The Fintech Times Bi-Weekly News Roundup takes a look at the latest fintech stories from around the world on Tuesday 12 November 2024.
Appointments
Sibstar, the UK debit card and app for people living with dementia, has appointed GoHenry co-founder and CEO, Louise Hill, as a non-executive director. She will offer independent advice and provide oversight to Sibstar’s executive directors, ensuring optimal performance while providing strategic guidance and support to the executive team as needed.
PayRetailers, the payment processor for Latin America and Africa, appoints Patrick Lemay as head of corporate development. His expertise includes building a global M&A team of specialists and successfully completing over 25 major transactions, totalling over $3billion in buy-side and sell-side deals, divestitures and integrations.
Payment company Unzer has appointed three new members to its advisory board: Marcus Chromik, Jon Wrennall and Jürg Weber. Martin Blessing, former CEO of Commerzbank, will continue as chairman of the board, guiding Unzer through its next stages of growth as the company helps European retailers accelerate their digital transformation.
Britannia Global Markets (Britannia), the financial services firm specialising in derivatives broking including foreign exchange, energy, agriculture, base metals and financial products, has appointed Neil Welsh as head of metals. Most recently Neil was a trader at Triland Metals and he rejoins Britannia having been at the firm between 2019 and 2023 as a base metals sales trader.
Ortec Finance has expanded its board with the appointment of two new members. Else Bos joins as the fourth non-executive member, while chief operating officer Martijn Vos is named executive member. Ortec Finance is a provider of technology and solutions for risk and return management.
Digital investing solutions provider InvestiFi welcomes David Guttman as its new president and chief operating officer. In this role, Guttman is responsible for overseeing the day-to-day operations; including finance, HR, and operations, leveraging his experience across numerous industries.
Funding and investments
Agicap, the treasury management platform, closes €45million Series C funding round led by AVP. The transaction proceeds will support effects to strengthen its go-to-market strategy, with this marking the first European investment from AVP’s newly created €1.5billion late-stage fund. Agicap will use the Series C funds to continue investing in its product, people as well as growth initiatives.
Tranched, a London-based embedded asset-based financing platform which automates the process of bundling loans into securities, has raised $3.4million in a pre-Seed funding round led by Speedinvest, which includes capital from participation in the Andressen Horowitz‘s Crypto Startup Accelerator (CSX) program. Blockwall, Kima and OVNI Capital also invested. The funding will advance Tranched’s platform with additional features aimed at global markets as it plans to expand its reach beyond Europe.
Satispay, the payment network that reached unicorn status in September 2022 following a funding round led by Addition, has completed a new capital increase of €60million, bringing total funds raised to over half a billion euros. This funding follows a period of sustained acceleration and aims to equip Satispay with the resources to also compete and establish itself in the welfare and investment sectors.
Allica Bank and investment and advisory group Heligan have agreed a multi-million pound funding deal to support the expansion of one of Heligan’s portfolio companies, Interrupt Labs. The funding Interrupt Labs secured from Allica, through its primary investor Heligan, will enable the firm to almost double its headcount, supporting plans for growth into the US and the launch of new products in existing markets.
Partnerships
PXP Financial, a global acquiring, payment, fraud and data analysis services company, announces a new partnership with US payments company North. The partnership is a crucial next step in giving PXP Financial merchants and partners access to another acquirer connection in the US. It promises to serve a broad array of target sectors and industries, complementing PXP Financials ongoing stateside expansion.
Dojo, a provider of payment technology, has joined forces with global embedded financing platform YouLend to introduce flexible, business-friendly financing to its Spanish customers. Following the partnership, Dojo customers can access personalised financing options, empowering them to navigate cash flow challenges or invest in business growth.
Bitpanda, a European crypto platform, has announced an exclusive three-year partnership with tennis star Alexander Zverev. As Bitpanda’s new global ambassador, Zverev will represent the brand at all ATP and Grand Slam tournaments worldwide, with the Bitpanda logo displayed on his sleeve.
Network International (Network), an enabler of digital commerce across the Middle East and Africa, has partnered with Tamara, a fintech unicorn in the region. This collaboration empowers merchants to offer flexible, Sharia compliant payment solutions at the point of sale (POS). Network has also unveiled a partnership with Tabby, the region’s shopping and financial services app, to offer flexible, interest-free payment options to customers at point of sale.
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