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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The traditional approach to driver performance and fleet safety is obsolete.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.
Bilt Rewards clinches $150m in fresh funding to enhance loyalty programs
The round was spearheaded by Teachers’ Venture Growth (TVG), a division of the Ontario Teachers’ Pension Plan specializing in late-stage and growth investments. Alongside TVG, significant contributions came from Vanderbilt University Endowment and the University of Illinois Foundation, with continued support from previous investors.
Bilt Rewards operates as a pioneering loyalty platform that significantly impacts both the residential and local business sectors. By integrating loyalty systems with rental payments, Bilt has facilitated an environment where every rent payment enhances tenant credit scores while simultaneously accruing redeemable points that can be spent within the local community.
The fresh capital will be used to expand Bilt’s influential resident loyalty program and grow its neighborhood loyalty initiatives. These programs are essential for connecting property owners with local businesses, creating a vibrant community ecosystem. Bilt aims to extend these services to include single-family homes and is planning to incorporate mortgage payments into its platform by year-end.
Additional information reveals Bilt’s impressive trajectory of growth. Since their last funding round in January, which raised $200m and put the company’s valuation at $3.1bn, Bilt’s annual platform spend has surged to over $30bn. This represents a 50% increase, driven by the expansion of its loyalty programs to more apartment buildings and into the condominium and homeowner association (HOA) markets. Furthermore, the neighborhood program has expanded to include over 21,000 restaurants and 3,500 fitness studios.
Rick Prostko , Senior Managing Director at Teachers’ Venture Growth, expressed his enthusiasm about the ongoing partnership: “Bilt Rewards has created a unique loyalty program to empower renters. We’ve seen the positive reaction from both customers and all those involved as part of their ecosystem. We are excited about the opportunity to work with Ankur and the full management team and find ways to support them as a value-add partner.”
Ankur Jain, CEO of Bilt Rewards, commented on the future prospects: “This funding accelerates our vision of rewarding Americans for how they live and spend in their communities. We’re rapidly growing our neighborhood loyalty program, expanding into essential categories like healthcare, gas, and groceries. With members in all 50 states, we’re building a comprehensive platform that benefits residents, property owners, and local businesses across the country.”
IntelePeer bags $140m to advance AI automation in customer service
This strategic investment was co-led by Savant Growth LLC and VantagePoint Capital Partners, with additional backing from Savant’s limited partners, including Coller Capital, Hollyport Capital, Manulife Investment Management, and Achmea.
The debt financing was led by Vector Capital through its new direct credit strategy, Vector Velocity. Stifel, Nicolaus & Company, Inc. acted as financial advisor to IntelePeer.
IntelePeer specialises in providing AI-driven solutions for automating communications across various channels.
Fortune 500 and large mid-market firms across insurance, healthcare, retail, financial services, logistics, and transportation verticals are leveraging IntelePeer’s domain-specific AI Agents to enhance their customer service initiatives and experiences.
The newly secured funding will support IntelePeer’s mission to continue reinventing the contact centre and advancing their AI Agent portfolio. The investment will also boost their product development, sales, and marketing efforts, ensuring they remain at the forefront of AI-driven customer service automation.
Since 2020, IntelePeer has been implementing communications AI and automation, with significant acceleration following the adoption of Gen AI.
Their solutions include an omnichannel communications workflow engine and call centre integrations, delivering high levels of self-serve automation for their clients.
IntelePeer CEO Frank Fawzi commented, “IntelePeer grew its AI business by more than 100% year-over-year and is forecasting further acceleration, as a result of our commitment to reinventing the contact centre through customer self-service automation. This funding is further validation of this long-term goal. Our unique sales process harnesses Gen AI to extract why consumers contact a business. The collected data is used to develop an intent map that identifies what AI use cases will deliver the highest ROI with the best possible customer experience and can be used to create reports ready for executive and board presentations. This funding will enable us to continue growing our AI Agent portfolio, significantly increasing our investment in our product and development teams as well as our sales and marketing initiatives.
“The advent of Gen AI has opened the floodgates for businesses to realise massive operational efficiencies while vastly improving customer experience. The measures we have taken, including our partnership with Microsoft Azure OpenAI, ensure the guardrails are in place for responsible AI implementation, a key consideration for all clients looking to implement AI. It’s exciting to have this new backing from investors, and we’ll continue to move forward in developing top-tier AI Agents that provide our customers with best-in-class security and compliance.”
Javier Rojas, Founding Partner, Savant Growth, added, “IntelePeer has been implementing communications AI and automation since 2020 but saw an acceleration after adopting Gen AI which radically increases ROI for customers. While IntelePeer’s workflow capture and guardrails result in rapid reliable implementations, its market leading product success results from its whole product offering including its omnichannel communications workflow engine, call centre, integrations and voice quality experience which provides the contact centre with full self-serve automation for approximately 65% of calls across its customers.”
Nick Ghoussaini, Head of Credit at Vector Capital, remarked, “We are excited to draw from our deep credit investing experience to provide a flexible financing solution to IntelePeer and support the company’s transition to its next phase of growth. As the use of AI continues to rapidly grow within the contact centre solutions sector, we look forward to leveraging our proven operating support and technology expertise to ensure IntelePeer is best positioned to capitalise on AI expansion opportunities.”
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.”
Highnote clinches $90m in Series B to revolutionise U.S. merchant acquiring
Highnote has recently announced the closure of a $90m Series B coupled with the launch of its new merchant acquiring solution.
The financing was spearheaded by Adams Street Partners and saw contributions from existing backers such as Oak HC/FT, Costanoa, WestCap, and Pinegrove Venture Partners.
