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Exploit intelligence firm VulnCheck announces $7.95m seed investment
This recent financial infusion includes $4.75m in new capital primarily contributed by Sorenson Capital, a noteworthy participant in this funding round.
The company, which specialises in providing next-generation exploit intelligence solutions, has raised $7.95m to further its mission. The investment was led by Sorenson Capital, marking a significant milestone in VulnCheck’s financial journey.
VulnCheck offers sophisticated services that streamline vulnerability prioritisation by integrating exploit and threat intelligence. This approach allows enterprises, government agencies, and cybersecurity entities to focus on critical threats with enhanced efficiency and accuracy. The firm’s unique selling proposition lies in its ability to deliver actionable, machine-readable data at the moment of disclosure, significantly reducing the need for human intervention and accelerating response times.
The freshly acquired funds are earmarked for accelerating VulnCheck’s growth and enhancing its product development capabilities. The aim is to expand the company’s impact on enterprise platforms and workflows, and meet the burgeoning demand for robust exploit intelligence across government entities and organisations tasked with safeguarding critical infrastructure.
Additional insights into the company’s trajectory include its recent accolade as a finalist in the RSA Conference 2024 Innovation Sandbox contest, which underscores its innovative approach and industry recognition.
VulnCheck CEO Anthony Bettini remarked, “Since launching, we’ve seen demand for VulnCheck’s intelligence services skyrocket. Advanced vulnerability management, threat intelligence, and application security features are on the horizon, and VulnCheck is committed to continuing to help organisations prioritise threats in today’s rapidly evolving landscape. This funding is a testament to our momentum, and we are excited to further invest in developing our enterprise and critical infrastructure solutions.”
Previously, VulnCheck has been proactive in securing financial backing to fuel its strategic initiatives, with this round serving as a continuation of its efforts to lead and innovate within the cybersecurity space.
Victory Park Capital strengthens alliance with Zip
Victory Park Capital Advisors, an established credit manager and global alternative investment firm, has closed a refinancing agreement for a $225m debt facility with Zip, a renowned player in the digital retail finance and payments industries.
This strategic financial collaboration is set to bolster Zip’s US receivables, marking a crucial step in the expansion of its operations within the American market.
Founded in Australia in 2013, Zip has emerged as a global FinTech powerhouse, offering innovative, customer-focused products and services that bridge the gap between consumers and merchants. The company operates chiefly in Australia, New Zealand, and the Americas, providing versatile point-of-sale payment solutions and connecting millions of customers with a vast network of merchants. This new injection of funds is expected to fuel Zip’s strategic initiatives, enhancing its comprehensive suite of consumer financing solutions and driving the growth of its business platform.
The partnership between Victory Park Capital and Zip is not new; it dates back to 2015, signifying a long-standing, fruitful relationship. The journey began with a A$108m asset-backed warehouse facility, which subsequently expanded to A$200m. In 2020, another milestone was achieved when the two firms closed a A$100m debt facility, aimed at funding receivables and fortifying the Zip Business platform.
Zip’s Co-founder and U.S. CEO, Larry Diamond, expressed his enthusiasm about the renewed collaboration with VPC, emphasising the transaction’s significance in reinforcing Zip’s presence in the U.S. market.
He said, “We are thrilled to announce our renewed collaboration with VPC, a cornerstone investor in Zip since our early days. This pivotal transaction marks a significant step in bolstering Zip’s expansion within the U.S. market. As we refine and broaden our portfolio of consumer financing solutions, the three-year deal provides us with both the strategic timing and the flexibility needed to spearhead innovation in both our new and existing product lines. This partnership not only underscores our shared vision for market leadership but also cements our commitment to delivering unparalleled financial products to our American customers.”
Viva.com unveils two new features to simplify payments in Europe
European neobank Viva.com has launched two new features designed to simplify business across the continent.
The first new feature, real-time payments gives the Viva.com merchant community near-instant access to their funds. Transactions are now settled in up to 60 minutes, compared to the previous next-day settlement system.
