Finovate Global Saudi Arabia: Embedded Finance, Digital Payments, and Lending

Finovate Global Saudi Arabia: Embedded Finance, Digital Payments, and Lending

This week’s edition of Finovate Global looks at recent fintech news from the Kingdom of Saudi Arabia (KSA).


Saudi fintech HALA raises $157 million to fuel embedded finance

Saudi Arabia-based fintech and embedded financial services provider HALA has raised $157 million in Series B funding. The round is being billed as one of the largest fintech Series B rounds to date for a company based in the Middle East. Led by The Rise Fund and Sanabil Investments, the investment will be used to enhance HALA’s position in the Saudi market. This includes empowering the company to launch more embedded financial services and lending products to support micro, small, and medium-sized (MSM) enterprises, as well as freelancers, in the region.

Founded in 2017 and headquartered in Riyadh, HALA offers a comprehensive embedded financial services including business accounts; card issuance, payment and transfer services; POS solutions, financing, and corporate cards. To date, HALA has supported more than 150,000 businesses and processed more than $8 billion in annual transactions.

“This landmark investment is a turning point for HALA, reflecting on our relentless pursuit of innovation and excellence in serving small businesses,” HALA Co-founder and Chairman Esam Alnahdi said. “We are honored that our new investors recognize the potential of our vision and the impact we aspire to make in the MSME landscape. Our journey is just beginning, and this support fuels our drive to create meaningful change.”

Also participating in the investment were QED, Raed Ventures, Impact46, Middle East Venture Partners (MEVP), Isometry Capital, Arzan VC, BNVT Capital, Kaltaire Investments, Endeavor Catalyst, Nour Nouf Ventures, Khwarizmi Ventures, and Wamda Capital.


Paymentology teams up with Enjaz to enhance digital payments in Saudi Arabia

A Memorandum of Understanding (MoU) between international card issuer processor Paymentology and payments solutions company Enjaz is designed to bring advanced digital payments to consumers in Saudi Arabia.

“At Enjaz, our focus has always been on giving our customers speed, convenience, and security, whether they are transferring money abroad or making everyday payments,” Enjaz CEO Bassam AlEidy said. “By collaborating with Paymentology, we can now extend our card services that expand choice and enhance financial freedom. This partnership represents a major step in shaping the future of payments in Saudi Arabia, delivering innovation that is inclusive, dynamic, and tailored to the needs of our market.”

Integrating Paymentology’s issuing and processing platform will enable Enjaz to offer prepaid, debit, and virtual cards, all of which will seamlessly integrate with the company’s current services. The partnership will also bring functionalities such as international and domestic scheme enablement; tokenization for Apple Pay, Google Pay, Samsung Pay, and Mada Pay, as well as tools to boost security and enable real-time decisioning. Enjaz will also be able to leverage its new relationship with Paymentology to offer features such as loyalty programs and multi-currency wallets.

“Saudi Arabia is building one of the world’s most dynamic payments ecosystems under Vision 2030. Enjaz’s ambition adds to that momentum, and Paymentology’s role is to power innovators with secure, scalable issuing. Together with Enjaz, we’ll expand choice, accelerate time-to-market, and raise the bar for customer experience in the region,” Paymentology CEO Jeff Parker said.

Enjaz was established in 2022 as a wholly-owned payments arm of Bank Albilad. The firm is licensed by the Saudi Central Bank as a Major Electronic Money Institution (EMI). The partnership with Paymentology comes at a time when the Saudi Central Bank is reporting that electronic payments represented 79% of total retail transactions in 2024, up from 70% in the previous year.


Riyadh-based financial services enabler Abwab.ai forges strategic partnership with Tuum

Abwab.ai, a financial services company that specializes in credit decisioning, risk management, and customer engagement solutions, has announced a strategic partnership with core banking platform provider and Finovate Best of Show winner Tuum. The partnership will enable Abwab.ai to deliver a seamless, end-to-end digital lending solution for small and medium enterprises (SMEs) throughout the Gulf Cooperation Council (GCC).

