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Equifax and Qlarifi Team Up to Analyze the Role of BNPL Data in Credit Decisions
Equifax®, a global leader in data, analytics, and technology, has teamed up with Qlarifi, the first real-time consumer credit database specifically designed for Buy Now, Pay Later (BNPL) lending, to conduct a groundbreaking joint study. The focus of the study is to evaluate how the inclusion of Buy Now, Pay Later data affects credit risk assessments and fraud prevention efforts. This collaboration aims to bring much-needed insight into the growing BNPL market, where over half of U.S. consumers currently utilize BNPL services, and a significant portion—35%—plans to increase their usage in the coming years.
As BNPL usage continues to rise, both Equifax and Qlarifi recognize the urgent need to study the predictive capabilities of real-time Buy Now, Pay Later data. The joint research will mark the first U.S.-based industry-wide study that incorporates live BNPL data from multiple providers, assessing its impact on credit evaluations and its potential to detect and prevent fraud. By offering this in-depth analysis, the two companies aim to provide lenders and financial service providers with valuable data to optimize decision-making processes.
Qlarifi’s platform is uniquely designed to handle short-term credit, giving lenders a secure and efficient means of tracking BNPL transactions across providers in real-time. This technology enables lenders to access detailed, up-to-the-second insights into consumer borrowing behaviors, helping to detect issues like loan stacking and offering transparency into BNPL usage patterns.
Jake Osborne, Senior Vice President and General Manager of Fintech and Payments at Equifax, emphasized that the collaboration with Qlarifi and multiple BNPL providers will ultimately help the industry identify strategies to reduce loan stacking risks and improve the predictive capabilities of Buy Now, Pay Later data, all while benefiting consumers.
Understanding how this data influences loan decisions has become crucial for lenders as more consumers use BNPL services. Traditional credit reports remain a cornerstone for evaluating financial reliability, but the study will also explore how BNPL data can offer additional insights, identify early signs of financial strain, and protect consumers from overextending themselves. By incorporating Buy Now, Pay Later data into credit decisioning, the study could also enhance access to credit for individuals with limited or no traditional credit history. According to Alex Naughton, CEO of Qlarifi, this study will be an important step in providing a more thorough and transparent picture of BNPL behavior, assisting consumers and lenders in making more informed choices.
Bybit and Tether Unite to Drive Crypto Adoption in Brazil
Bybit, recognized as the world’s second-largest cryptocurrency exchange by trading volume, has entered into a strategic partnership with Tether, the leading digital asset company and issuer of USD₮, the most widely used stablecoin globally. The collaboration focuses on accelerating cryptocurrency adoption in Brazil through a combination of institutional partnerships, sponsorship of major events, and expansive educational programs.
An important aspect of this partnership is the joint sponsorship of Blockchain Rio, one of the biggest blockchain events in Latin America. New users who sign up on the Bybit platform during the event will receive a special bonus in USD₮, a move intended to attract and engage first-time users with the digital asset ecosystem. To translate the partnership into real-world utility, Bybit and Tether are in active discussions with Visit Rio to explore integrating cryptocurrency into the tourism sector. In order to make Rio a crypto-friendly and creative vacation destination, the idea suggests offering incentives and discounts in USD₮ to tourists who wish to use digital assets for a variety of services, excursions, and purchases at local businesses.
Looking ahead, Bybit is set to roll out a nationwide educational initiative to raise awareness and support responsible cryptocurrency usage. This will involve “Learn and Earn” campaigns, rewarding users for completing courses on blockchain and digital assets. These efforts will be reinforced through in-person events such as workshops, seminars, and university engagements aimed at educating students, developers, and entrepreneurs.
Earlier this year, Bybit appointed Israel Buzaym as the Country Manager for Brazil. Since his appointment, the company has rapidly expanded its footprint in the region and launched localized offerings like Bybit Pay and Bybit Card, helping bridge the divide between traditional finance and digital currency. With Tether’s market cap surpassing $114 billion, the partnership marks a significant step toward mainstreaming cryptocurrency use in Brazil.
Splitit and Samsung Revolutionize In-Store Payments with New Wallet Integration
Splitit has joined forces with Samsung to introduce a groundbreaking installment payment feature within Samsung Wallet. This collaboration brings users the ability to make in-store purchases and pay over time, utilizing their existing credit cards directly at the point of sale. This marks a major milestone, as it’s the first time an installment option is natively integrated into Samsung Wallet, offering a seamless and accessible way for consumers to manage their payments without the need for new credit applications or additional checks.