The second new feature, Offline Payments, was developed to ensure that Viva.com merchants can minimize the risk of losing sales due to network connection problems or interruptions. Offline payments allow card transactions to be automatically accepted, even when the merchant is offline at the point of sale.
“The last thing a business wants is to be waiting for funds to come through on a sale that’s already been completed, or worse yet, missing out on a sale due to network connectivity issues. With Real-Time Settlement and Offline Payments, those issues are a thing of the past. Near-instant payments, 0% transaction fee options and the possibility to complete sales under even the most challenging connectivity conditions are in-house-created features specifically designed to support our merchants, no matter their size or location.”
Kostas Xiradakis, VP Product and Growth at Viva.com.
Viva.com payment solutions are designed to help businesses of all sizes with innovative tools to streamline operations and increase revenue. The viva.com Terminal app turns smart devices into card terminals, while the viva.com Smart Checkout payment gateway increases conversion rates by up to 21%; both offer more than 30 payment methods.
These new features will initially be enabled for companies with viva.com accounts, thereby optimizing cash flow and managing costs. Real-time payments and offline payments are the latest additions to Viva.com’s suite of commerce products, including Business Debit Cards to manage, automate and monitor business expenses, At the same time, reduce costs by 0% transaction fees.
Credit Unions Benefit from Advanced Functionality and Expanded Capabilities with Fiserv Core Platform Enhancements
Fiserv, Inc., the world’s leading provider of financial services and payments technology solutions, continues to enhance its core banking platform to deliver greater agility, fundamental resilience better infrastructure and greater scalability, enabling innovation and growth for credit union customers.
One of many Fiserv cloud platforms, Fiserv Portico® enables credit unions to operate more efficiently while meeting the needs of today’s members. More than 500 credit unions currently use the platform.
After recent updates, Portico now operates in a cloud environment in Microsoft Azure. Continuous technology upgrades and third-party integrations enable credit unions to deliver superior digital and direct financial services from anywhere, anytime.
“We are focused on powering credit unions with technology that allows them to operate more efficiently and respond quickly to their members’ changing needs,”
“With the migration of Portico to the cloud, clients will enjoy greater flexibility, with the ability to enhance the experience of both staff and members, and will be able to access additional capabilities via both Fiserv and third party integrations.”
Doug Donofrio, senior vice president and Head of Credit Union Solutions at Fiserv.
The cloud-based deployment model helps financial institutions deliver maximum uptime, helping to deliver consistently great customer experiences to credit unions and their members. Benefits include enhanced monitoring tools, architectural improvements for greater speed and efficiency, tightly monitored controls, and compartmentalized disaster recovery environments, Reduces complexity and potential points of failure.
New Integrations Equip Credit Unions for Innovation
Recent third-party integrations into Portico include MessagePay, a solution that allows credit union members to make self-service ACH and debit card payments for their outstanding debts, and Eltropy, a digital conversation platform that optimizes two-way messaging between members and families. credit unions, with documents generated directly from the Portico platform.
Honolulu Fire Department Federal Credit Union took advantage of MessagePay and Eltropy’s integration with Portico, creating a real-time solution for members to make loan payments and see results immediately in their digital banking applications.
“We pride ourselves on offering unique solutions to our fire department and firefighter membership, equipping them to manage their finances in the ways that are most convenient for them, at any time of the day or night,”
“With Portico at the heart of our credit union, we have the flexibility to quickly respond to our members’ changing needs.”
Guy Usui, CEO, Honolulu Fire Department Federal Credit Union.
Based on a service-oriented architecture, Portico is a trading account processing solution that supports a sophisticated, real-time service desk with a zero-trace infrastructure that delivers unprecedented reliability. Portico supports credit union growth by providing intuitive user experiences, streamlined workflows, and rapid training.
In a world that is changing faster than ever, Fiserv helps its customers deliver solutions for the way people live and work today – lifestyle-driven financial services.
