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Finovate Blog
Tracking fintech, banking & financial services innovations since 1994
B2B payments and invoicing network TreviPay has introduced new B2B purchase controls.
The controls will leverage automation to help reduce manual reconciliation activity and enhance compliance with procurement requirements.
Headquartered in Overland Park, Kansas, TreviPay made its Finovate debut at FinovateFall 2022 in New York.
Global B2B payments and invoicing network TreviPay recently unveiled new, advanced purchase controls. This new offering will enable businesses to configure and enforce customized B2B purchase policies that are aligned with their procurement requirements. The purchase controls respond to pain points in the B2B purchasing process, automating controls to reduce payment delays, minimizing manual reconciliation, and making it easier for companies to remain compliant.
“Creating frictionless B2B commerce experiences is critical for driving long-term buyer loyalty for our clients,” TreviPay Chief Product and Technology Officer Dan Zimmerman said. “TreviPay’s advanced purchase controls provide businesses with the flexibility to customize guardrails ahead of the ordering process so they can optimize access to spending and help maintain accurate records.”
The new offering comes as businesses increasingly recognize the value of invoice customization when it comes to offering a seamless purchasing experience. According to a study conducted in partnership with Murphy Research, 78% of B2B buyers indicated a need to customize or control aspects of their purchasing experience. To this end, TreviPay’s advanced purchase controls feature a variety of configurable options including:
Purchase Order (PO) Number Requirements to ensure that charges cannot be processed without a valid PO number
Amount-Based PO Thresholds to automatically enforce PO requirements for transactions that exceed a buyer-defined threshold
Unique PO Number Validation to prevent duplicate PO numbers to maintain accurate records and avoid issues with reconciliation
Custom PO Number Format to ensure all PO numbers follow the specific format required by the buyer’s system.
In a statement, the company noted that these options work across all purchasing channels, whether online, in-store, or via sales teams. Automatically flagging and stopping non-compliant transactions at the point of purchase helps businesses avoid the time-consuming and costly communications that are often required in order to answer questions and resolve discrepancies when issues with purchase orders arise.
“Traditional complexities in the order-to-cash process, such as missing or incorrect purchase order information, can cause delays in merchants getting paid,” Zimmerman explained. “By addressing common challenges or slowdowns in the ordering processes, we’re helping our clients minimize the strain on A/R teams and grow their business, without compromising the quality of the buying experience.”
Headquartered in Overland Park, Kansas, TreviPay made its Finovate debut at FinovateFall 2022 in New York. At the conference, the company demonstrated its Small Business Supplier Payments Network (SBSN). SBSN empowers banks to expand their offerings to small businesses by enabling them to access the small business B2B trade credit market. Member banks can leverage SBSN to customize their solutions, define and execute go-to-market strategies, manage risk, and set supplier fees—all while establishing exposure targets, growth rates, and profitability.
In addition to the purchase controls announcement, TreviPay also recently unveiled new features including risk-based pricing to boost credit accessibility, shared buyer codes in its mobile app to share or extend purchasing ability to unauthorized users on a temporary basis, and enhanced visibility into upcoming disbursements.
March has been a busy month for TreviPay. Along with launching new features, the company reported that it is the latest issuer on UATP’s network for corporate business travel payments. Also this month, TreviPay announced a new collaboration with HSBC to streamline B2B payments for businesses via flexible payment options and financing solutions at the point of sale.
“Supporting a seamless e-commerce and omni-channel purchasing journey and offering the right payments and invoicing options are gateways to building loyalty with business buyers,” TreviPay CEO Brandon Spear said. “With HSBC on board, TreviPay has additional tools to scale our technology and leverage an API-based model to move into new markets.”
This week marks Eid al-Fitr, the festival celebrating the end of Ramadan and the breaking of a month-long fast. Similarly, the close of this quarter feels like fintech is breaking its own fast, with Klarna filing its IPO prospectus, Rocket Companies announcing major acquisitions of Mr. Cooper and Redfin, and regulatory frameworks beginning to ease in the U.S. As we enter into the second quarter, here’s a look at this week’s fintech news as we leave the time of fasting behind. We’ll continue adding news to this post throughout the week, so stay tuned!
Finastra‘s cloud-based loan document preparation system LaserProunveils enhanced features and sees further adoption by community-based financial institutions.
Business financial management
Tesoriolaunches AI agent that autonomously manages portal-based invoicing.
Enterprise spend management platform Mendelcloses $35 million Series B round led by Base10 Partners with participation from PayPal Ventures.
