ICYMI fintech funding round-up: Ping, Agent IQ, Atlar and more
A handy round-up of this week’s fintech funding news from around the world.
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Mexican fintech start-up Mendel bags $60m in fresh funding
Mendel will use the new funds to boost the growth of its corporate expense management platform.
Blockchain intel firm TRM Labs scores $70m expanded Series B
TRM will use the cash to invest in product development and new hires to meet growing demand for its services.
Binance nixes mooted FTX acquisition deal
In a tweet, Binance says “we have decided that we will not pursue the potential acquisition of FTX.com”.
ACI Worldwide appoints interim CEO as Odilon Almeida departs
Thomas Warsop, former non-executive chair of ACI’s board of directors, has been named interim CEO.
MeridianLink acquires mortgage software solutions provider OpenClose
MeridianLink says the deal will enable their customers “to deliver fast, frictionless mortgage lending experiences”.
Crypto infrastructure start-up Ramp raises $70m in Series B round
The Series B follows Ramp’s $52.7 million Series A round in December 2021.
Ampla Technologies acquires B2B BNPL firm Upside Financing
Ampla says the acquisition will open up a B2B BNPL market that is worth an estimated $1 trillion.
DTCC hires new chief security officer, Nashira Spencer
Spencer most recently served as chief technology officer (CTO) at Anywhere Real Estate (formerly Realogy).
Low-code platform Genesis Global hires Tej Sidhu as CTO
Sidhu will be responsible for the firm’s tech strategy, leading more than 200 developers and technologists.
Arta Finance exits stealth with more than $90m in funding
Arta raised the capital from Sequoia Capital India, Ribbit Capital, Coatue and more than 140 angel investors.
US real estate platform Prevu buys mortgage tech from shuttered Reali
With the acquisition, Prevu aims to expand its digital buying platform to include mortgage services.
TIAA agrees to sell its banking arm to suite of investors
The firm says the move will allow it to “refocus” on its retirement business.
US lender Dwight Funding bags $100m credit facility
The facility will support Dwight Funding’s growth and allow it to invest further in its proprietary technology.
US OCC to establish office of fintech next year
The OCC says it wishes to “bolster its expertise and ability to adapt to a rapidly changing banking landscape”.
Goldman, MSCI, Coin Metrics partner for digital asset taxonomy framework
Datonomy is a standardised way to help market participants view and analyse the digital assets ecosystem.
Fintechs Pleo, Chime and Chargebee cut jobs as economic uncertainty bites
The three firms join an ever-increasing list of fintechs hit by the current economic volatility and uncertainty.
Bakkt set to buy Apex Crypto in deal worth up to $200m
Bakkt is aiming to “significantly bolster” its cryptocurrency product offering and serve more clients.
FinTech Futures: Top five stories of the week – 4 November 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Huntington National Bank selects LiquidX for trade finance infrastructure
Huntington Bank says LiquidX was the “most efficient and effective” partner to help expand its trade offering.
ICYMI fintech funding round-up: Decentro, Sidekick and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
Stripe lays off 14% of staff amid challenging economic climate
The cuts to its workforce will return Stripe to its February 2022 headcount of almost 7,000 people.
Zest AI lands more than $50m in growth funding round
With the new cash, Zest AI plans on increasing access to its AI-automated credit underwriting service.
US lender Upstart cuts 140 jobs as loan demand drops
Upstart says it is “making this difficult decision for the long-term health of the company”.
MoneyGram expands Coinme partnership, launches in-app crypto service
Users across nearly all US states can now trade and store BTC, ETH and LTC in the MoneyGram app.
Credit Karma pauses “almost all new hiring” citing revenue challenges
The firm has made the decision “due to the uncertainty of the macroeconomic environment”.
New fintech start-up in the US for homeowners – Saivy
Saivy’s mobile app is in development and the start-up is currently accepting subscribers to its waitlist.
Canada’s TouchBistro bags $110m in growth funding
TouchBistro offers a tablet-based point of sale (POS) system and payments solution for restaurants.
Blockchain.com partners Visa and Marqeta to launch crypto debit card
The card is available to US residents and will be rolled out to customers in additional countries starting in 2023.
Cartoon: Slow cooking
This new cartoon illustrates how start-ups shifting to venture debt as a model to raise cash are storing up trouble.
Cover Genius lands $70m in Series D funding to boost growth
Funds will be put towards business growth and expanding its global insurance distribution platform, XCover.
Paytech Form3 lands €23m venture debt facility from Atempo Growth
The funding will enable Form3 to explore potential M&A opportunities and launch in new markets.
Swift appoints Max Mamondez as chief financial officer
Mamondez, who joins from the London Stock Exchange Group, will serve on Swift’s executive committee.
The Maries County Bank taps Jack Henry for digital transformation
Through the partnership, the bank aims to automate processes and boost efficiency and customer service.
Coremont names Balaji Krishnamurthy as new CTO
Krishnamurthy most recently served as a managing director at JP Morgan Chase.
Ashman selects nCino to power its real estate lending solution
The UK challenger will deploy nCino’s cloud-based Bank Operating System.
eToro snaps up portfolio management platform Bullsheet
Bullsheet helps eToro users keep track of stocks and analyse the risk and diversification of their portfolio.
InComm Payments buys Australian gift card provider TCN
The firm says the acquisition will boost its ability “to create personable gift card products that consumers seek”.
FinTech Futures: Top five stories of the week – 28 October 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Credit Suisse to cut 9,000 jobs, raise $4bn in capital as part of new transformation plan
CEO Ulrich Körner says the restructuring is a “historic moment for Credit Suisse”.
