This week in Fintech: TFT Bi-Weekly News Roundup 10/01
Fintech Times Bi-Weekly News Roundup Tuesday 10 January 2023 brings you news on funding successes and fintech partnerships.
The job is moving
Safety, a developer of blockchain-based financial and regulatory technology, name Nadine Chakar as managing director. Most recently, Chakar served as executive VP and head of State Street Digital. She has also served as a member of the Securrency board since 2021. Dan Doney, Securrency’s founder and former CEO, now serves as Chief Technology Officer.
Built Technology, a real estate fintech provider in the US, adds Bora Chung and Matt Marenghi as business advisors. Their expertise will help Built drive innovation and value for its customers as the company scales and expands services on the platform.
Belaskoa fund, private wealth and corporate services business, appoints Edward Green as managing director. Current CEO, Paul Lawrence, takes over a newly created position as CEO. Belasko employs more than 100 professionals across Guernsey, Jersey, the UK and Luxembourg.
Burge’s salmon has strengthened its banking and finance practice with the appointment of a structured finance lawyer James Barrett as a director. He joins after a career with Allen & Overy. Burges Salmon handles complex financing transactions for clients on both a UK and cross-jurisdictional basis.
The Nottingham Building Society have named Anthony Murphy as its new CFO. Murphy will join Society in March, moving from digital challenger bank Tandem. The Nottingham also recently signed a partnership deal of up to £600m with fintech mortgages.r Generation home.
BMLLa data provider, has appointed Rob Laible as head of the Americas with plans to open a New York-area office. The appointment supports BMLL’s strategic growth plans as well as increasing demand for Level 3 data and analytics globally. BMLL also recently raised $26 million in a fundraiser led by Nasdaq Ventures to drive product development, acquisition of new data sets and geographical expansion.
Financing
KreditBee, a personal loan and online credit platform in India, has raised its Series D round. It has raised an additional $100 million in seed funding from Advent International. The additional capital raised will be used to scale the existing business and diversify the product offering by focusing on digitally enabled financial products.
YFM completes £5m investment AutomatePro. The funding will help the cloud-based intelligent test automation and DevOps software provider build on its US presence and continue to invest in product innovation. YFM invests between £2m and £10m in businesses with strong growth potential located across the UK.
US-based conversational AI company NLX has raised $4.6 million in Series Seed II funding despite the tough market for tech companies and startups. The latest round of capital will continue to drive NLX’s marketplace expansion and product optimization. The round was chaired by IAG Capital Partners with participation also from JetBlue Ventures and Flying Fish Ventures.
Partnership
Continuuma Web3 community think tank, has entered into a strategic partnership with Platon Data Intelligence, a NYC-based data platform. The partnership is focused on growing both companies’ active Web3 communities via increased brand awareness, engagement and vertical data intelligence using Plato’s content distribution and syndication network.
NorthOne have joined The clearing house‘s real-time payments network in collaboration with Bancorp Bank. NorthOne can help businesses receive payments instantly 24 hours a day, 365 days a year. It also serves as a platform for innovation that allows NorthOne to deliver new products and services to customers.
Meanwhile, authID working together with tax status, a provider of official tax data and IRS account monitoring. Skattstatus has implemented authID’s Human Factor Authentication (HFA) services to help its corporate partners in wealth management, lending, accounting and other financial service providers protect highly sensitive tax data.
London-based technology brand Nothing working together with Sharaf DG. Nothing will expand its presence in the MENA region as a result of the collaboration. Nothing Phone brought in the most innovative smartphone design TIMEBest inventions of 2022.
Broadridge will use Glue42, a software provider that delivers integrated desktop experiences to financial institutions globally, to deliver a seamless trading experience. This move provides customers of Broadridge and Glue42 with an integrated framework across products, creating a single workspace for banks and broker-dealers.
More partnerships
SmartCrowd, a DFSA-regulated real estate crowdfunding platform, joins forces with GEMS Rewards, a loyalty program from private education provider, GEMS Education, to increase financial literacy and improve investment habits among UAE families.
Amazon Web Services (AWS) and Israeli-based Automat-IT has entered into a multi-year agreement to support startups and digitally native companies in Europe and Israel. Automat-IT partners with AWS to accelerate cloud adoption.
Meanwhile, EKA Solutions Inca provider of a cloud-based integrated freight management platform, collaborates with Radish, to deliver transaction-based insurtech solutions to EKA freight forwarders, brokers and SMEs.
Acquisition
Rami Cassis has announced the expansion of the portfolio company’s IT supplier Parseq. Parseq has acquired TALL group, a British company for secure printing and payment solutions, and has integrated with Column Software Solutions, an India-based IT and business process management firm. Parseq has now expanded its presence to more than 520 employees based in 12 offices across the UK, Bulgaria and India.
Now waythe Canadian fintech, will acquire Paya Holdings, a provider of integrated payment and commerce solutions in the United States. The acquisition is a cash transaction at USD 9.75 per share for a total consideration of approx. 1.3 billion dollars. Nuvei says the agreement accelerates the integrated payments strategy and diversifies the business into important non-cyclical verticals with high growth. It also improves the execution of the growth plan.