Stax Payments Acquires APPS, Expands Technology Stack to Offer Bespoke End-to-End Payment Processing Experience
Stax Payments, a leading payment technology provider, today announced the acquisition of Atlantic-Pacific Processing Systems (APPS), creating a seamless end-to-end payment processing platform . The APPS integration marks a significant expansion in Stax’s technology stack, providing partners and merchants with flexible and customizable options for their payment processing needs on one cohesive platform. final, unique.
“Our partners and customers want a simple, secure, multi-channel payment experience, not only for themselves but for their end consumers,”
“Through the acquisition of APPS, we have heightened our innovation capabilities and technology position, allowing us to create a bespoke payment experience for any merchant, ISV, ISO, or payment facilitator. I’m excited to lead a new era of growth for our employees, partners, and customers.”
Paulette Rowe, CEO of Stax.
The APPS platform, which will be called Stax Processing, will over time serve as the foundational processing layer supporting fintech services for ISVs, ISOs and SMBs. The new comprehensive, seamless ecosystem will include enhanced omnichannel offerings, enhanced data reporting and additional personalization capabilities. This significant expansion of Stax functionality will begin in the fourth quarter of 2023, with full integration and additional developments planned throughout 2024.
With this acquisition, members of the APPS leadership team will join Stax to usher in a new era of all-in-one payments processing. , with APPS CEO Abe Maghaguian moving to Stax as head of payments and APPS COO Sarah Gerald promoted to COO processing at Stax. Additionally, Stax welcomes nearly 50 new APPS members to its expanding team.
“As the payment landscape becomes more complex, users are looking for a one-stop shop for all of their payment needs,”
“This acquisition gives our customers access to a highly experienced team who have worked tirelessly to reduce points of friction and maximize the value of payments for our partners. We are thrilled to join Stax and merge our offerings to deliver a powerful payments platform.”
APPS CEO Abe Maghaguian.
Moove raises $76m in new funding to bolster business growth
Moove, a mobile FinTech, has received $76 million in new funding, including $28 million in equity from new and existing investors.
Funding round led by Mubadala Investment Company (Mubadala), $10 million in venture capital debt from funds and accounts managed by BlackRock, and $38 million in undisclosed amounts previously raised in the last few years 12 months ago.
The African-founded company will use the funding to further its mission to build the largest technology-driven financial services platform for mobile entrepreneurs and strengthen its position on the global stage.
“We are excited to be partnering with Mubadala and BlackRock to double down on our already profitable markets, including the UAE, India, UK, and South Africa, as well as continuing to invest in our customer experience and accelerate our product development to deliver group-wide.’’
Ladi Delano, Co-founder and Co-CEO of Moove.
This investment is an endorsement of Moove’s ability to serve its customers and execute across multiple developing and developed markets. The funding signifies the start of a relationship that will also see Faris Sohail Al Mazrui, Head of Ventures & Growth at Mubadala, join the Moove advisory board.
“Moove has built a highly scalable tech-enabled platform to serve mobility entrepreneurs globally by providing them access to credit and other financial services previously unavailable to them. This is a hugely underbanked and underserved market that we believe has significant long-term potential.”
Faris Sohail Al Mazrui, Head of Ventures & Growth, Mubadala.
Moove aims to provide financial services to people who do not have a bank account or are not served by traditional lenders, so that they can receive income-based financing and access ownership. property ownership as well as financial stability.
TerraPay secures in-principle approval for MPI license from Monetary Authority of Singapore
TerraPay, a payments infrastructure company, has been approved by the Monetary Authority of Singapore (MAS) in principle for a Major Payments Institution (MPI) license, becoming a regulated payments company best.
TerraPay’s global customers and businesses can access its vast network through this coveted MAS endorsement, enabling fully compliant, affordable, and transparent cross-border remittances. . It facilitates fully compliant international money transfers, easy business payments, and alternative payment methods.
The payments company will leverage this license to tap into the region’s enormous potential and strengthen its local presence and existing partnerships in Singapore, Korea, Vietnam and the Philippines.
“I am incredibly proud of the comprehensive network of partners, employees, countries, and licenses we have established worldwide, enabling us to offer simplified payment services for everyone. Obtaining the approval in Singapore is a game-changer, solidifying our position as a leading cross-border payments powerhouse in one of the most significant financial markets globally.”
