US paytech Finix lands $30m funding at increased valuation
Finix raised the capital at an increased valuation “despite the more challenging economic environment this year”.
North America
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”.
Great Southern Bank selects Fiserv for core banking upgrade
The bank will utilise DNA from Fiserv as its new core processing platform.
Timberland Bank taps Plinqit for financial wellness and savings tools
Customers can now access digital tools designed to improve financial literacy and establish saving habits.
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.
Jack Henry snaps up Payrailz for undisclosed sum
The acquisition is expected to close on 31 August 2022.
Income verification platform Truework lands $50m Series C funding
Truework says the funds will support its product development and hiring plans.
KeyBank taps BlueSnap to facilitate cross-border e-commerce payments
KeyBank says BlueSnap’s operating model will give clients the flexibility to process global payments.
CFPB investigating Goldman Sachs over credit card practices
Goldman Sachs says it is cooperating with the regulatory body.
CIBC partners MX for fintech customer data access agreement
CIBC customers will be able to securely share their financial data with third-party fintechs via an API.
Valley National Bancorp invests $25m in fintech-focused VC The Garage
The Garage builds and invests in early-stage start-ups in fintech, artificial intelligence and cyber.
FTC files complaint against paytech First American over alleged “harmful practices”
Under a proposed federal court order, First American will have to return $4.9m to affected businesses.
Tax automation fintech Avalara snapped up by Vista for $8.4bn
Vista Equity Partners will acquire all outstanding shares of Avalara for $93.50 per share.
Payments veteran Steve Ledford retires, leaves The Clearing House
The self-described “payments nerd” says he is leaving the payments industry after 41 years.
Embedded finance start-up Parafin raises $60m Series B
The funding round was led by GIC, Singapore’s sovereign wealth fund.
Mexican start-up Clara lands $150m debt financing from Goldman Sachs
The debt financing will boost its lending operations and accelerate its expansion throughout Latin America.
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.
US fintech funding round-up: Leapfin, Compliance.ai, Revolv3 and more
Our handy weekly fintech funding round-up covering news from US start-ups.
Paystand buys Yaydoo to expand B2B payments network across Americas
Paystand says the combined company “will redefine the boundaries of B2B fintech” across the Americas.
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.
American Express launches cross-border payments solution for US SMBs
The Global Pay platform is currently available to US American Express small business card members.
Arvest Bank hires Ninish Ukkan as new CTO
At Arvest, Ukkan will support its digital transformation by leading the new core banking technology initiative.
Robinhood to cut 23% of staff, crypto unit fined $30m
Robinhood CEO Vlad Tenev says previous staff cuts announced in April “did not go far enough”.
Global Payments snaps up EVO Payments for $4bn
Global Payments will acquire EVO in an all-cash transaction for $34 per share, or $4 billion in enterprise value.
Financial software vendor Savana closes $45m Series A round
The funds will be used to support the growth of the company’s Digital Delivery Platform.
Rêv acquires Global Payments’ card business Netspend in $1bn deal
The new combined entity intends to deliver “financial empowerment and product innovation”.
Ohio’s KeyBank taps Quavo for dispute management platform
KeyBank will deploy Quavo’s QFD solution to automate its fraud and dispute processes.
Digital business bank Grasshopper lands $30.4m funding
The fresh capital takes the bank’s total funding to date up to $160 million.
Open finance firm MX hires former PayPal exec Jim Magats as CEO
Magats will start his new role on 17 August and will also join the firm’s board of directors.
Q&A: How IBM aims to support innovation in the fintech sector
FinTech Futures speaks with IBM’s Prakash Pattni to discuss the role IBM plays in the fintech ecosystem.
US fintech GloriFi to trade publicly following $1.7bn SPAC merger with DHC
The new combined business will be worth approximately $1.7bn with the deal expected to close in Q1 2023.
Treasure Financial and Grasshopper Bank team up to improve financial visibility for businesses
The new platform will allow businesses to optimise the rate they’re generating on their cash balances.
Movement Bank signs for NuPoint core banking tech from CSI
“The process of searching for a new core was rigorous,” says Movement Bank’s president.
MVB Bank live with real-time payments functionality
MVB Bank has become the first live user of the RTP Send functionality offered by Victor Technologies.
Veritas Capital in talks with NCR Corporation over potential acquisition
According to The Wall Street Journal, a deal is far from certain and could be weeks in the making.
Low-code development platform Genesis lands $20m funding from BofA, BNY Mellon and Citi
The company secured $200 million in a Series C round led by Tiger Global earlier this year.
Equifax acquires chargeback fraud prevention firm Midigator
Midigator automates the chargeback dispute response process and provides real-time data to businesses.
Mastercard appoints former HP exec Ellen Jackowski as new chief sustainability officer
Jackowski will work to “further integrate” Mastercard’s ESG strategy into the organisation.
Banking Tech Awards USA 2022 Winner: FINOS – Tech Leadership
How can fintechs leverage open source in finance to accelerate innovation and efficiency?
B2B e-commerce paytech Balance raises $56m in Series B round
The fresh capital takes the company’s total funding to $87 million.