“SMEs are the backbone of every economy, yet they remain underserved by traditional lenders,” Abwab.ai Founder and CEO Baraa Koshak said. “By combining Abwab.ai’s AI-driven intelligence with Tuum’s next-generation core banking capabilities, we are empowering financial institutions to unlock SME growth at scale.”

Founded in 2022 by a team that includes technology veterans from companies like NVIDIA and HALA, Abwab.ai offers an underwriting automation platform that helps lenders make better decisions by transforming unstructured data into actionable insights. The combination of Abwab.ai’s credit decisioning and analytics capabilities with Tuum’s modular core banking and lending platform will help financial institutions launch, scale, and optimize their SME lending products faster, more efficiently, and with greater transparency.

“Our mission at Tuum is to modernize financial services with modular technology,” Tuum Chief Revenue Officer Miljan Stamenkovic said. “Partnering with Abwab.ai allows us to bring a truly end-to-end, AI-enhanced SME lending solution to the region, one that addresses a real market need and accelerates digital transformation.”

UK-based Tuum won Best of Show in its Finovate debut at FinovateEurope 2024. At the conference, the company showed how its modular, cloud-native, API-first banking platform leveraged its microservices architecture to deliver high scalability and flexibility, as well as lower maintenance costs.


Here is our look at fintech innovation around the world.

Asia-Pacific

Sub-Saharan Africa

  • Premier Credit Uganda raised $1.5 million from Swiss-based investor, Enabling Qapital.
  • EBANX announced an integration with South Africa-based, real-time, open banking payment method, Capitec Pay
  • South African fintech Street Wallet acquired Digitip, a South African startup that enabled informal works to receive tips digitally.

Central and Eastern Europe

Middle East and Northern Africa

  • valU introduced Egypt’s first licensed Buy Now, Pay Later service, on digital marketplace Noon.
  • MENA-based financial infrastructure provider Lean Technologies teamed up with Know Your Payee (KYP) solutions company iPiD.
  • UAE-based fintech Kamel Pay secured In-Principle Approval from the country’s central bank for both Stored Value Facilities (SVF) and Retail Payment Services (RPS) licenses.

Central and Southern Asia

  • TechCrunch profiled Jar, an India-based fintech that enables its users to invest in gold via its app, that recently announced reaching profitability.
  • Kazakhstan’s third-largest bank, Bank CenterCredit (BCC) turned to core banking provider Tuum to power its new Banking-as-a-Service (BaaS) proposition.
  • Bank of India launched its BOI Trade Easy instant loan offering in partnership with Cashinvoice.

Latin America and the Caribbean

  • Mexican fintech Klar acquired digital bank Bineo from Grupo Financiero Banorte.
  • Mercado Pago, the financial arm of Latin American e-commerce company Mercado Libre, acquired Brazil-based distributor of investment products Nikos DTVM.
  • Cryptocurrency exchange Binance launched its Mexican entity Medá to help advance demand for the company’s services throughout Latin America.

Photo by backer Sha on Unsplash

Fintech Rundown: A Rapid Review of Weekly News

Fintech Rundown: A Rapid Review of Weekly News

A holiday-shortened week begins with Independence Day in the US celebrated on Friday. Be sure to check with Finovate’s Fintech Rundown for the latest fintech news as the second half of 2025 gets underway in earnest!


Digital banking

Greece-based core banking vendor Natech raises $33 million in Series B funding.

Core banking platform Tuum forges strategic partnership with Romanian bank maib. Tuum won Best of Show at FinovateEurope 2024.

Qonto files for banking license as it reaches 600,000 customers.

Fraud prevention

Trade surveillance and financial risk solutions company Eventus partners with trading platform Blue Ocean Technologies.

Credit and analytics

SaaS commercial credit bureau CreditProtect goes live with support from Experian.

Financial empowerment platform partners with transaction enrichment and insights and analytics specialist Bud Financial.

Crypto and DeFi

Identity and payments platform Bolt unveils Bolt Connect to streamline the onboarding process for merchants and integrate stablecoin payments.

Wirex announces that its Wirex Pay Chain is now supported on digital asset and payments infrastructure platform Fireblocks.

