NEWS
Featured News
Trending News
Optalitix launches Model Monitoring to transform insurance pricing oversight
UK-based InsurTech firm Optalitix has launched Model Monitoring, a new feature for its flagship Optalitix Models platform, offering real-time tracking and analysis of insurance pricing models.
The tool allows insurers to monitor model usage, detect anomalies, and optimise performance, resulting in faster quote generation and more accurate pricing.
Model Monitoring supports all major modelling formats, including Excel, Python, and R, and will be available to clients on a self-service basis from July 2025.
The upgrade also delivers a 70% boost in model performance speed, powered by integration with Google Cloud’s system tracking technology.
Optalitix product manager Ricky Jayes said, “This change is groundbreaking for our clients, giving them far deeper insight and awareness of the performance of their entire model estate.”
Optalitix founding director Dani Katz said, “We believe the inclusion of a single source for model monitoring for insurers’ entire model estate, including their Excel, Python, and R models, is a world first. Optalitix is committed to providing groundbreaking technology to help insurers manage their advanced model estates.”
Tietoevry Banking partners with Finance Innovation to boost Norwegian FinTech innovation
Tietoevry Banking has officially joined NCE Finance Innovation, a key Norwegian FinTech cluster, in a move designed to drive innovation, collaboration and digital transformation across the financial sector.
The partnership aims to enhance knowledge-sharing among industry players.
Finance Innovation is a nationally recognised cluster supported by Innovation Norway and focuses on uniting finance and technology stakeholders across the country. The collaboration is expected to strengthen the national role of Finance Innovation as a hub for customer-led transformation, while also advancing the reputation of the financial sector as a dynamic and attractive career destination for tech professionals.
Tietoevry Banking acting managing director Mario Blazevic said, “We want to contribute to strengthening Finance Innovation’s role as a leading national arena for customer-driven innovation and transformation, helping the financial sector enhance its competitiveness and reputation as an attractive workplace for anyone passionate about technology.”
Finance Innovation CEO Rea Parashar welcomed the partnership, highlighting the strategic value that Tietoevry brings to the cluster. Rea Parashar said, “Tietoevry Banking is a valuable addition to the cluster ecosystem at Finance Innovation. With its broad expertise, extensive experience, and international network, this collaboration can unlock significant benefits for both society and the business community which aligns perfectly with our mission as an industry cluster.”
Tietoevry Banking employs around 3,400 FinTech experts globally, with 1,500 based in Norway across key cities including Bergen, Trondheim, Mo i Rana and Oslo. The company plays a central role in accelerating digital innovation in the region and sees this new partnership as a means to both contribute and learn.
Blazevic said, “The pace of digital innovation and transformation in Norway must increase, and the financial sector is a key catalyst in this effort. With our strong presence both in Norway and internationally, we at Tietoevry Banking are committed to sharing our expertise and experience to help Finance Innovation strengthen its national role, says Mario Blazevic, adding that the partnership will also be an important learning platform for employees.
“Those of us working in technology can never claim to be fully trained. We must continuously evolve, stay on top of trends, and find ways to convert them into lasting value for customers and society. The collaboration with Finance Innovation will be crucial for strengthening our regional presence
Client executive Sveinung André Gundersen underlined the importance of Tietoevry’s open, modular platform in enabling innovation within the FinTech ecosystem. Sveinung André Gundersen said, “Because our systems are based on open and modular solutions, this network will allow us to further strengthen the ecosystem of partners driving innovation and development. We believe and hope that this partnership with Finance Innovation will be a catalyst for further growth and innovation for Tietoevry Banking in the Bergen region — and that it will inspire innovation in other regions as well.”
Tietoevry Banking is a major provider of financial SaaS services across the Nordics and globally. Its suite of offerings spans digital banking, payments, card management, lending, wealth management and fraud prevention. With clients in over 60 countries, the company supports banks and financial institutions in adapting to market demands, complying with regulations, and enhancing customer experiences through secure, scalable technologies. It is part of the wider Tietoevry group, which generates annual revenues of around €3bn and is publicly listed in Helsinki, Stockholm and Oslo.