“At TerraPay, our core values revolve around inclusion and innovation. We are inspired by Singapore’s fintech journey, which aligns perfectly with our mission to improve lives and contribute to a dynamic, inclusive economy. The approval from MAS reinforces our commitment to excellence as we aim to become the most regulatory-approved payments company in the world.”
Ambar Sur, Founder and CEO, TerraPay.
In May 2023, TerraPay announced its Series B equity funding round, in which the company raised more than $100 million for global expansion plans, allowing it to strengthen the network. existing payments and expanding infrastructure and global regulatory and compliance capabilities.
The team has built an expansive payments highway that allows businesses to create a seamless customer experience with an uninterrupted, secure, real-time global process for any payment, no matter how large. or small. TerraPay partners with banks, mobile wallets, remittance operators, merchants and financial institutions, creating a larger and more inclusive international financial ecosystem.
Flynas & Tabby bring 4-month installment payments for travel tickets
flynas, the airline of Saudi Arabia and a low-cost airline in the Middle East, has partnered with Tabby, a financial services and shopping app based on MENA, to provide travelers with payment solutions flexible math.
This partnership comes at a favorable time for travelers, especially with the increasing demand for air travel around the world. It also reflects flynas’ desire to provide customers with a flexible and convenient travel experience.
Payment solutions allow flynas customers to pay for their trips in four interest-free installments. In addition, travelers can now secure their tickets with flexible payments, making travel easier and allowing buyers to explore new horizons and create lasting memories with Loved Ones.
“We are delighted to partner with flynas to bring flexible payment solutions to the air travel industry. This timely partnership will bring air travel closer to so many people looking to go on new adventures and reconnect with their loved ones worldwide”.
Hosam Arab, CEO and Co-Founder of Tabby.
flynas confirms that this agreement reflects flynas’ commitment to providing innovative services and enhancing its growth for digital transformation in the aviation industry.
Tabby creates financial freedom the way people buy, earn and save by reshaping their relationship with money. The shopping and financial services app is active in Saudi Arabia, UAE, and Kuwait, and was valued at $660 million in a recent funding round from Sequoia Capital India, STV, PayPal Ventures, Mubadala Investment Capital, Arbor Ventures and Endeavor Catalyst.
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.”
AIsa launches revolutionary payment network for the AI economy
AIsa, a cutting-edge FinTech company specialising in AI-focused payment infrastructure, has announced the launch of its revolutionary payment network tailored to meet the specific needs of the AI economy.
The launch addresses the growing demand for payment systems capable of handling the unique requirements of AI agents, according to FF News.
Traditional payment systems, originally designed for human transactions, fall short in processing the microscopic, high-frequency payments essential for AI operations.
Founded to bridge the gap between AI and payments, AIsa focuses on delivering innovative solutions to enable frictionless transactions within the AI economy.
The company’s expertise lies in integrating advanced blockchain technology with stablecoin-based payment mechanisms to provide secure, efficient, and scalable solutions for global industries.
The new AIsa payment network combines the speed of the Lightning Network with the stability of multi-asset stablecoins.
It is designed to support transactions as small as $0.0001, ensuring instant settlements with minimal fees.
Its key features include millisecond-level settlement speeds, programmable payments through smart contracts, multi-chain compatibility for cross-border functionality, and a stable value system through multi-asset stablecoins.
This groundbreaking network facilitates diverse applications, including payments for digital services like computational power, storage, and API calls. It also supports AI-to-AI task delegation, high-frequency trading strategies, and intelligent DeFi activities, such as cross-DEX arbitrage.
By focusing on real-world utility rather than speculative trading, AIsa distinguishes itself from other blockchain projects.
Its support for multiple stablecoins offers businesses the stability required for everyday operations while leveraging blockchain’s efficiency.
The vision for AIsa is driven by its co-founder Jordan, a recognised leader in payments and co-founder of UXUY, a multi-chain wallet with over 5m users. The team includes seasoned experts from Meta, MasterCard, and Bloomberg, combining years of experience in payments and AI. Backed by over $10m in funding from prominent investors like Binance Labs, AIsa is well-positioned to lead this transformation.
