NEWS
Featured News
Trending News
Clean energy FinTech CapeZero secures $2.6m to transform project financing
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 streamline and standardise the complex processes involved in securing tax equity and project financing.
CapeZero provides clean energy developers with an innovative solution that reduces the time spent on financial modelling from months to minutes. The platform offers real-time scenario analysis and standardised analytics, allowing project finance teams to operate 50-75% faster.
With the new investment, the company plans to enhance its core platform features and expand its market presence.
CapeZero was founded in 2023 by a team of experts with extensive experience in renewable energy finance and technology. CEO Manish Hebbar brings 15 years of experience in renewable energy and tax credit finance, having closed over 60 clean energy deals amounting to 11 gigawatts of capacity. CTO Sumit Chachra adds significant product and technology leadership experience, having previously served as a global CTO and successful entrepreneur. The team has collectively structured and advised on over $16bn in renewable energy capital deployment.
Speaking about the funding, CapeZero CEO and co-founder Manish Hebbar said, “The renewable energy industry is at a pivotal moment with unprecedented growth opportunities and challenges, and the complexity of tax equity and project financing remains a significant barrier to scaling clean energy deployment. Customers on our platform turn that complexity into a competitive advantage when seeking project finance investment.
“With this funding, we’re building the technology infrastructure they need to streamline these critical financial processes. Our platform enables companies to spend less time troubleshooting spreadsheets and more time focusing on the projects that drive us closer to achieving net-zero emissions.”
Powerhouse Ventures managing partner Emily Kirsch highlighted the importance of CapeZero’s solution, stating, “As we enter the Terawatt Era of renewable energy deployment, the industry urgently needs solutions that can scale with its growth.
“CapeZero’s platform represents a critical step forward in democratizing access to tax equity financing, making it more efficient and accessible for companies of all sizes. With investments in renewable generation and storage expected to grow from $60B to $150B annually by 2030, CapeZero’s solution has the potential to significantly accelerate the deployment of renewable energy projects across the United States and beyond.”
WiseAlpha launches UK’s first high-yield corporate bond ISA for retail investors
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 retail investors due to minimum trade sizes of £100,000. WiseAlpha’s launch removes this barrier, enabling investors to build diversified corporate bond portfolios without the hefty entry cost. This innovation marks a significant milestone in the UK investment landscape.
Sterling corporate bonds offer coupons ranging from 5% to 12%, presenting an attractive alternative to traditional savings accounts and government bonds. WiseAlpha’s High-Yield Corporate Bond ISA allows retail investors to enjoy these returns tax-free, exempting them from capital gains and income tax.
WiseAlpha CEO Rezaah Ahmad said, “This is a watershed moment for the UK investment market. For the first time, investors can access an entire asset class that was previously reserved for institutions. Our High-Yield Corporate Bond ISA represents a leap forward in our mission to democratize finance.”
The new product offers an alternative for equity investors concerned about market valuations. For instance, those holding Ocado equities can diversify by investing in Ocado’s 10.5% bonds via the WiseAlpha ISA. Similarly, investors in peer-to-peer SME lending platforms can shift to corporate bonds issued by larger FTSE-sized companies, offering higher credit quality and competitive yields.
UK investors can allocate up to £20,000 for the 2024/25 tax year across Cash ISAs, Stocks & Shares ISAs, and Innovative Finance ISAs. WiseAlpha also facilitates ISA transfers, providing flexibility for existing holders. Investments within an ISA enjoy full tax exemption, allowing for maximum returns. A 10.5% bond yield within an ISA remains untouched by taxes, compared to a potential 45% tax rate outside the ISA for higher earners.
Rezaah Ahmad added, “With the launch of our High-Yield Corporate Bond ISA, we’re empowering everyday investors to achieve higher tax-free income. This new product aligns with our vision of opening up the financial world to smaller investors and giving them the tools they need to succeed.”
Netradyne Raises $90 Million in Series D Funding Led by Point72 Private Investments
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 expansion, solidifying Netradyne as a global industry leader in commercial fleet technology.
The traditional approach to driver performance and fleet safety is obsolete. Netradyne is pioneering a new era of driver-focused technology backed by over 18 billion vision-analyzed driving miles. Netradyne’s Driver•i is the only solution that can positively recognize good driving behavior. By reinforcing good driving behavior with revolutionary technology, fleets experience reduced accidents, improved driver retention, lower insurance costs, improved tracking and productivity, and better fleet performance.
