The Fintech Times Bi-Weekly News Roundup takes a look at the latest fintech stories from around the world on Thursday 14 November 2024.
Industry movers
Scintilla has appointed John Casey who joins the digital creation platform’s board. Born out of the global law firm DLA Piper, Scintilla is a digital asset creation platform that combines the compliance and regulatory knowhow of a global law firm with technology solutions. Scintilla offers end-to-end virtual asset solutions.
Philip Jenks is now a non-executive director for Chetwood Bank. Jenks has held leadership positions with Halifax and HBOS, and well as NED or chairman roles for Leeds Building Society, Charter Court Financial Services, City of London Group and Recognise Bank. At Chetwood Bank, Jenks will advise on strategic decisioning and commercial growth. He will also provide input into the growth of its mortgages brands.
Payouts Network, the B2C payments platform, adds Garen Staglin to its board. Staglin joins Dan Geraty, Miles Kilburn, Mark Putman and Payouts Network CEO Keith Smith. Staglin is the chairman and founder of One Mind, a nonprofit organisation addressing brain science and destigmatising mental illness. He aims to guide Payouts Network through its next phase of growth and innovation.
EML Payments has appointed three new executives to advance its growth strategy. Bryan Lewis, now global COO, brings experience from roles at Agoda and Priceline. Shabab Muhaddes, the new chief revenue officer, joins from Forter with a background at Visa and Mastercard. Tom Cronin, appointed chief product officer, previously led customer solutions at Mastercard.
Dufrain, the data company, names Daniel Telling as the company’s chief growth officer. In his new role, Telling will spearhead Dufrain’s growth and expansion plans. Telling will leverage his 30 years’ experience in strategic growth and business development across a multitude of industries, from cloud providers through to AI and data analytics.
More hires
Vroozi, the intelligent procure-to-pay platform, has named Dave Norton as its president. Norton most recently served as chief revenue officer at Eltropy. Prior to that he served as CRO at LiveView Technologies. At Vroozi, Norton will lead the go-to-market strategy and operations, while exploring ways to solve more business needs for current customers. Norton’s focus will also be on scaling Vroozi’s enterprise presence while driving further growth in the mid-market segment.
Broadridge Financial Solutions appoints Alix Jules as AI business transformation leader. In this role, Jules is responsible for leading the global vision, strategy and transformation agenda for internal initiatives that will enhance productivity, improve quality as well as accelerate time to market.
Fintech SSImple has welcomed Keith Tippell as chief commercial officer following the closure of its latest funding round. Launched in 2023, SSImple is a SaaS platform that facilitates compliance with expected FMSB and FCA requirements driven by T+1 settlement. Tippell most recently served as chief product officer at CLS Group, with roles also at Droit Financial Technologies, SWIFT and Markit Group.
Investment and funding
Morgan Stanley Expansion Capital makes $20million investment in NovoPayment, a financial and payment infrastructure service provider specialising in delivering digital banking, payments and card solutions. The funding is expected to support NovoPayment’s continued scaling and expansion of commercial partnerships.
Augmentum, a European publicly listed fintech fund, is leading a $7million funding round with a $4million investment into UAE-based Pemo, an expense management solution serving customers across the Middle East. Pemo intends to use the investment to drive further innovation in its product as well as expand into additional markets.
Neo, a Canadian fintech, has bagged a CA$360million Series D fundraising round, consisting of CA$110million of equity and CA$250million of debt. The round includes investments from Tobi Lütke (CEO of Shopify), Stewart Butterfield (founder of Slack) and David Baszucki (CEO of Roblox), Existing investors, Valar Ventures, Golden Ventures, Afore Capital and Thomvest Ventures, also took part. Neo plans to use the funding to accelerate the expansion of its suite of financial services products.
Partnerships
Solidgate, a payment processing platform, has forged a partnership with Nova Post, a Ukrainian express delivery company, to provide payment services for both businesses and individuals. They say the partnership aims to support the vulnerable global logistics industry which has seen heightened fraud-related losses, including payment misrouting and unauthorised transactions.
Real-time payments platform Volt has forged a new partnership with Kinguin, a global marketplace for video games. Utilising open banking technology, the partnership enables millions of gamers to securely and seamlessly purchase games and in-game goods using ‘Pay by Bank’. For providers like Kinguin, integrating ‘Pay by Bank’ also means faster settlements; because payments are routed account to account.
Rakuten Card Co and Mizuho Bank, have launched the Mizuho Rakuten Card, a new co-branded credit card that will start taking applications and issuing new cards on 3 December 2024. A promotional campaign will also launch on the same day to mark the release of the Mizuho Rakuten Card.
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