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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 Read more…
In one of the first big fintech acquisitions of the year, Wealthfront has agreed to be acquired by global investment bank and financial services company UBS. Valued at $1.4 billion, the all-cash deal represents a premium of at least 2x on Wealthfront’s most recent private market valuations, and underscores UBS’s determination to attract younger, high Read more…
San Francisco, California-based finech Brex, which offers enterprise solutions from business accounts and credit cards to spend management tools, is partnering with password manager 1Password to streamline and better secure online payments. Courtesy of the new integration, consumers will be able to complete online payments faster and more securely by automatically syncing customer data stored Read more…
Earlier this week Routefusion, a company that helps financial services companies with global expansion, raised $10.5 million. The Seed round was co-led by Canvas Ventures and Silverton Partners. Haymaker Ventures, Initialized Capital, Sherwin Gandi, and Aldrin Clement also participated. The new capital boosts Routefusion’s total funding to over $14 million. The company will use the Read more…
Just when you might have thought that the momentum behind the Buy Now Pay Later phenomenon might be waning, banking software company Temenos announced today that it is launching its own BNPL offering. Temenos brings its patented Explainable AI technology to the BNPL party with its Temenos BNPL. The company says that the new solution Read more…
Headquartered in New York City, Tern is a fintech as a service innovator dedicated to enabling startups and established financial institutions alike to launch embedded banking and payments services products. The company, founded in 2015 by CEO Brion Bonkowski, offers a multi-currency, multi-language prepaid and stored-value platform with embedded AML, KYC, CIP, and fraud mitigation Read more…
A fundraising round of $1 billion has given Checkout.com a valuation of $40 billion, more than 20x the valuation the company earned upon its first fundraising three years ago. The investment takes Checkout.com’s total capital raised to $1.8 billion, and the company said that it plans to use the funds to support growth in the Read more…
Credit card and cash management solutions company Brex closed a $300 million D-2 round today. The round, which values the company at $12.3 billion, was led by Greenoaks Capital and Technology Crossover Ventures (TCV). Brex will use the fresh capital to expand its product portfolio to serve more of companies’ financial needs. The California-based fintech’s Read more…
As we survey the damage from the pandemic and its multiple variants, technology services and consulting firm Accenture has some advice, “It is critical that every bank becomes a challenger.” In a recent report, the firm uncovered that banking has moved from vulnerable to volatile on its Disruptability Index. Underlining this point, Accenture found that Read more…
An investment of $70 million from Sumeru Equity Partners will enable online facial biometric authentication specialist iProov to expand its business in the United States, grow its worldwide partner network, and add more “top-quality staff” to its global team. “This investment by one of America’s leading growth funds recognizes the preeminent position we have established,” Read more…
Find out how to cut down on latency of getting information and data to the right people and how to do it with fewer development resources than you might like.
The news is flying a bit under the radar. But from China to Bahrain to Jamaica, central banks are beginning 2022 having made major moves recently in support of digital assets. We covered China’s CBDC announcement earlier this week. In short, the People’s Bank of China, the country’s central bank, made its digital yuan wallet Read more…