Mexican SME-focused digital banking platform Covalto is set to go public via a merger with special purpose acquisition company (SPAC) LIV Capital Acquisition Corp. The new combined firm will be known as Covalto, and it will be the first Mexican fintech to be listed on a US stock exchange. The merger is worth $547 million
The property sector across the UK is set for a £3bn boost as specialist bank GB Bank officially launches after receiving its full UK banking license. The Middlesbrough-based GB Bank is now able to go forward with its ambitious plans thanks to the banking license. It has agreed to lend £3 billion over a five-year period.
Forage, a payments processor that makes it easier for grocers to accept SNAP EBT payments online, announced today that it has raised a $22M Series A funding round to accelerate online grocery access for America’s 42 million SNAP EBT recipients. The round was led by fintech specialist firm Nyca with participation from PayPal Ventures, EO Ventures,
Axo, a leading distributor of personal finance products in the Nordic region and portfolio company of Corsair, a leading private equity firm targeting payments, software, and business services investments in the financial services sector, today announced that it has acquired Defero, a digital credit-scoring and financial management platform in the Nordic region. The financial terms
Israeli banking-as-a-service (BaaS) start-up Unit has partnered with Tennessee’s Thread Bank to enable firms to embed banking services — including accounts, cards, payments and lending — into their products using a single platform. “We’ve grown explosively over the last year by helping companies quickly create new revenue streams with customized banking experiences,” “With our partnership
Jack Henry & Associates, Inc. announced today that it has entered into a definitive agreement to acquire Payrailz, adding the company’s next-generation digital payment capabilities, including real-time person-to-person (P2P) payments, to Jack Henry’s payments ecosystem. Payrailz, a cloud-native, API-first, AI-enabled provider of consumer and commercial digital payment solutions and experiences, is based in Glastonbury, Connecticut. By enabling money
Paysend, the UK-based fintech with over 7 million customers, today announces that 50 new receiving countries have been introduced to its global payments network since the start of 2022. Paysend customers can now send money to more than 170 countries around the world thanks to these new payment channels. Notable additional countries supported by Paysend
Tax automation fintech Avalara is to be acquired by global investment firm Vista Equity Partners in an all-cash deal worth $8.4 billion. All of Avalara’s outstanding shares will be purchased by Vista for $93.50 per share, a premium of 27% over the stock’s closing price on July 6, 2022. Avalara’s net debt is included in
Florida-based B2B payments platform Plastiq is to become a publicly traded company following a merger with special purpose acquisition company (SPAC) Colonnade Acquisition Corporation. The new company, with an estimated $480 million in value, will continue to be run by CEO Eliot Buchanan and go by the name Plastiq. Plastiq expects the transaction to increase
As the safest and most dependable link to the crypto economy over the past few years, Coinbase has been crucial to the growth and strengthening of crypto markets. The announcement that Coinbase is collaborating with BlackRock, the largest asset manager in the world, is an exciting next step in our journey. Through connectivity with Coinbase
The Solana blockchain has become the latest victim of a crypto fin-crime. Thousands of its users reported their funds being wiped clean and their wallets had been compromised. In the blink of an eye, Solana users lost millions of dollars, some of them even having lost their life savings. By taking advantage of a weakness
Ohio-based KeyBank has tapped fintech Quavo for its QFD automated dispute management platform. When a credit transaction is contested or fraud is discovered, KeyBank will implement the cloud-based QFD system to streamline its fraud and dispute procedures and automate the manual tasks needed, from claim intake and investigation to claim resolution and recovery. “We are
