull co-founder Todd Rovak about financial management for older adults.
EntreBank selects CSI’s NuPoint core banking platform
CSI will also provide EntreBank with managed IT services.
Ohio’s KeyBank appoints new tech executive
Navarro previously worked in a similar role at TD Bank.
Pagaya appoints former Barclays UK CEO as president
Ashok Vaswani, Pagaya’s new president, is a Barclays and Citibank veteran.
Crypto exchange Coinbase extends hiring pause and rescinds some job offers
The firm cites “current market conditions” as a reason behind the move.
US fintech funding round-up: Pebble, Arteria, Hardbacon & Digital Asset
A handy round-up of the recent funding endeavours of fintech companies across North America.
US-based Payoneer appoints John Caplan as co-CEO
Founded in 2005, Payoneer enables “borderless payments and growth” for digital businesses.
Payments fintech Bolt announces layoffs
The news follows a string of layoffs in the fintech space in recent weeks.
North America fintech funding round-up: equipifi, PayEngine & Moves
A handy round-up of the recent funding endeavours of fintech companies across North America.
iCapital expands its platform with Simon Markets acquisition
The deal is expected to close in the second half of 2022 pending regulatory approvals.
Capital markets fintech Clear Street lands $165m in Series B funding
The new funding takes the company’s valuation up to $1.7 billion.
Card-issuing platform Marqeta partners Evolve Bank & Trust
Evolve will support the full range of Marqeta’s card programme management capabilities.
Payments infrastructure provider Paddle snaps up ProfitWell for $200m
Paddle will integrate ProfitWell’s financial metrics, as well as its pricing and retention software.
Two US banks tap fintech Chimney to boost customer engagement
New York-based Chimney’s financial calculators help customers make “smarter” financial decisions.
US fintech Caribou lands $115m Series C at $1.1bn valuation
Caribou will use the new funding to invest in its platform, expand its team and develop new products.
Finance super-app M1 deploys Thought Machine’s Vault Core
M1 will deploy Thought Machine’s Vault Core to launch products from one unified, coherent “source of truth”.
SpotOn bags $300m Series F at $3.6bn valuation
SpotOn has raised $928 million in funding to date.
Allegacy FCU taps enterprise tech provider NCR for data analytics solution
Allegacy FCU says partnership will “make data actionable, unlock predictive insights and drive innovation”.
Agri lender SunStream taps Fiserv for lending operations modernisation
The Minnesota-based lender will move to Fiserv to meet the complex loan servicing needs of its shareholders.
FinTech Futures: Top five stories of the week – 20 May 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
ICYMI fintech funding round-up: CertifID, Bridgecard & Forward
A handy round-up of the recent funding endeavours of fintech companies across the globe.