Supply chain finance fintech Taulia partnered with Lloyds to embed Visa-enabled Virtual Cards into SAP Business Suite solutions, streamlining supplier payments.
Businesses using Taulia’s platform will be able to issue virtual cards globally through Lloyds, enhancing automation, cash flow visibility, and payment efficiency.
This collaboration builds on Taulia’s previous partnership with Visa, further integrating modern digital payments directly into enterprise resource planning (ERP) systems.
Supply chain finance fintech Taulia announced this week that it has partnered with Lloyds to issue Visa-enabled Virtual Cards. Taulia will embed the new virtual card offering across a range of its SAP Business Suite solutions.
“We are passionate about helping businesses unlock new value streams and our clients are fast recognizing the efficiency and financial benefits of deploying virtual cards for supplier payments,” said Lloyds Head of Commercial Cards Linda Weston. “We are thrilled about our partnership with Taulia as it enables truly embedded B2B payments processes in the SAP technology eco-system, making it easy for clients to adopt virtual payments and realise their strategic objectives.”
Taulia was founded in 2009 to help companies make use of cash tied up in their payables, receivables, and inventory. The company, which was acquired by SAP in 2022, maintains a network of 3+ million businesses to fuel its clients with more working capital.
Taulia customers who have purchased its Virtual Cards solution can receive credit from Lloyds and issue virtual cards to their suppliers across the globe. The embedded Virtual Cards solution can be seamlessly integrated into non-financial platforms, allowing businesses to offer a better customer experience that will enhance automation, cash flow visibility, and payment efficiency.
Taulia will leverage Visa’s APIs to integrate Visa virtual payment credentials, acceptance solutions, and supplier enablement services into the end-user’s ERP applications.
“Embedding virtual cards directly within the ERP landscape and having Lloyds as an issuing partner is a game-changer for corporate payments,” said Taulia Chief Product Officer Danielle Weinblatt. “This collaboration redefines how businesses manage spend, bringing greater control, automation, and working capital optimization directly into their existing workflows. By seamlessly integrating virtual cards into enterprise systems, we are not only streamlining payments but also empowering companies to unlock liquidity, enhance cash flow intelligence, and modernize their financial operations—driving smarter, more agile growth in an evolving global economy.”
This partnership comes a year after Taulia first announced it had partnered with Visa to embed Visa’s digital payments technology into its Virtual Cards offering. “By partnering with Taulia, we create synergies in working capital management and the enablement of a world class ERP provider,” Visa SVP, Global Head of Large, Middle Market Segments and Working Capital SolutionsAlan Koenigsberg said in the announcement last year.
This week’s edition of Finovate Global features an interview with Stav Levi-Neumark, CEO and Co-Founder of revenue workforce solutions provider Alta.
Founded in 2023 and headquartered in Israel, Alta leverages data and AI to help drive revenue growth at every level for businesses. The company’s AI Revenue Workforce agents ensure that everyone on the team is connected, aligned, and equipped with the data insights and AI automation they need to enable their businesses to scale efficiently and grow faster. Alta’s agents have helped produce a 3x increase in qualified leads, a 15% increase in win rates, and a 80% reduction in costs.
Our conversation with Levi-Neumark is also a part of Finovate’s and Finovate Global’s commemoration of Women’s History Month. Be sure to check out her thoughts on gender diversity, current opportunities for women in fintech, as well as her advice for female CEOs.
Can you tell us a little bit about Alta and the revenue workforce solutions business?
Stav Levi-Neumark: AI is impacting almost every industry now. But go-to-market and revenue teams across many vertical markets are struggling to fully harness AI for sustained growth. Choosing the right tools to enhance capabilities of salespeople while also automating relevant tasks is a real challenge.
Alta is an AI revenue workforce that is data-driven. It supports revenue teams, allowing each person to be like a 10x version of themselves.
Alta agents automate repetitive and mundane tasks that require limited human oversight, such as researching potential leads and conducting personalized outreach across multiple channels. The agents also provide actionable insights based on real-time data across all revenue functions. This streamlined workflow helps companies achieve improved revenue growth by working more efficiently, accelerating their sales cycle, and enabling humans to focus on relationship-building opportunities, strategic, and creative work.
Who are Alta’s primary customers and how do you reach them?
Levi-Neumark: Alta has really diverse customers across virtually every business sector, and they range from SMBs to Fortune 500 companies. We’ve been able to ramp up the number of clients we have really quickly as well, adding almost 100 customers in less than six months.
Your latest solution—AI Revenue Workforce—leverages innovations in agentic AI. Can you talk about how this technology and new product empower go-to-market and revenue teams?