“The successful completion of our Series D funding round is a significant milestone for Netradyne and a testament to the confidence our investors have in our vision and innovative approach to AI-powered fleet safety solutions,” said Avneesh Agrawal, CEO and Co-Founder at Netradyne. “This funding provides us with the resources to accelerate growth, expand our technology capabilities, and deliver even greater value to our customers worldwide. With this support, we are poised to scale our innovations globally, deepen our impact, and continue advancing safety and efficiency across the transportation industry, redefining what’s possible for fleets and communities alike.”
“Investing in Netradyne is about believing in safer roads and supporting professional drivers,” said Sri Chandrasekar, Managing Partner at Point72 Private Investments. “Since our initial investment in 2018, we’ve witnessed Netradyne’s impressive growth and believe their technology is well-positioned not only to empower fleet managers but also to foster a culture of safe driving. We are excited to continue our partnership with Avneesh and the Netradyne team as they advance their mission to transform the global transportation industry.”
Netradyne’s solutions offer a comprehensive and accurate driver performance assessment by analyzing 100% of drive-time data. Powered by advanced AI, Driver•i delivers unparalleled accuracy in identifying both positive and negative driving behaviors, fostering trust and enabling effective in-cab coaching. In addition to promoting safer driving, these capabilities help fleets shield drivers from false claims, minimize collisions and insurance costs, optimize productivity, and simplify compliance management.
This funding comes on the heels of exciting growth. Since its founding in 2015, Netradyne now reaches over 3,000 customers and over 450,000 active subscribers, serving customers across the United States, Canada, Mexico, Germany, the U.K., Australia, New Zealand, and India, with planned expansion throughout Europe and Japan. Netradyne’s customers include some of the biggest names in global online retail, food and beverage, oil and gas, transportation, utilities, field services, passenger transit, and construction.
Archive Intel raises $1.5m to expand AI-driven compliance solutions
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 advisors and institutions meet regulatory requirements effortlessly. The platform uses AI to simplify workflows, reduce false positives, and support a wide array of communication channels, including email, chat platforms, social media, and messaging apps.
The company plans to use the funding to expand integrations, scale its infrastructure, and drive further innovation across its platform.
Archive Intel has experienced rapid growth, surpassing 220 clients and 2,000 users within just six months of launching in 2024.
Rishi Taparia, co-founder and general partner at Garuda Ventures, said, “Archive Intel’s innovative platform and leadership team are well-positioned to shape the future of communication compliance. We are excited to partner with Archive Intel as they redefine how financial institutions meet regulatory requirements.”
Howard Lindzon, founder and managing partner of Social Leverage, added, “Archive Intel has proven its ability to address critical industry pain points with scalable, cutting-edge solutions. We’re proud to continue supporting their growth.”
Archive Intel CEO Larry Shumbres expressed his enthusiasm for the funding, stating, “Our mission has always been to make compliance seamless, efficient, and future-ready. This additional funding validates our approach and enables us to continue delivering innovative solutions that empower our clients to stay ahead of regulatory challenges.”
Brex secures $235m credit facility to fuel growth of corporate card solutions
Brex, a leading corporate card and spend management platform, has closed a $235m revolving credit facility to bolster its product growth and scale its card solutions.
The two-year credit facility was led by Citi as the senior lender, with TPG Angelo Gordon participating as a supporting lender.
This latest funding initiative is expected to further accelerate Brex’s growth trajectory. The company plans to utilise the credit facility alongside its existing warehouse facilities and master securitisation trust. To date, Brex has completed three securitisation issuances.
Commenting on the announcement, Ben Gammell, chief financial officer at Brex, said, “This transaction highlights the continued momentum of Brex’s card offering and our entire product suite.
“Our capital position remains exceptionally strong, and this credit facility, which follows our largest and most robust securitization to date, allows us to further scale our card solution and empower our customers in making every dollar count.”
Aaron Ong, head of private asset-based credit at TPG Angelo Gordon, expressed enthusiasm for the partnership, adding, “We are thrilled to provide capital support to Brex in its pursuit to offer modern spend management solutions for businesses of all sizes. xThis partnership demonstrates how TPG Angelo Gordon customizes capital solutions to meet the needs of our borrowers, and we are pleased to be part of Brex’s incredible story.”
