NEWS
Featured News
Trending News
Trucordia acquires CADA Insurance Services to expand footprint in Louisiana
Trucordia, a leading insurance provider with a team of 5,000 professionals, has announced the acquisition of CADA Insurance Services’ insurance business, further strengthening its presence in Louisiana.
The acquisition is part of Trucordia’s strategy to integrate businesses with strong growth potential in key industries and markets, according to InsurTech Insights.
By bringing CADA Insurance under its umbrella, Trucordia aims to enhance its service offerings and expand its ability to meet the diverse insurance needs of clients. The financial terms of the deal were not disclosed.
CADA Insurance has a strong presence in Louisiana, with multiple offices in Baton Rouge, Chalmette, Gretna, and Kenner. The company provides a variety of insurance solutions, including auto, home, commercial, general liability, and workers’ compensation coverage, catering to a wide range of clients across the state.
Trucordia, known for its client-centric approach, is dedicated to delivering exceptional opportunities and experiences for its clients, employees, and partners.
The company’s expansion strategy focuses on acquiring successful enterprises that align with its vision for long-term growth and enhanced service delivery.
Welcoming CADA Insurance to the Trucordia family, CEO Felix Morgan highlighted the shared commitment to client relationships and service excellence. “The CADA Insurance team is a welcome addition to Trucordia,” Morgan said. “They share our passion for building long-term relationships and partnering with clients to identify and best meet their insurance needs.”
Alta Signa expands insurance capacity with Westfield Specialty International partnership
Alta Signa has added Westfield Specialty International to its insurance capacity panel, enhancing its ability to underwrite Directors & Officers (D&O) and Financial Institutions (FI) risks across the European Economic Area (EEA) and Switzerland.
This partnership introduces an additional €10m capacity, split equally between D&O and FI lines, bolstering Alta Signa’s existing Lloyd’s-backed panel.
The move strengthens Alta Signa’s position as a leading Managing General Agent (MGA) in Europe, ensuring broader insurance capacity and more comprehensive solutions for brokers and policyholders.
Gerard van Loon, CEO of Alta Signa, emphasized, “The addition of Westfield Specialty International to our panel is a significant milestone in Alta Signa’s journey to provide comprehensive and competitive insurance solutions in the specialty market. Westfield Specialty International’s expertise and robust capacity will complement our existing offerings and reinforce our ability to meet the evolving needs of brokers and clients across the EEA region and CH. We look forward to a productive partnership built on shared values of collaboration, integrity, and entrepreneurship.”
This strategic partnership adds €5m in D&O capacity and €5m in FI capacity to Alta Signa’s existing Lloyd’s panel, reinforcing the company’s dedication to expanding its insurance options and providing robust solutions for brokers and policyholders.
Alta Signa’s updated insurance panel now includes:
- Aviva
- Axeria
- Lloyd’s Syndicates, including Aspen, Newline, and Westfield Specialty International
- Markel
- SiriusPoint
- Sompo
James Johnston, Management Liability Class Underwriter from Westfield Specialty International, said, “We are excited to join Alta Signa’s independent capacity panel and bring our expertise to support their D&O and Financial Institutions portfolios across the EEA region and Switzerland. Alta Signa’s reputation for technical underwriting expertise and local market knowledge aligns perfectly with our commitment to delivering high-quality, specialty insurance solutions.”
Sokin lands $15m from BlackRock to fuel global expansion
UK-based payments firm Sokin, which provides international payment solutions for businesses, has secured $15m in debt funding from funds and accounts managed by BlackRock.
This investment follows a $31m strategic investment from Morgan Stanley Expansion Capital.
Sokin has experienced substantial growth in recent months, including a 51% increase in new account openings since the Morgan Stanley investment in July. The company has also expanded its workforce by 130% and recently acquired Norwegian FinTech Settle Group AS, gaining a European EMI license to further its expansion in the region.