Drawing inspiration from Visa’s “chaordic” organisational model, AIsa has incorporated blockchain technology and token economics to create a decentralised, self-governing network designed to evolve with the AI economy.
PXP Launches the Next-Generation Technology Platform PXP Unity
PXP, a leading omnichannel global payment platform and innovative industry disruptor, is announcing the launch of its industry-redefining technology platform, PXP Unity. Marking a shift in payments, PXP offers a single integration into a commerce ecosystem that makes business simpler, better and more connected. It promises to transform and empower merchants with next generation POS and online services, providing more control over their transaction data, smart routing options, and a catalogue of easily-integrated services that they can deploy as and when they need them through just one integration with PXP.
The announcement comes at a transformative moment for the industry, with a comprehensive PXP survey conducted by leading polling firm Censuswide revealing strong merchant demand for digital transformation and unified commerce solutions. The research findings demonstrate how fundamentally merchants’ needs are evolving:
64% of merchants now view payment technology as a strategic growth driver, rather than just an operational necessity, signaling a major shift in how businesses view their payments infrastructure.
Enterprises in particular recognize the transformative power of payments technology, with 74% of large businesses prioritizing capabilities like real-time business intelligence, intelligent payment routing, and AI-enhanced platform features as vital to their operations.
When evaluating payment platforms, merchants prioritize robust security and fraud prevention (35%), followed by guaranteed reliability during peak periods (28%), and the ability to unify all payment channels and providers in a single platform (21%).
Looking ahead, merchants see payments innovation as key to their future success, with 59% focused on creating unique payment experiences and 56% planning to pioneer new commerce models through smart payment tech.
PXP Unity is a cloud-native, scalable and integrated platform that’s built on AI-powered engineering practices, representing the next generation of unified global technology platforms. One of the most advanced platforms in the world and built entirely in-house from the ground up, PXP Unity integrates cutting-edge engineering, flexible service catalogue, advanced real-time data reporting, and streamlined payment processing to accelerate merchants’ time to value.
Amongst its stand-out features is the platform’s ability to transform raw real-time transaction data into actionable insights, empowering merchants with intuitive dashboards that turn complex data into clear strategic direction, including important metrics such as transaction success rates, refusal patterns, payment methods, and scheme performance. Merchants can also drill down to specific parameters and granular insights, including direct connection to a data warehouse for deep and predictive analysis to inform future growth strategies.
PXP Unity also offers a level of self-service unrivalled by other platforms, enabling merchants to adapt the platform’s features to their own business blueprint, and control how and where each transaction flows. This granular control transforms complexity into strategic advantage, letting merchants design the perfect payment experience.
Backed by years of industry expertise, PXP’s platform sets new standards in commerce technology, with every feature and integration being precision-crafted and designed to streamline processes and unlock new growth opportunities.
PXP Unity reflects PXP’s significant investment in both technology and business innovation and offers:
A unified cloud-native global payments platform, processing payments across multiple channels, including online and in-store across a multitude of sectors including gaming, retail, hospitality and cruise, enabling merchants to meet customers at every touchpoint.
Sleek, intuitive and mobile-responsive UI and UX across all merchant channels and devices, including real-time transaction data reporting and advanced analytics dashboard.
Customisable reports and saved queries to meet specific business needs, providing actionable insights, scheduled reports, and direct access to real-time data points.
AI-powered engineering practices to optimise development quality and speed
Merchant control over transaction routing for cost, performance, or redundancy, ensuring every transaction takes the perfect path.
Comprehensive service catalogue, enabling rapid innovation, instant scaling, and continuous evolution of features.
Self-service options, enabling merchants to independently plug and play, configure and manage their payment services and processes, with intuitive interfaces that reduce reliance on manual support.
Customisable webhook notifications to receive real-time updates about any event at any level, for any service.
Freedom to select a single service and adopt it in isolation or combine several services together to build a holistic payments experience.