Founded in 2017, Brex has established itself as a comprehensive financial platform that integrates corporate cards, expense management, banking, bill pay, and travel solutions.
The platform is used by over 30,000 companies, including major names such as DoorDash, Flexport, and Compass. Handling tens of billions of dollars in transactions annually across 120 countries, Brex continues to innovate to help businesses optimise their financial operations.
Spring Financial launches Bloom: Canada’s first AI-driven financial concierge app
This marks a significant milestone as Bloom becomes the first app in Canada to integrate artificial intelligence to provide users with a holistic view of their financial landscape. Designed for everyday Canadians, the app simplifies banking, spending, and budgeting by offering real-time financial insights at users’ fingertips.
Bloom’s core feature is Oscar AI, an intelligent financial assistant capable of answering a range of user-specific queries. For example, users can inquire about their spending on Uber last month or track subscription expenses across platforms. This personalised approach enables users to make informed financial decisions.
Tyler Thielmann, president and CEO of Spring Financial, said, “The last few years have been a challenging financial environment for so many Canadians. Finances are becoming more complicated and there has been very little innovation helping Canadians see their full financial picture in one place. That is why we developed Bloom.
“Bloom uses industry-leading technology to offer users customized financial insights across all of their accounts, right at their fingertips. And with OscarAI, users can have their financial questions answered in seconds.”
The app integrates with all major financial institutions, consolidating various accounts, including bank accounts, credit cards, and savings, into a single, user-friendly hub. Its real-time insights empower users to set specific spending limits, track subscriptions, and categorise transactions automatically, providing a clear picture of their financial habits.
Bloom is particularly advantageous for Canadian renters, offering rent reporting to credit bureaus. This feature helps users build credit histories and unlock better financial opportunities.
Other standout features of Bloom include advanced budgeting tools, subscription and recurring payment tracking, and smart suggestions for financial planning. Available for free download on the App Store and Google Play, the app also offers a premium subscription at $11.99/month for enhanced features.
SC Ventures targets APAC small businesses with new fintech platform
SC Ventures, Standard Chartered’s innovation arm, has today launched a digital platform to assist small and medium-sized enterprises (SMEs) across the Asia Pacific region.
The new venture, called Labamu, offers digital invoicing and billing services alongside integrated banking features. It launches first in Indonesia, but expansion is planned across APAC, tapping into the region’s $2.5 trillion SME market.
The platform aims to help SMEs boost sales through both physical and digital marketplaces. Users can receive payments directly into their bank accounts through embedded banking services, with working capital financing planned for future rollout.
Digital billing, inventory management, and customer relationship tools are also designed to enhance operational efficiency.
“Every small business contributes to shared economic prosperity and we want to empower them,” said Emmanuel Van De Geer, CEO of Labamu. He emphasised the platform’s integration of financial services as a key differentiator in the market.
Southeast Asia’s SME sector accounts for 90% of companies and 80% of employment across six major markets in the region.
Labamu has placed particular focus on female entrepreneurship through its “Wanita Tumbuh Bersama” campaign, which has provided business management training to more than 7,500 SME owners.
In its incubation phase, Labamu attracted over 80,000 SME owners.
Lower integrates Neat Labs technology to set new standards in mortgage efficiency
Lower, a leading digital mortgage lender, has announced its acquisition of Neat Labs, renowned for its end-to-end mortgage origination software.
Lower will integrate Neat Labs’ proprietary software into LowerOS, a comprehensive, cloud-based mortgage platform designed to enhance the borrower experience and streamline loan production costs.
Founded in 2015, Neat Labs has been pivotal in optimising the mortgage process from pricing to loan approval and closing. Neat Labs has notably facilitated over $1bn in loans, enabling borrowers to progress from application to funding in as little as 10 days.
The rollout of LowerOS signifies a pivotal advancement in mortgage technology, offering unprecedented collaboration between borrowers and loan officers. The platform equips borrowers with self-service access to Neat Labs’ sophisticated underwriting engine, allowing them to choose optimal loan products and payment plans. Furthermore, LowerOS automates many labor-intensive tasks within the mortgage process, thereby reducing the time and cost for borrowers to secure loans, while empowering Lower’s extensive network of loan officers to devote more attention to client guidance.
