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HighRadius, a company that offers AI-powered order-to-cash and treasury management solutions, announced today that it has raised $125 million in Series B funding. The investment boosts the Houston, Texas-based firm’s valuation to $1 billion, earning it the status as one of the first new fintech unicorns of 2020. The round was led by Iconiq Capital, Read more…
Telecommunications giant Sprint and German financial services provider Wirecard announced they are teaming up to deliver the Internet of Payments. Under the agreement, Sprint will integrate Wirecard’s commerce solutions into its Curiosity Internet of Things (IoT) platform. Essentially, the two will embed payment capabilities into IoT deployments. Sprint’s Curiosity IoT combines Curiosity Core, a virtualized Read more…
Dutch financial services corporation ING announced today it is spinning off Katana into its own entity called Katana Labs. As a part of its move to independence, Katana has closed $3.9 million in funding, half of which ING contributed “to enable further growth and to pave the way for an independent future for Katana.” Katana Read more…
What does the fintech landscape look like for startups in 2020? Among all the forecasts and predictions we’ve been reading and re-reading, is reporting from the Wall Street Journal that suggests that fintech startups seeking successful exits may face tougher challenges in 2020 than in 2019. As the Journal’s Yuliya Chernova reports, in 2019, only Read more…
In a Series C led by Tetragon, payments innovator Ripple has picked up an investment of $200 million. Featuring participation from SBI Holdings and Route 66 Ventures, the round takes the Ripple’s total capital to more than $321 million, and gives the firm a valuation of $10 billion. In a statement, company CEO Brad Garlinghouse Read more…
IT services provider NTT Data announced today it has acquired NETE, a Virginia-based digital design services firm. The deal, which marks NTT Data’s 19th acquisition, is set to close for an undisclosed amount later this year. The company will bring on NETE’s 300 employees and will leverage NETE’s expertise in public healthcare to build out Read more…
Development platform Hydrogen is one of seven companies selected to participate in the Mastercard Start Path accelerator program. The six-month virtual program for later-stage startups is designed to help these firms scale, land strategic investments, and forge key relationships with some of the world’s largest banks and FIs. “We are proud to be part of Read more…
A partnership between digital trading technology company DriveWealth and India’s SV Capital will allow two of India’s largest stock brokers – Stockal and HDFC Securities – to offer their investors greater access to the U.S. stock market. The brokerage firms will leverage DriveWealth’s technology and brokerage execution, including its fractional share offering, to make it Read more…
One of the largest insurance groups in Asia, Sompo Holdings, is turning to AI to help its field sales teams spend less time consulting and updating customer information on databases, and more time building relationships with actual customers. The Japan-based insurer announced that it has partnered with Vymo to use the company’s AI-powered, mobile-first sales Read more…
Having already worked with Amazon in the past, Swedish banking firm Klarna has reinforced its reliance on Amazon Web Services (AWS) to increase redundancy and fault tolerance as it aims to scale its business, reports Alex Hamilton of Fintech Futures (Finovate’s sister publication). The company also plans to follow up the launches of its cloud-based Read more…
Financial services vendor FIS has announced that it has integrated IBM’s Safer Payments solution within its peer-to-peer (P2P) services to aid in the prevention of fraud, reports Alex Hamilton of Fintech Futures, Finovate’ sister publication. With the IBM solution integrated, FIS believes its P2P services will be able to monitor high volumes of transactions and Read more…
Australian paytech Tyro Payments is vying to float on the Australian Securities Exchange (ASX) in an initial public offering (IPO) which is projected to raise up to $173.23 million (AUD 252.7 million), reports Ruby Hinchliffe of Fintech Futures (Finovate’s sister publication). The Sydney Morning Herald reported that the 2003-founded firm, which said it’s Australia’s fifth-largest Read more…