The collapse of the US bank Silicon Valley Bank (SVB) HSBC has bought its UK subsidiary, SVB UK, for £1. Customers and businesses who have deposited funds into SVB UK will have normal access. Taxes were irrelevant. “Continue to bank as usual, safe in the knowledge that their deposits are backed by the strength, safety
Carrefour Italia and Nexi have announced a partnership to enable citizens to pay postal payment slips and PagoPA notifications at the cashiers of over 190 stores in Italy, including Carrefour Hypermarkets and Carrefour Supermarkets. Developed in collaboration with Poste Italiane, the service allows payment in any way. The solution, based on the Nexi technology platform,
Weavr, the London-based startup that allows businesses to integrate banking and payments into their mobile apps or SaaS platforms, has acquired open banking B2B platform, Comma Payments. With Comma, Weavr claims to have become the first integrated finance provider to combine Banking as a Service (BaaS) and Open Banking in one integrated payments solution for
InvestCloud, the global leader in digital transformation for the financial industry with over $6 trillion in assets, today announced the release of the next evolution of InvestCloud White, called InvestCloud White FMB+. The new product offering includes integrated front, middle and back-end InvestCloud solutions, as well as simple multi-channel asset management services to provide comprehensive
UK-based lending platform Funding Circle has partnered with Sage, the accounting, finance, HR and payroll technology company for small and medium-sized businesses (SMEs). This partnership aims to simplify secure financing for small businesses. With the integration of Sage Accounting and Funding Circle API, businesses will now be able to apply for loans and manage their
Revolut, the global financial super app with over 20 million retail customers, today launched Revolut Pay – a new secure online payment feature enabling merchants across the UK and EEA to showcase ” Revolut Pay” as a payment method on product, cart and checkout page. Revolut Pay aims to disrupt the payment ecosystem by making
The Citi Foundation announced the first-ever Global Innovation Challenge to help scale the impact of nonprofits around the world developing innovative solutions to improve food security. This first challenge will provide a total of $25 million to 50 organizations to support piloting or scaling up ideas and projects designed to address this issue and strengthen
UK car finance fintech Carmoola has raised an £8.5 million Series A funding round and a £95 million credit facility to revolutionize the way people pay for cars. The round was led by US fintech experts QED Investors, with participation from existing investors VentureFriends and InMotion Ventures, the investment arm of Jaguar Land Rover. It
Fintech Froda has partnered with Visa to develop an entirely new business lending solution. Initially, Froda and Visa are partnering with Nordic digital bank Lunar. Under the partnership, Lunar customers have access to business loans through Froda’s proprietary integrated lending platform, which offers payments and repayments directly via Visa cards. Visa’s presence in more than
Denmark’s Neobank Lunar has raised 35 million euros to invest and grow the business in order to further expand in Northern Europe and accelerate the path to profitability. A bank press release said the “vast majority” of existing shareholders contributed to the increase. Lunar’s most recent fundraising was 212 million DKK (about 28 million euros)
Flutterwave, Africa’s leading payment technology company, today announced that it has obtained a Payment Provider and Payment Facilitator license in Egypt. The licenses will allow Flutterwave to act as an official payments provider in the country, collect payments on behalf of its customers, and settle payments locally and globally. These licenses will allow Flutterwave to
Lulalend, a South Africa-based digital lender catering to underserved small and medium-sized businesses (SMEs), has completed a $35 million Series B transformation funding round. (R600 million). Lulalend will use the capital to expand its business and fill South Africa’s persistent SME credit gap, estimated at more than $20 billion a year, according to the International