Lokalbank partners with Tietoevry Banking to power digital transformation
Tietoevry Banking has entered into a long-term partnership with Lokalbank, a network of 16 independent Norwegian banks, to deliver a tailored banking platform for the Norwegian market.
The partnership aims to support Lokalbank’s mission of fostering local community growth through the adoption of a future-ready digital platform. The solution is designed to streamline operations, enhance customer experience, and improve operational efficiency through automation and modernised digital workflows.
Tietoevry Banking brings to the table its full-service technology stack, which includes core banking capabilities, online and mobile banking, payment systems, card services, and anti-financial crime solutions. Built on industry-standard architecture, the platform ensures compliance, security, and rapid deployment.
Lokalbank serves approximately 250,000 private and corporate clients across Norway. By adopting Tietoevry’s platform, the collaboration will benefit from reduced complexity and a more cohesive user experience. Employees will be better positioned to focus on advisory services, thanks to the automation of routine processes.
The five-year agreement, with an optional extension of two plus two years, establishes a structured collaboration framework between Lokalbank, Tietoevry Banking, and the Frende Group. The Frende Group, of which Lokalbank and Sparebanken Norge are key members, includes banks that distribute insurance from Frende Forsikring and partner with Brage Finans and Norne Securities. The framework also enables additional banks to join the group under favourable technology terms.
As part of the deal, Tietoevry Banking will oversee the migration of Lokalbank to its modernised core platform using a phased approach. This process will include clearly defined roles and a strong governance structure to ensure a smooth transition and enable the development of next-generation digital banking capabilities.
Frende Group CEO Stine Neteland highlighted the strategic alignment of the group, stating that having all Frende banks unified under one technology provider opens up significant opportunities for future development and seamless user experiences across their shared ecosystem.
Lokalbank CEO Bent R. Eidem said, “The agreement with Tietoevry Banking provides Lokalbank with a unified technology platform that streamlines operations across the collaboration. Digital workflows and user-friendly tools free up employees to focus on advisory services and sales. Combined with a modern digital interface, this enhances the overall customer experience. Altogether, the partnership with Tietoevry Banking strengthens our banks competitive position.”
Tietoevry CEO Endre Rangnes said, “Being chosen by Lokalbank as a strategic partner is a strong vote of confidence. Our end-to-end technology platform, built on industry-standard architecture, enables cost-efficient banking while meeting high demands for quality and security. Through the delivery of a full-service solution, Lokalbank benefits from significantly simplified integration and faster time-to-market.”
Frende Group CEO Stine Neteland added, “This new technology partnership with Tietoevry Banking enables Lokalbank to offer customers a seamless user experience across banking services and product companies within the Frende network. Combined with lower operational complexity and strong digital interfaces, Lokalbank becomes a highly attractive partner in the Norwegian market.”
Tietoevry Banking acting CEO Mario Blazevic said, “Tietoevry Banking will migrate Lokalbank to its modernised core banking platform using a proven framework that emphasizes strong collaboration, clearly defined roles, and effective meeting structures—ensuring a step-by-step, well-managed transition. This partnership also opens up new opportunities for developing next-generation digital banking services.”
Frende Group CEO Stine B. Neteland said, “We have signed an agreement that enables new members to join the Frende Group directly and benefit from a highly competitive technology deal. Our goal is to remain a collaboration that supports independence while accommodating the diverse needs of different banks.”
Neteland concluded, “That’s why it is especially gratifying that all Frende Group banks are now aligned with the same technology provider. This gives us unique opportunities to further develop our banks, product companies, and deliver outstanding user experiences across our shared ecosystem.”
Cork InsurTech Kayna accelerates global growth with embedded insurance model
Kayna, a Cork-based InsurTech, has announced plans to create 13 new jobs as it expands into the US and UK insurance markets.
The news was shared during a visit from Robert Troy, Minister of State for Financial Services, who met with Kayna CEO Paul Prendergast to discuss the company’s international growth strategy and Ireland’s role as a hub for FinTech innovation.