Levi-Neumark: Agentic AI has endless potential to dramatically improve efficiency and drive revenue growth. By leaving automated tasks to AI agents, human-led go-to-market and revenue teams can work smarter and faster, focusing their attention where it matters most: developing strategy, building relationships, closing deals, and increasing ROI through creative thought.
AI agents in Alta’s workforce include Katie, a Sales Development Representative (SDR), Luna, an AI RevOps agent, and Alex, an AI Calling agent. The workforce can integrate into more than 50 internal and external marketing, sales, and revenue systems that include CRMs, ERPs, payment, advertising, social media tools, and more.
Alta is a very young company, founded in 2023. There has been a lot of discussion about the current environment for tech startups. How would you characterize the climate for startups today?
Levi-Neumark: The founders who thrive will be those who can harness technological advancements while building businesses with solid foundations that can stand on their own, beyond the AI hype. Here’s the advice I typically share when talking with other tech founders:
Success means your customers attribute significant revenue growth directly to your product. When they look at their business results and can clearly see your impact on their bottom line, that’s when you’ll know you’ve truly succeeded.
Maintaining balanced, healthy growth is key. While it may be tempting to focus more attention on one specific area of your organization, it’s critical to ensure all departments grow at an equal pace.
Be proactive rather than reactive to market shifts to position yourself ahead of certain trends. When deeply focused on product development and customer acquisition, it’s easy to miss emerging signals from the broader ecosystem.
Alta recently secured $7 million in seed funding. What does this investment mean for the company and what will it enable Alta to do?
Levi-Neumark: This funding solidifies Alta’s position as an industry leader in workforce intelligence automation. It will allow Alta to continue developing out-of-the-box solutions that redefine the relationship between AI and sales teams to unlock limitless revenue growth opportunities.
We plan to utilize the investment to expand into new markets, grow operations, scale R&D, and accelerate product development to meet increasing market demand from enterprise and mid-market customers. In fact, we are currently developing our newest AI agent, Greg, a sales assistant for account executives, to further bolster our workforce’s capabilities.
You are one of very few female CEOs in the enterprise AI space. Are there unique challenges to greater gender diversity in enterprise AI compared to other areas of technology, fintech, or financial services?
Levi-Neumark: I don’t feel there are unique challenges specific to the AI space compared to other tech sectors. The gender diversity issues we face in enterprise AI mirror what we see across technology, fintech, and financial services more broadly.
The fundamental challenges remain consistent: representation gaps, unconscious bias in hiring and promotion, and the need for more visible role models.
That said, I prefer to focus on the opportunity. AI is still a relatively young field, and at the end of the day, our success is what will define us. I hope more female founders and women will enter this market and look forward to welcoming them.
What advice would you give to female CEOs, especially those who are new to the role?
Levi-Neumark: I would advise female CEOs, especially those new to the role, to build strong support networks early. Connect with other female founders and executives who understand your specific challenges—these relationships become invaluable resources for candid advice and emotional support that you can’t always find within your company.
Trust your unique leadership style and perspective. There’s often pressure to conform to traditionally masculine leadership traits, but the most effective leaders bring their authentic selves to the role. Your different viewpoint is actually a strategic advantage that can help identify opportunities others might miss.
Be strategic about which battles to fight. As a female CEO, you’ll likely face additional scrutiny and challenges. Learn to distinguish between issues that are worth addressing directly and those where it’s better to let your results speak for themselves.
Prioritize building a diverse leadership team from the start. This not only leads to better decision-making, but also creates a culture where different perspectives are valued.
Finally, remember that your visibility matters. By succeeding in your role, you’re creating pathways for others. Share your journey, mentor upcoming leaders, and when possible, be the voice and representation you wished you had when starting out.
Here is our look at fintech innovation around the world.
Asia-Pacific
UK-based open banking payments company Atoa announced an integration with New Zealand-based small business platform Xero.
Robinhood announced Robinhood Strategies, Robinhood Cortex, and Robinhood Banking, introducing AI-powered investment insights and premium banking services for Gold members.
Robinhood Banking, launching this fall, will offer private banking perks such as global currency transfers, luxury benefits, and up to $2.5 million in FDIC insurance, challenging established private banking providers.
Currently lacking a banking charter, Robinhood partners with Coastal Community Bank. Obtaining its own banking license could help it directly control offerings, reduce costs, and compete more effectively with legacy financial institutions.
At an event in San Francisco last night, digital stock brokerage app Robinhoodunveiled plans for a new method of portfolio management, an AI investment tool, and a private banking offering. The new offerings come with exclusive benefits for Robinhood Gold members.