Samsung Wallet, which is already trusted by millions of people to store IDs, boarding passes, credit cards, and other documents, now offers even more financial functionality. According to Drew Blackard, Senior Vice President of Mobile Product Management at Samsung Electronics America, this new feature empowers users to take greater control of their spending by spreading costs over time, all while staying within the familiar Samsung Wallet environment.
Consumer preference is already shifting toward this model. Findings from the J.D. Power 2025 U.S. Buy Now, Pay Later Satisfaction Study indicate that card-linked installment plans outperform traditional BNPL services in terms of customer satisfaction. Now, with this new Samsung Wallet feature, eligible users can split their payments into manageable portions, directly from their phone, while shopping in-store.
Splitit’s CEO, Nandan Sheth, emphasized the significance of this innovation, pointing out that while in-store shopping dominates U.S. consumer spending, installment solutions have largely been limited to online platforms—until now. With this partnership, Splitit is changing the landscape by making card-linked installment payments available in physical stores through Samsung Wallet, delivering convenience to customers and a powerful sales tool for merchants.
This new installment function will be made available to owners of Samsung Galaxy smartphones, including those with the Galaxy Z Fold7 and Z Flip7, in a few U.S. states starting on July 25, 2025. Users simply need to link an eligible Mastercard or Visa credit card to access this flexible, in-wallet payment solution, designed to make everyday spending easier and more budget-friendly.
PayPal World Unites Global Wallets: A New Era for Cross-Border Payments
PayPal has announced a groundbreaking global initiative—PayPal World—which brings together many of the world’s major digital wallets and payment systems on a unified platform. The launch begins with interoperability between PayPal and Venmo and includes partners representing close to two billion users worldwide. This strategic move aims to revolutionize how people send money, shop both online and offline, and engage in commerce using AI agents across international borders.
For consumers, PayPal World removes the barriers often faced when trying to shop or transfer money internationally. While domestic wallets are widely used within countries, they have traditionally been limited when it comes to cross-border functionality. PayPal World changes this by allowing users to pay international businesses using their local wallets and currency, offering smooth access to millions more merchants. Consumers will also be able to transfer money globally with greater ease, making cross-border interactions as simple as local ones.
Businesses, on the other hand, benefit from automatic access to a massive user base with no need for additional tech development. Instead of building separate integrations for every payment method, merchants will now be connected to a growing global network through a single platform. This expands their reach, improves checkout experiences, and enables them to cater to international customers with ease—whether online, in-store, or via AI-powered shopping assistants.
PayPal World is built as a flexible, cloud-native solution with open APIs and a multi-region deployment model, ensuring global availability with low latency. It’s designed for seamless expansion, letting new wallets and payment platforms join without friction. As digital commerce evolves, the platform is positioned to integrate advanced technologies such as dynamic payment buttons, stablecoins, and AI-driven shopping interactions.
NPCI International Payments (UPI), PayPal, Tenpay Global, Venmo, and Mercado Pago are among the early launch partners. Thanks to the arrangement, PayPal and Venmo will be able to send money to each other from anywhere in the world for the first time. Venmo users will soon be able to purchase overseas at establishments that take PayPal.
Whether it’s making everyday purchases abroad or sending a birthday gift across continents, PayPal World aims to make global commerce as familiar and effortless as a local transaction. The rollout is set to begin this fall, with more partners expected to join over time.
Smarter Lending Begins with Real-Time Debt Data: Algebrik AI and Spinwheel Partner for AI-Driven LOS Innovation
Spinwheel, a prominent leader in real-time consumer credit data and AI-powered payments, has formally announced a strategic partnership with Algebrik AI Inc., a Delaware-based business based in New York City that is credited with creating the first cloud-native, AI-driven, digital-age Loan Origination System (LOS) in history. This partnership is a major step in changing the lending landscape and comes after Spinwheel’s recent ~$30 million Series A funding round. Through this partnership, Spinwheel’s advanced credit data solutions will be seamlessly embedded within Algebrik One — Algebrik’s comprehensive lending platform that integrates Digital Account Opening, the Lender’s Cockpit (LOS), Omni-channel Point-of-Sale (POS), an AI-powered Decision Engine, and Portfolio Analytics. Credit unions, community banks, and fintech lenders can now easily access verified consumer debt information and payment features in real-time within their lending workflows thanks to this native integration, which speeds up loan approvals, improves borrower experiences, and boosts decision-making confidence.