“We’re thrilled to bring Neat Labs into the Lower family. Their technology is the foundation of our next chapter,” Lower CEO and Co-Founder Dan Snyder commented. “Since our inception, we’ve merged state-of-the-art technology with superior customer service. With LowerOS, we are once again revolutionising the mortgage industry, delivering unparalleled operational efficiency and a seamless experience for both borrowers and loan officers.”
Steve Herschleb, Co-Founder and Chief Technology Officer (CTO) of Neat Labs, will transition to Lower as the new CTO. With a robust background in scalable mortgage technology and a former role as Chief Product Officer at Maxwell, Herschleb will be instrumental in the ongoing development of LowerOS.
“LowerOS will change the way consumers think about getting a mortgage whether they are buying a new home, refinancing to reduce their monthly payments or tapping into home equity for major expenses,” Herschleb elaborated. “With LowerOS, borrowers can get approved significantly faster than they can today. It’ll make getting a mortgage feel more like obtaining a car loan or a credit card.”
With the acquisition and the launch of LowerOS, Lower continues to redefine the mortgage experience, blending cutting-edge technology with a commitment to delivering exceptional value and efficiency.
MEXICAN STARTUP CLARA RECEIVES $150 MILLION IN DEBT FINANCING FROM GOLDMAN SACHS
Clara, the leading Latin American tech startup that offers an end-to-end corporate spend management solution for companies in the region, announced today approved financing from Goldman Sachs for an initial $50 million with the option to upsize to $150 million.
“This financing will fuel our planned regional growth and will also allow us to successfully serve more companies, in more countries throughout the region, with our corporate card and spend management platform, as well as our innovative short-term liquidity solutions,”
“This new credit line will allow us to more than double our coverage in Mexico while focusing additional resources in our product and geographic expansion.”
Gerry Giacomán Colyer, CEO & co-founder, Clara.
Clara will be able to maintain the rapid expansion of its corporate card, accounts payables, and short-term financing solutions for companies in Latin America thanks to the facility. By the end of the year, the company hopes to have doubled the number of businesses it works with in Mexico, Brazil, and Colombia, which presently total over 6,000.
In addition to working with Goldman Sachs, Clara announced the hiring of André Henrique Santoro who will join the team as Chief Risk Officer. Santoro brings over 15 years of risk management experience including stints at CitiBank and RappiBank Brasil.
“This deal gives Clara more capital to grow our operations and consolidate our infrastructure,”
“Goldman Sachs’ loan highlights the capital market’s belief in Clara’s business model while also showcasing our potential for further growth.”
André Henrique Santoro, Global Chief Risk Officer (CRO), Clara.
Also, the company announced that Tina Reich, former Chief Credit Officer at American Express, has been working closely with Clara in an advisory capacity.
“Clara brings a unique combination to the global fintech industry,”
“The ability to recognize underserved LATAM markets and to seamlessly scale existing operations to fulfill the demand in those new regions. Now, by working with Goldman Sachs, Clara is ready to begin an exciting new chapter, while continuing to support the growth and success of Latin American enterprise.”
Tina (Chan) Reich, Advisor, Clara.
Already supported by various well-known worldwide equity investment firms, such as Coatue, General Catalyst DST Global, monashees, and Kaszek. The business began operations in Mexico and Brazil in 2021 and declared its official expansion to Colombia in March of this year. Eight months after operations began, the company received a $70M Series B financing round in December 2021, making it the fastest company in Latin America to achieve unicorn status.
ASTROPAY EXPANDS SERVICES WITH THE LAUNCH OF GLOBAL AFFILIATES PROGRAMME
AstroPay, the preferred online payment solution for millions of customers worldwide, has introduced a flagship global Affiliate Programme to give people and companies who wish to make money online and expand their company prospects. The new programme aims to expand AstroPay’s clientele globally while supplying a reliable partner for individuals who are professionally committed to affiliate marketing.
AstroPay created the programme to give affiliate partners access to exclusive offers where they can earn money continuously for each new customer who signs up for the payment platform. The programme offers dedicated teams, knowledge of sales conversion, and revenue sharing commissions of up to 20%. The AstroPay payment platform/solutions have been tried and tested for cross-border payments, so affiliate partners can rely on multilingual assistance and local expertise for any of their needs.