Cryptocurrency trading platform Kraken secures a Markets in Crypto Assets (MiCA) license in Ireland.

Small business solutions

Spend management platform Spendbase introduces new digital banking and virtual cards.

Payments

InComm and NCR Atleos team up to launch a suite of new self-service ATM solutions across the US.

Papaya Global works with Citi to enhance global payments ecosystem.

Yaspa receives $12 million investment for its instant payment and identity services.


Photo by Chris Hardy on Unsplash

Fintech Rundown: A Rapid Review of Weekly News

Fintech Rundown: A Rapid Review of Weekly News

The UK is looking to regulate Buy Now, Pay Later lenders. Meanwhile in the US, the Consumer Financial Protection Bureau is reducing fines on previous enforcement actions. It’s a tale of two very different regulatory trends depending on which side of the Atlantic you’re on.

We’ve got the latest regtech news along with the rest of the top headlines in fintech right here in this week’s edition of the Fintech Rundown!


Payments

Ripple reports that Zand Bank and fintech platform Mamo have deployed its blockchain-enabled payments solution, the first UAE-based financial institutions to do so.

French fintech Next Generation chooses enterprise platform Fireblocks to power its payment ecosystem.

Global Payments unveils new POS command center for business operations, Genius.

PayPal launches its Complete Payments service in Singapore.

Albertsons Companies offers invoice-based payment for its business customers courtesy of its partnership with TreviPay.

AAA Life Insurance partners with payments network One Inc. to support digital payment processing.

Digital banking

Finovate Best of Show winner Tuum launches suite of Islamic Banking solutions to enable financial institutions to offer more Sharia-compliant banking products.

Fraud prevention

Money and safety app for families, Greenlight, introduces Family Shield to help caregivers protect seniors from financial fraud.

Identity verification and fraud prevention services provider AU10TIX launches continuous AML risk monitoring.

MRI Software integrates Nova Credit’s Income Navigator into its fraud prevention and application qualification solution.

DeFi / crypto

Non-custodial stablecoin wallet MiniPay is now available as a standalone application on iOS devices.

Investment / wealth management

U.S. Bank Global Fund Services turns to Fenergo to digitize and streamline its investor onboarding and service experience.

Regtech

Risk management company EverC launches its AI-powered risk assessment solution for marketplaces, Smart Scan.


Photo by Martin Damboldt

Tuum and Sumsub Team Up to Enhance Fraud Prevention for Financial Institutions

Tuum and Sumsub Team Up to Enhance Fraud Prevention for Financial Institutions
  • Core banking provider Tuum and verification platform Sumsub announced a partnership this week.
  • The collaboration will help banks, fintechs, and financial institutions enhance fraud prevention without compromising the user experience.
  • Tuum won Best of Show in its Finovate debut at FinovateEurope 2024 in London. Sumsub made its Finovate debut at FinovateEurope 2020 in Berlin.

A newly announced partnership between core banking provider Tuum and full-cycle verification platform Sumsub will give banks, fintechs, and financial institutions the ability to streamline customer onboarding and enhance fraud prevention without adding friction to the user experience.

The integration of Sumsub’s compliance solutions will help financial institutions deal with the growing threat of fraud and financial crime. This includes a global, fourfold increase in AI-driven deepfake scams. Adding to this challenge is the proliferation of new regulations that are tightening compliance requirements and mandating greater security and operational resilience.

“Regulatory compliance and fraud prevention are no longer just obligations—they are critical to long-term success in financial services,” Tuum Partnerships Director Peter DeSouza said. “With new frameworks like PSD3 and DORA shaping the industry, banks and fintechs must embed resilience, security, and real-time fraud detection into their core operations.”

Through the partnership, banks and fintechs working with Tuum will benefit from automated identity verification and AI-powered fraud detection and transaction monitoring. This will enable them to onboard customers faster and comply with international KYC/AML regulations. Tuum-powered institutions will also benefit from the ability to securely scale and operate in multiple markets thanks to real-time decisioning and continuous risk monitoring.

