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Envestnet launched its Wealth Data Platform this week. Powered by Snowflake, Envestnet’s enhanced platform gives financial advisors a more comprehensive view of clients’ finances Envestnet made its Finovate debut in 2016 at FinovateEurope, one year after acquiring Yodlee for $660 million. With the launch of its Wealth Data Platform this week, Envestnet has enhanced its Read more…
SME financing platform Crowdz has teamed up with London-based GoCardless. The partnership will enable Crowdz to leverage open banking to enhance its ability to provide small businesses with working capital. Headquartered in Campbell, California, and founded in 2015, Crowdz made its Finovate debut at FinovateEurope 2020 in Berlin. Small business financing platform Crowdz has partnered Read more…
Currency management automation innovator Kantox has agreed to be acquired by BNP Paribas. BNP Paribas will pay $133 million (€120 million) for the London-based company, which made its Finovate debut in 2013 at FinovateEurope. BNP Paribas said the acquisition represents its commitment to building, long-lasting relationships with fintechs. London-based, currency management automation company Kantox has Read more…
Cross border payments company Airwallex raised $100 million on a valuation of $5.5 billion. The funding round was an extension of the company’s Series E round. Airwallex has raised a total of $900 million in funding. Headquartered in Melbourne, Australia, Airwallex was founded in 2015. Co-founder Jack Zhang is CEO. Cross-border payments company Airwallex has Read more…
2022 marks the fourth year in a row in which Finovate alums have raised $1 billion or more in equity funding in the third quarter. The number of alums reporting investments in Q3 this year was lower than in previous years, and much of the quarter’s lofty fundraising total comes from a single, sizable investment Read more…
Financial solutions provider Finastra announced a strategic collaboration with digital trade finance network Contour. Finastra also announced a partnership with India’s Kotak Mahindra Bank, bringing its Unified Corporate Portal solution to support the institution’s corporate banking portal Kotak FYN. Formed via a merger between Misys and D+H in 2017, Finastra also recently announced the appointment Read more…
Hong Kong-based digital asset investment startup xalts received $6 million in funding. The round was co-led by Citi Ventures and Accel. The investment marks a first for Citi; it is the first digital asset manager in which the bank-owned venture firm has invested. Digital asset investing company xalts landed $6 million in funding in a Read more…
Crypto friendly banking platform Juno has raised $18 million. The Series A round was led by ParaFi Capital ‘s Growth Fund. The fundraising included a sizable number of investors including Greycroft, Antler Global, Hashed, Jump Crypto, Mithril, 6th Man Ventures, Abstract Ventures,, and Uncorrelated Fund. As part of the investment, Juno announced the launch of Read more…
Lemonade is expanding into the U.K. today. Today’s global expansion marks Lemonade’s fourth European country. In addition to the U.S. and U.K., Lemonade is also available in France, Germany, and the Netherlands. Lemonade entered the insurance sector with its flagship renters insurance offering in 2015 and now has a market capitalization of $1.54 billion. U.S. Read more…
Private Equity Firm EQT has agreed to acquire B2B accounts receivable and payments company Billtrust. The deal is expected to close in the first quarter of next year for $1.7 billion. This move will take Billtrust back to a privately-held company, following its public debut on the NASDAQ in 2020 after closing a SPAC merger. Read more…
HSBC has tapped Nova Credit to integrate the company’s Credit Passport, a cross-border credit data product. As part of the partnership, Nova Credit received a $10 million investment, bringing its total funding to more than $79 million. HSBC deployed Nova Credit’s Credit Passport at HSBC Singapore in May and plans to expand its use of Read more…
Bank of America launched a new QR code sign-in for its CashPro offering. Paired with biometrics, the new sign-in option takes advantage of the trend in favor of QR code technology as a verification and log-in solution. Bank of America’s CashPro has received recognition from Celent, Global Finance magazine, The Asian Banker, and Treasury Management Read more…