The fresh capital will allow Sokin to expand its market presence, develop new products, and scale its team significantly. The company plans to open new offices in London, New York, Toronto, and Dubai, strengthening its global footprint.
Sokin has garnered support from several high-profile investors, including Gary Marino, former chief commercial officer at PayPal, Mark Britto, former chief product officer at PayPal, and Aurum Partners, the investment fund linked to the owners of the San Francisco 49ers. Additionally, former England and Manchester United defender Rio Ferdinand is among its backers.
Founded in 2019, Sokin aims to remove the barriers associated with international payments. The company enables businesses to transfer, hold, and exchange over 100 currencies through its multi-currency IBAN and local currency accounts, offering a streamlined solution for managing global transactions.
Sokin is currently operating at a transactional volume run-rate of over $4.5bn annually and supports a variety of industries, including freight, logistics, and Premier League football clubs, helping them manage global payments with efficiency and transparency.
Sokin CEO & Founder Vroon Modgill said, “We’re on a mission to make a major impact and become the go-to partner for businesses taking on the global stage. This backing from BlackRock serves as a testament to the strength of our proposition, and the rate in which we’ve managed to onboard new business customers. With this funding, we’ll further elevate our product offering, expand our international team, and break into new, untapped markets.”
Tim Fenwick, director at BlackRock Growth Debt, said, “Sokin has developed a unique and compelling proposition that helps solve major challenges facing international businesses. We are glad to support Sokin’s rapid growth trajectory and welcome them to our diverse portfolio of high-growth companies.”
WiseLayer raises $7.2m to enhance AI-powered finance automation
WiseLayer, a New York-based AI FinTech company specialising in digital workers for finance and accounting teams, has raised $7.2m in funding.
The investment round was led by Canaan Partners, with participation from K5 Global, The Fintech Fund, Unpopular Ventures, and several industry angels.
WiseLayer develops AI-powered digital agents designed to automate complex, manual processes within finance and accounting teams. The company’s suite of AI workers includes Angela, an AI agent for accruals and revenue recognition, and Dennis, an AI agent for discrepancies and financial anomalies.
Additional AI agents are being developed to handle bank reconciliations, fixed asset depreciation, lease accounting, and prepaid expenses. More than 100 companies, including mid-sized firms and public corporations, currently use WiseLayer’s AI workforce.
The fresh funding will be used to enhance WiseLayer’s existing AI agents, introduce new automation capabilities, and expand its market presence.
Brendan Dickinson, general partner at Canaan Partners, said, “The exceptional early traction that WiseLayer has achieved with its many large customers, each of whom love their product, demonstrates a clear market need.
“We’re thrilled to support WiseLayer’s next phase of growth as they enhance their AI-powered digital workforce for finance and accounting teams.”
Josh Stein, CEO and co-founder of WiseLayer, added, “Finance & accounting teams have some of the most brilliant people at any company, yet their brainpower is often spent on recurring administrative and compliance tasks like accruals, rev rec, and more.
“WiseLayer’s mission is to build AI agents to automate these repetitive, laborious processes with precision, so that these highly-skilled people can focus on strategic financial initiatives that drive company growth.”
Allra FinTech raises $9.1m Series B to expand early payment services
Korean FinTech company Allra FinTech, which operates the early payment service “Allra,” has raised $9.1m in its Series B funding round.
The investment was led by KB Kookmin Card, which contributed $6.8m, making it Allra FinTech’s second-largest shareholder, according to a report from WowTale. Singapore-based Altara Ventures and Vietnam-based Do Ventures jointly invested $2.3m in the round.
Allra FinTech’s flagship service, Allra Early Payment, is designed to alleviate settlement delays faced by sellers on online marketplaces. Since its inception, the platform has processed over $3bn in cumulative settlements, cementing its position as a leader in the early payment sector.
With the new funding, Allra FinTech plans to expand its team and hire talent to support the growth of the business.
