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“China-backed and Africa-focused” is a way to describe much of the investment that has poured into sub-Saharan Africa in recent years. This week’s news that African-based fintech platform OPay is in the process of raising $400 million in new funding – giving the firm a valuation of $1.5 billion – is the latest example of Read more…
Global payments platform Flywire began trading on the Nasdaq today under the ticker FLYW. The Boston, Massachusetts-based company is offering 10,440,000 shares of its stock at $24 per share and expects to raise about $300 million with a market capitalization of $3 billion. These figures are at the top range of what Flywire originally expected; Read more…
In a round led by One Peak, and featuring participation from Infravia Growth Capital, Hermès GPE, Plug and Play, and others, U.K.-based mobile payments platform Paysend has secured $125 million in Series B funding. The round takes the company’s total capital to more than $700 million according to estimates from TechCrunch, and puts the firm Read more…
Global financial services company Revolut added an invoice creation tool for its Revolut Business clients today. The added capability enables businesses to create, send, and reconcile invoices from within the Revolut app. By using Revolut’s invoice tool, the fintech’s business banking clients are able to send their customers professional-looking invoices with customized branding. The tool Read more…
Online payments technology provider Zip has agreed to fully acquire remaining shares of BNPL players Twisto and Spotii. The acquisitions are expected to close for $109 million and $16.3 million, respectively. By purchasing Czech Republic-based Twisto and United Arab Emirates-based Spotii, Australia-based Zip will grow its global presence. Specifically, the deal enables Zip to extend Read more…
Irish regtech Fenergo has agreed to be acquired by a pair of private equity firms, Astorg of Paris and Bridgepoint of London. The deal, which involved selling a majority take worth $600 million, values Fenergo at $1.1 billion (€900m), and will give the company additional capacity to “make strategic acquisitions and stay ahead of the Read more…
A pair of identity solution providers – Ping Identity and ProofID – have partnered to enhance identity security for U.K.-based Tesco Bank. The banking division of Tesco, the largest supermarket retailer in the U.K., Tesco Bank deployed both Ping Identity’s PingAccess and PingFederate to secure key applications. With ProofID as the bank’s implementation partner, the Read more…
Multi-currency accounts are expanding beyond the realm of fintechs. This week, HSBC U.S. is launching a multi-currency digital wallet. The new offering, HSBC Global Wallet, will enable U.S. business banking users to exchange foreign currencies and make transactions across borders without using third party tools. The wallet, which is also being rolled out in the Read more…
In a round featuring new investors Saints Fund and Eric Benhamou of Benhamou Global Ventures, cross-border transaction monitoring solution provider ThetaRay has raised $31 million in new funding. Led by JVP and BGV Funds, the investment round also featured participation from current investors OurCrowd, Bank Hapoalim, SBT, and others. The funding takes the Israel-based company’s Read more…
In a round led by SoftBank Vision Fund 2, online fraud and abuse prevention specialist Arkose Labs has raised $70 million in Series C funding. The San Francisco, California-based company will use the additional capital to support platform development, hire new talent, and fuel global expansion. This week’s investment takes Arkose Labs’ total capital to Read more…
In a round led by Group 11, banking app Lili has secured $55 million in Series B funding. The capital will help the New York-based fintech grow its product range over the next few months. This will include the addition of new features for invoice and payment management and a new loans product. “We’ve created Read more…
Self-proclaimed “financial super-app” Curve announced it will soon go live with a crowdfunding campaign. The campaign, which will launch “sometime in May,” will be held on Crowdcube and will enable Curve’s more than two million customers to invest and be part of its journey. Curve will use the funds to fuel its launch into the Read more…