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Clearcover unveils insurance exchange to boost non-standard auto insurance market


Clearcover, a next-generation auto insurer known for its digital-first approach, has launched a reciprocal insurance exchange designed to strengthen its position in the non-standard auto insurance market. The product, known as Clearcover Inter-Insurance Exchange (CIX), aligns with Clearcover’s broader strategy to improve profitability, fuel growth, and enhance accessibility within auto insurance, according to InsurTech Insights. With a

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Zeta raises $50m as valuation surges to $2bn in strategic funding


Zeta, a next-generation banking technology provider serving financial institutions worldwide, has secured a $50m strategic investment. The latest funding values the company at $2bn, marking a 1.7x increase from its previous $1.15bn pre-money valuation. The funding was contributed by a strategic investor, though their identity has not been disclosed. This follows Zeta’s previous $250m raise

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BIS guides central banks on balancing AI innovation with risk management


In its latest report, the BIS addresses the burgeoning role of AI in central banking, underscoring the critical balance between promoting innovation and managing associated risks. The report outlines key strategies for central banks to safely incorporate AI technologies within their operational frameworks, according to ABA Banking Journal. Central to BIS’s guidance is the establishment

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Semgrep bags $100m in Series D to elevate AI-driven code security


Semgrep, an application security platform, has successfully secured a substantial $100m in its Series D funding round. The round was spearheaded by Menlo Ventures, with significant contributions from existing stakeholders including Felicis Ventures, Harpoon Ventures, Lightspeed Venture Partners, Redpoint Ventures, and Sequoia Capital. This latest injection of capital brings the total funds raised by the

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Moneyhub and Money Squirrel partner to enhance Open Banking for SMEs


Moneyhub, a leading data, intelligence, and payments company specialising in Open Banking, Open Finance, and Open Data solutions, has partnered with Money Squirrel, an emerging FinTech focused on financial management for small businesses. The collaboration aims to power Money Squirrel’s recently launched app, designed to help SMEs automate savings and manage VAT payments efficiently. The

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Trucordia acquires CADA Insurance Services to expand footprint in Louisiana


Trucordia, a leading insurance provider with a team of 5,000 professionals, has announced the acquisition of CADA Insurance Services’ insurance business, further strengthening its presence in Louisiana. The acquisition is part of Trucordia’s strategy to integrate businesses with strong growth potential in key industries and markets, according to InsurTech Insights. By bringing CADA Insurance under

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Alta Signa expands insurance capacity with Westfield Specialty International partnership


Alta Signa has added Westfield Specialty International to its insurance capacity panel, enhancing its ability to underwrite Directors & Officers (D&O) and Financial Institutions (FI) risks across the European Economic Area (EEA) and Switzerland. This partnership introduces an additional €10m capacity, split equally between D&O and FI lines, bolstering Alta Signa’s existing Lloyd’s-backed panel. The

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Sokin lands $15m from BlackRock to fuel global expansion


UK-based payments firm Sokin, which provides international payment solutions for businesses, has secured $15m in debt funding from funds and accounts managed by BlackRock. This investment follows a $31m strategic investment from Morgan Stanley Expansion Capital. Sokin has experienced substantial growth in recent months, including a 51% increase in new account openings since the Morgan

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WiseLayer raises $7.2m to enhance AI-powered finance automation


WiseLayer, a New York-based AI FinTech company specialising in digital workers for finance and accounting teams, has raised $7.2m in funding. The investment round was led by Canaan Partners, with participation from K5 Global, The Fintech Fund, Unpopular Ventures, and several industry angels. WiseLayer develops AI-powered digital agents designed to automate complex, manual processes within

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Allra FinTech raises $9.1m Series B to expand early payment services


Korean FinTech company Allra FinTech, which operates the early payment service “Allra,” has raised $9.1m in its Series B funding round. The investment was led by KB Kookmin Card, which contributed $6.8m, making it Allra FinTech’s second-largest shareholder, according to a report from WowTale. Singapore-based Altara Ventures and Vietnam-based Do Ventures jointly invested $2.3m in

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Clean energy FinTech CapeZero secures $2.6m to transform project financing


CapeZero, a software platform aimed at simplifying financial workflows for clean energy developers, has secured $2.6m in a seed funding round. The investment was led by Powerhouse Ventures, with participation from Climactic, Avesta Fund, Virta Ventures, and Stepchange. The funding will enable CapeZero to accelerate the development and expansion of its platform, which aims to