“Our goal is for Robinhood to give you a world-class financial team in your pocket, with cutting-edge tools you can’t find elsewhere,” said Robinhood CEO Vlad Tenev.
The three new products announced include Robinhood Strategies, Robinhood Cortex, and Robinhood Banking. Robinhood Strategies is a wealth management tool that offers investors more control, managed accounts, and an interactive portfolio. Robinhood Cortex is an investing tool that leverages AI to provide real-time analysis to help navigate the markets, identify opportunities, and stay up to date on news.
Much of the buzz surrounding the event seems to be focused on Robinhood Banking, and for good reason. Set to launch later this year, the new offering aims to bring the private banking experience to Robinhood Gold members. Along with traditional checking and savings accounts, members can also expect to receive “luxury benefits.” Among the differentiating factors of the new accounts, which offer up to $2.5 million in FDIC insurance, are the ability to send money across the world in 100+ currencies, access estate planning and professional tax advice, receive a physical delivery of cash to your doorstep, and access exclusive perks such as tickets to events like the Met Gala, Oscars, F1 Monaco Grand Prix, The Masters, and more, as well as private jet travel, private chauffeurs, luxury helicopter rides, and members-only vacation clubs.
Robinhood Banking will launch this fall and will offer individual and joint accounts with the option to add children’s accounts with allowances and spending limits. When the banking services go live, the Robinhood Credit Card app will become the banking app and the credit card, checking, and savings will all live in one place.
The launch of Robinhood Banking will place the company in competition with Morgan Stanley, Charles Schwab, and others that provide private banking services for a fee. And while Robinhood charges just $5 per month for its service, the fintech is missing one crucial element to becoming a fully-fledged bank: a banking license. Robinhood withdrew its application with the OCC for a bank charter in 2019 and has since partnered with Coastal Community Bank to provide banking services behind the scenes.
If (or perhaps when) Robinhood does prioritize obtaining its banking license, it will benefit by gaining more direct control over its banking operations, significantly reducing reliance on third-party banks. This move would allow Robinhood to cut costs, offer a wider range of banking products, and quickly adapt and innovate its offerings in response to market demands or customer feedback. Most importantly, having a banking charter would strengthen Robinhood’s credibility and competitive positioning among legacy financial institutions, empowering it to potentially expand beyond its current target demographic of younger investors into the broader retail banking market.
Today’s announcement comes two years after Robinhood acquired credit card company X1 for $95 million and one year after the California-based company unveiled its own credit card, the Robinhood Gold Card. Since then, the waitlist for the card has grown to nearly three million people. The company has rolled out the card to more than 100,000 people, and plans to launch it to another 100,000 people on the waitlist.
“With Robinhood Banking, we’re trying to solve many of the challenges presented by legacy banks,” said Robinhood Money GM and VP Deepak Rao. “Robinhood Banking is thoughtfully designed to be as easy to use as possible, while still delivering cutting-edge features historically reserved for the ultra-wealthy. We’re pushing the boundaries of what you should expect from your bank.”
This week’s edition of Streamly Snapshot features a pair of conversations from FinovateEurope discussing two of the hottest topics in fintech in 2025: AI and compliance.
First up, my interview with Christian Blaser (LinkedIn), Chief Technology Officer with b-next. Blaser discusses compliance for financial institutions, including specific issues in trade surveillance, insider compliance, personal account dealings, and market abuse. Blaser also provides his perspective on the role of AI and machine learning in enhancing compliance for financial institutions.
“What we initially did when we built our platform and our solutions was focus on modularity. We can easily come up with new solutions and our customers can always pick and choose from whatever offerings we provide to them. It definitely helps the client’s ability to react to any regulatory changes very, very fast.”
Founded in 1989, b-next is a compliance solutions provider and specialist in capital markets trading surveillance. With offices in Germany, the UK, and the US, b-next serves banks, brokers, supervisory entities, and energy suppliers with the solutions they need in order to meet regulatory requirements and manage operational risks.
Second, Ben Goldin (LinkedIn), Founder and CEO of Plumery talks about the rise and evolution of lifestyle banking, as well as other key trends in digital banking such as the role of AI and the demand for hyper-personalization. Goldin also discusses the impact of generative AI on all aspects of banking and what he believes is the “secret” to successful modernization in financial services.
“Plumery is a digital banking company. We’ve built a technology that we call Digital Success Fabric. The mission of Digital Success Fabric is to modernize the banking experience and essentially democratize access to delightful experiences for financial institutions globally.”
