US proptech Setpoint lands $43m Series A
The round, led by Andreessen Horowitz, saw participation from Stonecroft, 75andSunny and Fifth Wall, among others.
Lending
Sunbit lands $250m debt facility to expand access to credit
The revolving debt facility is being provided by Credit Suisse and Waterfall Asset Management.
Challenger bank Tonik acquires paytech firm TendoPay
Through the acquisition, Tonik aims to augment its lending portfolio.
Financial super-app Curve lands $1bn credit facility from Credit Suisse
The firm plans to scale its lending business Curve Flex across the UK, EU and US.
Intuit snaps up credit building start-up SeedFi
The deal will see SeedFi become part of Intuit’s Credit Karma business.
SME challenger bank Allica bags £100m Series C funding
Allica says the cash will allow it to “scale rapidly and accelerate its disruptive impact in the UK SME market”.
Hodge Bank taps LexisNexis to streamline customer onboarding
The Cardiff-based lending and savings provider will deploy LexisNexis’ RiskNarrative platform.
Indian lendtech KreditBee bags $80m in Series D funding round
KreditBee says it will use the fresh funds to diversify its product offering and strengthen its tech stack.
FinTech Futures: Top five stories of the week – 2 December 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
India’s Cred set to acquire SaaS start-up CreditVidya
Following the acquisition, Cred and CreditVidya will continue to operate independently.
Singapore fintech Finbots.ai signs digital bank client in Asia
The firm has signed up Mongolia’s first neobank, M bank, to help build out its digital lending business.
UK BNPL fintech Zilch reportedly planning to lay off around 10% of its workforce
According to The Evening Standard, Zilch is planning a restructuring that could see dozens of jobs cut.
Four trends impacting bill payments: how to reduce risk while making them work for you
Serving your customers respectfully and effectively is especially important in times of economic uncertainty.
Atom Bank lands £30m funding to boost lending and fuel growth
The new cash means the Durham-based challenger bank has now raised £105 million over 2022.
Kenya’s DeltaPay taps Provenir for data and risk decisioning platform
DeltaPay leverages alternative data to expand financial access to affordable consumer credit.
Pipe seeks veteran CEO amid leadership shake-up
Pipe’s three co-founders are all set to move into new positions at the firm.
SaaS start-up Taktile lands $20m to boost US expansion
The firm claims it has seen “rapid growth” in the US and has tripled its revenues over the last 12 months.
What the FinTech? | S.3 Episode 17 | What’s next for BNPL?
In this episode of the podcast, we’re joined by Gaurav Sethi, chief product and strategy officer for Citizens Pay.
Hong Kong’s WeLab considers new funding round
According to Bloomberg, the fintech firm is valued at around $2 billion.
UK fintech funding round-up: Banked, Boodil and AGAM
A handy round-up of the recent funding endeavours of fintech companies, this week, based in the UK.
Fintech mortgage lender Gen H secures £600m partnership with The Nottingham
The funding will enable Gen H to speed up the rollout of its mortgage products.
Indian lendtech start-up Lentra raises $60m in Series B round
The money will go towards Lentra’s international expansion and acquisitions.
Divido appoints new chief product officer, Gareth Lloyd-Owen
Lloyd-Owen joins from home lending platform Roostify, where he was most recently VP of product.
Egypt’s Banque Misr lands $160m from the African Development Bank to finance SMEs
The loan consists of a $130m credit facility and $30m from the Africa Growing Together Fund (AGTF).
Video: Inscribe at Money20/20 USA – Automating KYC/KYB and underwriting processes
We chat with Inscribe’s Ronan Burke about the benefits of KYC/KYB and underwriting automation.
Travel BNPL fintech Fly Now Pay Later hires Georgios Gionis as CPO
AT FNPL, Gionis will be tasked with expanding the product offering at the firm, building out its R&D arm.
Egyptian consumer credit start-up Blnk lands $32m in funding
Blnk’s lending platform enables merchants to underwrite and finance customers’ purchases at the point of sale.
MeridianLink acquires mortgage software solutions provider OpenClose
MeridianLink says the deal will enable their customers “to deliver fast, frictionless mortgage lending experiences”.
Brazil’s Agrolend lands $27m Series B funding
The start-up provides Brazilian farmers access to credit through a mobile-first platform.
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.
Lendtech Ezra appoints Erwan Gelebart as new CEO
Gelebart has spent the past 14 years working for digital financial services firms across Africa and Asia.
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.
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.
UK lendtech start-up Plend lands £40m in seed funding
The seed round saw participation from the founders of Monzo, Starling Bank and Oodle Car Finance.
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.
National Bank of Pakistan taps Finastra for trade finance solution
The bank will deploy Finastra’s end-to-end working capital solution, Fusion Trade Innovation.
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”.
Credit Karma pauses “almost all new hiring” citing revenue challenges
The firm has made the decision “due to the uncertainty of the macroeconomic environment”.
Cartoon: Slow cooking
This new cartoon illustrates how start-ups shifting to venture debt as a model to raise cash are storing up trouble.
Women in fintech drive the lending industry’s digital transformation
As banking goes increasingly digital, many women fintech leaders are in the vanguard of this evolution.