Founded in 2021 by Paul Prendergast and Peter Bermingham, Kayna delivers embedded insurance solutions for small businesses in sectors such as construction, hospitality, and legal services. The platform enables SMEs to access tailored coverage directly through the software tools they already use. In the US alone, 40% of SMEs are uninsured, highlighting a significant market gap Kayna aims to address.
Prendergast said. “The opportunity is huge. Embedded insurance is forecast to account for 15pc of the global insurance market, worth $1.5 trillion, within a decade. Kayna’s goal is to lead from the front, and to do so from Cork.”
The company is backed by €1m in funding and has secured a major partnership with global broker Willis Towers Watson to support its expansion. Recruitment will focus on software engineers and business development staff, with all roles based in Cork.
Parametrix unveils $2m embedded insurance product for EDR system failures
Parametrix, a pioneer in digital business interruption insurance, has launched a new embedded coverage programme aimed at safeguarding businesses from disruptions triggered by endpoint security failures.
The introduction of this new insurance product comes in the wake of rising demand for improved risk mitigation following high-profile outages.
Notably, the global CrowdStrike incident in July 2024 highlighted the vulnerabilities within Endpoint Detection and Response (EDR) platforms.
As these systems become more central to digital operations, the consequences of their failure have grown more severe, prompting calls for better contingency solutions.
Founded to address the gaps in digital continuity, Parametrix offers parametric insurance products that enable rapid, transparent compensation in the event of technology downtime. By focusing on measurable service interruptions, the firm provides a unique and scalable approach to mitigating digital business risk.
The newly launched embedded coverage product is designed to offer up to $2m in financial protection per client when EDR systems experience failures that halt operations. The programme is exclusively available through selected EDR providers, who will offer it as a value-added warranty for their premium customers. To be eligible, businesses must have at least 100 protected endpoints.
This move is intended to build confidence in EDR platforms by ensuring clients are financially covered should their cybersecurity systems unexpectedly malfunction. By embedding coverage directly within the service package, Parametrix simplifies insurance access while reinforcing trust in digital infrastructure.
The product’s launch further strengthens Parametrix’s leadership in the InsurTech space, especially in the niche of parametric insurance. It reflects the company’s commitment to helping businesses navigate the complexities of digital risk with precision and speed.
WealthTech firm Seeds lands $10m Series A to transform personalised investment experience
Seeds, a US-based WealthTech company focused on modernising investment experiences for financial advisors, has raised $10m in a Series A funding round.
The round was led by global FinTech investor Portage, with additional backing from existing investors Social Leverage and Blank Ventures.
Seeds offers an end-to-end platform designed to help registered investment advisors (RIAs) deliver a more human and client-centric investment journey. By aligning portfolios with investors’ personal values and financial goals, Seeds enables advisors to streamline operations while creating a tailored experience for each client.
The new capital will fuel product innovation, team expansion, and go-to-market efforts, including the rollout of a refreshed brand identity. Seeds plans to enhance its core offering across the full investment lifecycle—allowing advisors to gather client preferences, generate tailored proposals, implement strategies, and communicate insights in a unified system.
To support its growth, Seeds has made strategic hires across product, development, sales, marketing, and customer success.
The latest funding brings Seeds’ total capital raised to over $15m since its launch in 2020.
Portage partner Stephanie Choo said, “Seeds’ vision to confront norms that hold advisors back aligns with our desire to drive meaningful change in wealth management.
“Traditional operational complexity, combined with increasing customer demand for portfolio personalization, is a misalignment that starves advisors’ growth. We’re confident Seeds is uniquely positioned to transform the outdated, transactional, and disconnected investment management experience into one that powers advisory firms of the future.”
Seeds CEO Zach Conway said, “Portage’s vision of the future mirrors our own. This investment demonstrates a mutual commitment to build new tech that actually helps advisors deepen relationships rather than keep them entrenched in legacy tech that forces them to stay behind the scenes. We’re thrilled to join Portage’s vast network of like-minded financial services and technology companies working toward a better future.”
