Cover Whale, an insurtech focused on the commercial auto space, today announced reaching $100 million in insurance premiums in the first half of the year. This growth far outpaces competitors within its industry class. Leading a new vision for the insurtech industry, the company owes this milestone to its ongoing technological innovation, a distinct business
Tink has announced a significant upgrade to its payment stack with the launch of settlement accounts, a new feature that aggregates PIS settlements. Starting in the UK with a wider European roll-out to follow in the coming months, this launch enables real-time payment confirmation, instant refunds and payouts, integrated reporting, and more. This means that in
Motive Partners, a leading specialized private equity firm focused on financial technology, today announced the successful final close of its second flagship fund, Motive Capital Fund 2, with total capital commitments of $2.54 billion for the Fund and its affiliated co-investment vehicles. The Fund employs the same investment strategy executed in Motive Partners’ inaugural flagship fund.
Kadmos, the end-to-end salary payments platform for cross-border employers, has raised €29m in a Series A funding round led by Blossom Capital. The investment round, which follows an €8.3m Seed round in December, also included existing investors’ Addition and Atlantic Labs. Kadmos is already working with several high-profile shipping companies and has built a robust
Mastercard announced the appointment of Adam Jones to lead its operations across the Middle East and North Africa (MENA) Central cluster in his new role as Country General Manager. Adam is responsible for Saudi Arabia, Egypt, Jordan, Lebanon, Bahrain, and Iraq markets. “I am delighted to be part of Mastercard’s journey with this new role
WeLab Bank, the virtual bank dedicated to curating intelligent banking experience, announced that it had become Asia’s 1st purely digital bank independent of traditional banking groups in major Asian markets to launch a digital wealth advisory solution- GoWealth Digital Wealth Advisory (GoWealth). GoWealth combines the FinTech strength of WeLab Bank with the investment expertise of Allianz Global
Griffin, a Banking as a Service (BaaS) FinTech firm, announces it has raised $15.5 million in funding to launch the OS for embedded finance. Notion Capital led the round, with participation from existing investor EQT Ventures as well as FinTech angels, including William Hockey, co-founder of Plaid and founder and co-CEO of Column, Nilan Peiris,
e& (formerly Etisalat Group) recently announced that eWallet is undergoing a major transformation into a new FinTech company called e& money. As the FinTech arm of e& life (one of the specialist business pillars of e&), e& money aims to revolutionize the customer experience through its innovative financial super app marketplace. The announcement builds on the
Alerus Financial Corporation recently announced it has completed the previously announced acquisition of MPB BHC, Inc., the bank holding company for Metro Phoenix Bank. Founded in 2007, Metro Phoenix Bank is the largest full-service community bank headquartered in Phoenix, with approximately $453 million in total assets, $280 million in total loans, and $402 million in total
Derivative Path, a leading provider of capital markets technology and derivatives execution services to regional and community banks, announced it is collaborating with Goldman Sachs Transaction Banking (TxB) to offer an automated, digital-first payments platform to help financial institutions with spot foreign exchange and international payments. Using TxB’s API-based platform, Derivative Path clients can now provide a
Synch Payments, the Irish instant mobile payments provider, has agreed with the European PayTech Nexi as its platform and service provider to help bring the Synch proposition to Irish customers and merchants. Synch recently secured authorization from the Competition and Consumer Protection Commission (CCPC), clearing it to trade and paving the way for the company to
PaySky, a digital payment solutions provider launches Yalla Card and Super App in the United Arab Emirates, in partnership with its strategic partner Visa. The super app will offer a wide range of digital payment solutions to facilitate financial and non-financial services for the UAE residents, during the third quarter of the current year 2022. PaySky is