“As financial institutions navigate increasingly complex regulatory landscapes, seamless compliance and fraud prevention are more critical than ever,” Sumsub Business Development Director for EU/UK Julia Bonda said. “Over three-quarters of fraud now occurs beyond the onboarding stage, with identity fraud in Europe surging by 150% year-over-year in 2024.”

Making its Finovate debut at FinovateEurope 2020 in Berlin, Sumsub offers a full-cycle verification platform including customizable solutions for KYC, KYB, transaction monitoring, and fraud prevention. Founded in 2015, the company has more than 4,000 clients in industries such as fintech, trading, e-commerce, crypto, transportation, education, and more. Sumsub’s customers include Bitpanda, Bybit, Wirex, and TransferGo. Andrew Sever is the company’s Founder and CEO.

Of late, Sumsub has forged partnerships with the Association of Fintechs in Kenya (AFIK), workforce payroll and payments platform Papaya Global, and Latin America-based corporate expense management company Clara. Most recently, the company announced a partnership with Duolingo to bolster security for the language-learning app’s English language proficiency test, the DET.

Headquartered in the UK and Estonia, Tuum won Best of Show in its Finovate debut at FinovateEurope 2024. At the conference, the company demonstrated how its modular, cloud-native, API-first banking platform leverages a microservices architecture to provide high scalability and flexibility along with lower maintenance costs. In the year since then, Tuum has secured partnerships with numerous fintechs including TransactionLink, CREALOGIX, DDCAP ETHOS, Ozone API, Flexys, ComplyAdvantage, and audax. The company was founded in 2019. Myles Bertrand is CEO.


Photo by Marlene Leppänen

Tuum Teams Up with Debt Management Specialist Flexys

Tuum Teams Up with Debt Management Specialist Flexys
  • Core banking platform provider Tuum announced a partnership with debt management specialist Flexys.
  • The partnership will help banks improve their debt collection workflows.
  • Tuum won Best of Show in its Finovate debut at FinovateEurope earlier this year.

U.K.-based core banking platform Tuum has teamed up with debt management specialist Flexys. The partnership will help banks streamline and enhance their debt collection processes at a time when legacy core systems are limiting financial institutions’ ability to better serve their customers. These “old cores” also make it more difficult for FIs to keep up with stricter regulations surrounding credit and debt management.

“Flexys and Tuum are tackling debt management pain points head-on,” Tuum VP of Global Partnerships Jean Souto said. “Our partnership gives banks high-tech tools to streamline collections from end-to-end, reducing hassles through automation – a win for everyone involved.”

The partnership will help banks deal with the dual problem of tightening regulations and outdated, cumbersome debt management technology. Not only can legacy core systems inhibit the ability of financial institutions to readily meet compliance requirements, they can also fall short when it comes to providing more personalized service to customers. Integrating the two platforms enables FIs to swap out their old core systems in favor of cloud-based, debt collection workflows, and benefit from real-time data to help personalize the experience for each customer.

“We’re thrilled to team up with Tuum and help banks break out of the legacy debt management rut,” Flexys CEO James Hill said. “With our integrated platforms, lenders can ditch inefficient processes in favor of frictionless digital experiences that genuinely support customers when they need it most.”

U.K.-based Flexys offers state-of-the-art debt management solutions that enable financial institutions to automate and digitize their customer interactions. The company’s flagship offering, Control+, is a cloud-native, real-time, “intelligent debt resolution” platform that provides enterprise-grade collections functionality from digital self-serve to agent management and recoveries. Founded in 2016, Flexys began this year partnering with another Finovate alum, Thought Machine, which integrated Flexys’ Control+ platform into its core banking solution, Vault Core.

Tuum made its Finovate debut at FinovateEurope 2024, winning Best of Show in its demonstration of its modular, cloud-native, API-first banking platform. In the months since then, the company has forged partnerships with Islamic fintech solution provider DDCAP Group, digital banking and wealth management firm CREALOGIX, and KYB/KYC automation solutions company TransactionLink. In June, Tuum announced a strategic partnership with open banking company Ozone API. The union will help Tuum’s bank and financial institution customers comply with open banking regulations.