Wagestream secures £300m in debt funding to scale financial wellbeing loans
Wagestream, a UK-based FinTech firm specialising in financial wellbeing solutions for employees, has secured a £300m debt financing facility from global banking giant Citi.
The financing will support the expansion of Wagestream’s Workplace Loans product, which was launched in late 2024 through an early access programme. The product has already been adopted by thousands of users, and the funding will allow the company to scale it further across its UK membership base.
Wagestream offers financial tools aimed at improving employee wellbeing by helping them manage their pay, budget in real time, and access coaching and savings support. The firm’s Workplace Loans are uniquely structured to align with varying income schedules rather than traditional monthly cycles, with repayments made directly via payroll deductions. The loans are also designed to be transparent, with no hidden fees, and carry interest rates starting as low as 5.9% APR. The average representative APR is expected to range between 13.9% and 16.9%.
With the new facility, Wagestream plans to invest further in its Workplace Loans offering, making it more widely accessible to UK employees. The firm also aims to continue innovating within its platform to ensure users can build long-term financial resilience.
Currently, Wagestream’s services are available to over three million employees through more than 2,000 organisations. The platform processes over 10 million transactions each month and facilitates more than £2.5bn in payments.
Wagestream co-founder Portman Wills said, “In just a short period, we’ve seen significant uptake and positive feedback from our members benefiting from fair, accessible credit. This credit facility will allow us to scale our offering dramatically, reaching more employees, with an alternative to the high interest loans offered by traditional financial institutions.”
Fincite and Harvest unite to create European WealthTech powerhouse
Two of Europe’s most prominent WealthTech firms, Fincite of Germany and Harvest of France, have announced a strategic merger to create a new European leader in wealth management software.
The union is supported by private equity investors TA Associates and Montagu and aims to drive growth through acquisitions and an expanded geographic footprint. Both firms will operate under the Harvest Group umbrella, with a shared vision to consolidate the fragmented WealthTech space and build a pan-European champion.
Fincite and Harvest have each developed robust B2B wealth management platforms designed to support financial institutions in delivering tailored, efficient investment solutions. Their software spans the full investment value chain, including onboarding, KYC/AML, advisory, execution, and reporting. By combining forces, they plan to offer deeper, more integrated solutions that can meet the evolving demands of banks and financial firms across Europe.
Fincite co-founder and co-CEO Ralf Heim said, “Today, banks struggle with fragmented and often outdated software systems. We are talking about legacy solutions that are 25 years old or more. This results in a complex and costly IT landscape with limited interoperability. Clients are looking for fewer but stronger partners who can provide deeper and more advanced WealthTech solutions from a single source. Together with Harvest, we are fulfilling this need on a European scale.”
The partnership is expected to accelerate the group’s growth trajectory, with a goal to double revenues within four years. Key markets for expansion include the DACH region, France, Benelux, Italy, and Northern Europe. This growth strategy will be supported by targeted acquisitions to bolster product capabilities and expand into new regions, aiming to position the combined entity as the go-to solution for wealth management technology.
Virginie Fauvel, CEO of Harvest, said, “We are seeing an ongoing wave of modernization in financial institutions. Banks must offer a seamless digital experience, similar to what has become standard in retail banking. The market demands modular and tailored solutions that integrate effortlessly.
“Together with Fincite, we are unlocking synergies and elevating wealth management to a whole new level. This merger represents a major new step for the creation of a solid European group, resolutely focused on development, innovation and customer satisfaction – and it marks the beginning of something truly significant.”
Both brands will continue to operate independently, retaining their current teams and offices. Ralf Heim will join the Harvest Group board while maintaining his role at Fincite. Alongside co-founders Friedhelm A. Schmitt and Stefan Post, and managing director Paul Kammerer, Heim will help steer the next phase of growth.
Kiwi secures $7.8m to grow AI-powered credit platform for Latinos
Kiwi, a FinTech company focused on building AI-driven credit and financial tools for underbanked Latino communities in the US, has closed a $7.8m Series A funding round.