Kim Sang-soo, CEO of Allra FinTech, said, “Over the past four years, we have focused on maintaining the strengths of our ultra-simple early payment service. Even during the Timon-Wemakeprice crisis, we upheld our responsibility as a receivables transferee by refraining from demanding repayment from sellers. This commitment has earned us recognition as a reliable service in the industry, and we are truly grateful for this trust.
“With the Series B funding, we aim to expand into traditional wholesale and retail distribution markets, postpaid service markets, and global services starting in 2025. Our mission remains clear: to become a fintech company that solves the financial challenges of business owners everywhere.”
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.
Clarity AI launches new sustainability tool for European fund managers
Clarity AI has announced the launch of a new solution targeted at fund managers, portfolio managers, and ESG analysts.
According to Finextra, this innovative tool is designed to simplify the complex landscape of sustainable investment fund regulations and labels in Europe, which are increasingly shaped by stringent regulatory demands and the need to combat greenwashing.
The drive behind this new product stems from the evolving regulatory environment, such as the UK’s FCA Sustainability Disclosure Requirements (SDR) and various government or industry-led labels like France’s SRI and Germany’s FNG. These frameworks aim to enhance transparency and reduce the risk of greenwashing in sustainable investments.
What Clarity AI does is crucial in a market where sustainability is paramount. The company specializes in providing technology solutions that help fund managers navigate and comply with diverse ESG metrics and frameworks unique to each market.
The product itself brings all necessary compliance information into one user-friendly platform, helping users monitor their funds against complex metrics and quickly identify any areas of non-compliance. This allows for more efficient investment decisions and better compliance management.
Additional features of Clarity AI’s solution include adaptive technology that updates in line with market changes and new regulations. This is particularly relevant given recent guidelines from the European Securities and Markets Authority (ESMA) that require funds with ESG-related terms in their names to invest at least 80% of their assets sustainably.
Further developments announced include support for new sustainability labels such as the French SRI label and the Belgian Towards Sustainability label, along with screening for the Paris-Aligned Benchmark (PAB) and Climate Transition Benchmark (CTB) exclusions under ESMA Naming Rules.
“The goal is to reduce the amount of time fund managers spend on identifying potential investments that fall short of the standards, and understanding the cause for non-compliance, in order to decide on the best course of action,” Henry Waind, product lead at Clarity AI, said.
“Sustainability regulations and labels are proliferating, making it increasingly challenging for fund managers to keep up,” added Tom Willman, regulatory lead at Clarity AI. “A significant amount of resources is tied up in regulatory obligations. These could be better used to develop sustainable solutions that support end-investors’ sustainability goals, and technology is key to making this process more efficient.”
Cashfree Payments secures $53m in strategic funding
According to IBS Intelligence, this financial boost was spearheaded by KRAFTON, a Korean digital entertainment leader, alongside continued backing from existing investor Apis Growth Fund II, a private equity fund managed by Apis Partners Group (UK) Limited (Apis Partners).
The newly acquired funds are set to enhance Cashfree’s payment solutions and expand its market presence. This partnership is expected to harness synergies with KRAFTON, propelling Cashfree to innovate and pioneer across various digital sectors.
Cashfree Payments specializes in offering a broad spectrum of digital payment solutions aimed at empowering Indian businesses. The company provides secure and efficient transaction options across the digital economy, addressing the needs of businesses of all sizes.
The investment will be utilized to accelerate initiatives in cross-border transactions, security innovations, and international growth. Cashfree aims to focus on sustainable and profitable expansion as it scales up its operations and explores new avenues in the digital payments landscape.
Cashfree has also introduced Secure ID, an advanced identity verification system. This new feature includes a robust suite of APIs and KYC components designed to combat the rising tide of fraud. Secure ID streamlines the onboarding and KYC processes by minimizing user input requirements, intelligently verifying identity documents, and effectively detecting anomalies and fraudulent activities.
