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.
Lending
P2P lender Assetz Capital agrees £200m funding partnership with Aeon
Over the next three years, Aeon will pour the cash into SME loans arranged by Assetz Capital.
Lendflow partners Ocrolus to streamline credit decisioning
Ocrolus’ document automation technology will help Lendflow better analyse more data.
Zopa founder Giles Andrews joins Hoares as non-exec director
Andrews founded Zopa in 2004 and is currently a member of the fintech unicorn’s board.
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.
State of play: BNPL
BNPL has become one of the most divisive credit products of the modern age.
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”.
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.
Income verification platform Truework lands $50m Series C funding
Truework says the funds will support its product development and hiring plans.
CFPB investigating Goldman Sachs over credit card practices
Goldman Sachs says it is cooperating with the regulatory body.
Digital lending platform Auxmoney secures €500m to fund new loans
The financing has been provided by American multinational Citi and French investment bank Natixis.
South Africa’s TymeBank to acquire SME funding fintech Retail Capital
Retail Capital will form the foundation of an expanded business banking offering within TymeBank.
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.
Singapore-based Robocash Group appoints Natalya Ischenko as new CEO
Ischenko will take over from founder Sergey Sedov, who will remain in the position of chairman of the board.
Mansfield Building Society partners DirectID to streamline mortgage applications
Mortgage applicants can now securely provide their bank statements online via open banking.
Umba acquires 66.6% stake in Kenyan microfinance lender Daraja
The Central Bank of Kenya says the deal will “support the stability of Kenya’s microfinance banking sector”.
Growth capital firm Clearco cuts 125 jobs citing “significant” economic headwinds
Clearco founders cite rising interest rates, high inflation and e-commerce growth slowdown as factors.
Dubai BNPL firm Tabby secures $150m debt financing
The debt financing has been supplied by Atalaya Capital Management and existing investor Partners for Growth.
UK challenger Monument partners Persistent to build digital banking platform
Persistent’s “building block” approach will allow the challenger to add new SaaS components as required.
African neobank 4G Capital goes live on Mambu’s cloud banking platform
The micro and small business-focused bank is looking to scale across East Africa.
SC Ventures launches digital onboarding platform Appro in UAE
Appro is designed to reduce application times for a range of banking products from several hours to three minutes.
Dbank gears up for launch in Pakistan, secures $17.6m seed funding
The investment round was co-led by Sequoia Southeast Asia and Kleiner Perkins.
ICYMI fintech funding round-up: Wombat, Atlantic Money, Fairbanc and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Germany’s Airbank taps Klarna Kosma for open banking platform
Klarna Kosma’s open banking offering will provide Airbank access to an international network of banks.
Virgin Money to enter BNPL market this year with Slyce credit card product
Slyce has been created in partnership with Mastercard and TSYS.
New bank for public sector workers set to launch next year in the UK
The aspiring bank aims to submit its banking authorisation application by the end of this year.
Portugal’s Universo taps Mambu to expand digital financial services offering
The partnership will allow Universo to provide a “personalised end-to-end financial experience”, Mambu says.
Don’t let the doom and gloom clip your fintech’s wings
The key to managing this downturn is to focus entirely on your own circumstances.
Brazilian fintech Neon raises $80m to support credit portfolio expansion
The funding will allow the firm to expand its portfolio of credit products “in a sustainable and balanced way”.
Banking Tech Awards USA 2022 Winner: Citizens Pay – Best Innovation
What retailers need to know about buy now, pay later (BNPL).
Cartoon: Rodeo
A new cartoon by Ian Foley illustrating why fintechs should view risk management as a core competency.
FinTech Futures: Top five stories of the week – 22 July 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
TomoCredit bags $122m funding to expand product offerings
Investors include Morgan Stanley’s Next Level Fund and Mastercard.
EXL, Corridor Platforms and Oliver Wyman partner up for new risk decisioning product
The solution leverages analytics, AI and cloud to deliver “instant” credit decisions to support digital lending.
European proptech Casavo secures €400m in equity and debt funding
The Series D equity raise, led by Exor, represents Europe’s largest proptech financing to date, Casavo says.
Funding Circle hires Bruno Tavares as new VP of engineering
Tavares has more than 20 years worth of experience across technology and engineering.
BNPL firms Zip and Sezzle agree to call off proposed merger agreement
The merger was initially announced earlier this year.
Australia’s ANZ snaps up Suncorp Bank in $3.3bn deal
ANZ CEO Shayne Elliott says the acquisition is a “cornerstone investment” for the firm.
FinTech Futures: Top five stories of the week – 15 July 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
US fintech funding round-up: Finalis, Quiltt and Realfinity
A handy Friday funding round-up of US-based fintech start-ups: Finalis, Quiltt and Realfinity.
