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WiseAlpha launches UK’s first high-yield corporate bond ISA for retail investors
WiseAlpha has introduced the UK’s first-ever dedicated High-Yield Corporate Bond Innovative Finance ISA (IF ISA), providing retail investors with unprecedented access to corporate bonds.
This move allows individuals to invest in high-yield corporate bonds within a tax-efficient ISA framework, a market previously exclusive to institutional investors.
The corporate bond market has historically been inaccessible to retail investors due to minimum trade sizes of £100,000. WiseAlpha’s launch removes this barrier, enabling investors to build diversified corporate bond portfolios without the hefty entry cost. This innovation marks a significant milestone in the UK investment landscape.
Sterling corporate bonds offer coupons ranging from 5% to 12%, presenting an attractive alternative to traditional savings accounts and government bonds. WiseAlpha’s High-Yield Corporate Bond ISA allows retail investors to enjoy these returns tax-free, exempting them from capital gains and income tax.
WiseAlpha CEO Rezaah Ahmad said, “This is a watershed moment for the UK investment market. For the first time, investors can access an entire asset class that was previously reserved for institutions. Our High-Yield Corporate Bond ISA represents a leap forward in our mission to democratize finance.”
The new product offers an alternative for equity investors concerned about market valuations. For instance, those holding Ocado equities can diversify by investing in Ocado’s 10.5% bonds via the WiseAlpha ISA. Similarly, investors in peer-to-peer SME lending platforms can shift to corporate bonds issued by larger FTSE-sized companies, offering higher credit quality and competitive yields.
UK investors can allocate up to £20,000 for the 2024/25 tax year across Cash ISAs, Stocks & Shares ISAs, and Innovative Finance ISAs. WiseAlpha also facilitates ISA transfers, providing flexibility for existing holders. Investments within an ISA enjoy full tax exemption, allowing for maximum returns. A 10.5% bond yield within an ISA remains untouched by taxes, compared to a potential 45% tax rate outside the ISA for higher earners.
Rezaah Ahmad added, “With the launch of our High-Yield Corporate Bond ISA, we’re empowering everyday investors to achieve higher tax-free income. This new product aligns with our vision of opening up the financial world to smaller investors and giving them the tools they need to succeed.”
Netradyne Raises $90 Million in Series D Funding Led by Point72 Private Investments
Netradyne, an industry-leading SaaS provider of artificial intelligence (AI) and edge computing, announced the close of a $90 million Series D round led by Point72 Private Investments with participation from Qualcomm Ventures and Pavilion Capital. The capital infusion will accelerate the company’s growth trajectory through strategic investment in R&D, enhanced go-to-market investments, and aggressive global expansion, solidifying Netradyne as a global industry leader in commercial fleet technology.
The traditional approach to driver performance and fleet safety is obsolete. Netradyne is pioneering a new era of driver-focused technology backed by over 18 billion vision-analyzed driving miles. Netradyne’s Driver•i is the only solution that can positively recognize good driving behavior. By reinforcing good driving behavior with revolutionary technology, fleets experience reduced accidents, improved driver retention, lower insurance costs, improved tracking and productivity, and better fleet performance.
“The successful completion of our Series D funding round is a significant milestone for Netradyne and a testament to the confidence our investors have in our vision and innovative approach to AI-powered fleet safety solutions,” said Avneesh Agrawal, CEO and Co-Founder at Netradyne. “This funding provides us with the resources to accelerate growth, expand our technology capabilities, and deliver even greater value to our customers worldwide. With this support, we are poised to scale our innovations globally, deepen our impact, and continue advancing safety and efficiency across the transportation industry, redefining what’s possible for fleets and communities alike.”
“Investing in Netradyne is about believing in safer roads and supporting professional drivers,” said Sri Chandrasekar, Managing Partner at Point72 Private Investments. “Since our initial investment in 2018, we’ve witnessed Netradyne’s impressive growth and believe their technology is well-positioned not only to empower fleet managers but also to foster a culture of safe driving. We are excited to continue our partnership with Avneesh and the Netradyne team as they advance their mission to transform the global transportation industry.”
Netradyne’s solutions offer a comprehensive and accurate driver performance assessment by analyzing 100% of drive-time data. Powered by advanced AI, Driver•i delivers unparalleled accuracy in identifying both positive and negative driving behaviors, fostering trust and enabling effective in-cab coaching. In addition to promoting safer driving, these capabilities help fleets shield drivers from false claims, minimize collisions and insurance costs, optimize productivity, and simplify compliance management.