The round was co-led by LIP Ventures and Advent-Morro Equity Partners, with further backing from Morro Ventures, Independent Capital, Neer Venture Partners, Invariantes Fund, and others. This latest funding brings Kiwi’s total equity investment to over $15m.
Founded in 2020 by Dominican Republic natives Mariano Sanz and Alexander Schachter, Kiwi was launched with a mission to address the lack of credit access among Latinos in the U.S. Its technology has since helped more than 100,000 users build credit histories and connect with formal financial services.
Kiwi offers a suite of AI-powered products that cover the entire credit lifecycle—from underwriting and fraud detection to compliance and servicing. The platform has been tailored specifically to how Latino immigrants and US-born Latinos manage their finances, providing access to tools that support spending, saving, borrowing, and staying financially connected.
With over 300% revenue growth in 2024 and ongoing profitability, the company now plans to use the new capital to accelerate its nationwide rollout, advance its AI capabilities, and develop new financial products aligned with the day-to-day needs of its users.
Kiwi CEO Mariano Sanz said, “Access to credit is often the biggest barrier for our customers. When you solve that first, you earn the long-term relationship. Our customers don’t want just another app. They want someone who sees them, understands them, and helps them thrive in a market where they’ve been historically overlooked. That’s what we’re building.”
Nomupay raises $40m to expand Asia payments with SBPS partnership
Nomupay has secured $40m in funding alongside entering a strategic partnership with Japan-based SB Payment Service Corp (SBPS).
According to Tech EU, the latest funding round, which values Nomupay at $290m, includes an investment from SBPS. The capital injection marks a milestone in the company’s efforts to accelerate cross-border payment capabilities between Asia and the rest of the world.
Founded in 2021, Nomupay offers a seamless, all-in-one payments platform serving over 1,500 merchants globally. With a team of more than 230 employees, the company facilitates pay-ins, payouts and acquiring via a gateway-agnostic solution integrated through a single API and managed within a single back office environment.
The new funding will enable Nomupay to expand its infrastructure further across Japan and Asia, simplify inter-regional transactions, and add more local payment methods and country-specific services. This will enhance accessibility for European, SEA, Middle Eastern and global merchants seeking to do business in Asia.
SBPS aims to use the partnership to grow its international footprint while enhancing its payment offering through improved scalability and broader payment options. Nomupay’s unified solution aims to address the fragmented regulatory and payment preferences across Asian markets, reducing the operational burden for businesses entering the region.
Nomupay group CEO Peter Burridge said, “We are very excited to announce the SBPS investment in our business and the formalisation of a strategic partnership. Since our inception in 2021, we have been robustly active in the region. The SBPS investment now enables us to double down and support inter-regional commerce by adding additional countries and payment methods to the platform in order to support bi-directional access between Japan, Asia and the rest of the world.”
SB Payment Service Corp. representative director, president and CEO Jun Shimba said, “With Nomupay as a key partner, we will leverage Nomupay’s payment solutions to support our clients entering the Asian market.”
This strategic investment also reinforces Nomupay’s ambition to become the leading payment platform across Asia by simplifying access and reducing operational friction for companies navigating the region’s diverse regulatory landscape.
Saudi FinTech Stitch raises $10m to streamline digital banking infrastructure
Stitch, a Saudi Arabia-based FinTech company, has raised $10m in seed funding to support its mission of transforming how financial and non-financial institutions build banking and payment products.
The round attracted backing from investors including Arbor Ventures, COTU Ventures, Raed Ventures, and SVC. It also saw participation from family offices and industry veterans such as Marqeta founder Jason Gardner and Abdulmalik AlSheikh, a key figure in building Saudi Arabia’s payment networks mada and Sadad.
Founded in 2022, Stitch operates as a unified infrastructure platform enabling institutions to build, launch, and scale financial services quickly and efficiently. Its API-driven solution is tailored to overcome the inefficiencies of legacy financial systems, offering a faster, more streamlined approach for creating modern digital products.
