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Modern card issuing platform Marqeta has come a long way since its Finovate debut in 2016. Back then, Marqeta was a six-year-old company, presenting the world’s first fully-documented, open API issuer processor platform, and emphasizing the company’s commitment to producing payments solutions that were “developer-friendly.” In fact, it was at Finovate’s developer conference, FinDEVr Silicon Read more…
TransferMate is fintech’s latest unicorn, having secured $70 million in funding this week and earning a valuation of more than $1 billion. TransferMate’s platform enables businesses and individuals to make cross-border payments in more than 201 countries and more than 140 currencies. Headquartered in Ireland, TransferMate was founded in 2010. With a new investment of Read more…
Core banking expert Thought Machine raised $160 million in Series D funding. The investment was led by Temasek and saw participation from Intesa Sanpaolo, Morgan Stanley, Eurazeo, ING, JPMorgan Chase, Lloyds Banking Group, and SEB. Thought Machine’s valuation now totals $2.7 million, double the valuation it held last fall. Core banking innovator Thought Machine landed Read more…
A $50 million investment will help Egyptian digital payments company Paymob expand into new markets in both the Middle East and Africa. The round was led by Kora Capital, PayPal Ventures, and Clay Point, and represents the largest ever Series B round in Egyptian fintech history. “Central Bank of Egypt initiatives that are continuously being Read more…
Checkout.com is acquiring online identity verification provider ubble. The move will enable Checkout.com to help its clients ensure compliance and stay ahead of changing regulations. Terms of the deal were not disclosed. Global payments solutions provider Checkout.com is boosting its digital identity expertise with the acquisition of online identity verification service provider ubble. ubble was Read more…
FIS has partnered with Treasury Prime to launch a new embedded finance offering. The new solution will give FIS’ banking customers additional options for managing deposits, AP, and other critical bank processes. The collaboration with Treasury Prime is FIS’ second big embedded finance play of the year, having acquired embedded finance solution provider Payrix in Read more…
Deserve received a $250 million credit facility from Goldman Sachs, Cross River, and Waterfall Asset Management. Last year, Deserve experienced a 650% growth in transactions volume and an 800% growth in receivables. The company will use the credit facility to meet the growing demand from financial institutions, fintechs, and consumers. Payment-card-as-a-service startup Deserve announced a Read more…
Earlier this year, PwC’s Vicki Huff Eckert published a report that looked at the impact of VC investment on the technology industry. Eckert is Vice Chair for Technology, Media, and Communications – and the global leader of New Ventures and Innovation – for PwC. She will be featured at FinovateSpring next week in San Francisco Read more…
If the boom and accompanying volatility in cryptocurrencies and NFTs leaves you uncertain, and if you’re not sure yet what to make of the metaverse, there’s a good way to separate hype from reality: follow the money.
American Express and Billtrust announced a partnership that will leverage automation to enhance acceptance of AMEX virtual cards. The collaboration is designed to meet the accounts receivable (AR) needs of suppliers who are experiencing faster payments and increased cash flow. A Finovate alum since 2015, American Express recently partnered with i2c to help fintechs and Read more…
Personetics launched its Sustainability Insights solution this week, giving consumers visibility into the carbon emissions of their spending and investments. The new offering is made possible thanks to a partnership with sustainability-as-a-service company ecolytiq. The launch of Sustainability Insights comes less than a month after the company introduced new proactive cash flow management functionality on Read more…
The news that CarbonPay has launched a new payment card that helps users determine and offset their carbon footprint is a reminder of the efforts that fintechs of all types are making to support climate sustainability. CarbonPay’s new offering, only available in the U.S. and the U.K., is a prepaid corporate card called CarbonPay Business Read more…