The Fintech Times Bi-Weekly News Roundup takes a look at the latest fintech stories from around the world on Tuesday 29 October 2024.
Partnerships
Tribe Payments, the digital payments and infrastructure orchestrator specialising in issuer and acquirer processing, is chosen by global payment and digital financial infrastructure platform PhotonPay to provide its issuer processing services. With Tribe’s API-driven solution, PhotonPay has launched a pilot programme and is expanding its card issuing capabilities worldwide.
OKX, a cryptocurrency exchange and global onchain technology company, has teamed up with Standard Chartered, appointing the international cross-border bank as its third-party crypto custodian for its global institutional business. By leveraging Standard Chartered’s expertise and risk management framework, OKX aims to offer institutional investors a broader range of secure and reliable custody solutions.
Adyen, the global financial technology platform of, has enabled Tap to Pay on the Apple iPhone in five new regions: Sweden, Austria, Czech Republic, Ireland and Romania. The functionality enables businesses to use an iPhone to accept contactless payments, without the need to purchase or manage additional hardware.
PayPoint has forged a new partnership with Leeds Credit Union, a financial cooperative with 37,000 members, enabling them access to its CashOut service. The partnership will mean that LCU customers can access their cash and savings across any of PayPoint’s UK network of 29,000 retailer partners.
B2C2, a company specialising in institutional liquidity for digital assets, is adding OpenPayd’s embedded finance capabilities to its global instant settlement network. Working with OpenPayd and leveraging its purpose-built embedded finance infrastructure expands B2C2’s and its clients’ ability to send and receive fiat currency for trade settlement. B2C2 clients will also benefit from onboarding onto OpenPayd, access to multi-currency accounts, and the ability to instantly send or receive third-party payments.
Appointments
UK digital MGA Ripe appoints David Rowntree as its new chief underwriting officer. Rowntree has held senior roles at Zurich, RSA, Legal & General and Swiss Re. He was most recently head of property and SME for the UK and Europe at Wakam.
Lumera, an insurtech company dedicated to the digital transformation of the European life and pensions industry, has appointed Therese Hennerberg as chief financial officer. In July 2024, she was named interim CFO, taking over from Jonas Alfredson as he was promoted to permanent CEO of Lumera. Hennerberg joined Lumera as group controller in early 2022.
Bitget, the cryptocurrency exchange and Web3 company, appoints Min Lin as its chief business officer. Lin previously held the position of regional vice president for Latin America and head of business development at Binance. Lin says he is dedicated to advancing the global growth of the blockchain and cryptocurrency sector.
Xace has welcomed Petra Maria Poola as group commercial director. She has previously held roles at iGaming companies including Yolo, Relax Gaming and SiGMA. She will lead the commercial growth of Xace and its group companies, including crypto and iGaming focused xda.io, helping to drive strategic initiatives across banking, fintech, and iGaming solutions.
Global identity verification provider ID-Pal appoints John Purdy as the newest member of its board of directors. Purdy co-founded Ergo over 30 years ago. In his new role as an independent non-executive director at ID-Pal, Purdy will help shape the company’s growth strategy during a period of expansion.
Funding and investments
Moniepoint Inc, an African fintech, has successfully raised $110million in equity financing. Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint (formerly known as TeamApt) initially focused on providing infrastructure and payment solutions for banks and financial institutions, has grown into a Nigerian business banking provider, used by millions of businesses.
European cybertech Filigran has completed a $35million Series B fundraise, led by global software investor Insight Partners, with support from existing investors Accel and Moonfire. This new round of funding comes just months after the company’s $16million Series A. This funding will fuel the company’s global expansion, particularly in the US and the Pacific region, while supporting continued product innovation, focusing on AI and data engineering use cases.
Fintech Zilch has expanded its securitisation facility by an additional £50million, bringing the total to £150million. This latest round includes participation from two of the world’s largest credit funds, alongside lead arranger Deutsche Bank. The total deal will enable Zilch to support £10 #billion in annual commerce and maintain its rapid growth trajectory.
Company updates
Travelex Currency Exchange, the foreign exchange brand, has undertaken a major expansion in the UAE with the launch of 13 new stores across Abu Dhabi and Dubai airports. At Zayed International Airport, Travelex is doubling its store footprint from seven to 14 stores, including six new on-the-move kiosk (OTM) locations at arrivals baggage, airside departures and pre-immigration, and one new traditional landside store.
ZA Bank, a digital bank in Hong Kong, has commenced the sandbox trial of its virtual asset trading service. This service seeks to enable eligible Hong Kong retail investors to enjoy a more secure, reliable and convenient virtual asset trading experience in a strictly regulated banking environment, further driving fintech development in Hong Kong.
allpay has achieved the ISO 27001:2022 certification, an important upgrade from the previous 2013 version. This accomplishment showcases its commitment to ensuring the highest standards of information security and data protection for their clients, partners, and stakeholders.
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