The company, known for its innovative financial technology solutions, operates a modern platform that offers both card issuing and acquiring capabilities. This dual-functionality allows Highnote to offer comprehensive pay-in and pay-out features, all managed through a single, unified core general ledger, delivering unparalleled efficiency and cost reductions.
With the introduction of its acquiring solution, Highnote is expanding its capabilities to include accepting card payments online, either through plug-in checkout systems or bespoke solutions tailored to specific needs. This advancement builds on the company’s already robust embedded finance platform, known for its seamless integration with major payment networks, ensuring transparency and improved economics for users.
The new funds will be utilized to expand Highnote’s footprint in the embedded finance market, particularly by enhancing its acquiring services. This move is aimed at accelerating growth and expanding its market presence in the United States, offering a holistic approach to embedded payments that cater to both small businesses and large enterprises.
Additional insights into the strategic development were highlighted by John MacIlwaine, CEO of Highnote, who emphasized the transformative potential of integrating acquiring services on their platform. He noted that this expansion into acquiring is a strategic move to enhance their already comprehensive embedded finance and issuing platform.
“Highnote’s transformational platform and impressive growth trajectory motivated us to lead this funding round,” Robin Murray, Partner at Adams Street Partners said. “We are excited to support the company’s vision to lead innovation in embedded finance.”
Spikerz raises $7m to enhance AI-powered social media security solutions
Spikerz, a cybersecurity company focused on protecting businesses and individuals from social media threats, has raised $7m in funding.
The investment round was led by Disruptive AI, with contributions from Horizon Capital, Wix Ventures, Storytime Capital, and BDMI, according to a report from New York Tech.
The company provides an AI-driven security platform designed to tackle the growing threats associated with social media usage. Spikerz’s technology offers protection against phishing attacks, impersonation attempts, bot infiltration, and shadowbanning, helping users safeguard their accounts and maintain their digital presence.
With the newly secured funds, Spikerz plans to advance its technological capabilities and expand its market presence in the rapidly evolving social media security sector. The investment will support further product development and strategic partnerships to address the increasing demand for robust cybersecurity solutions.
Eitan Israeli, head of Wix Ventures, said, “We’re excited about the innovative solution this team has developed to address a pressing need in the market. The solution is positioned to benefit both large enterprises like Wix and the SMBs that make up a significant portion of our users. Backed by a very talented and driven team, we’re confident this investment will drive meaningful value across the industry.”
VeriPark Partners with Leading Canadian Financial Institutions Coalition to Redefine Digital Banking
VeriPark, a global leader in omnichannel customer experience solutions for financial services, has partnered with a coalition of leading Canadian credit unions and financial institutions, including First West Credit Union, Prospera Credit Union, DUCA Credit Union, and Coastal Community Credit Union, Together, the coalition aims to drive innovation, enhance member experiences, and empower institutions in an evolving financial landscape.
This collaboration will deliver a Canadian-focused digital banking product tailored to the distinct needs of Canadians. Combining global and Canadian codebases, the solution allows institutions to maintain their identities while developing additional features to differentiate themselves.
“The partnership with VeriPark represents a uniquely Canadian solution that combines local expertise with global best practices,” said Darrell Jaggers, CIO & CTO, First West Credit Union. “Our goal is to build on our successes and provide members with even more innovative, personalized digital banking services that align with their evolving lifestyles.”
The coalition selected VeriPark for its Canadian-centric product development, enhanced security and compliance, support for open banking frameworks and commitment to ongoing managed services. Powered by Microsoft Azure, the solution ensures adaptability, efficiency and long-term support.
The solution integrates with Central 1’s payment and fraud management systems while supporting compatibility with other payment platforms, providing flexibility for institutions.
Coalition members gain:
A Canadian-focused solution enhanced by global best practices.
The ability to compete with larger banks while maintaining independence.
A solution validated by a year-long assessment, ensuring innovation and long-term support through Microsoft’s technology stack.
Institutions can contact Darrell Jaggers or coalition CIOs for details on joining the coalition.
“The financial services sector is constantly evolving, and this partnership offers a unique opportunity to shape the future of digital banking in Canada,” said Barry Frame, Chief Sales Officer, VeriPark. “By combining VeriPark’s expertise with the coalition’s forward-thinking vision, we are confident in delivering a transformative banking experience for Canadians.”
Selim Hasan, Sales Director, VeriPark, added, “This partnership also underscores our growth strategy for North America, as we continue to expand our footprint and deliver innovative solutions tailored to the needs of financial institutions in this region.”
Validis secures investment from Citi and Barclays to transform business lending
Validis, a leader in financial data collection and standardisation, has received strategic investments from Citi and Barclays.
The funding aims to enhance Validis’ platform, which focuses on automating and standardising data processes across business lending, including corporate, commercial, and working capital finance.
Validis provides technology that automates financial monitoring and delivers underwriting-ready data quickly. This process significantly reduces the time required for credit applications and reviews, enabling lenders to make faster and more informed decisions. The platform also supports risk management by ensuring data reliability and consistency.
With the new funding, Validis plans to accelerate its growth through product innovation and expanded sales and marketing efforts.
In addition to its lending applications, Validis’ technology has been transformative in the audit sector, where it works with over 100 lending and accounting firms to deliver granular, transaction-level data. This audit-grade information provides unprecedented insights, enabling robust financial decisions.
Michael Turner, CEO of Validis, added, “We’re eliminating historically time-consuming and high-cost data processes, particularly for complex commercial clients, enabling lenders to make faster, smarter decisions based on clean, reliable data.”
James Binns, managing director and global head of trade and working capital at Barclays, emphasised the impact on customer service, saying, “By automating data collection and standardization, we can not only deliver faster decisions and better service, but also offer client focused working capital funding products at scale. This enables us to meet our customers’ unique needs while still meeting our credit assessment standards.”