Headquartered in Amsterdam and founded in 2016, Plumery offers a digital banking experience platform that empowers financial institutions to launch their own mobile and online applications. The company’s developer-friendly platform supports constant enhancement of the customer experience, helping financial institutions meet the demands of an increasingly digital-first, tech-savvy customer base.
German trading and investing platform NAGA has announced a strategic partnership with stock research company TipRanks.
The partnership will bring advanced stock analysis and institutional-grade research tools to retail investors.
Founded in 2012, TipRanks won Best of Show in its Finovate debut at FinovateSpring 2013. The company took home Best of Show honors again at FinovateFall later that year.
Germany-based fintech NAGA has teamed up with stock research firm TipRanks. The strategic partnership will bring advanced stock analysis and institutional-grade research tools to retail investors.
“We are delighted to partner with NAGA. Both our companies are laser-focused on making data and information more readily available to all investors,” TipRanks CEO Uri Gruenbaum said. “We believe technology has an important role to play in improving outcomes for every investor, giving individuals access to the tools and insights that were once only the domain of large-scale institutions.”
The partnership will enable NAGA users to access detailed forecasts from industry analysts. This includes specific price targets for stocks, as well as recommendations for stocks over varying time periods. The partnership will also allow users to better see how hedge funds are investing in different markets, and how well the managers of those funds are performing.
Users will also benefit from TipRanks’ enhanced Smart Score solution. Smart Score ranks stocks from one to 10 based on eight key factors, including how the stock is viewed by top-performing stock analysts, whether or not hedge funds are in the process of accumulating or distributing the stock, and more. Enhancements have made the tool faster and easier to use when evaluating stocks and making buy and sell decisions.
“Our collaboration with TipRanks will yield significant benefits for our users,” NAGA CMO Valentin Ilioi said. “These enhancements represent our commitment to providing innovative tools that give our traders a competitive edge. By continually improving our platform with TipRanks’ insights, we’re ensuring NAGA remains at the forefront of social trading innovation.”
All-in-one trading platform NAGA facilitates trading and investing in more than 4,000 assets including CFDs on stocks, Forex, indicies, commodities, exchange-traded funds (ETFs), bonds, and cryptocurrencies. NAGA also offers social trading which includes an Autocopy tool that enables traders and investors to benefit from the experience of other traders and investors by following and copying their market moves. With more than 1.5 million users on its platform, NAGA is headquartered in Hamburg, Germany, and was founded in 2015.
Founded in 2012, TipRanks won Best of Show in its Finovate debut at FinovateSpring 2013 in San Francisco. The startup scored a second Best of Show award when the company returned to the Finovate stage for FinovateFall later that same year. Most recently, the Tel Aviv-based firm launched Spark AI, a comprehensive AI-powered stock analyst solution that provides data-driven insights on penny stocks and blue chip equities alike. The technology generates reports that detail strengths, risks, financials, and peer comparisons to give traders and investors the information they need in order to make better buy and sell decisions in the market.
Yesterday, Donald Trump signed an Executive Order (EO) to modernize the U.S. payments system by phasing out paper checks. The EO mandates that the Federal government will stop issuing paper checks for all disbursements starting September 30, 2025.
The EO, which is targeting waste, fraud, and abuse, will offer both banks and fintechs opportunities and challenges as they seek to bring digital banking to underbanked consumers who need to send payments to and receive payments from the federal government.
So as you begin your second quarter planning initiatives, here are a few things you’ll need to know about this week’s Executive Order.
Real time payments become solidified
Banks’ adoption of FedNow and The Clearing House’s RTP is increasing, and so are consumer expectations for faster fund transfers. This week’s EO stipulates the move to “fast, electronic payments,” which will change the expectations of even underbanked and elderly populations that rely on government monetary benefits.
Heightened emphasis on payment security and fraud prevention
The Fact Sheet detailing the EO specifically cites security and fraud prevention as major reasons for modernizing US payments. “President Trump is cracking down on waste, fraud, and abuse in government by modernizing outdated paper-based payment systems that impose unnecessary costs, delays, and security risks,” the Fact Sheet said. The move will ultimately bring stricter standards to government payments and will help foster consumer trust.
A shift toward digital identity verification
As payments digitize, reliable identity verification methods will become increasingly crucial. While bringing payments into the digital space will help boost KYC and AML verifications, it will also offer opportunities for fraudsters to create new scams. As an example, non-digitally native consumers may be more likely to fall victim to phishing attacks that they perceive to be payments from the federal government.