This funding comes on the heels of exciting growth. Since its founding in 2015, Netradyne now reaches over 3,000 customers and over 450,000 active subscribers, serving customers across the United States, Canada, Mexico, Germany, the U.K., Australia, New Zealand, and India, with planned expansion throughout Europe and Japan. Netradyne’s customers include some of the biggest names in global online retail, food and beverage, oil and gas, transportation, utilities, field services, passenger transit, and construction.
Archive Intel raises $1.5m to expand AI-driven compliance solutions
Archive Intel, a leader in AI-powered compliance archiving solutions, has secured an additional $1.5m in funding to accelerate its growth.
The funding round was led by Garuda Ventures, a San Francisco-based investment firm focused on early-stage companies, with participation from existing investor Social Leverage.
Archive Intel offers a cutting-edge compliance platform designed to help financial advisors and institutions meet regulatory requirements effortlessly. The platform uses AI to simplify workflows, reduce false positives, and support a wide array of communication channels, including email, chat platforms, social media, and messaging apps.
The company plans to use the funding to expand integrations, scale its infrastructure, and drive further innovation across its platform.
Archive Intel has experienced rapid growth, surpassing 220 clients and 2,000 users within just six months of launching in 2024.
Rishi Taparia, co-founder and general partner at Garuda Ventures, said, “Archive Intel’s innovative platform and leadership team are well-positioned to shape the future of communication compliance. We are excited to partner with Archive Intel as they redefine how financial institutions meet regulatory requirements.”
Howard Lindzon, founder and managing partner of Social Leverage, added, “Archive Intel has proven its ability to address critical industry pain points with scalable, cutting-edge solutions. We’re proud to continue supporting their growth.”
Archive Intel CEO Larry Shumbres expressed his enthusiasm for the funding, stating, “Our mission has always been to make compliance seamless, efficient, and future-ready. This additional funding validates our approach and enables us to continue delivering innovative solutions that empower our clients to stay ahead of regulatory challenges.”
Brex secures $235m credit facility to fuel growth of corporate card solutions
Brex, a leading corporate card and spend management platform, has closed a $235m revolving credit facility to bolster its product growth and scale its card solutions.
The two-year credit facility was led by Citi as the senior lender, with TPG Angelo Gordon participating as a supporting lender.
This latest funding initiative is expected to further accelerate Brex’s growth trajectory. The company plans to utilise the credit facility alongside its existing warehouse facilities and master securitisation trust. To date, Brex has completed three securitisation issuances.
Commenting on the announcement, Ben Gammell, chief financial officer at Brex, said, “This transaction highlights the continued momentum of Brex’s card offering and our entire product suite.
“Our capital position remains exceptionally strong, and this credit facility, which follows our largest and most robust securitization to date, allows us to further scale our card solution and empower our customers in making every dollar count.”
Aaron Ong, head of private asset-based credit at TPG Angelo Gordon, expressed enthusiasm for the partnership, adding, “We are thrilled to provide capital support to Brex in its pursuit to offer modern spend management solutions for businesses of all sizes. xThis partnership demonstrates how TPG Angelo Gordon customizes capital solutions to meet the needs of our borrowers, and we are pleased to be part of Brex’s incredible story.”
Founded in 2017, Brex has established itself as a comprehensive financial platform that integrates corporate cards, expense management, banking, bill pay, and travel solutions.
The platform is used by over 30,000 companies, including major names such as DoorDash, Flexport, and Compass. Handling tens of billions of dollars in transactions annually across 120 countries, Brex continues to innovate to help businesses optimise their financial operations.
Spring Financial launches Bloom: Canada’s first AI-driven financial concierge app
This marks a significant milestone as Bloom becomes the first app in Canada to integrate artificial intelligence to provide users with a holistic view of their financial landscape. Designed for everyday Canadians, the app simplifies banking, spending, and budgeting by offering real-time financial insights at users’ fingertips.
Bloom’s core feature is Oscar AI, an intelligent financial assistant capable of answering a range of user-specific queries. For example, users can inquire about their spending on Uber last month or track subscription expenses across platforms. This personalised approach enables users to make informed financial decisions.
