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Railz, an API developer that helps connect financial institutions and fintechs with their customers’ accounting information in real-time, has secured an investment of $12 million. The Series A round, led by Nyca Partners, takes the Toronto, Ontario, Canada-based company’s total funding to more than $15 million. “While there are many players who focus on collecting Read more…
Payments network Ripple is bolstering its ranks this week with the appointment of Kristina Campbell as CFO. Campbell has been tapped to drive Ripple’s financial strategy, accelerate growth, and deliver value to shareholders. She most recently served as CFO at PayNearMe and has also held multiple roles at GreenDot. “Digital asset technology allows us to Read more…
Mexico is known for a lot of things. The region is blessed with a rich food and drink culture, is home to historic Mayan temples, offers beautiful cenotes, and is lined with picturesque beaches. Typically, Mexico is not associated with being a global fintech hot spot. However, the region is prime for growth. Half of Read more…
A new challenger bank launched this week with the goal of serving the needs of Latin American consumers in the U.S. Built on Galileo’s payment processing platform, Miami, Florida-based Fortú is dedicated to providing culturally-contextual financial and banking services to the country’s growing Latino and Hispanic populations. Fortú co-founders Charles Yim and Apoio Doca bring Read more…
The banking and finance industry has always been capable of adapting. But as the world recovers from the pandemic, banking and financial services face a new disruption from fintechs and “neobanks.”
Of all the trends accelerated by the global pandemic, enhancing customer engagement may be both the most critical and the most enduring as we transition toward a post-COVID world. In the latest edition of his Finovate Podcast, host Greg Palmer talks with Crayon Data founder and CEO Suresh Shankar about his takeaways from 2020 and Read more…
In a round led by Meritech and Greylock, Canada-based fintech Wealthsimple has secured $610 million (C$750 million) in funding. The investment takes the online brokerage’s total capital to more than $1 billion, more than triples the company’s most recent valuation to $4 billion, and represents one of the largest financings for a Canadian technology company Read more…
From U.K.-based Standard Chartered to Germany’s Deutsche Bank, banks around the world are adapting to the post-COVID world with fewer branches. In separate announcements only a few days a part, two of the globe’s bigger banking presences (Standard Chartered is the 44th biggest bank in the world by total assets; Deutsche Bank is ranked 21st) Read more…
Cloud native core banking technology innovator Thought Machine has partnered with international payments company Wise (formerly Transferwise) in a deal that will enable banks, fintechs, and other financial institutions that are using ThoughtMachine’s core banking engine, Vault, to take advantage of the low-cost international fund transfer services provided by Wise. “We have built a world-class Read more…
Today brings yet another indication that QR codes are back in style. Fiserv announced it is partnering with PayPal to enable businesses to use QR codes to offer touch-free payments at the point of sale. Through the partnership, small and mid-sized businesses using Fiserv’s Clover point of sale and large enterprises leveraging the company’s Carat Read more…
When it comes to European wealthtech companies, Nutmeg is the original gangster. The London-based company was founded in 2011 and demoed at FinovateEurope a year later in 2012. Today, the company reached a milestone, topping almost $4.2 billion (£3 billion) in assets under management. The news comes after the company experienced a 72% year-on-year growth Read more…
In a round led by Tiger Global, financial services and technology company Brex has raised $425 million, boosting its valuation to more than $7.4 billion. “Our investors – new and existing – believe in our team, our business model, our product vision, our customers, and the future of Brex,” company co-CEO Henrique Dubugras said. “We Read more…