Not everyone is required to make the change
The EO states that exceptions will be made for people without banking or electronic payment access, in specific emergency payments cases, for certain law enforcement activities, and for other special cases that qualify for an exception.
Consumer awareness is key
The EO explains that, prior to the September 30 deadline, the government will initiate a comprehensive public awareness campaign to inform federal payment recipients of the shift to electronic payments. Banks should work alongside these campaigns with public awareness initiatives of their own to offer guidance on setting up digital payments and mitigating fraud.
Overall, this new EO represents a significant opportunity for banks and fintechs. By accelerating the shift to digital payments, the EO underscores the value of digital-first strategies and positions banks in a great place to attract new customers who previously relied on paper checks.
Banks and fintech companies that proactively support consumers during this transition—through seamless onboarding, education, fraud prevention, and robust digital identity verification—can strengthen their market position, deepen customer relationships, and foster long-term trust. Ultimately, the shift away from paper checks will reinforce existing efforts toward financial inclusion, drive consumer adoption of digital tools, and encourage innovation across the payments landscape.
Mercury raised $300 million in Series C funding, bringing its total investment to $452 million and boosting its valuation to $3.5 billion.
The round, which was led by Sequoia Capital, includes both primary (growth) and secondary (stakeholder liquidity) funding.
Mercury differentiates itself by offering integrated digital banking solutions for startups and SMBs, positioning it as a direct competitor to Brex and Ramp.
Business banking fintech Mercuryunveiled today that it closed a $300 million funding round, rocketing the company’s total raised to $452 million. The Series C investment round was led by new investor Sequoia Capital and saw participation from other new investors Spark Capital and Marathon, as well as existing investors Coatue, CRV, and Andreessen Horowitz.
The round includes both primary and secondary funding. This means that not only will the company have funds to use for growth, but it will allow early stakeholders the opportunity to cash out part of their investments. The investment also boosts Mercury’s valuation. The California-based company is now valued at $3.5 billion, which is more than double its 2021 valuation of $1.6 billion.
Mercury was founded in 2017 and has since focused on serving small businesses and investors. In 2022, the company launched its corporate card. Two years later, Mercury expanded once again to launch financial tools to help companies pay bills, send invoices, automate accounting, and manage employee expenses.
Today, the company helps more than 200K businesses and entrepreneurs access banking tools, credit cards, and software they need to manage their financial workflows. Among Mercury’s customers are startups like Linear, Phantom, and ElevenLabs, as well as venture capital firms and e-commerce companies like Cocolab and Bogey Bros.
When Silicon Valley Bank (SVB) collapsed in 2023, Mercury saw $2 billion in client deposits from entrepreneurs seeking an alternative banking option. Today, the digital bank retains 95% of those funds. In fact, Mercury’s handling of the SVB collapse was what gained it the attention of Sequoia, the lead new investor of today’s round.
“Mercury began with the vision that banking should do more than safely hold money – it should bring all the ways people and businesses use money into a single product that feels extraordinary to use,” said company CEO and Co-Founder Immad Akhund.
Along with its funding announcement, Mercury also unveiled key financial growth milestones, including:
Ten consecutive quarters of profitability based on both EBITDA and GAAP net-income
$500 millionin revenue in 2024
40% growth in customers year-over-year
$156 billionin annual transaction volume, up 64% year-over-year
Last year, Mercury introducedMercury Personal, a digital bank account that offers a personal bank account for users who want self-serve banking and a high-quality product experience to optimize their personal finances. Mercury Personal is slated to launch later this year.
“Mercury is a disruptive company with a bold vision for the future of banking,” said Sequoia Capital Partner Sonya Huang. “It has been synonymous with banking for startups, but Mercury is built for nearly every business and is a real competitor to legacy banks. With its track record of profitability, innovation, operational excellence, and clear vision for what banking can become, I believe that Mercury has a chance to be a generational company at the intersection of financial services and software.”
Mercury sits in the same arena as competitors Brex and Ramp. However, Brex and Ramp have carved out niches through corporate credit cards and expense management solutions aimed at high-growth startups and larger enterprises, while Mercury differentiates itself by delivering more of a comprehensive digital banking solution with integrated financial management software tailored to early-stage startups and entrepreneurs.
Credit card-linked installment payments solutions company Splitit launched its embedded Shopify app.
The new app, Splitit Card Installments, gives merchants a one-click installment payment experience without redirects or applications.
Splitit made its Finovate debut in 2014 (as PayItSimple USA). The company rebranded as Splitit in 2015.
