North America fintech funding round-up: Vexi, Comun, ModernFi & more
A round-up of the latest funding endeavours of fintech start-ups from across North America.
North America
Financial market data provider Quodd acquires Xignite
The combined business will serve more than 2,200 companies.
AI regtech WorkFusion names Arthur Mueller VP of financial crime
Mueller joins from Rabobank North America where he served as AML and sanctions officer for more than six years.
Citizens Financial Group taps Paymentus for bill pay and money movement services
Through the partnership, Citizens will deploy Paymentus Bill Center and Paymentus Loan Payments.
Dragonfly makes C-level hires as firm expands partnerships and portfolio
Alongside the senior appointments, the firm says it has also expanded its development and product teams.
Laurentian Bank launches new credit card programme with Brim Financial
Laurentian Bank says the new credit card programme will “enhance the overall experience” of its customers.
PayPal reportedly halts work on stablecoin offering
PayPal is hoping to get a clearer understanding of the evolving regulatory landscape, Bloomberg reports.
FIS reveals plans to spin off merchant business unit
FIS expects the spin-off to be completed within the next 12 months.
PayPal CEO Dan Schulman to retire by end of 2023
PayPal says it will begin its search for Schulman’s successor imminently.
Global Technology Partners names Olaseni Alabede as new CTO
Alabede was previously vice president of product development in Mastercard’s installments business.
US fintech funding round-up: Wink, Blip, Upwardli and Inkle
A handy round-up of the recent funding endeavours of fintech companies across the US.
Finzly opens up access to FedNow via API connection
Developers from fintechs and banks can now access the sandbox environment of FedNow via Finzly’s API.
BNPL fintech Affirm lays off 19% of workforce, nixes crypto offering
The company intends to double down on its core business while “sunsetting” initiatives including Affirm Crypto.
Canada’s Jobber secures $100m in Series D funding round
Jobber’s SaaS solution enables small businesses to accept credit card payments and send invoices.
Inter&Co acquires real estate investment start-up YellowFi
Inter&Co provides financial services through its ‘super-app’ to more than 25 million users.
Pipe Technologies appoints Luke Voiles as its new CEO
Voiles joins Pipe from Square, where he served as general manager of Square Banking.
CFPB proposes new rule to curb excessive credit card late fees
According to CFPB estimates, excessive fees cost American families about $12 billion each year.
Non-profit Commonwealth begins second phase of partnership with JP Morgan Chase
Commonwealth and JP Morgan Chase are examining how new tech can reduce wealth inequality in the US.
Bank of Nevis International taps Tookitaki for AML tech
The Caribbean bank will deploy Tookitaki’s Anti-Money Laundering Suite (AMLS).
US neobank Oxygen bags $20m Series B, appoints new CEO
Former Sber CTO David Rafalovsky joins Oxygen as CEO, replacing founder Hussein Ahmed.
Mizuho Bank in core banking tech overhaul with Oracle
Oracle’s solutions will support “critical” functions, including direct deposit accounts and liquidity management.
US fintech Stash appoints Liza Landsman as new CEO
Prior to joining Stash, Landsman served as general partner at NEA, a global venture capital firm.
FIS reportedly axes 2,600 jobs amid ongoing strategic review
Bloomberg reports the cuts have taken place over the past few weeks.
US Bank launches automated payroll deposit feature for new accounts
The automated process is available on the bank’s mobile app and online banking platforms.
Paytech Highline names Rebecca Mowat director of partnerships
Mowat brings over 20 years’ worth of experience in international trade and business to Highline, the firm says.
JP Morgan reportedly planning German digital bank offering
The launch is set for late 2024 or early 2025, Bloomberg reports.
US start-up Finley secures $17m in Series A fundraise
The round was led by CRV with participation from both new and existing investors.
Treasury Prime bags $40m in Series C funding
With the funding, Treasury Prime plans to build out its solution and develop new products and services.
US lender Upstart to cut 20% of jobs in bid to return to profitability
Upstart is also suspending development of its small business loan product.
US payments platform Moov lands $45m Series B
The funding will be used to refine and scale the platform, and address new payments use cases.
Marqeta makes first M&A foray with $275m Power Finance deal
The acquisition, Marqeta’s first, will “significantly boost” the firm’s credit product capabilities.
Data management platform Finbourne lands £30m debt facility with Kreos
The debt facility constitutes an extension to Finbourne’s Series A funding held in April 2021.
Turkey’s Quick Finans taps Provenir for data and risk decisioning platform
Quick Finans selected Provenir’s tech to enhance its customer onboarding process.
Valor PayTech hires Riaz Ladha and Eric Kirk to lead new business unit
Valor CEO Eric Bernstein says the pair will help the firm build new partnerships.
Don’t click this link: how authID aims to protect you from yourself
AuthID leverages the “human factor” to remediate today’s social engineering attacks, CEO Tom Thimot says.
Marqeta appoints Simon Khalaf as new CEO
Khalaf joined in June as chief product officer and will replace founder, chair and current CEO Jason Gardner.
Departing Coinbase CPO Surojit Chatterjee reportedly made $115m at firm
Chatterjee joined Coinbase in 2020 on a five-year contract but is leaving due to family illness and bereavement.
US fraud detection start-up Inscribe raises $25m in Series B funding
With the new capital, Inscribe plans to further develop its fraud detection capabilities.
SMB financial health platform Nav acquires Nuula
Nav says the acquisition will boost its existing offerings for small businesses.
US fintech Marygold & Co names Timothy Rooney as new president
Rooney will be tasked with ensuring the successful launch of the firm’s new financial services app.