A wide variety of partners, including platforms, comparison websites, and content producers in the payment sector as well as iGaming, forex trading, and many others, will be welcomed by AstroPay.
The programme will be accessible through hundreds of retailers who use AstroPay as a form of payment in countries around Asia, Africa, Latin America, and Europe.
“I am excited to see our new programme go live today. The Affiliate Programme is a new way of doing business with AstroPay. All those who are professionally dedicated to affiliate marketing will be very welcome and we look forward to working together and rewarding partners with a robust partnership that provides added value through an alternative way to continue growing their business.”
Leonardo Alonso, Head of Affiliates at AstroPay.
No matter what vertical industry affiliate partners are from, the programme is made to offer flexibility and agility and is compatible with any other programmes they may already be enrolled in.
THE BACKBASE ENGAGEMENT BANKING PLATFORM IS NOW AVAILABLE IN THE MICROSOFT AZURE MARKETPLACE
Backbase is proud to announce that the Backbase Engagement Banking Platform is now listed in the Microsoft Azure Marketplace, apps and services are offered online for use with Azure. Customers of Backbase can benefit from the reliable and effective Azure cloud platform, which has simplified setup and maintenance.
This listing is the next exciting step in bringing customer-first banking to more financial institutions and Azure customers after launching a global collaboration with Microsoft in November 2021 to re-architect banking around the customer, integrating its Engagement Banking Platform with Microsoft Cloud for Financial Services.
“This is an exciting next step in Backbase and Microsoft’s collaboration,”
“With Microsoft as the cloud platform of choice, we’re making it easier for banks and credit unions to select the Engagement Banking Platform in the Microsoft Azure Marketplace, enhancing the benefit of all new Backbase and existing Microsoft customers.”
Jouk Pleiter, Backbase Founder and CEO.
The Backbase Engagement Banking Platform serves as the engagement layer and fully utilizes Azure’s underlying capabilities in the Microsoft Cloud for Financial Services, an industry-specific, integrated collection of cloud solutions. Backbase provides pre-built customer journeys as well as a powerhouse of tools to enable banks to create unique services. Through the Backbase Marketplace, banks can additionally take advantage of Backbase’s connectivity with top core banking providers and best-in-class fintech fulfillment partners.
The sophisticated cloud-based infrastructure layer is then added by Microsoft, which also makes security, compliance, and interoperability easier. This enables banks and credit unions to adopt an end-to-end cloud-based operating model quickly.
“Through Microsoft Azure Marketplace, customers around the world can easily find, buy, and deploy partner solutions they can trust, all certified and optimized to run on Azure,”
“We’re happy to welcome the Backbase Engagement Banking Platform to the growing Azure Marketplace ecosystem.”
Jake Zborowski, General Manager, Microsoft Azure Platform at Microsoft Corp.
THOMA BRAVO TO ACQUIRE PING IDENTITY FOR $2.8B
A renowned software investment firm, Thoma Bravo, has entered into a definitive agreement to purchase Ping Identity, a supplier of the Intelligent Identity solution for the enterprise, for $28.50 per share in an all-cash deal with an Enterprise Value of almost $2.8 billion. The offer is valued at about 63 percent more than Ping Identity’s closing share price on August 2, 2022, the final day of trading before the announcement of the deal, and at 52 percent more than the volume-weighted average price of the stock for the 60 days preceding.
“This compelling transaction is a testament to Ping Identity’s leading enterprise identity solutions, our talented team, and our outstanding customers and partners,”
“Identity security and frictionless user experiences have become essential in the digital-first economy and Ping Identity are better positioned than ever to capitalize on the growing demand from modern enterprises for robust security solutions. We are pleased to partner with Thoma Bravo, which has a strong track record of investing in high-growth cloud software security businesses and supporting companies with initiatives to turbocharge innovation and open new markets.”
Andre Durand, Ping Identity’s Chief Executive Officer.
“A tectonic shift is occurring in intelligent identity solutions for the enterprise,”
“Ping Identity’s unique capabilities and strong position in enterprise identity security make it a great platform to deliver customer outcomes, expand into new use cases and support digital transformations. We are highly impressed with the talented Ping Identity team and look forward to working collaboratively in the years to come.”
Seth Boro, a Managing Partner at Thoma Bravo.