“Our collaboration with Tuum marks a new chapter for open banking and finance globally,” said James Bushby, Ozone API GM for Europe and Global Partnership Lead. “Our combined strengths will enable financial institutions to tackle compliance challenges while harnessing the immense opportunities of open banking.”

Founded in 2019, Tuum has raised more than $48 million in funding according to Crunchbase. In March, the company announced that Citi Ventures has become a strategic investor in the firm as a follow-on to its Series B round.


Photo by micheile henderson on Unsplash

Greg Palmer and the Finovate Podcast: Financial Literacy, Core Banking, and Deepfake Detection

Greg Palmer and the Finovate Podcast: Financial Literacy, Core Banking, and Deepfake Detection

Finovate VP and host of the Finovate podcast Greg Palmer continues his conversations with Best of Show winning companies from FinovateEurope.

Join Greg as he talks about the next generation of investment and wealth management content with Salman Hussain of Zeed, the value of flexibility in core banking with Richard Weston of Tuum, and the challenge of identity theft, deep fakes, and the escalating AI arms race with Gal Haselkorn of Corsound.ai.


Greg Palmer interviews Salman Hussain, co-founder of Zeed. The company enables retail investors to engage with financial content by leveraging interactive AI. Zeed’s technology also enables issuers to deploy these AI-based tools to educate and grow their retail investor base. Demo video.

Episode 211 – Salman Hussain, Zeed


Greg Palmer talks with Richard Weston, Sales Director with Tuum, on the latest innovations in core banking technology. With a strong focus on the U.K. and the Nordics, Tuum is a next generation core banking software provider that helps banks modernize their systems, open new revenue streams, and build new business models. Demo video.

Episode 210 – Richard Weston, Tuum


Greg Palmer catches up with Corsound AI CEO Gal Haselkorn to discuss cutting-edge developments in voice intelligence and deepfake detection. Corsound AI, headquartered in Tel Aviv, Israel, offers a real-time deepfake detection solution that provides immediate threat mitigation for a robust defense against emerging security threats. Demo video.

Episode 209 – Gal Haselkorn, Corsound.ai


Photo by Will Francis on Unsplash

Tuum Raises Funds for its API-First Core Banking Tech

Tuum Raises Funds for its API-First Core Banking Tech
  • Tuum received a strategic investment from Citi Ventures in a Series B follow-on round.
  • The amount of today’s installment was undisclosed, and boosts the company’s total funds to more than $49 million (€45 million).
  • Citi Ventures plans to introduce Tuum to key stakeholders within Citibank and gauge interest in commercialization opportunities.

API-based core banking provider Tuum announced today that it has secured additional funding as part of its Series B round. This strategic investment from Citi Ventures, the amount of which was undisclosed, brings the company’s total funding to over $49 million (€45 million).

Tuum, which won Best of Show honors at last month’s FinovateEurope event, received $27 million (€25 million) in funding at the start of February in a Series B round led by CommerzVentures. Tuum plans to use the funds to fuel product and market development and to expand its international presence into the DACH region, Southern Europe, and the Middle East.

As part of Citi Ventures’ role as strategic investor, the firm plans to introduce Tuum to key stakeholders within Citibank and gauge interest in commercialization opportunities.

“At Citi Ventures, we have been tracking the modernization of core banking tech stacks for years,” said the firm’s Managing Director responsible for fintech investments globally Luis Valdich. “After exploring numerous opportunities to invest in next-gen core banking providers, we are excited to invest in Tuum, whose API-first, cloud-agnostic and modular platform promises to strike an optimal balance between no-code hyper-configurability and total cost of ownership that can help accelerate this long overdue transformation across the industry.”

Estonia-based Tuum was launched under the name Modularbank in 2019. With 100 employees, the company aims to help banks replace their legacy systems, reduce spending on maintenance, and quickly adapt to changing trends. Tuum’s technology extends beyond core replacement to help banks add accounts, lending, payments, and card offerings. In addition, the company offers customers access to range of third-party tools through its partner marketplace, which includes solutions from AMLYZE, Salt Edge, NTT Data, Entersekt, and others .

