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.
Business-to-Business/B2B
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.
Deutsche Bank to automate trade document checking with Traydstream partnership
The partnership will boost the bank’s efforts to digitise and automate its documentary trade business.
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”.
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.
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.
TAS hires Andrew Quartermaine as COO as it looks to boost international growth
Quartermaine joins from ACI, where he was director of merchant retail for Europe.
Italian paytech Nexi partners Microsoft to develop digital payments solutions
The strategic partnership will see the pair work together to “digitise the European payments space”.
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.
B2B e-commerce paytech Balance raises $56m in Series B round
The fresh capital takes the company’s total funding to $87 million.
Credit union tech provider Mahalo Banking raises $20m
Mahalo Banking provides online and mobile banking solutions for credit unions.
SunTec hires ex-IBM exec as new chief strategy and transformation officer
Pramod Perumparambil will drive the company’s strategy to accelerate business growth.
Aussie paytech mx51 raises $22m Series B
The Series B round was led by an undisclosed “global fintech investor”.
New cross-border payments and digital banking platform KwikPaisa launches in India
The platform will allow users to make payments anywhere in the world.
Funding Circle hires Bruno Tavares as new VP of engineering
Tavares has more than 20 years worth of experience across technology and engineering.
Finastra and HSBC partner up to deliver BaaS FX offering
The firms say the move will enable banks to embed FX services “directly” into corporate and branch channels.
A2A paytech Volt hires Stuart Barclay as new VP of strategy
Barclay joins from Swedish open banking unicorn Trustly.
Recurring-revenue business lender Capchase secures $400m debt financing
The funds will be used to support SaaS start-ups across the US and Europe.
Mojaloop: the open source software powering payments for the unbanked
FinTech Futures chats with Kim Walters, who led the building of Mojaloop’s software from the ground up.
Morocco’s Attijariwafa Bank partners Thunes for cross-border payments
The partnership will enable “nearly 30 million” Moroccan bank account owners to receive remittances.
Recognise Bank taps TruNarrative for digital customer onboarding solution
The RiskNarrative platform will digitise a number of AML and KYC processes via a single API.
Digital insurer Wefox raises $400m Series D funding
Funds will be used for product development and expanding across Europe, Asia and the US.
UK fintech Sonovate secures £165m securitisation deal
Sonovate says the deal will enable it to lend over £1.3 billion in invoices “this year alone”.
AML software firm Lucinity raises $17m Series B funding
Lucinity says the funding will help expand its customer base, partner network and product offering.
Accounts receivables platform Tesorio bags $17m in Series B round
The new capital takes Tesorio’s total funding raised to date to $37.6 million.
Nigerian fintech Moove lands $20m from British International Investment
BII is the new name of CDC Group, the UK government’s development finance institution.
Indian revenue-based financing firm GetVantage bags $36m funding
The new investment brings GetVantage’s total funding to date to $41 million.
India’s Jarvis Invest hires Rajesh Batreja as CSO
The company intends to expand throughout India and into the US and Middle East.
Data platform SAS acquires financial risk management firm Kamakura
Together, SAS’ and Kamakura’s solutions “will prove far greater than the sum of its parts”.
Indian B2B e-commerce platform Solv raises $40m Series A
Solv says the funding will support its expansion throughout more than 300 cities across Africa and Southeast Asia.
Earned wage access platform Tapcheck raises $20m Series A
Tapcheck says cash advances relieve the stress that usually comes with living paycheck to paycheck.
Citi partners METACO to develop digital asset custody capabilities
Citi will integrate METACO’s bank-grade digital asset custody and orchestration platform, Harmonize.
Stripe simplifies bank transfers for UK, EU and Mexican businesses
Stripe says that bank transfers, despite their popularity and ease of use, are “filled with friction”.
Fintechs Stanhope and Stenn hire new CPOs as they look to scale
Groombridge will be leading Stanhope’s payments offering, while Bajwa will be developing Stenn’s financing solutions.
SME paytech SumUp raises €590m at €8bn valuation
SumUp says the latest funding is “indicative of our strength, execution, and potential”.
Blockchain paytech Roxe to go public via SPAC merger in $3.6bn deal
Roxe will merge with Goldenstone Acquisition and become a publicly traded company on Nasdaq.
B2B BNPL fintech Hokodo raises $40m in Series B funding round
Hokodo says it will use the funding to expand into new European markets and develop new products.