“Ping Identity is a leader in intelligent identity solutions for the enterprise and is well-positioned to capitalize on the significant opportunities in the$50 billion Enterprise Identity security solutions area,”
“Our shared commitment to growth and innovation, combined with Thoma Bravo’s significant security software investing and operational expertise, will enable Ping Identity to accelerate its cloud transformation and delivery of industry-leading identity security experiences for the customers, employees and partners of large enterprises worldwide.”
Chip Virnig, a Partner at Thoma Bravo.
The Ping Identity Board of Directors unanimously authorized the deal, and it is anticipated to close in the fourth quarter of 2022, subject to the usual closing requirements, such as shareholder approval and regulatory approvals. The transaction’s closing is not contingent on any financial issues. Following the sale, Ping Identity will become a privately held corporation and its common stock will be delisted from the New York Stock Exchange. The Company’s headquarters will continue to be in Denver, Colorado.
About 9.7 percent of Ping Identity’s outstanding shares are owned by Vista Equity Partners, and the company has agreed to vote its shares in favor of the deal.
“This transaction is a great outcome, and one we firmly believe maximizes value for all stakeholders,”
“We wish Andre and the entire Ping Identity team continued success and thank them for their commitment and partnership over the last six years.”
Michael Fosnaugh, Co-Head of Vista’s Flagship Fund & Senior MD, & Ping Identity’s Chairman of the Board.
REVOLUT DEEPENS DIGITAL CURRENCY FOCUS WITH 22 NEW TOKENS
Revolut, the financial super-app with 20 million customers worldwide, today announced another push to the platform’s investment offering with the release of 22 new crypto tokens.
With these latest additions, Revolut’s cryptocurrency service now supports 80+ coins, an increase of x8 when compared to the beginning of 2021.
The newly announced cryptocurrency includes the Metaverse token APE, two DeFi tokens: REQ and ETC, and a wide range of other tokens, such as CLV, FORTH, AVAX, SAND, GALA, AXS, JASMY, ENS, DASH, FLOW, IMX, CRO, IDEX, REN, SPELL, PERP, BICO, COTI, and MLN. It is also available to customers in the UK and EEA.
“This is another big year of crypto, and we’ve given a big boost to our offering while empowering people to take more control of their finances and giving them safe access to new tools and services being built in crypto the space”
Emil Urmanshin, Crypto General Manager at Revolut.
Through its financial super-app, Revolut provides a wide range of financial goods, with cryptocurrency becoming a more and more popular option. Customers can set up a stop or limit order so they don’t have to time the market or use the Recurring Buy function to average out volatility. There are many other options to buy and sell cryptocurrency on Revolut. Additionally, customers can collect spare change while out shopping and deposit it in the cryptocurrency of their choice.
Revolut consumers in Britain are becoming more interested in crypto assets, as evidenced by the fact that this year’s number of transactions performed by British clients who bought cryptocurrencies increased by 20% over that of 2021.
Users can access all crypto tokens regardless of their plan, and Standard customers can upgrade to premium plans if they’re interested in receiving cheaper commissions. Customers can invest as little as $1 in crypto tokens. Revolut has unveiled a test program enabling Bitcoin withdrawals for users in the UK who are on the Metal plan. To enable users to transmit their tokens from Revolut to external wallets and exchanges, the company is looking into ways to introduce cryptocurrency withdrawals in Europe.
Customers of Revolut are reminded that cryptocurrencies are not subject to regulation and are not covered by investor protection plans. Cryptocurrency tokens are erratic investments with swift price fluctuations. The value of cryptocurrencies has the potential to fluctuate sharply both up and down, and trading may be taxed. Revolut supports increasing access to cryptocurrencies but recognizes that not everyone is a good fit for it. As a result, the business advises users to do their research before buying or selling cryptocurrencies. When buying or selling cryptocurrency, customers should consult unbiased sources, understand the distinctions between tokens, and take their individual situations into account. Money is at risk.
SAVANA RAISES $45M IN SERIES A FUNDING
Savana, a financial software player that helps banks and fintechs go digital, has raised $45 million in a Series A funding round led by growth-stage investor Georgian.
Fiserv, a major player in the fintech industry and a reseller of Savana, participated in the round.
A bank’s technological ecosystem is supposed to be “orchestrated” by Savana’s API-first, cloud-native digital delivery platform in order to break down silos and automate service for bank teams and requests made by customers.
