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
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
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
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
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
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
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
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
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
WiseAlpha has introduced the UK’s first-ever dedicated High-Yield Corporate Bond Innovative Finance ISA (IF ISA), providing retail investors with unprecedented access to corporate bonds. This move allows individuals to invest in high-yield corporate bonds within a tax-efficient ISA framework, a market previously exclusive to institutional investors. The corporate bond market has historically been inaccessible to
Netradyne, an industry-leading SaaS provider of artificial intelligence (AI) and edge computing, announced the close of a $90 million Series D round led by Point72 Private Investments with participation from Qualcomm Ventures and Pavilion Capital. The capital infusion will accelerate the company’s growth trajectory through strategic investment in R&D, enhanced go-to-market investments, and aggressive global
Archive Intel, a leader in AI-powered compliance archiving solutions, has secured an additional $1.5m in funding to accelerate its growth. The funding round was led by Garuda Ventures, a San Francisco-based investment firm focused on early-stage companies, with participation from existing investor Social Leverage. Archive Intel offers a cutting-edge compliance platform designed to help financial