Next-generation in-store (stand-alone and integrated POS as well as SoftPOS) and online technology.
Scalable and robust infrastructure designed to handle high transaction volumes without compromising performance.
Not only does PXP Unity offer next-generation payment services and greater operational resilience, it simplifies commerce for merchants and businesses by removing friction to speed up integration, improve payment experience and give merchants more control over how their transactions flow.
Kamran Hedjri, Group CEO for PXP, comments: “In today’s fast-changing payment landscape, we know that merchants need even more dynamic and feature-rich payment platforms. PXP is breaking the boundaries of traditional commerce and technology, with architecture that transforms merchants’ payment processing and acceptance capabilities. The PXP Unity platform is where commerce is unified and amplified, and payments are reimagined to deliver the future of payments today. It is future-ready by design, empowering merchants with continuous service evolution and emerging technology innovation.”
Salvatore Cicero, Group CTO for PXP, added: “PXP Unity is more than just a platform; it is the culmination of relentless dedication, innovative engineering, and a vision to redefine global commerce. By bringing together cutting-edge technology, merchant-centric design, and a scalable infrastructure, PXP Unity empowers businesses to take full control of their payment processes. PXP Unity represents the intersection of advanced technology and practical solutions, delivering unmatched flexibility, actionable insights, and the agility to adapt to an ever-evolving payments landscape. It is a game-changer for merchants and a proud milestone for the entire PXP team.”
“With a single link, PXP Unity empowers merchants to customize their payment configurations without the friction and complexities of managing multiple integrations. Tested with selected merchants across various sectors, the feedback has been outstanding. Featuring speed, agility, and future-proof technology, the PXP Unity platform supports the entire business ecosystem beyond payments, ensuring seamless performance and more connected commerce.”
“The launch of our new platform marks a pivotal moment for PXP, establishing a fresh business direction that sets a new standard in the payments landscape. PXP Unity embodies our vision to be the fintech partner of choice, revolutionizing global commerce with a steadfast commitment to continuous growth, innovation, and trusted expertise. As new innovations emerge, PXP Unity will stand alongside our merchants, creating value beyond every transaction. One partner, one link. We handle the rest.”
Checkbook Acquires sureti to Deliver End-to-End Payment Solution for the Property Insurance Ecosystem
Checkbook, a trailblazer in digital payments, is thrilled to announce its acquisition of sureti, a cutting-edge digital payment solution dedicated to transforming the distribution of insurance claim proceeds. This strategic acquisition positions Checkbook at the forefront of the insurtech revolution, delivering faster, smarter, and more secure payment solutions for insurance companies and their customers.
By integrating sureti’s robust vendor network and innovative fund control mechanisms, Checkbook is set to redefine claims payment workflows. The synergy between the two companies promises to solve one of the insurance industry’s most persistent challenges: slow and cumbersome payment processes that delay restoration work and inflate costs.
sureti has been on a mission to revolutionize claim payments, with a firm belief that restoration contractors are often building slowly because they are being paid slowly – a cycle that costs carriers billions in increased loss-of-use expenses. Traditional paper claim checks, with mortgage lenders as payees, have created bottlenecks that negatively impact all stakeholders: carriers, contractors, policyholders, and lenders alike.
“The legacy model was overdue for disruption, and we take pride in leading the charge to solve these claims-related payment challenges,” said Whatley, founder of sureti.
sureti’s groundbreaking approach allows vetted restoration contractors to be paid ahead of work completion a bold departure from industry norms that addresses widespread contractor cash flow issues. This innovative payment process also reduces the risk of omitting lenders from large-loss claim payments while maintaining integrity and control through sureti’s underwriting mechanisms.
Since its inception, sureti has exclusively relied on Checkbook’s digital endorsement technology to streamline multi-party payments. With the integration of their tech stacks, customers can expect enhanced security, performance, and an unrivaled user experience.