Cashfree Payments CEO & Co-Founder, Akash Sinha, commented on the funding, stating, “We are excited to welcome KRAFTON as a strategic partner with continued support from our existing investors, Apis Growth Fund II and the team at Apis Partners. Our mission at Cashfree Payments has been to empower Indian businesses with the ability to transact in the digital economy with unparalleled security and efficiency. This investment will help us accelerate our key efforts across cross-border and security innovations and international expansion as we enter the next phase of our growth journey. Growing sustainably has been core to our identity and how we function at Cashfree Payments. We are focused on driving profitable growth as we scale.”
Sean Hyunil Sohn, CEO of KRAFTON India, also shared his enthusiasm about the partnership, “India’s FinTech industry is experiencing remarkable growth, and we believe Cashfree Payment’s dominant position in India can be replicated globally. As the media and entertainment sector and content consumption patterns in India continue to evolve, full-stack payment systems that specifically address the needs and requirements of the sector are crucial for enhancing user experience. The investment is part of KRAFTON’s ongoing efforts to support innovative solutions that drive growth and foster a dynamic startup ecosystem. We look forward to further strengthening this partnership and exploring future opportunities.”
FinTech firm Pipe expands developer tools to enhance embedded capital integration
Pipe, a FinTech company specialising in embedded financial solutions for small and medium-sized businesses (SMBs), has announced a major expansion of its Pipe Partner Portal, introducing new developer tools aimed at simplifying integration.
The enhancements are designed to make it easier for developers to embed Pipe’s capital services within payment and software platforms. Unlike traditional embedded finance solutions, Pipe’s approach prioritises a “tech-first” model, ensuring seamless integration for partners while accelerating capital delivery to SMBs.
Pipe’s infrastructure enables payment processors and vertical software firms to offer capital solutions without the need to build complex in-house systems. Through its software development kits (SDKs) and APIs, partners can incorporate Pipe’s capital services into their ecosystems, enhancing the merchant experience and unlocking new revenue streams. Businesses accessing capital through Pipe can bypass traditional financing challenges by leveraging their secure transaction data from partner platforms.
The new developer capabilities allow for multiple integration pathways, including a Pipe-hosted option, which can be launched in as little as a week, an Embedded UI that takes one to two weeks, and a Full API integration that provides complete control over the user journey within four weeks.
A key part of the update is the enhanced Pipe Partner Portal, which offers a dashboard and resource centre where partners can track merchant activity, revenue share, and manage embedded relationships.
Deepak Colluru, director of product management at GoCardless, praised the ease of working with Pipe’s technology. “Integrating with Pipe’s Embedded UI was an incredibly smooth process. The Partner Portal’s self-serviceability and comprehensive documentation allowed us to move quickly, while Pipe’s responsive tech team was always there to offer valuable guidance when needed.
“It was clear that the Pipe team was invested in our success, going above and beyond to ensure we had everything we needed. The experience was great from start to finish.”
The new features prioritise key technical enhancements, including real-time feedback through webhooks, increased security with advanced API key management, and a robust sandbox for testing various integration use cases.
Pipe’s chief technology officer, Nate Wiger, emphasised the company’s commitment to developer engagement. “As a software company committed to using technology to improve financial access, we know how important it is to work closely with the developer community.
“Engineering teams are the ones implementing our solutions to put them into the hands of SMBs. By expanding our Partner Portal with a growing set of developer tools and resources, we aim to make it even easier for our partners’ technical teams to embed Pipe solutions, from the initial implementation stage all the way to ongoing post-launch support.”
Yapily to Power Adyen’s Merchant Services Across Europe With Open Banking Technology
Yapily one of Europe’s leading open banking infrastructure platforms – has been selected by Adyen, the global financial technology platform of choice for leading businesses, to strengthen its Open Banking offering. Adyen will use Yapily’s leading data features to streamline onboarding and strengthen account verification, giving even more merchants across Europe a faster, more seamless, highly secure experience.