The collaboration transforms the lending process by embedding Spinwheel’s debt APIs into Algebrik’s platform, enabling lenders to collect real-time, verified credit data using just minimal borrower information like a phone number and birthdate. This grants immediate visibility into liabilities across various categories, including credit cards, student loans, mortgages, auto loans, personal loans, and non-traditional credit sources. By eliminating the need for manual documentation, the partnership significantly reduces processing errors and friction in loan applications. Spinwheel’s agentic AI and API tools will now work directly within Algebrik’s LOS, enhancing credit risk assessment, streamlining compliance, refining underwriting workflows, and providing borrowers with a more seamless experience.
Commenting on the partnership, Pankaj Jain, Founder and CEO of Algebrik AI, highlighted that embedding real-time debt data into the lending journey empowers lenders to make more responsible and data-driven decisions. He noted that with Spinwheel integrated into Algebrik One, lenders gain not just better data but payment-enabled workflows and a holistic understanding of borrower obligations, fundamentally reimagining frictionless and intelligent lending. Tomás Campos, Co-Founder and CEO of Spinwheel, echoed this sentiment, stating that the collaboration advances their mission of enhancing financial outcomes for both lenders and borrowers by delivering more accurate and actionable credit insights within the borrowing experience.
Algebrik AI’s platform is designed specifically to modernize loan origination for today’s digital-first generation. Its focus is on helping credit unions remain competitive while engaging and retaining members in a rapidly evolving financial landscape. Algebrik AI allows credit unions to emphasis on helping their communities by streamlining intricate operations and automating the lending process. Meanwhile, Spinwheel continues to disrupt the consumer credit space by partnering with financial institutions to provide real-time, verified credit data and integrated payment capabilities through its APIs and AI-powered solutions. With a rapidly expanding user base and significant debt volume managed across its network, Spinwheel is positioned as a transformative force in modern credit management.
Fidelidade Secures ‘A’ Credit Rating from S&P, Reinforcing Global Market Leadership
Following a formal evaluation by Standard & Poor’s (S&P), a well-known credit rating agency with a stable outlook, Fidelidade – Companhia de Seguros, S.A. and its reinsurance branch, Fidelidade RE – Companhia de Resseguros, S.A., were given long-term Issuer Credit Ratings (ICR) and Financial Strength Ratings (FSR) of ‘A’. This rating reflects S\&P’s confidence in Fidelidade’s continued market leadership, both within Portugal and across its international operations, over the next two years. The agency expects the company to sustain its robust capital strength and consistent profitability, underpinned by steady growth and prudent risk management practices.
Fidelidade’s geographically dispersed insurance portfolio and varied revenue streams were highlighted in S&P’s study. Leveraging its dominant 30% market share in Portugal alongside its expanding presence in markets such as Peru, Chile, various African nations, and parts of Asia, Fidelidade has strategically positioned itself as an international insurance leader. In 2024, the company demonstrated strong financial results, achieving a 12.6% increase in insurance revenues and generating a net income of EUR 173.5 million. A noteworthy indicator of its financial resilience, Fidelidade’s Solvency II ratio reached an impressive 194% at the close of 2024, affirming its stable profitability and solid capital reserves. Its international business activities now contribute 30% to total premiums, underscoring meaningful progress in its globalization strategy.
Fidelidade’s geographically dispersed insurance portfolio and varied revenue streams were highlighted in S&P’s study. This achievement marks Fidelidade’s second major credit rating milestone within a short period. Back in September 2024, Fitch Ratings upgraded Fidelidade’s ratings to A+ for Insurer Financial Strength (IFS) and to A for Issuer Default Rating (IDR), both with a stable outlook—a rating that stood as the highest ever awarded to a Portuguese company at the time.
Rogério Campos Henriques, CEO of Fidelidade, commented that this recognition from two leading global agencies is a testament to the company’s disciplined financial management and its ongoing focus on delivering value to customers, shareholders, and partners.