The new capital will be used to grow Stitch’s team and further enhance its platform’s capabilities. With clients already spanning Saudi Arabia, the UAE, and parts of East Africa beginning with Kenya the company is positioning itself as a key infrastructure provider for banks, FinTech firms, and enterprises looking to embed financial services into their offerings.
Stitch CEO Mohamed Oueida said, “At Stitch, our vision is to reinvent how financial and non-financial institutions bring banking and payment products to market.”
“Today, the process of building financial products is broken. Businesses are forced to navigate outdated legacy systems and complex regulatory frameworks, making things slow, expensive, and mostly painful. It doesn’t have to be this way. Stitch exists to change this. Institutions should be able to focus on what matters and have a platform that can mold around their creativity. We are generally looking to make this process a lot more enjoyable for our partners.”
SVC deputy CEO and chief investment officer Nora Alsarhan said, “Our investment in Stitch is driven by our commitment to supporting the growth of innovative Saudi-based startups, enabling them to compete both regionally and globally. We believe Stitch has the potential to play a significant role in developing a more capable and resilient financial ecosystem in the Middle East and around the world.”
Belgian FinTech Auditstage lands €750k to transform financial audits with AI
Belgian start-up Auditstage, an emerging player in the AuditTech sector, is developing an AI-powered collaboration platform to streamline and modernise the external audit process.
The company has raised €750,000 in pre-seed funding from venture capital firm Smartfin.
Founded in 2024 by certified auditor Natalia Khamraeva, Auditstage aims to overhaul the traditional financial audit by creating a digital command centre for external audits. The platform integrates tools, workflows, and communications into one AI-native environment.
Auditstage’s technology focuses on intelligent automation to eliminate manual, repetitive tasks that slow down audit cycles. The AI agents are designed to let auditors and accounting teams concentrate on delivering high-quality financial reporting. Although the platform is still in the pilot phase, several Belgian audit firms are already trialling it ahead of a broader launch scheduled for autumn 2025.
The funding will be used to accelerate the platform’s development, expand the founding team, and prepare for a wider commercial rollout in 2026. The company’s long-term goal is to become the default audit solution globally, replacing outdated legacy systems with a smarter, more connected approach.
Auditstage founder and CEO Natalia Khamraeva said, “Auditors today rely on a patchwork of tools and communication channels to get the job done. Auditstage streamlines that process by integrating everything into one secure, collaborative environment that is AI native and that uses intelligent automation for tasks nobody likes.”
Smartfin founding partner Jürgen Ingels said, “We’re seeing the wave of automation that first transformed accounting now ripple into the audit world, a high-stakes industry with real pain points. With Natalia’s deep audit expertise and bold product vision, we see tremendous potential for disruption in the AuditTech space.”
Personal finance platform Monarch raises $75m to scale financial wellness tools
Monarch, a personal finance platform focused on improving financial health for households, has raised $75m in a Series B funding round.
The round was co-led by FPV Ventures, represented by Wesley Chan, and Forerunner Ventures, led by Eurie Kim. Existing backers Menlo Ventures, Accel, SignalFire, and Clocktower Ventures also took part in the latest raise.
Founded six years ago, Monarch offers consumers a centralised view of their personal finances. The platform allows users to connect to a wide array of financial institutions, track their net worth, manage cash flow and budgets, and plan for long-term financial goals. It also features collaborative tools for couples and financial advisors, alongside a personalised advice function.
The new capital injection will be used to scale the Monarch team and broaden the capabilities of the platform. The company plans to invest heavily in product development as it aims to reach more households and improve access to financial wellness tools across income levels.
MuchBetter and NatWest team up to transform B2B banking with new business account offering
MuchBetter has partnered with UK banking giant NatWest to boost its B2B arm, MuchBetter Business (MBB), marking a major step forward in delivering banking solutions for underserved industries and specialised sectors.
The alliance brings together MuchBetter’s FinTech expertise with NatWest’s robust banking infrastructure. Under the partnership, NatWest will provide fund safeguarding, access to payment schemes, foreign exchange services, and core banking support to MBB’s Corporate Business Account clients. These offerings are targeted at businesses struggling to access traditional banking services.