Card-linked installment payment solutions company Splitit has unveiled its embedded Shopify app: Splitit Card Installments. The new offering gives merchants an all-in-one service that includes credit card processing along with a seamless one-click installment payment experience for consumers that doesn’t require redirects or applications.
“Our Embedded Shopify App marks a transformative leap in the installment payment landscape,” Splitit CTO Ran Landau said. “By seamlessly integrating into the Shopify checkout, we’ve eliminated the friction typically associated with pay-over-time solutions, a key factor in cart abandonment. This white-label approach empowers merchants to offer branded, one-click installment options while maintaining full control over their customer journey and data. For shoppers, it provides unparalleled convenience, allowing them to easily manage their finances without leaving the merchant’s ecosystem.”
The new app is embedded into the Shopify checkout flow, and gives consumers the option to pay in full or by installments directly within the credit card section. A white-label solution, Splitit Card Installments gives merchants control over both their brand identity and customer relationships. There is no distracting third-party branding and all first-party consumer data remains with the merchant. The app is available to shoppers in more than 100 countries who will benefit from access to localized payment options. Merchants benefit from accessing a more diverse, global customer base, as well as new markets and revenue streams.
“This innovation not only enhances the customer experience but also presents a significant opportunity for merchants to acquire and retain customers in an increasingly competitive e-commerce landscape,” Landau added.
Splitit made its Finovate debut (as PayItSimple USA) at FinovateFall 2014. The company rebranded as Splitit the following year in an effort to “better align the Company’s brand with its overall strategy and product offering.” Since then, the company has grown into a major Installments-as-a-Service provider serving many of Internet Retailer’s top 500 merchants. Additionally, Splitit’s solutions are accepted by more than 1,500 ecommerce merchants in 30+ countries and by shoppers in 100+ countries.
Splitit’s new app launch news comes just days after the company announced a partnership with modern card issuance company and fellow Finovate alum Highnote. Courtesy of the partnership, Splitit will leverage Highnote’s tokenized virtual cards to pay merchants and provide real-time functionality that enables Splitit to offer consumers a new option for paying over time. This allows consumers to use their digital wallets to access Splitit’s card-linked, embedded, installment payment options. The process features a low-friction, pay-later approval flow that eliminates the need for a credit check by referencing the consumer’s existing available credit.
Splitit CEO Nandan Sheth praised Highnote’s platform for its “flexibility, scalability, and security.” He added, “This partnership allows us to offer shoppers a seamless and efficient way to make payments over time, directly within their digital wallets or at merchant checkout, further simplifying the shopper journey.”
Headquartered in Atlanta, Georgia, Splitit also maintains an R&D center in Israel and offices in London. The company was founded in 2012.
LoanPro and NovoPayment have teamed up to help expand access to credit for consumers in Latin America.
The partnership integrates LoanPro’s credit ledger and origination, servicing, and collections technology with NovoPayment’s API-based issuing processing.
Utah-based LoanPro made its Finovate debut at FinovateSpring in 2021.
Modern credit platform LoanPro and financial infrastructure provider NovoPayment have announced a partnership to help boost access to credit in Latin America. The two companies will give financial institutions and fintechs throughout the region an integrated, end-to-end infrastructure that can support credit and lending products of virtually any class.
The integration will give FIs and fintechs access to a suite of solutions to boost their own credit offerings. These solutions include LoanPro’s Transaction Level Credit product, which facilitates the assignment of unique repayment terms, fee structures, and interest rates to individual transactions. This helps institutions offer customers personalized credit solutions, and enables different categories of transactions to feature different interest rates and financial terms.
FIs and fintechs will also benefit from NovoPayment’s cloud-native platform that puts real-time processing, robust security, event-driven architecture, and an API-first approach to work to deliver low-latency transactions and automated failover. This further supports the ability of companies to offer customized credit solutions.
“Access to credit is a cornerstone of true financial inclusion,” NovoPayment CEO Rodrigo Rodas said. “NovoPayment’s trajectory has been defined by our commitment to bridging financial gaps through innovative infrastructure solutions. Partnering with LoanPro enables us to empower financial institutions and fintechs across Latin America, providing them with the tools to offer diverse credit products and foster economic growth in the region.”
The partnership between LoanPro and NovoPayment comes at a time when modernization in banking and financial services infrastructure in Latin America is increasingly lagging behind the expansion of the financial services market as a whole. In a statement, the companies noted that while financial inclusion in Latin America has made significant gains from 2021 to 2024, with 28% of adults reaching an “advanced level of financial inclusion,” millions still lack access to modern credit and lending solutions. This issue is all the more acute due to the inability to scale those products financial institutions do offer. The integration of NovoPayment’s issuing processing with LoanPro’s credit ledger and origination, servicing, and collections solutions directly addresses these challenges.