As the global financial technology partner for leading companies like eBay, Uber, and Just Eat, Adyen helps businesses achieve success faster through end-to-end payments, data-driven insights, and financial products all in a single solution. Its decision to add Yapily to its open banking offering for business account information is a testament to the data quality and industry-leading coverage Yapily’s platform provides. It also marks the beginning of a relationship in which Yapily and Adyen will continue to explore additional open banking-driven services, including creditworthiness assessments for loan decisions and beyond.`
Adyen will go live with Yapily’s Data products in various European regions which will be embedded into Adyen’s Open Banking product, and offered via a standalone solution.
Stefano Vaccino, CEO and founder of Yapily said: “Adyen is one of the leading financial technology companies in the world, and their decision to integrate our platform is a testament to the quality and extensive coverage of our API. We’re excited to be helping Adyen deliver solutions that reduce financial friction and improve the customer experience for businesses. Merchant onboarding and account verification are just the tip of the iceberg, and as this relationship grows, we look forward to enabling Adyen to develop more impactful and innovative solutions built on our open banking infrastructure.”
Blanca Ferrero, Global Head Open Banking & Settlement at Adyen said: “Open Banking serves as a strategic enhancement to our core value proposition, empowering us to develop scalable and innovative use cases across shoppers, businesses, payments, and data. To meet the diverse needs of our merchant base, establishing a global reach for Open Banking services is of paramount importance. Yapily represents a valuable addition to our Open Banking portfolio, distinguished by their flexibility and expertise in business account connectivity. Together, we are optimally positioned to drive substantial progress within the Open Banking ecosystem.”
Swan raises €42m to accelerate embedded banking adoption across Europe
Swan, a company specialising in embedded banking, has raised €42m in a Series B funding round.
The funding will support Swan’s mission to make embedded banking the standard across Europe. The company believes the industry is undergoing a major transformation, where financial services are becoming a key part of everyday business tools rather than standalone applications.
Swan offers a banking platform designed to simplify the process of embedding financial services. By developing its own core banking infrastructure, the company ensures full control over its technology, allowing it to deliver advanced, localised solutions for businesses across Europe. It also takes on regulatory responsibilities, including compliance, KYC, and fraud prevention, so its partners can focus on growing their businesses.
The new investment will be used to expand Swan’s market presence, with planned launches in Belgium and the UK. The company is also working on tailored solutions for SMEs, including custom card programs for benefits, meal vouchers, travel, and expense management. Additionally, the funds will help Swan grow its team, with plans to hire over 80 new employees across Europe.
Since its initial Series B announcement in September 2023, Swan has expanded into the Netherlands and Italy, providing local IBANs and payment solutions tailored to these markets. The company has also seen significant growth, with monthly revenue and transaction volumes increasing by 250%, and card issuance rising by 370%.
Swan founder and CEO Nicolas Benady said, “In the future, I believe business management software will become a key distributor of banking services. Whether it’s for HR or Accounting, these tools will offer banking features seamlessly integrated into the user’s workflow. This means you’ll have access to banking services right when you need them, directly in the tool you’re using. We call this embedded banking. At Swan, we’re working hard to provide both the technology and compliance framework to make this a reality for SMEs across Europe.”
InsurTech firm The Helper Bees lands $35m to enhance at-home care solutions
The Helper Bees, an InsurTech company focused on enabling older adults to live independently at home, has secured $35m in Series C funding.
The investment round was led by Centana Growth Partners, with participation from existing investors including Silverton Partners, Impact Engine, Northwestern Mutual Future Ventures, and Alumni Ventures.
The company provides a platform that connects older adults with a wide range of non-medical products and services to support independent living. Its credentialed network allows payers to seamlessly offer home-based services such as caregiving, meal delivery, housekeeping, pest control, and transportation. By leveraging technology, The Helper Bees aims to improve access to essential services that enhance quality of life for aging populations.
The Helper Bees CEO Char Hu said, “This funding round represents a pivotal milestone for The Helper Bees and the aging-in-place movement.