New Titanium Boost Card and SmartPay Calendar by Receive Transform SMB Finance Management
Receive, a fintech startup focused on expanding financial access for small and medium-sized businesses, has officially emerged from stealth mode with the announcement of its latest milestone. With the help of further debt financing, the company announced that it has raised its total funding to approximately 7.1 million dollars, including a $4 million startup funding round headed by NGVP. Prominent financiers including Blank Ventures, Verissimo Ventures, Insight Partners, Corner Ventures, and Clocktower Technology Ventures are among the backers. Founded by Ariel Blum, a seasoned fintech executive with experience at Melio, Green Dot, and American Express, Receive was born from a clear understanding of the financial barriers facing SMBs. Blum recognized that traditional financial infrastructures were not equipped to meet the fast-moving demands of modern businesses, which often struggle with delayed payouts, extended settlement periods, and costly credit, all contributing to cash flow problems that hinder growth. According to data from SCORE, a partner of the U.S. Small Business Administration, 82% of small businesses fail due to cash flow issues.
In response, Blum launched Receive, positioning it as the first Earned Revenue Access platform designed to help small businesses access the revenue they’ve already earned, without the need for credit checks, interest, or conventional underwriting. By transforming pending sales into immediate spending power, Receive aims to empower businesses to reinvest more quickly and operate without accumulating debt. In addition to offering its platform directly to businesses, Receive operates through a white-labeled partnership model, enabling payment processors, ISOs, and software providers to integrate this solution seamlessly, generate new revenue streams, and strengthen merchant relationships.
In order to promote its purpose, Receive teamed up with Titanium Payments to launch the Titanium Boost Business Mastercard, which gives Titanium’s network of merchants direct access to Earned Revenue. This card allows businesses to convert pending settlements into usable funds instantly, supporting Receive’s goal of creating a more responsive and adaptable financial ecosystem for SMBs. Ariel Blum highlighted how critical immediate revenue access can be, citing the example of a local mechanic who, without timely access to funds, was unable to purchase parts and take on new jobs, illustrating how traditional financial delays can stall growth. With Titanium Boost, businesses gain the flexibility to access funds as needed, avoiding operational disruptions.
In addition to launching the Titanium Boost card, Receive introduced the SmartPay Calendar, a tool designed to transform cash flow management into a competitive advantage. This repayment system allows businesses to choose their repayment schedules and rewards early repayments with increased spending capacity. Through these innovations, Receive is working to redefine financial management for small businesses, providing tools that offer greater control, flexibility, and operational efficiency, ultimately helping SMBs grow on their own terms. The Titanium Boost Business Mastercard is issued by Patriot Bank under license from Mastercard and can be used wherever Mastercard is accepted.
From Spreadsheets to Smart Dashboards: Inside Finlens’ AI Accounting Platform
Finlens, a new AI-powered solution for accounting, has officially launched, aiming to streamline financial processes for startups and accounting firms alike. Backed by Y Combinator and Accel, Finlens positions itself as a tool designed specifically for founders and financial professionals who seek faster month-end closes, real-time financial visibility, and accurate bookkeeping without the usual spreadsheet clutter that bogs down many early-stage companies. The idea behind Finlens emerged after extensive conversations between its founders, Halim M. and Pawan Rochwani, and numerous founders and accountants. A consistent theme in those discussions was the frustration surrounding the manual and often disorganized nature of early-stage accounting. In response, Finlens was developed to automate much of the accounting backend, managing tasks like categorization, GAAP scheduling, and collaboration without requiring companies to migrate from existing systems like QuickBooks or endure complex change management processes.
According to co-founder Pawan Rochwani, the real challenge is not that founders are neglectful of their financial data but that traditional accounting platforms are not founder-friendly. Most founders have little interest in engaging directly with complex software like QuickBooks, preferring to rely on accountants to decipher and organize the data. Finlens seeks to bridge that gap by transforming the backend processes into something more intuitive and usable. The platform promises to give founders real-time visibility into their financials, reducing the need for accountants to repeatedly chase down receipts and preventing the typical end-of-month scramble many businesses experience.
Finlens offers features such as smart transaction categorization, receipt capture, and the management of split transactions. More complex accounting elements like accruals, compliance processes, and GAAP schedules are seamlessly integrated into the platform’s workflow. CPA firms can also benefit from its organized dashboard, designed to help them manage client accounts efficiently, whether they serve five clients or fifty. By syncing directly with QuickBooks through a two-way integration, Finlens eliminates the need for redundant data entry or double work.