Through its collaboration with a tier-one institution like NatWest, MuchBetter is reinforcing trust and confidence in its services. NatWest’s strong regulatory standing ensures that client funds are protected, and held in dedicated accounts to guarantee transparency and security.
The MuchBetter Business platform is designed to support international operations, offering operational and segregated accounts across 35 currencies. As a direct SWIFT member, the platform also ensures fast, secure, and fully compliant cross-border payments. By integrating with NatWest, MBB can enhance these features while maintaining a smooth, customer-centric banking experience.
MuchBetter CIO Gary Hill said, “This collaboration with NatWest marks a major milestone for MuchBetter Business as we expand our B2B offering and underscores the credibility of what we’ve built at MuchBetter. We’re proud to offer a robust B2B solution that empowers businesses. Partnering with an esteemed institution like NatWest reinforces their confidence in our offerings and our vision for the future of business banking.”
NatWest head of transaction services and trade Ritu Sehgal added, “NatWest chose to collaborate with MuchBetter due to its compelling business case, supported by an impressive track record of success. MuchBetter’s advanced bank-grade technology and experienced team further reinforce its position as a reliable and innovative partner. Together, we are well-equipped to deliver exceptional financial solutions tailored to the unique needs of our clients.”
FinTech giant Airwallex secures $300m to scale global payments platform
Airwallex, a global financial platform for modern businesses, has raised $300m in a Series F funding round, taking its total funding to over $1.2bn and placing the company’s valuation at $6.2bn.
The latest round features a mix of primary and secondary investment, with $150m in secondary share transfers. Investors include Square Peg, DST Global, Lone Pine Capital, Blackbird, Airtree, Salesforce Ventures, and Visa Ventures, as well as several leading Australian pension funds.
Founded in Melbourne, Airwallex has established itself as a key player in the FinTech space by offering cross-border financial infrastructure and services. Its core offering enables businesses to move money globally through a network built from the ground up, with direct integrations into local clearing systems and card networks. The firm supports local account creation in over 60 countries and processes transactions in more than 150 markets.
The company plans to use the new capital to continue expanding into markets such as Japan, Korea, the UAE, and Latin America. It also aims to boost its go-to-market operations across Europe, North America, and South East Asia, while further enhancing its financial infrastructure and software.
Airwallex has been experiencing rapid growth, reporting $720m in annualised revenue as of March 2025, a 90% year-on-year increase. The firm expects to hit $1bn in revenue run rate this year and currently supports over 150,000 businesses globally. Its gross profit in the Americas and Europe has grown at a CAGR of over 250% over the past four years.
Airwallex co-founder and CEO Jack Zhang said, “The global financial system wasn’t built for today’s borderless economy. Too many businesses are held back by legacy infrastructure that’s slow, costly, and fragmented. At Airwallex, we’re building a new foundation for the global economy – one that’s fast, seamless, and built for scale. This investment marks a major milestone in our journey to redefine global finance, and to empower businesses everywhere to grow without limits.”
Amsterdam-based SMB banking platform Finom lands $105m from General Catalyst
Amsterdam-based Finom, a digital banking platform tailored for small and medium-sized businesses, has reportedly raised $105m in growth funding.
The capital injection, equivalent to €92.7m, comes from General Catalyst’s Customer Value Fund, according to a report from TechCrunch. In a notable move, the round did not involve any equity exchange, making it an unconventional investment structure.
Finom said the funds will be used solely to support growth activities, rather than operational or product development costs.
Founded with a mission to streamline financial services for entrepreneurs, Finom offers an integrated suite that combines banking, accounting, invoicing and financial management in a single mobile-first platform. Headquartered in Amsterdam, the company currently operates in over 10 European countries, including key markets like Germany and France.
Finom intends to deploy the new capital to expand its customer base and geographical footprint across Europe.
The firm currently serves more than 100,000 businesses in Germany, France, Spain, the Netherlands and Italy. Finom reports positive unit economics in all markets and has adopted a subscription-based revenue model, alongside income from transaction fees and interest on credit lines from its new lending arm.