welcome to Fintech Times Biweekly news roundup for Tuesday, July 4, 2023.
Financing and investment
digital bank Tandem raised £20 million of Tier 2 capital from Quiram capital. The funding was completed in late June 2023 following a process assisted by financial services advisors. Alantra. Tandem says the capital will give additional impetus to its green lending proposals and enable it to take advantage of exciting growth opportunities.
Budeo has raised a further €7.5 million to accelerate its international expansion and strengthen its position across Europe and Latin America.New funding came from new investors Armiller, Horrard, Center for Industrial Technology Development (CDTI),dÍope Ventures. Existing investors K Fund and Blackfin also participated.
Wealth Tech Platform Six Months After Initial Funding seed investor Added more capital and new patrons blank ventures. This seed extension round brings Seeds’ total funding to date to $4.7 million.Existing backers also participated in this round social leverage and Composite Capital Fund I. Seeds will use this funding to evolve the product faster.
UK Digital Bank crew closes its B+ funding target of £15m to support above-expected growth, reaching 100,000 individual checking accounts. This latest funding round is part of Digital Challenger Bank’s rapid growth trajectory, which launched its flagship checking account in December 2022.
citizen, Appointed provider of payment services to the iGaming industry Dr. Toby Sucharov Take on the role of Chief Technology Officer. He was previously Head of UK Innovation at Playtech and Head of Games as a Service his platform. At Citizen, he will apply his skills to help businesses across sectors and geographies implement and optimize Citizen’s account-to-account payment solutions.
clear course, Software and payments provider for UK small businesses, name nathan best as Chief Operating Officer. He oversees all commercial functions and guides the portfolio of businesses based on industry best practices.Optimal participation from global SaaS platforms Explo Technologies, There he directed the UK and European business. Prior to this, Nathan held senior leadership positions at the following companies: Travelex, Western Union and link group.
very appoint Anthony Plotneck He leads the recently integrated Private Asset and Capital Management (PACM) team within the company’s Insurance Consulting and Technology (ICT) business. Prior to joining WTW, he held senior-level roles as Head of Capital Management Projects at Just Group and as a Capital Management Actuary at Retirement Advantage/Canada Life.
illegal bank, Italian high-tech banking group adds two new employees. Fabio Bianchini has been appointed head of the b-ilty division, a digital bank specializing in credit and financial services for businesses with turnover between €15m and €200m. in the meantime, Paolo Piovini Appointed Chief Loan Officer in charge of credit evaluation.
marigold & company appoint Ian Gus as Chief Product Officer. His appointment follows the recent US release of his fintech app for Marygold & Co Mobile. Gus will oversee the development of the app for the UK market, which is expected to launch in 2024.
Cambridge Trust Expanded relationship banking team to support the growing needs of current and new business customers.Jason Rich, Ellen Soucie, Jerrod Colley and Edson Bueno He brings an average of over 22 years of experience to Cambridge Trust’s business and commercial banking expertise in New England.
working capital provider fast payment appointed Chang Burke As Regional Director for Midland. Virk will be responsible for the continued growth of his Accelerated Payments in Midland and will support his debt advisory, brokerage and private equity communities.
PleoDanish business spending fintech has expanded its partnership with Yapiri, We are expanding our open banking infrastructure platform to Europe and adopting Variable Recurring Payments (VRP) to automate account replenishment. In September 2022, Pleo partnered with his Yapily to create an instant payment experience for the finance team to top up Pleo wallets.
cushion partner with link group To “provide a unified, robust and innovative customer experience to all of Cushon’s clients and members”. This multi-year agreement extends the partnership between Link Group and Cushon to provide service solutions to members.
DNB, a Norwegian financial services group, and agent, Proxymity, a digital investor communications platform, has announced a strategic partnership to bring Proxymity’s Shareholder Insights service to the Norwegian market on the first day of the Shareholder Rights Directive II coming into force. By partnering with Proxymity, DNB “underlines its commitment to leveraging advanced technology to meet evolving regulatory requirements.”
Consumer fintech salmon entered into a new partnership with vans philippines, Enable customers to purchase Vans Off the Wall shoes using point-of-sale financing. Under this new partnership, Salmon has begun offering services at select Buns stores in Metro Manila, and the near future will include all 33 of his active Buns stores in the Philippines.
Insurtech Quover Partnership with UK Digital Bank Monzo We provide a customized travel insurance solution accessible to UK Monzo premium account holders. The program is coordinated and underwritten by Qover using an embedded insurance orchestration platform. Zurich insurance.
Cytra, a digital risk processing platform; and hyperexponential, We partner with pricing intelligence firms to provide commercial insurers with a more streamlined and informed understanding of risk. The move will improve underwriting decisions as pricing is driven by real-time data, driving profitable growth.
FinastraFinancial software application and marketplace provider announced: Melton Architects Association chose a SaaS solution to provide the agility it needed to digitally transform its operations and rapidly implement new services. With the essence of Finastra, Melton Building Society automates core processes and opens up new avenues for business growth.
of Bank of Papua New Guinea (BPNG) We partner with network analytics specialists FNA Monitor intraday liquidity and understand systemic risk. BPNG’s newly formed Payments Supervision, Compliance and Surveillance Office will use FNA’s technology to better understand liquidity and risk within RTGS payment systems.
Caseis Subsidiary of Company CEdit Agricole Group and Santander, and Royal Bank of Canada (RBC) has completed the sale by RBC and the purchase by CACEIS of the European asset servicing activities of RBC Investors Service and its related Center of Excellence in Malaysia. The transaction has received all necessary regulatory and antitrust approvals.
side trade entered into an agreement to acquire the entire business of CreditPoint software, a provider of real-time B2B credit risk management solutions. SideTrade is funding the transaction through cash positions totaling €36 million (€12 million in treasury shares) as of 30 June 2023.
ID now, The European identity verification platform provider has achieved ISO 27001 certification. This latest certification ensures that all organizations in the group that build and operate solutions are fully certified against this scheme. ISO/IEC 27001 is an internationally recognized security standard for certifying information security management systems (ISMS).
Inpay, The international payments company has obtained an Electronic Money Institution (EMI) license from the Danish Financial Supervisory Authority (FSA), making it the first Scandinavian fintech company to combine EMI, PSP and TPP. This new license will allow the company to issue electronic money, facilitate payment services such as digital payments and remittances, which will be a breakthrough for the company’s business.
EverlyGlobal financial technology company and FX risk management specialist has expanded its local collection accounts to Singapore, enabling clients anywhere in the world to collect Singapore dollars like a local. . In addition to Singapore, the customer has AUD, BGN, CAD, EUR, HKD, CNY (Hong Kong), GBP,
NZD, PLN, USD.