“By joining forces with sureti, Checkbook has tackled the ‘last mile’ problem in claims payment distribution, allowing large claim proceeds to reach the right hands quickly and efficiently – without requiring lien holders to slow the process,” said PJ Gupta, Founder of Checkbook. “This is more than an acquisition; it’s a transformation for the insurance industry. We’re cutting large-loss cycle times, reducing administrative costs, and delivering peace of mind to all stakeholders.”
Gupta added, “If there ever was a perfect marriage between an insurtech pioneer and a fintech innovator, this is it. Our partnership is a testament to a shared vision of modernizing claims payments, and we’re excited to continue reshaping the future of insurance payments together.”
Together, Checkbook and sureti are poised to lead the charge in modernizing the property insurance ecosystem, delivering faster payments, better outcomes, and billions in savings for carriers and policyholders alike.
Ethos and Protective Life partner to simplify term life insurance with cutting-edge technology
Ethos, a leading provider of cutting-edge InsurTech solutions, has announced a strategic partnership with Protective Life Corporation and its subsidiary Protective Life Insurance Company, collectively referred to as Protective.
The partnership will enable Protective to offer its proprietary term life insurance directly to consumers via Ethos’ advanced digital platform, according to FF News.
The collaboration aims to simplify access to life insurance by leveraging Ethos’ seamless technology platform and Protective’s trusted insurance products.
Together, the companies aim to expand life insurance access, delivering exceptional value and ease to millions of families.
Ethos is renowned for its innovative technology platform that simplifies the insurance purchase process for both consumers and agents.
The platform integrates advanced tools to provide a streamlined, user-friendly experience, making it one of the most robust solutions in the industry.
Protective Life Corporation, a subsidiary of Dai-ichi Life Holdings, Inc., is a prominent provider of financial and insurance solutions, known for its commitment to making life insurance accessible to a broad demographic.
As part of this partnership, Protective will offer term life insurance for consumers aged 20–65 with term periods ranging from 10 to 40 years.
Coverage amounts of up to $2m will be available, featuring guaranteed level premiums and a terminal illness rider for accelerated death benefits. Customers will also gain access to Ethos’ proprietary Estate Planning tools.
This initiative reflects Protective’s commitment to innovation and accessibility. “We are excited to team up with Ethos to help more people achieve financial protection,” said Aaron Seurkamp, SVP and President of Protective’s Protection & Retirement Division. “Their cutting-edge technology allows us to reach a wider audience and delivers an exceptional experience. This is the latest example of Protective’s commitment to making term insurance easy to obtain and accessible for families everywhere.”
Peter Colis, Co-Founder and CEO of Ethos, expressed similar enthusiasm.
“Joining forces with Protective is a fantastic opportunity for us to expand life insurance access to millions more families while delivering the best policyholder experience,” he said. “And, we couldn’t be more proud to do it with one of the most reputable organisations in the life insurance industry.”
Wisedocs bags $4.5m from CIBC to streamline insurance claim reviews with AI
Wisedocs, an innovative leader in the InsurTech sector, recently received a significant financial boost. CIBC Innovation Banking has extended $4.5m CAD in growth capital financing.
This move is designed to support Wisedocs in broadening its client base and enhancing its product offerings.
The company, renowned for its artificial intelligence (AI) software platform, offers streamlined solutions for summarizing claim files. Specifically, it serves the insurance industry by enabling rapid and cost-effective medical record reviews.
With the new funds, Wisedocs plans to continue its trajectory as a market leader. The focus will be on further developing its intelligent technology platform to manage claims more efficiently. This strategic enhancement aims to leverage advanced generative AI to revolutionise how medical records are processed.
CIBC’s funding follows Wisedocs’ successful $12.7m oversubscribed Series A financing round in January 2024. This indicates strong confidence in Wisedocs’ ongoing expansion and its role within the InsurTech industry.
Connor Atchison, Chief Executive Officer of Wisedocs, praised the partnership with CIBC Innovation Banking. “The CIBC innovation banking team is phenomenal to work with. They have a deep understanding of our business needs, the requirements of a high growth tech company, and the need for dynamic banking solutions to expand globally. We are excited to continue to accelerate our growth with an amazing partner like CIBC.”