“NovoPayment has been at the forefront of enabling financial innovation across Latin America, and their work aligns perfectly with LoanPro’s mission to modernize credit,” LoanPro CEO and Co-Founder Rhett Roberts said. “By bringing LoanPro’s lending technology into NovoPayment’s ecosystem in Latin America, we’re giving financial institutions and fintechs the tools they need to offer credit with confidence and compliance at the core.”
A leading payment processor for markets throughout Latin America, NovoPayment enables businesses and financial institutions to launch and scale their digital banking and payment offerings. The company processed more than 310 million transactions in 2024 and operates in 15 markets. Founded in 2007, NovoPayment is headquartered in Miami, Florida, and has offices in Mexico, Colombia, Peru, and Ecuador.
LoanPro made its Finovate debut as part of our all-digital FinovateSpring conference in 2021. That same year, the company also participated in our developers conference, FinDEVr 2021. Headquartered in Farmington, Utah, and founded in 2016, LoanPro serves more than 600 financial organizations, providing them with a modern credit platform that gives financial institutions and fintechs the infrastructure to manage lending and credit programs at scale, including loan origination, servicing, and collections.
FinovateSpring 2025 comes to sunny San Diego, May 7 through 9 at the Sheraton San Diego Hotel and Marina. Pick up your ticket today and take advantage of early-bird savings!
Trek partnered with Gr4vy to power an online-to-offline payment experience, offering consumers accurate inventory checks and simplified checkout.
Gr4vy’s payment orchestration dynamically routes transactions, which reduces friction, increases authorization rates, and allows Trek to manage multiple merchants efficiently.
Gr4vy provides Trek with a no-code, cloud-native platform to quickly implement diverse payment methods, comply with data laws, and enhance fraud prevention.
When it comes to buying bicycles and cycling accessories, consumers often prefer a shopping experience that takes place in multiple channels. To better accommodate these changing preferences, bicycle manufacturing company Trek has selected payments infrastructure-as-a-service (IaaS) company Gr4vy to power an online-to-offline payment experience that enables consumers to Buy-Online-Pickup-In-Store (BOPIS).
BOPIS has grown with the surge in ecommerce, along with heightened expectations of consumers, who prefer to order online and pick up in-store. In fact, 50% of shoppers select online stores based on in-store pickup availability. These changes in preferences, however, come at the same time that retailers and manufacturers are facing payment processing and inventory management challenges that pose checkout issues and stock shortages. To successfully execute BOPIS, retailers must ensure accurate inventory updates and a reliable payment system.
Gr4vy is partnered with online-to-offline shopping API solution Locally to enable Trek to show real-time inventory data from its network of retailers. This visibility allows shoppers to check stock availability on Trek’s website and complete the transaction online, while picking the item up in-store.
“Our goal is to give enterprises full control over their payment processes while removing unnecessary complexity,” said Gr4vy Founder and CEO John Lunn. “Ultimately, simplifying payments, so merchants can focus on what truly matters—growth.”
With its payment orchestration system, Gr4vy dynamically routes transactions to the optimal payment service provider to help reduce friction and increase authorization rates. When a customer completes their purchase, Trek and the local retailer receive the transaction details, and the customer can pick up their item in the store. Gr4vy’s dynamic payment routing helps Trek manage online and in-store transactions across multiple merchants of record.
Gr4vy also gives Trek a no-code method of adding multiple payment options, including digital wallets, Buy Now, Pay Later (BNPL), and alternative payment methods. “Partnering with Gr4vy has transformed how we approach payments, enabling us to seamlessly integrate options like BNPL and local shop inventory in a single checkout experience,”explained Trek Vice President of IT and Digital Steve Novoselac.
Gr4vy is cloud-native, PCI Level 1-compliant, and enables merchants to set up dedicated instances in specific regions to improve transaction speed and comply with data localization laws. Additionally, the API is set up to allow Trek to quickly implement new payment methods, currencies, and fraud prevention tools.
Founded in 2020, Gr4vy offers a platform that allows businesses to gain access to over 400 payment methods with a single integration. The platform also offers anti-fraud tools, and helps payment service providers optimize their payment stack without the need for IT expertise. In 2022, the California-based company was awarded Top Emerging Fintech Company at the Finovate Awards. Earlier this month, Gr4vy partnered with Australia-based New Payments Platform (NPP) Azupay to bring account-to-account payment solutions to Australian e-Commerce businesses.