Tyler Thielmann, president and CEO of Spring Financial, said, “The last few years have been a challenging financial environment for so many Canadians. Finances are becoming more complicated and there has been very little innovation helping Canadians see their full financial picture in one place. That is why we developed Bloom.
“Bloom uses industry-leading technology to offer users customized financial insights across all of their accounts, right at their fingertips. And with OscarAI, users can have their financial questions answered in seconds.”
The app integrates with all major financial institutions, consolidating various accounts, including bank accounts, credit cards, and savings, into a single, user-friendly hub. Its real-time insights empower users to set specific spending limits, track subscriptions, and categorise transactions automatically, providing a clear picture of their financial habits.
Bloom is particularly advantageous for Canadian renters, offering rent reporting to credit bureaus. This feature helps users build credit histories and unlock better financial opportunities.
Other standout features of Bloom include advanced budgeting tools, subscription and recurring payment tracking, and smart suggestions for financial planning. Available for free download on the App Store and Google Play, the app also offers a premium subscription at $11.99/month for enhanced features.
SC Ventures targets APAC small businesses with new fintech platform
SC Ventures, Standard Chartered’s innovation arm, has today launched a digital platform to assist small and medium-sized enterprises (SMEs) across the Asia Pacific region.
The new venture, called Labamu, offers digital invoicing and billing services alongside integrated banking features. It launches first in Indonesia, but expansion is planned across APAC, tapping into the region’s $2.5 trillion SME market.
The platform aims to help SMEs boost sales through both physical and digital marketplaces. Users can receive payments directly into their bank accounts through embedded banking services, with working capital financing planned for future rollout.
Digital billing, inventory management, and customer relationship tools are also designed to enhance operational efficiency.
“Every small business contributes to shared economic prosperity and we want to empower them,” said Emmanuel Van De Geer, CEO of Labamu. He emphasised the platform’s integration of financial services as a key differentiator in the market.
Southeast Asia’s SME sector accounts for 90% of companies and 80% of employment across six major markets in the region.
Labamu has placed particular focus on female entrepreneurship through its “Wanita Tumbuh Bersama” campaign, which has provided business management training to more than 7,500 SME owners.
In its incubation phase, Labamu attracted over 80,000 SME owners.
Lower integrates Neat Labs technology to set new standards in mortgage efficiency
Lower, a leading digital mortgage lender, has announced its acquisition of Neat Labs, renowned for its end-to-end mortgage origination software.
Lower will integrate Neat Labs’ proprietary software into LowerOS, a comprehensive, cloud-based mortgage platform designed to enhance the borrower experience and streamline loan production costs.
Founded in 2015, Neat Labs has been pivotal in optimising the mortgage process from pricing to loan approval and closing. Neat Labs has notably facilitated over $1bn in loans, enabling borrowers to progress from application to funding in as little as 10 days.
The rollout of LowerOS signifies a pivotal advancement in mortgage technology, offering unprecedented collaboration between borrowers and loan officers. The platform equips borrowers with self-service access to Neat Labs’ sophisticated underwriting engine, allowing them to choose optimal loan products and payment plans. Furthermore, LowerOS automates many labor-intensive tasks within the mortgage process, thereby reducing the time and cost for borrowers to secure loans, while empowering Lower’s extensive network of loan officers to devote more attention to client guidance.
“We’re thrilled to bring Neat Labs into the Lower family. Their technology is the foundation of our next chapter,” Lower CEO and Co-Founder Dan Snyder commented. “Since our inception, we’ve merged state-of-the-art technology with superior customer service. With LowerOS, we are once again revolutionising the mortgage industry, delivering unparalleled operational efficiency and a seamless experience for both borrowers and loan officers.”
Steve Herschleb, Co-Founder and Chief Technology Officer (CTO) of Neat Labs, will transition to Lower as the new CTO. With a robust background in scalable mortgage technology and a former role as Chief Product Officer at Maxwell, Herschleb will be instrumental in the ongoing development of LowerOS.
“LowerOS will change the way consumers think about getting a mortgage whether they are buying a new home, refinancing to reduce their monthly payments or tapping into home equity for major expenses,” Herschleb elaborated. “With LowerOS, borrowers can get approved significantly faster than they can today. It’ll make getting a mortgage feel more like obtaining a car loan or a credit card.”
With the acquisition and the launch of LowerOS, Lower continues to redefine the mortgage experience, blending cutting-edge technology with a commitment to delivering exceptional value and efficiency.
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.”
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.”