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Hours after I published a piece highlighting summer acquisition activity in fintech, I woke up to this news: global digital commerce company Payoneer announced today that it has acquired HR platform Skuad. While the purchase is slated for $61 million in cash, it could close for as much as $81 million. That’s because Payoneer may Read more…
The summer heat usually comes with a slowing of news activity, and while this is generally still holding true this summer, there have been some notable merger and acquisition activity throughout the past few months. This season, the fintech landscape has had its fair share of strategic moves, as companies look to expand their capabilities, Read more…
Here’s some funding news that slipped beneath our radar this summer: AI-powered customer analytics platform unitQ has secured an investment from Zendesk Ventures. The amount of the funding was not disclosed, but it turns Zendesk from a unitQ customer into a strategic investor, as well. “We chose unitQ after evaluating and trying different solutions in Read more…
A major sell-off in the stock market is giving investors jitters as August begins in earnest. Funding news for companies in lending and wealth management leads the fintech news this week. Be sure to check back over the next few days for the latest updates and announcements. Lending U.K.-based SME lender Shawbrook partners with nCino Read more…
Comarch, an IT solutions provider and systems integrator based in Poland, has forged a strategic partnership with DSK Bank. The partnership will accelerate the Bulgaria-based financial institution’s ongoing strategic digitalization efforts, which began in earnest in 2021. “We are delighted to support DSK Bank in achieving its digitalization goals with our cutting-edge IT solutions,” Comarch Read more…
AI-powered financial crime detection technology company, ThetaRay, has acquired European screening company, Screena. Terms of the transaction were not disclosed. Screena specializes in screening individuals, companies, and other entities against sanctioned party lists. The company’s APIs support syntactic, phonetic, and semantic matching, as well as multicultural recognition services. Each of these technologies is valuable at Read more…
Financial infrastructure company Stripe is adding to its expertise this week with the acquisition of merchant of record (MoR) service company Lemon Squeezy. Terms of the deal were not disclosed. Lemon Squeezy was founded in 2020 to help companies selling digital products globally with its subscription billing plans, payments tools, online storefront builder, checkout overlays, Read more…
U.K.-based online investing and saving platform Wealthify has appointed Richard Ambrose as its new Chief Executive Officer. Ambrose replaces Andy Russell, who had served as CEO of the company since the summer of 2020. “It’s been a privilege to lead Wealthify over the last four years,” outgoing CEO Andy Russell said. “I am very proud Read more…
Courtesy of a partnership with Billtrust, U.S. Bank has launched its new comprehensive accounts receivable (AR) platform. U.S. Bank Advanced Receivables will help suppliers accelerate cash flow, lower costs via automation, and provide better payment experiences. “Suppliers face many challenges from the time they receive an order until the cash is in their account. This Read more…
CrowdStrike’s update to its flagship cybersecurity product, Falcon Sensor, late last week caused an impressive amount of panic across a wide swath of industries. Many computers running Microsoft were stuck on the “blue screen of death” (BSoD), which would not allow users’ computers to load. Immediately, the update caused flight cancellations, train delays, broadcasting problems, Read more…
A nearly ten-year old acquisition may turn out to be Klarna’s secret weapon to improve security during the checkout process. The Swedish payments company announced this week that it has integrated a new payment service into its Klarna Pay Now product suite. The integration is designed to improve checkout security and has been made possible Read more…
The week begins as banks, fintechs, and financial services companies alike work to recover from Friday’s historic IT outage. Be sure to check back throughout the week as we continue to track the latest in fintech news and announcements. Cybersecurity BBVA inks agreement with Telefónica Tech; opens international cybersecurity center in Mexico. Galileo Financial Technologies Read more…