The company claims that its technology can enable digital distribution by integrating easily with both new Gen3 platforms and conventional core banking systems.
“This funding round will help support the growth of our digital delivery platform to enable any bank, whether new or going through the transformation of existing technology infrastructure, to speed time to market of new products and services, support continuous digital innovation, and drive significant operational efficiency.”
Michael Sanchez, CEO, Savana.
GLOBAL PAYMENTS ENTERS DEFINITIVE AGREEMENT TO ACQUIRE EVO PAYMENTS
Global Payments Inc., a leading worldwide provider of payment technology and software solutions, and EVO Payments, Inc., a leading global provider of payment technology integrations and acquiring solutions, today announced that Global Payments will acquire EVO in an all-cash transaction for $34.00 per share.
The deal will increase Global Payments’ target addressable markets significantly, strengthen its global leadership in integrated payments, increase its market share in existing faster-growing regions as well as new ones, and enhance its B2B software and payment solutions by incorporating accounts receivable software that is widely accepted by third parties.
“The acquisition of EVO is highly complementary to our technology-enabled strategy and provides meaningful opportunities to increase scale in our business globally,”
“Together with EVO, we are positioned to deliver an unparalleled suite of distinctive software and payment solutions to our combined 4.5 million merchant locations and more than 1,500 financial institutions worldwide.”
Cameron Bready, President and COO, Global Payments.
In addition to enhancing Global Payments’ scale in established markets including the United States, Canada, Mexico, Spain, Ireland, and the United Kingdom, the purchase will increase its global footprint into desirable new geographies like Poland, Germany, Chile, and, following closure, Greece.
Along with enhancing Global Payments’ current B2B and accounts payable products, the acquisition will include industry-leading accounts receivable automation software capabilities. EVO will also introduce a number of important technological partners and proprietary connectors, including those with the most popular makers of ERP software.
“Joining EVO and Global Payments will unite highly complementary portfolios of technology-enabled products and partnerships to create an even stronger organization serving a broader customer base,”
“Over the last decade, the EVO team has worked diligently to advance our innovative solutions, strengthen the service we provide to our bank and technology-enabled partners, and grow our global footprint. This transaction is an achievement for our company, and we believe it delivers compelling value to our shareholders and accelerates our growth opportunities.”
Jim Kelly, Chief Executive Officer, EVO.
GOOGLE AND APPLE ARE BEING SCRUTINISED FOR SUSPECT CRYPTOCURRENCY APPS.
In the world of cryptocurrencies, fraudulent activity is still unchecked. Crypto trading apps are offered by organizations like Apple and Google. As thieves increasingly produce fake apps with names and logos, there has been an increase in fake apps based on these two.
Apple and Google Call for Scrutiny
Who provides this original(the logos, access to these companies, etc) information?
This is the reason why the two companies are being closely examined. The two businesses should respond to inquiries about their efforts to protect investors from fraud. They should also disclose how they keep an eye on cryptocurrency apps. How frequently they examine the procedure is also a cause for concern because it’s time to investigate the companies and see whether they’re the foundation for supporting cyber criminals.
Criminals having access to a company’s logo indicates that the company may have been involved in shady transactions. It is concerning that fraud is becoming more common even while cryptocurrency prices are falling. Cryptocurrency trading apps give users a simple way to transact, yet a lack of confidence may result in withdrawal.
The two have been questioned numerous times about the situation, but they still haven’t responded, despite having until early August to do so. It is concerning how many fraudulent apps there are in the Google and Apple stores, in addition to romance scams and other false medium exchanges. Scammers should be prevented before they cause cryptocurrency to disappear because there is still hope for the future of technology.
What Google and Apple can do?
The two businesses are able to educate investors about safe cryptocurrency app trading. Investors should be informed in some way when there are dubious apps. Reviews of trading apps should be conducted often to protect investors. This is because con artists constantly seek new tactics. The best solutions are consistently delivered by the technology developers for the advancement of crypto. In the meantime, digital currencies won’t have anything to rely on when they start to seem unreliable.
Put under examination, the two will modify their protocols for keeping an eye on crypto programs. In addition, they will outline their prior actions in relation to the situation. Examining the businesses is a significant step in the elimination of crooks since any weak inks will be exposed. The requirement for reviewing the apps has increased because Google and Apple serve as the foundation for crypto operations.