Tuum’s clients come from a range of 10 countries, but primarily hail from the U.K. and the Nordic region. The company launched just in time to leverage the digital transformation frenzy that took place in 2020. Since that time, Tuum’s revenue has more than doubled each year on average over a three-year period, resulting in an overall revenue increase of more than 2.5 times.

The video of Tuum’s demo from FinovateEurope will be available in the coming days.

FinovateEurope 2024 Best of Show Winners Announced

FinovateEurope 2024 Best of Show Winners Announced

Day One of FinovateEurope 2024 is in the books! That means it’s time to find out which demoing companies made the greatest impressions on our Finovate audience – earning our coveted Best of Show award.


Corsound AI for its technology that helps businesses fortify their security measures against voice-related fraud. Video.

Tuum for its solution that allows banks to orchestrate new businesses and business models, unlocking new revenue streams. Video.

Zeed for its platform that enables public companies and asset managers to reach and engage retail investors by leveraging video content. Video.

Thanks to all of the companies that demonstrated their latest technologies live on the Finovate stage on Tuesday. The diverse array of fintech innovations – from new ways to combat fraud to solutions that help banks attract new customers and boost revenues – was a great sign of where our industry is today, and where it appears to be headed.

Be sure to check out our FinovateEurope 2024 recap next Monday as we look back at some of the key themes and issues raised in this week’s conference.


Notes on methodology:
1. Only audience members NOT associated with demoing companies were eligible to vote. Finovate employees did not vote.
2. Attendees were encouraged to note their favorites during each day. At the end of the last demo, they chose their three favorites.
3. The exact written instructions given to attendees: “Please rate (the companies) on the basis of demo quality and potential impact of the innovation demoed.”
4. The three companies appearing on the highest percentage of submitted ballots were named “Best of Show.”
5. Go here for a list of previous Best of Show winners through 2014. Best of Show winners from our 2015 through 2023 conferences are below:
FinovateEurope 2015
FinovateSpring 2015
FinovateFall 2015
FinovateEurope 2016
FinovateSpring 2016
FinovateFall 2016
FinovateAsia 2016
FinovateEurope 2017
FinovateSpring 2017
FinovateFall 2017
FinovateAsia 2017
FinovateMiddleEast 2018
FinovateEurope 2018
FinovateSpring 2018
FinovateFall 2018
FinovateAsia 2018
FinovateAfrica 2018
FinovateEurope 2019
FinovateSpring 2019
FinovateFall 2019
FinovateAsia 2019
FinovateMiddleEast 2019
FinovateEurope 2020
FinovateFall 2020
FinovateWest 2020
FinovateEurope 2021
FinovateSpring 2021
FinovateFall 2021
FinovateEurope 2022
FinovateSpring 2022
FinovateFall 2022
FinovateEurope 2023
FinovateSpring 2023
FinovateFall 2023

FinovateEurope 2024 Sneak Peek Series: Part 4

A look at the companies demoing at FinovateEurope in London on February 27. Register today using this link and save 20%.

Corsound AI

Corsound AI utilizes innovative technology to verify customers’ identities for financial institutions, leveraging over 200 patents to detect AI scams and voice fraud.

Features

  • Provides an innovative method to detect deepfakes in call centers, with or without DB
  • Delivers a revolutionary way to prevent identity theft
  • Offers a unique voice-face matching technology

Who’s it for?

Banks, credit unions, payment providers, and small-and-medium-sized businesses.

Dotfile

Dotfile is an end-to-end business verification platform that automates KYB and AML procedures, reduces fraud, and streamlines compliance operations.

Features

  • Verifies businesses and UBOs and maps corporate structures
  • Automates onboarding, from data collection to risk scoring and periodic monitoring
  • Creates flexible risk-scoring models with custom rules

Who’s it for?

Payment service providers, banks, fintechs, forex platforms, private equity firms, crypto brokers, and asset managers.

Eleos

Eleos partners with consumer brands to embed income protection and life insurance into their online journeys.

Features

  • Bridges access and awareness gap that has kept penetration of these products down
  • Adds additional revenue stream for distributors
  • Improves customer retention rate for brands

Who’s it for?

Direct to consumer fintechs.

Finerative

Finerative is a Gen-AI native startup bringing generative technology to the financial space.

