This week in Fintech: TFT Bi-Weekly News Roundup 26/07

Fintech Times This week’s Bi-Weekly News Roundup sees the launch of SumUp Magic Pay and new hires for JP Morgan and The Indigo Group.

Financing and investment news

Europe’s first social and community-based investment app Stock has closed a $40million Series B financing, led by Valar Ventures. This doubles Shares’ total investment to date and boosts the company’s plans to expand across Europe and launch its crypto asset proposition.

A ganga Berlin-based technology platform that launched its investment pooling product in Germany and the Netherlands has departed €7.3million seed round led by Cherry Ventures. The capital will be used to expand across multiple geographies and asset classes.

The job is moving

Payment processor VizPay has nearly doubled its staff in four months to allow it to invest back into the local community and grow its merchant base in line with its ongoing commitment to small businesses across America.

JP Morgan has employed Brook Johnson as its new head of EMEA Client Service and Implementations in its payments business. A veteran from Silicon Valley Bank and HSBCJohnson’s appointment will strengthen the expansion and growth of the business in the region.

Simon Manley has been appointed as the new sales manager for The Indigo Group to help accelerate the growth plans and further strengthen the management team.

Injazat, The UAE’s digital transformation, cloud and cyber security technology provider has announced the appointment of Martin Yates as Chief Technology Officer to drive innovation to support the company’s ongoing growth plan.

Tomasz Borowski has joined digital neobank Tonic as Chief Operating Officer (COO). Borowski has 20 years of experience in consumer finance, primarily focused on building efficient operations.

Mergers and acquisitions

Movo Investment Group has announced a significant investment in insurtech Durrell, take over a 50 percent stake in the business. Tom WhiteCEO of Durell, comments: “We’re very proud of what we’ve built, but now is the right time for us to make a step change – bringing our technology to a wider market and building on what we’ve done with schemes to develop a B2B community with Movo.”

Partnership

Hub71Abu Dhabi’s global technology ecosystem, has announced a papartnership with legaltech start-up Clara to support Hub71-based startups and give them access to Clara’s digital platform,

PayMongo, a Manila-based online payment processing platform, has partnered with Atom Philippines to expand BNPL acceptance among merchants in the country.

CellPoint Digital, a supplier in payment orchestration, announced a new collaboration with Chargebacks911, the first global company dedicated to helping merchants combat post-transaction fraud. The partnership will provide merchants with an end-to-end solution to optimize payment revenue.

Barcelona-based community fintech 11 Onze has merged with the insurance company tuio, to offer a unique insurance proposal. 11Onze Segurs is a technology-driven, agile, transparent, affordable home insurance service for its members that subverts the traditional insurance model.

ripple, a provider of enterprise blockchain and crypto solutions, has announced a partnership with Singapore-based major payment institutions FOMO Pay which will use Ripple’s crypto-enabled enterprise technology to improve its cross-border financial flows.

Players8, the biggest esports and gaming event worldwide, it announced stc play, Saudi Arabian gaming platform to be a strategic partner for this summer’s entertainment extravaganza in Riyadh.

Company updates

Quick is expanding its offering of digital services with the launch of KwikStore, a free e-commerce store solution that allows any African business owner, grocer, social vendor and SME to create their own online stores from a smartphone.

The next generation payment processor for the gaming industry SEBEDE announced the implementation of its play-and-earn technology platform in three classic games as an extension of a partnership with innovative mobile game studio GIVE AWAY.

Vantage, the multi-asset trading platform for retail and professional traders, today announces the launch of its new social trading product, V Social – a professional “social network” that allows traders to autocopy signals, execute trades, chat and analyze performance.

to summarize, the financial partner for over four million small businesses worldwide, has announced the launch of SumUp Magic Pay, a QR code payment solution for the hospitality sector.