UK fintech funding round-up: Bondaval, Etrading Software and Taxd
Our weekly round-up to help you get funding news of fintech companies, this time from the UK.
Europe
EY launches London-based incubator to boost UK fintech scene
The fintech lab, City AM reports, forms part of EY’s “ambitious plans” to grow its fintech business.
United Fintech snaps up FX risk and data services firm Cobalt
Cobalt is United Fintech’s fifth acquisition since launching in 2020.
Barclays to invest £500m in climate tech start-ups by 2027
Barclays says it made the decision to boost its investment following “substantial interest and demand”.
Euroclear to buy private markets fintech Goji
With the acquisition, Euroclear plans on expanding its footprint into private markets.
Bpifrance taps Thought Machine for Vault Core banking platform
Bpifrance is the first bank in France to deploy Thought Machine’s Vault Core platform.
Swiss digital lender Bob Finance selects Mambu for cloud banking platform
Bob Finance says it needed a platform “that meets internal and external partner standards”.
UK paytech Total Processing hires CCO and head of product to drive growth
Simon King joined as CCO in September while Aden Davies joins as head of product.
Mark Brant joins NatWest as chief payments officer
Brant will take up his new role at NatWest on 16 January 2023.
Bitcoin Group to buy Germany’s Bankhaus von der Heydt
The deal is expected to close in Q3 2023.
Bank of Lithuania taps Regnology for supervisory tech solutions
Regnology will help the central bank transform its data management capabilities and regulatory reporting platform.
European fintech Novicap bags €200m debt facility from Fasanara Capital
Novicap will use the funding to accelerate its growth, boost its credit portfolio and develop new solutions.
Accounting automation platform Vic.ai bags $52m Series C funding
With the new funding, Vic.ai plans to introduce a host of new features on its platform.
Microsoft buys 4% stake in LSEG, pair to develop data analytics solutions
LSEG has also committed to a $2.8bn cloud-related spend with Microsoft over the life of the 10-year agreement.
Teneo partners NatWest for A2A open banking payment solution Payit
Teneo will leverage account-to-account solution Payit to pay dividends to those affected by insolvent firms.
Moneyfarm set to buy digital pension adviser Profile Pensions
The deal, which is subject to regulatory approvals, is expected to close in H1 2023.
French fintech Younited secures €60m in new funding
Younited says it will use the funding to develop its partnership activities and invest in its technology.
US paytech Cantaloupe buys Three Square Market for $41m
The acquisition was funded with 90% cash and 10% stock.
White paper: Banking in the new normal – foundations for customer lifecycle intelligence-led banking transformation
Uncovering the principal drivers that will distinguish banks that survive and thrive from those left behind.
New UK bank Ashman live with Mambu’s core banking tech
Once fully launched, Ashman will serve SMEs in the UK’s commercial real estate sector.
PSR outlines APP scam reporting process for banks and building societies
The PSR says APP scams are a “major problem” in the UK with over 95,000 incidents in the first half of 2022.
PayU appoints new head of data, Keren Ben Zvi
PayU is aiming to provide merchants with more detailed customer insights to support business growth.
Starling Bank to create 1,000 jobs as it opens new Manchester base
Starling says it chose Manchester due to its “deep pool of tech talent and rich cultural and creative heritage”.
Swiss neobank Alpian partners Napier, goes live on Temenos Banking Cloud
The bank will deploy the Napier Continuum financial crime compliance platform.
Santander UK hit with £107.7m FCA fine for AML failures
The regulator says it found “serious and persistent” gaps in the bank’s AML controls.
Barclays makes changes to group executive committee as COO steps down
Alistair Currie is set to take over from Mark Ashton-Rigby as the bank’s new group COO.
Bevan Money taps Sopra Banking Software for core banking tech
Bevan Money will utilise SBS’ Sopra Banking Platform technology to power its offering.
Keyrock lands $72m in Series B funding round
Keyrock plans to invest in infrastructure development and regulatory licensing.
Open banking fintech Plaid to cut 260 jobs
Plaid CEO Zach Perret told employees “our pace of cost growth outstripped our pace of revenue growth”.
Crypto platform Zumo hires first chief data and analytics officer
Vicky Byrom joins Zumo from paytech firm Modulr.
Investec taps Surecomp for its digital trade finance tech
Surecomp’s tech will support Investec’s newly formed trade finance business.
Singapore’s Osome raises $25m in Series B funding
The start-up uses machine learning to help businesses automate accounting, payroll and tax reporting.
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.
Embedded finance fintech Arex sells Finnish arm to Svea Bank
Svea Bank says the acquisition will “strengthen” its position as a corporate financier.
eBook: Is it time for risk orchestration?
Download this free eBook to learn more about risk orchestration and its application in practice.
BIC Bank partners Compass Plus Technologies to expand its payment services
The bank has successfully migrated its in-house processing centre to the tech firm’s TranzAxis platform.
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.
The Bank of London names former Metro Bank exec Marc Jenkins as new UK CFO
Jenkins will be responsible for “all accounting, finance and corporate treasury” at the bank.
Commerzbank taps Nexi to develop card processing solution
Nexi says the DACH region is an “important potential growth area” for the firm.