Features

  • Improves productivity and operational efficiency while driving revenues
  • Increases client satisfaction
  • Delivers innovation

Who’s it for?

Universal banks, private banks, asset management entities, wealth management institutions, and independent financial advisors.

SkenarioLabs

SkenarioLabs’ predictive data analytics solution integrates an advanced suite of risk assessment and reporting tools to guide sustainable investment and lending decisions in real estate.

Features

  • Minimal data requirements: delivers accurate insights from address-only data
  • Single-platform integration: provides value, risk, & ESG assessments for all asset classes
  • Streamlined compliance: offers flexible analytics

Who’s it for?

Banks and building societies, real estate investment and advisory firms, and insurance providers.

Tuum

Tuum’s next generation core banking software platform removes legacy constraints, transforms existing business models, builds new business models, and unlocks new revenue streams. Core Banking. Without Limits .

Features

  • Delivers a cloud native, modular, API first software – unlimited scalability and flexibility
  • Features Beyond Core – accounts, lending, cards, & payments from a single platform
  • Offers a highly configurable platform – launch new products in minutes

Who’s it for?

Retail and corporate banks, EMIs, fintechs, and financial institutions.

Zeed

Zeed offers a platform for public companies and asset managers to reach, educate, and engage retail investors using AI and video content.

Features

  • Reaches and educates investors where they already are
  • Utilizes AI-generated financial video content
  • Tracks attribution to share price liquidity and AUM

Who’s it for?

Public companies, asset managers, retail investors, and brokerage platforms.

Brazil’s Creditas Earns $4.8 Billion Valuation After Securing $260 Million in New Funding

Brazil’s Creditas Earns $4.8 Billion Valuation After Securing $260 Million in New Funding

A $260 million Series F funding round has given Brazilian secured lending platform Creditas a valuation of $4.8 billion. The new capital will help the company expand its operations and provide a “one-stop solution for those seeking a digital-first experience in everything related to their houses, cars, motorcycles, and salary-based benefits.”

The round was led by Fidelity Management and Research Company and featured participation from a sizable number of investors including Actyus, Greentrail Capital, QED Investors, VEF, SoftBank Vision Fund 1, SoftBank Latin America Fund, Kaszek Ventures, Lightrock, Headline, Wellington Management, and Advent International by way of its affiliate Sunley House Capital.

The Series F brings Creditas’ total capital raised to $854 million, according to Crunchbase.

Founded in 2012 and headquartered in Sao Paulo, Brazil, Creditas announced a significant boost in revenues in the third quarter of 2021 compared to Q3 of 2020 – from $46.8 million to $14 million. Creditas founder and CEO Sergio Furio projects that the company will realize annualized revenues of $200 million for the year that just ended. Creditas also saw its credit portfolio grow from $189.3 million in Q3 2020 to $532 million in Q3 2021.

“We plan to continue growing by nurturing and expanding our ecosystem, such as providing financial solutions to our marketplace customers, launching new products, extending our geographic reach (including our recent successful entry into Mexico and the expansion of our tech hub in Valencia, Spain) and selectively pursuing strategic M&A opportunities,” Furio said in a statement.

Last fall, Creditas announced a partnership with fellow Brazilian fintech – and Finovate alum – Nubank, that will enable Nubank customers to secure loans and other services from the Creditas platform. Months earlier, Creditas acquired used car buying and selling platform Volanty. The move will help buttress Creditas’ automotive division, Creditas Auto. Also last summer, Creditas acquired multi-channel insurance brokerage company Minuto Seguros, which was also part of the company’s project to enhance its auto financing business.


FinovateEurope 2022 is right around the corner. If you are an innovative fintech company with new technology to show, then there’s no better time than now and no better forum than FinovateEurope. To learn more about how to demo your latest innovation at FinovateEurope 2022 in London, March 22-23, visit our FinovateEurope hub today!


Here is our look at fintech innovation around the world.

Central and Southern Asia

Latin America and the Caribbean

Asia-Pacfic

Sub-Saharan Africa

Central and Eastern Europe

Middle East and Northern Africa


Photo by William Brand from Pexels