Both founders bring prior experience in product development and go-to-market strategy. Rochwani, having previously held leadership roles in marketing and demand generation at companies like inFeedo and Pepper Content, also has experience as an angel investor. His co-founder, Halim M., had earlier worked on decentralized giving platforms and built widely-used consumer applications like FancyKey.
While Finlens enters an increasingly competitive market of AI-driven accounting solutions, it differentiates itself by focusing on usability and minimal disruption to existing systems. Another player in this growing space is Minerva Accounting, which also leverages artificial intelligence to automate core accounting functions. Like Finlens, Minerva aims to reduce manual workloads, minimize human error, and offer real-time insights into business finances. Minerva additionally promotes smart tax planning tools and on-demand financial chat services, presenting itself as a provider of CFO-level intelligence at a reduced cost.
Both companies reflect a broader trend in which artificial intelligence is reshaping financial operations, simplifying complex accounting tasks, and allowing both startups and accounting professionals to focus more on strategic growth rather than day-to-day financial admin work. Finlens, with its practical integration and founder-focused approach, is positioning itself as a key player in this evolving landscape.
BACKLIT CAPITAL SOLUTIONS LAUNCHES PREMIER LEGAL FINANCE CONSULTANCY
Backlit Capital Solutions today announced the launch of its full-service legal finance consultancy helping claimants, law firms, lenders and investors navigate the legal finance and contingent risk insurance market. Backlit provides capital access and strategic advisory services to claimants and law firms, as well as targeted deployment strategies, portfolio management guidance, risk mitigation, and asset remediation solutions for lenders and investors.
Backlit was founded by Ken Epstein and Matt Leland, who combine more than forty-five years of experience in litigation finance, credit analysis and remediation, and both in-house and law firm legal services. Backlit’s principals have managed large, varied portfolios with hundreds of millions of dollars in claims across dozens of litigation investments.
Epstein, Backlit Principal and Co-founder, said, “Litigation funding is undergoing a period of growth and transformation, providing new opportunities and risks for claimants and investors. As the landscape becomes more complex, participants on all sides of these transactions require experienced, individualized and directed advice to protect their interests. Backlit Capital Solutions was purpose-built to deliver independent, trusted counsel focused on problem-solving and fully responsive to the unique short- and long-term needs of each client in this dynamic market.”
Backlit Capital Solutions provides a full suite of services for entities looking to raise, lend and invest capital:
For Law Firms and Claimants:
- Seamless Fundraising Support: Offering practical advice rooted in deep industry knowledge and proven strategies to ensure a smooth and successful fundraising process.
- End-to-End Transaction Management: Minimizing burdens on attorneys by managing transactions from inception through completion. Backlit organizes, optimizes, and presents key case information to engage the most appropriate capital sources, negotiate favorable economic and non-economic terms, and ensure fiduciary obligations to the funding recipient are satisfied.
- Financial Modeling and Scenario Analysis: Helping clients assess the economic impact of alternative deal structures and financial terms through financial modeling and scenario analysis to ensure well-informed decision-making.
For Lenders and Investors:
- Deal Sourcing and Evaluation: Assisting in finding, evaluating, pricing, and closing legal finance opportunities delivering superior risk-adjusted returns in both primary and secondary markets.
- Contingent Risk Insurance Solutions: Exploring the availability and potential financial benefit of insurance products to protect investor principal.
- Asset Recovery and Liquidity Solutions: Crafting tailored strategies to preserve value in non-performing legal assets, as well as facilitating access to secondary markets for monetization, exit, or redeployment into new opportunities.
- Expert Opinions and Testimony: Delivering formal opinions on legal finance industry practices and market standards, and providing expert testimony in proceedings involving the valuation, treatment, and structure of legal assets.
Leland, Backlit Principal and Co-founder, said, “Litigation finance is at a crossroads. While its use spreads rapidly among claimants and law firms, the competition for funding grows, driving meaningful economic opportunities, as well as risks. Backlit’s deep experience with litigation finance, business, and complex commercial litigation provides unmatched expertise and unique end-to-end support for those pursuing litigation resources in an increasingly challenging market.”
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.”