“Every day, we hear stories from families who can sleep a little easier knowing their loved ones have access to the care, services, and independence they deserve. This partnership with Centana enables us to broaden our reach and continue empowering older adults to live independently and safely at home.”
Centana Growth Partners partner Eric Byunn highlighted the importance of the platform’s adaptability, stating, “The Helper Bees’ tech-forward platform is streamlining the delivery of independent aging solutions at a time when they are in increasing demand, and the company’s continued expansion into new areas such as payments, exemplified by the launch of their flexible spending card, showcases their adaptability and commitment to addressing evolving market demands.
“We look forward to partnering with a team whose mission aligns with our commitment to scaling innovative technologies that solve real and complex challenges.”
SoftBank to invest $500M in robotics startup SkildAI
SoftBank is negotiating a $500 million investment in Skild AI, a software company building a foundational model for robotics at a $4 billion valuation, Bloomberg and Financial Times reported.
The two-year-old company raised its previous funding round of $300 million at a $1.5 billion valuation last July from investors including Jeff Bezos, Lightspeed Venture Partners, and Coatue Management.
The company’s AI model can be applied to various types of robots, Skild founders Deepak Pathak and Abhinav Gupta told TechCrunch last July. They said the generalized model can be modified for a specific domain and use case.
The intersection of robotics and AI has witnessed substantial investor interest.
Over the recent year, investors, particularly Bezos, have increased their funding to AI-powered robotics companies.
Physical Intelligence, a startup that raised $400 million at a $2 billion pre-money valuation in November, is another startup claiming to be developing “brains” for a broad range of robots. Jeff Bezos, Lux Capital, and Thrive Capital led that round.
Last February, Figure AI, a startup building an AI-powered humanoid robot, raised $675 million at a $2.6 billion valuation from Microsoft, OpenAI Startup Fund, Nvidia, Amazon Industrial Innovation Fund, and Jeff Bezos (through Bezos Expeditions).
Qantev and InsureMO announce partnership to revolutionise global insurance services
Qantev, a leading AI claims platform, has partnered with InsureMO to enhance the efficiency of global insurance services.
The collaboration integrates Qantev’s AI-driven solutions with InsureMO’s platform to optimise data transfer and streamline operations across the insurance ecosystem.
This move is aimed at optimising the insurance process by enhancing the seamless transfer of data and documents between insurers, agents, brokers, care providers, and other stakeholders in the ecosystem.
By leveraging AI-powered solutions in combination with a robust insurance platform, this collaboration aims to bring greater efficiency and effectiveness to the insurance industry globally.
Tarik Dadi, CEO of Qantev lauded the move, stating, “The synergy between Qantev and InsureMO is a new era for the insurance industry. By combining our Claims AI expertise with InsureMO’s insurance platform, we are setting a new standard for what is possible when it comes to transforming insurance operations and customer service. This partnership is a step forward in our mission to enhance the performance of health and life insurers around the globe using cutting edge AI.”
Qantev is known for its state-of-the-art AI solutions that combine deep medical expertise with cutting-edge data science.
The company has been instrumental in transforming health and life insurance by improving claims management processes, from data acquisition to adjudication.
Its solutions also help insurers identify fraud, waste, and abuse, which aids in reducing losses while improving customer satisfaction.
As part of the partnership, Qantev’s AI solutions will integrate with InsureMO’s platform, enabling rapid connectivity between various stakeholders in the insurance value chain.
This collaboration will leverage InsureMO’s infrastructure to provide insurers with valuable data insights and operational efficiencies, while Qantev’s AI technology will optimise claims processes and help insurers better manage customer interactions.
Woody MO, CEO from InsureMO, added, “This partnership with Qantev aligns perfectly with our vision of simplifying insurance for everyone involved. Qantev’s innovative AI solutions, integrated with our InsureMO platform, will accelerate the digital transformation of the insurance industry, making insurance more accessible, efficient, and transparent for our global clientele.”