This week in Fintech: TFT Bi-Weekly News Roundup 14/10
Fintech Times This Friday’s Bi-Weekly News Roundup brings news of crowdfunding success for Plum and a new CEO for ComplyAdvantage.
The job is moving
ComplyAdvantage have named Vatsa Narasimha as the new CEO. Charles Delingpole, the company’s founder and former CEO, will transition to become executive chairman. Delingpole has led ComplyAdvantage since its formation in 2014, taking the company from inception to operating with 450+ employees and more than 1,000 customers worldwide. Narasimha joined fintech more than two years ago from Oanda Corporation.
OCR Labs Global, the verification company for digital ID, has appointed Joshua Read as operations manager. Prior to joining OCR Labs Global, Read was EVP of Sales and Partnerships at Yellowfin Business Intelligence International. His focus is building a high-performance culture and optimizing business processes.
Oliver Wymanthe management consulting company, has named Waqas Samad as a senior advisor. Samas joins as part of the Financial Infrastructure, Technology and Services (FITS) platform, which serves market infrastructure, data, information, technology and software providers across the financial services ecosystem.
Cowbell, which provides cyber insurance for SMEs, appoints David Junius as its first financial manager. He most recently served as CFO of SiriusPoint Ltd. His appointment follows a successful one 100 million dollars Series B capital raising in March.
More deals
Card issuing platform Market have named Jeff Parker as new SVP and CEO, International. Parker comes from WorldFirst, where he took up the position of CEO shortly after the acquisition Ant group. In his new role, Parker will build Marqeta’s go-to-market and operational functions internationally, as well as drive the offerings across Europe and APAC.
KoinWorksthe credit-led neobank in Indonesia, appoints Frank Van Deur as finance manager. Van Deur also joins the company’s executive board. Previously, he was head of corporate finance & capital markets Asia Pacific in ABN AMRO Bankbased in Singapore.
Webb Fontainea provider of AI-powered trading technology solutions, has named Pascal Minvielle as operations manager, while Ara Shamirzayan appointed as technology manager. The company said the changes to the executive management team were made to bolster expansion and better serve customers.
Partnership
Agribank in the Philippines has launched a new mobile banking app for Android and iOS, developed and provided by Geniusto International. Working with Geniusto is Oradianits cloud-based core banking system. Agribrank said it is now better able to serve rural communities across the Philippines following the partnership with Geniusto and Oradian.
Bank of Americaits online payment solution, Pay by Bank, is now available for payments in euros. Delivered in conjunction with Banked Ltd., this development follows the UK launch of Pay by Bank in February. It allows customers of e-commerce businesses to pay directly from their bank account.
Cellulant Zambia have signed an agreement with Lusaka Chamber of Commerce and Industry (LCCI) to offer digital payments to its member companies. Members of the Lusaka Chamber of Commerce can now access payment solutions that will enable them to accept payments from their customers’ preferred mobile money wallet.
BlueSnapthe payment orchestration platform, has entered into a partnership with BitPay. The product partnership gives businesses the ability to accept and get paid in up to 15 different cryptocurrencies and seven fiat currencies globally. It also supports BlueSnap’s mission to help businesses worldwide increase revenue and reduce costs.
Provider of insurance data Percayso Inform is to develop and deliver a bespoke data enrichment solution to support new motor insurance companies Sixty. The Percayso solution will allow Zixty to pull data at the point of offer through Percayso’s API from multiple sources to better understand both the customer and their vehicle.
Token is the first official e-wallet partner of Hull City Football Club. The company’s branding will be displayed at all Hull City home games at the MKM Stadium. Furthermore, Jeton’s branding will be continuously displayed on the club’s online channels, including the website and social media platforms.
Financing and investment
VUZ, the social app, which allows users to stream and experience immersive realism in XR and metaverse digital experiences, raises $20 million in Series B funding led by international investors including Caruso Ventures and Vision Ventures VC Fund. The funds will fuel VUZ’s expansion plans to expand its core, as well as accelerate the growth of its recurring subscription revenue. It also plans to invest in top content, hire more key senior staff and scale into eight new international markets.
Fintech NorthOne has raised $67 million in Series B funding from investors includingDrew Brees and Next Play Capital. With the funding, NorthOne will build new working capital and credit products, as well as faster and more practical payment solutions for busy entrepreneurs. It will also continue to expand on integrations already offered.
GoHenryprepaid debit card and financial education app for kids and teens, has raised $55 million in its latest growth capital round of investment from existing investors, Edison Partners and Revaiatogether with new capital from leading Italian payment technology Nexi. The funds will help with the expansion in Italy, in addition to driving the product expansion.
perch, a Toronto-based fintech, has completed a $4 million Series A funding round. Investors include Second Century Ventures and Ontario Center of Innovation. Perch will use the investment to continue to scale and expand its operations team. Perch previously announced a $1 million seed round in October 2021.
More funding news
Astraa provider of instant card-to-card funding as a service in the US, has raised a $10 million Series A funding round led by FPV Ventureswith participation also from Slow Ventures and Capital of Allegis. There is also a credit limit of $30 million CoVenture to support the company’s expansion in the payments industry.
Smart money app Plum has secured £1 million from investors in the first eight hours of its crowdfund launch. After more than 3,700 people have invested so far, further share allocations have been made available. Crowdfunding is still open for new investments for five more days.
Singapore based Pillow has raised $18 million in Series A funding. Accel, Quona Capital, Elevation Capital plus Skip capital co-led the round. Pillow plans to do even more to elevate the personal finance journeys of people in emerging markets such as Africa and Southeast Asia.
HeidiPay, the Swiss fintech, has closed a funding round led by Compass Banca SpA. The capital grant ensures both growth equity and credit lines to support the rapid expansion in the Swiss market and internationally. HeidiPay also operates Compass’ e-commerce BNPL solution in Italy, brand PagoLight.
